Oil Jumps After Explosion And Massive Fire At One Of The Largest US Oil Refineries

China To Import Record Amount Of US Ethane As Iran War Chokes Off Naphtha, LPG Supplies One year ago, in the immediate aftermath of Trump's Liberation Day tariffs, there was a flurry of discussion over who is more reliant on whom: the US on Chinese rare earth materials, or China on US ethane output (see "Chinese Plastics Factories Face Mass Closure As US Ethane Supply Evaporates" and "Who Blinks First? China May Exempt Tariffs On US Ethane & Other Goods"). Following the detente in the US-China trade war, that discussion was...

Virginia Redistricting Rout Deals Major Blow To House Republicans Democrats’ decisive win in Virginia Tuesday night has dealt a significant blow to Republican hopes of retaining control of the House. By persuading voters to dismantle the state's independent redistricting commission - created just six years ago - Democrats wiped out four Republican-held congressional districts. This means Virginia's House delegation is now on track to shift to a 10-to-1 Democratic advantage, a dramatic reversal for a state that remained firmly in GOP hands not long ago. That said, Democrats dropped $65 million on the races...

Cryptos Soar After SEC Issues Tokenization Order: Here's What's In It Just days after cryptocurrencies tumbled on Tuesday when the CLARITY act failed to pass the Senate, crypto is surging to close out the week after the Securities and Exchange Commission issued an "Innovation Exemption" order which cleared tokenized stocks to trade onchain. The decision sent bitcoin above $81K, but it was the tokenization-focused assets like Solana, Ether and the NEAR protocol as well DeFis, that really soared. Understandably, the tokens that ran hardest are the ones tied to trading securities onchain: Bitcoin last...