Trump Calls on Congress to Pass FISA Extension

UK Jet Fuel Rationing Risks Emerge As Goldman Warns Of "Extreme Physical Tightness" Brent crude futures briefly tumbled below $100 a barrel on Wednesday morning after an Axios report indicated the Trump administration and Tehran were working toward a one-page memorandum of understanding to end the war and reopen the Strait of Hormuz. Still, any near-term peace deal would not immediately normalize the badly fractured global energy supply chains. Crude products markets remain physically tight, and the damage from months of disrupted tanker flows will take time to unwind. Some countries...

Diplomacy 'Back In Motion' With Witkoff-Kushner Heading To Switzerland, Despite Overnight Rising Death Toll In Lebanon Since the US-Iran Memorandum of Understanding was signed days ago it's increasingly obvious there's been a widening split between Washington and it's closest Middle East ally Israel over the terms of the deal. The political interests between the Trump administration and Israel, which have been typically lock-step, have increasingly diverged on the question of the Iran peace and terms of reopening the Strait of Hormuz. Ground zero for this divergence has remained south Lebanon,...

Breaking The Stalemate By Bas van Geffen, Senior Macro strategist at Rabobank Energy prices continue their ascend –with Brent futures trading above $124/barrel – after media report that the US may try to break the stalemate in the US-Iran war by force. Axios reports that military leaders will brief Trump on potential military options today. Reportedly, the Pentagon is preparing a wave of “short and powerful” strikes on Iran, likely targeting infrastructure. Yesterday, Trump still suggested that he would not resume the bombing campaign. The US president said he believes the US...