Chevron Warns California Facing Historic Fuel Crisis As Diesel Hits Record $7

Iran fired missiles at Israel in response to the IDF bombing Beirut.  “The Islamic Republic of Iran has repeatedly stated that it will not tolerate violations of the ceasefire and aggression against Lebanon. Tonight, the aggressors received their response,” Mohsen Rezaee, the military adviser to Iran’s supreme leader, wrote on X. “This response is a […]

Iran Will 'Immediately' Return To MoU Deal If US Does, Pezeshkian Says, After Two Supertankers Struck In Hormuz Summary Iran offers conditional ceasefire: Pezeshkian says Iran will return to talks if the US honors prior commitments, which Tehran says it has violated. US threatens further strikes: Trump warned of more action but ruled out necessarily returning to full-scale war. Tankers hit in Strait of Hormuz: Two supertankers struck exiting Hormuz, escalating energy-market risks. Oil prices surge: Brent crude rose above $92/barrel. Diesel supply squeezed: Refinery disruptions are driving diesel prices and margins sharply higher. Strait of Hormuz traffic returns to normal by...

IRS Takes Aim At AQR's Tax-Slashing "Holy Grail", Warns Crackdown May Be Retroactive For three years Wall Street's hottest product wasn't a stock, a sector or even an AI trade - it was losing money. Specifically, losing it in a very precise, very engineered way so that the "losses" could be handed to the IRS while the portfolio itself kept compounding. But now the taxman has finally noticed. On Monday, Treasury and the IRS released Notice 2026-62 and Revenue Ruling 2026-20, a double-barreled warning shot at the "tax alpha" industry. Among...