$100 Oil Is Solving Russia's Budget Problem

After an exchange of missile fire, President Donald Trump claimed Israel and Iran were now moving towards peace.  “Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE!” the President wrote on Truth Social Monday. “Final negotiations on “Peace” are proceeding, subject to ignorance or stupidity getting in its way.” Trump’s assertion that […]

Poland Revokes Top Award From Zelensky As Row Over Nazi Symbolism Deepens Poland and Ukraine's ties continue to fray, worsening an ongoing diplomatic crisis - despite Warsaw being an 'eastern flank' key NATO ally in the broader Western campaign against Russia.  President ​Karol Nawrocki has just announced the country's highest state honor previously awarded to Ukrainian President Volodymyr Zelensky has been revoked.  "In light of President Volodymyr Zelensky's consent to name one of the units of the Armed Forces of Ukraine 'Heroes of the UPA,"... I have decided to revoke the Order ⁠of...

No Takers, Nor Tankers By Molly Schwartz, cross-asset macro strategist at Rabobank Daily crossings through the Strait of Hormuz increased substantially after the US and Iran announced a “peace” agreement in mid-June. However, those numbers have started to dwindle as the ceasefire—peacefire, shmeasefire—appears increasingly shaky. According to Bloomberg, the Joint Maritime Information Center said that traffic through the Strait remains at “reduced levels,” (around 24% of pre-war transit) even though US-assisted vessel transits have been largely uninhibited. Reuters reports that “some war insurers advise shipowners to pause Hormuz voyages after attacks,” adding...