Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls

Oil Drops On Reports Of Iran-Oman Coordination To Reopen Hormuz Strait, While Exchange Of Strikes With US-Israel Intensify Summary No mention of ceasefire while vowing to keep hitting Iran 'extremely hard' in Wed. night Trump speech. Escalating tit-for-tat overnight strikes. Oil drops on reports of Iran-Oman coordination to reopen strait. US intelligence assessments say Iran is not ready to negotiate given it believes it has the strategic upper-hand, and doesn't believe Trump is 'serious' about talks: NYT Highest bridge in Iran, connecting Tehran and Karaj, destroyed - amid reports of expanding attacks on civilian...

The US and Israel may restart the bombing campaign against Iran just days into a two-week ceasefire, according to US and Israeli media reports. The Wall Street Journal reported that President Trump is considering launching “limited” strikes against Iran as part of a pressure campaign that includes a blockade on Iranian ports, though any “limited” […]

WTI Rises After Big Inventory Drawdowns Across Energy Complex, Huge SPR Drop, Record Exports Oil largely held onto a sharp drop from this week’s highs as the US and Iran seek further talks to end a war that has brought the vital Strait of Hormuz waterway to a near-halt. President Trump told a Fox Business anchor he sees the war “very close to over” and told ABC “you’re going to be watching an amazing two days ahead.” The global oil market has been jolted by the conflict, which triggered an unprecedented supply...