Report: Iranian Oil Profits Doubled Since Start of War

Iran To Grant China, 'Friendly' Countries 'Special Consideration' On Hormuz Fees Via The Cradle Iran's ambassador to China stated on Saturday that the Islamic Republic would impose service fees on vessels transiting the Strait of Hormuz, but that China and other "friendly" countries would be granted "special considerations." During a speech at the World Peace Forum in Beijing on Saturday, Iranian Ambassador Abdolreza Rahmani Fazli affirmed that Iran was working in "collaboration and cooperation" with Oman on "new arrangements" for the strait. via Associated Press Ships passing through Hormuz, through which one-fifth of the world's oil...

US Existing Home Sales Unexpectedly Jumped In May, Inventories Surge With the Spring selling season in tatters, existing home sales were expected to rebound in May very modestly (+1.1% MoM) off recent record lows, but instead they outperformed, rising at 3.2% MoM (and April's 0.2% MoM rise was revised higher to a +0.7% MoM rise). That lifted existing home sales up 3.22% YoY - the strongest since September 2025... Source: Bloomberg That beat lifted existing home sales SAAR to its highest level of the year (but not exactly signaling a trend)... Source: Bloomberg “More Americans...

Uranium Awakens From Five-Month Slumber As UBS Warns Market Is "Tightening Structurally" Bloomberg's continuous front-month uranium futures contract (UXA1 Comdty) briefly surged above $100 a pound in late January, driven by tightening supplies, renewed government support for nuclear power, and rising electricity demand from the AI infrastructure boom. Uranium futures then retreated and remained range-bound between $84 and $87 for five months. But momentum has returned in August, with prices approaching $89 a pound, the highest level since early February. The ongoing theme is that years of underinvestment have limited mine...