Two Chinese Container Ships That Were Previously Turned Back By Iran, Now Allowed To Transit Hormuz Strait

WTI Extends Gains, Shrugs Off SPR Release Amid Crude Build, Dip In US Production Oil prices are higher this morning, shrugging off the well-telegraphed (and practically useless) SPR release. "Oil prices remain volatile and risk sentiment fragile and trading is on the headlines and rapidly evolving conflict in the Middle East," noted Neil Wilson, Saxo UK investor strategist. And while, the main drivers of crude prices remain more global, the domestic supply and demand situation remains noteworthy based on its impact on gasoline (pump) prices. API Crude -1.7mm (+1.1mm exp) Cushing Gasoline -1.8mm Distillates -2.3mm DOE Crude +3.82mm (+1.1mm...

Israeli airstrikes were targeting Lebanon’s main coastal highway south of the capital city of Beirut today, hitting at least seven vehicles and killing 12 people, along with wounding an unspecified number of others. The main strikes were reported earlier in the day between Beirut and the key port city of Sidon, but there were other, […]

US Already Spent Over $42 Billion & Counting On Iran War This week will see the Iran war reach 40 days of fighting, which is a far cry from the mere "four days" some US administration officials offered as a possible 'optimistic' timeline at the very opening of Trump's Operation Epic Fury. According to the Iran War Cost Tracker portal, the US military operation has cost more than $42 billion thus far. The tracker has arrived at this figure largely based on a Pentagon briefing to Congress on March 10, which disclosed...