WTI Dips After Big Crude Inventory Build, US Production Slows

Iran's Financial Hub, The UAE, May Freeze Billions In Assets Over Retaliatory Strikes The United Arab Emirates is pissed after Iran targeted Dubai and other US allies with over 1,000 drones and missiles in retaliation for US-Israeli attacks over the last week - and is now weighing freezing billions of dollars in Iranian assets held in the Gulf state, according to the WSJ, citing people familiar with the discussions. If that happens, it could sever one of Tehran's most vital economic lifelines.  A black plume of smoke rises from a warehouse at the industrial area of Sharjah...

Ten additional Lebanese health care workers have been killed in Israeli attacks on ambulances and hospitals this weekend, bringing the overall toll of paramedics killed in the war this month to at least 51 as the invasion of Lebanon continues to expand. Nine of the health care workers were killed in various attacks on Saturday, […]

New Ayatollah's First Message: Hormuz Strait Stays Closed, Warns 'More Fronts' Could Open Summary: Bloomberg: Trump admin set to temporarily suspend Jones Act shipping rules to help cool rising oil prices. Ayatollah Mojtaba in first public message says the closure of the Strait of Hormuz should be continued as a tool to pressure the enemy Mojtaba vows to keep attacking US bases, and signals 'new fronts' could soon open President Trump simultaneously says the US is stopping Iran "from having Nuclear weapons" and "destroying" the Middle East and "the World". Shipping turmoil escalates as multiple vessels...