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OPEC+ Agrees To Boost Output By Another 206,000 Barrels A Day When Strait Of Hormuz Reopens
OPEC+ Agrees To Boost Output By Another 206,000 Barrels A Day When Strait Of Hormuz Reopens
With the world's attention glued to every headline out of Iran, it is understandable why today's OPEC+ meeting was largely ignored, although with roughly 12% of global oil output throttled at the Strait of Hormuz, it's not as if even OPEC+ could do much to offset the supply shock.
Earlier on Sunday, the oil-producing cartel (where Iran is a founding member yet was missing from the Joint Ministerial Monitoring Committee) warned that damage to Middle...
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Apr 28, 2026 / Tyler Durden
'Quality Learing Center' And 20 Other Somali-Linked Businesses Raided By FBI, Homeland Security In Minnesota
'Quality Learing Center' And 20 Other Somali-Linked Businesses Raided By FBI, Homeland Security In Minnesota
Federal agents from the FBI and Homeland Security Investigations (HSI) executed court-authorized search warrants at more than 20 locations across the Minneapolis area early Tuesday morning, targeting businesses primarily linked to the Somali-American community as part of an ongoing criminal fraud investigation.
Fox News congressional correspondent Bill Melugin reported that the Department of Justice confirmed the operation to the network, stating it involves "court-authorized law enforcement activity as part of an ongoing fraud investigation." A separate...
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Aug 6, 2026 / Kyle Anzalone
Ansar Allah Claims Large Attack on Saudi Arabia
Yemen’s ruling Ansar Allah said it conducted a large-scale attack on several military sites in Saudi Arabia. “Our armed forces have detected large-scale Saudi military mobilizations in their final stages, aimed at escalating against the liberated provinces and the Yemeni people to deter them from their stance on ending the unjust siege,” Ansar Allah military […]
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Apr 28, 2026 / Tyler Durden
40,000 U.S. Retail Stores Could Close By 2030
40,000 U.S. Retail Stores Could Close By 2030
UBS consumer analyst Michael Lasser told clients that a further rise in e-commerce penetration, from about 22% today to as high as 27%, could force the closure of 40,000 U.S. retail stores by 2030.
The warning comes as more than 10,000 stores have closed since late 2023, and shows how the shift to e-commerce is pressuring brick-and-mortar retail footprints nationwide.
Lasser's forecast is that e-commerce penetration rates in the U.S. will top 27% by the end of the decade, up from the current 22%.
Many...
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