Oil Up, Stocks Down As War Rhetoric Rises, Deadlines Loom

Still The (Military) Base Case By Michael Every of Rabobank Hormuz traffic is climbing, but refined product prices are lagging, and crack spreads are blowing out: one can’t just look at the oil price to understand the overall energy dynamic. On the geopolitical front, things are also still mixed. Talks about the US-Iran MoU in Doha, without either side speaking to the other, went well according to the US, who are staying on for what could be indirect talks today. However, the Wall Street Journal reports Iran is split, with political leadership...

Endgame Finally? Iran Peace Deal Signing Expected Within 24-Hours, Technical Talks To Follow, Pakistan's Sharif Says After Friday witnessed a rare moment of agreement between Tehran and Washington saying that indeed a peace deal Memorandum of Understanding (MoU) is indeed 'very close' - there's been more color issued by Pakistan. The country's Prime Minister Shehbaz ​Sharif said that the United States and ​Iran have ​agreed to the final text of the agreement, but that curiously Pakistan is now preparing for an electronic ​signing ​expected ⁠within the next 24 ​hours. Is this going to be...

Globalstar Soars On Amazon Buyout Report Amid Satellite Constellation Race Globalstar shares surged 12% in premarket trading in New York... ...marking their biggest jump in nearly five months, after the Financial Times reported overnight that Amazon is in talks to acquire the satellite operator, a move that would certainly intensify the race to build satellite constellations.  The FT cited people familiar with the Amazon-Globalstar talks and said both sides are still negotiating over "some of the complexities," including the fact that Apple owns a 20% stake in the satellite communications company, which...