Iraq Tells Buyers To Collect Crude Which Can Now Cross Hormuz, While US Boosts Ship Reinsurance Guarantees To $40BN

Oil Surges After Trump Says "US Must Respond To Iran Attack On Apache Helicopter" Summary: Trump says 'US must respond' after Iran downed Apache over Strait  Trump says Washington and Tehran are in the "final throes" of cementing a deal, "two or three days" Iran shoots down US Apache helicopter over Strait, crew safe So much for the early hopes of an imminent deal... Trump Reacts to Apache Downing, Threatens Response Following earlier reports that a US AH-64 Apache helicopter had gone down over the Strait of Hormuz off the coast of Oman in an unprecedented first of...

No Takers, Nor Tankers By Molly Schwartz, cross-asset macro strategist at Rabobank Daily crossings through the Strait of Hormuz increased substantially after the US and Iran announced a “peace” agreement in mid-June. However, those numbers have started to dwindle as the ceasefire—peacefire, shmeasefire—appears increasingly shaky. According to Bloomberg, the Joint Maritime Information Center said that traffic through the Strait remains at “reduced levels,” (around 24% of pre-war transit) even though US-assisted vessel transits have been largely uninhibited. Reuters reports that “some war insurers advise shipowners to pause Hormuz voyages after attacks,” adding...

UK Government Plots Digital ID Lockdown On Every Phone In Lockstep With Big Tech Authored by Steve Watson via Modernity, The Labour government in Britain is accelerating its assault on digital privacy under the well-worn banner of child protection. Fresh plans leaked to the press reveal ministers intend to compel Apple, Google and other tech firms to restrict smartphones so thoroughly that a digital ID will be needed to use them with unfettered access. The mechanism comes in the form of expanded age verification that effectively demands digital identification for device setup...