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Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock
Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock
The global demand destruction playbook we outlined last month, describing how the Gulf energy shock would spread across continents, is now materializing on a large scale. The International Energy Agency said in a Tuesday update that global oil demand will decline this year for the first time since 2020.
"The Iran war has thoroughly upended the global outlook for oil consumption," the IEA wrote in its Oil Market Report. "Demand destruction will spread as scarcity and higher prices persist."
The IEA...
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Jun 11, 2026 / Tyler Durden
ECB Hikes Rates For First Time Since 2023 (As Expected); Cuts Growth, Hikes Inflation Outlook
ECB Hikes Rates For First Time Since 2023 (As Expected); Cuts Growth, Hikes Inflation Outlook
As fully expected, The ECB hiked its key rate by 25bps (for the first time since 2023) as the policymakers battle with the dilemma of economic weakness combined with rising inflation.
Obviously, raising rates to dampen inflation could further slow the economy, while easing rates to support growth increases the risk that higher inflation becomes persistent.
Clearly, Lagarde et al went with the former with its well-jawboned baseline having long been a hike in June with risks skewed toward...
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Apr 20, 2026 / Dave DeCamp
Hungary’s Incoming Prime Minister Says ICC Warrant Will Be Enforced If Netanyahu Enters the Country
Hungary’s incoming prime minister, Peter Magyar, has said that his government would fulfill its obligations as a member of the International Criminal Court (ICC) and arrest Israeli Prime Minister Benjamin Netanyahu if he entered the country. The ICC issued its warrants for Netanyahu and former Israeli Defense Minister Yoav Gallant back in 2024 over their […]
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Apr 26, 2026 / Dave DeCamp
Report: Iran Caused Far More Damage to US Bases Than the Trump Administration Has Acknowledged
Iranian attacks on US bases across the Middle East have caused far more damage than the Trump administration has publicly acknowledged, and an Iranian fighter jet was able to bomb at least one US base, NBC News reported on Saturday, citing unnamed US officials. The administration has attempted to cover up the damage to US […]
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