Iran War: Sleepwalking into Starvation

Major US Shale Producer To Boost Output, And It Suggests One Thing Last month, roughly three weeks into the U.S.-Iran conflict, UBS chief economist Arend Kapteyn told clients that one reason this Middle East energy shock is "not like the 2011-2014 shale boom" is the lack of a comparable response from the U.S. shale patch. In other words, the oil shock was viewed as temporary by major shale players and not worth adding new drilling rigs to the mix. But now, on day 35 of Operation Epic Fury, that assumption about...

Houthis Unleash Major Missile Barrage On Saudi Arabia's Sprawling King Khalid Air Base Summary Houthis attacked a Saudi air base with missiles and drones, claiming major damage. Houthis seized more Red Sea territory, including Perim Island near the Bab al-Mandab Strait. Shipping risks are rising, with vessels avoiding the Red Sea and taking longer routes around Africa. Iran-Gulf diplomacy was postponed, delaying efforts to address the Strait of Hormuz crisis in what was to be a rare GCC-Iran meeting. Saudi oil exports face ongoing disruption after a pipeline shutdown, pushing oil prices above $100/barrel. Trump invokes...