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US Oil Exports Soar To New Record High As Inventories Tumble, SPR Drained Most Since October 2022
US Oil Exports Soar To New Record High As Inventories Tumble, SPR Drained Most Since October 2022
One week ago we lamented that the record oil inventory drawdown, which has seen over 250 million barrels drained from storage since the start of the war, has not led to higher oil prices (for those who missed it, Goldman forecast that global visible oil inventories are likely to reach record-low levels even in an optimistic scenario where Hormuz flows start to recover by the end of April).
Moments ago the already precarious inventory picture...
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Jun 1, 2026 / Tyler Durden
Foreign Cargo Ship Struck By 'Massive Projectile' Just Off Iraq
Foreign Cargo Ship Struck By 'Massive Projectile' Just Off Iraq
A commercial cargo ship navigating the Arabian Gulf was struck by an unidentified projectile, triggering a "large explosion," according to the United Kingdom Maritime Trade Operations (UKMTO).
The maritime strike took place approximately 65 nautical kilometers (40 miles) southeast of Umm Qasr, Iraq. At this time, the UKMTO noted that it is unaware of any environmental damage resulting from the blast.
Source: UKMTO
Initially Iraqi media reported the blast was due to "mechanical failure" - but soon after other regional media said it was...
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Jun 9, 2026 / Tyler Durden
Vance Reacts After Israel Reportedly Caught Spying On Pentagon
Vance Reacts After Israel Reportedly Caught Spying On Pentagon
Vice President JD Vance has raised some eyebrows in Washington after responding to a Fox News question about pervasive Israeli spying on top Trump administration and US intelligence officials.
NBC reported days ago that the Pentagon has officially elevated Israel's counterintelligence threat level to its highest possible category, driven by surging internal alarm that this primary Mideast regional ally is aggressively ramping up espionage operations targeting senior US officials - even Trump's own top Iran negotiator.
While the White House has officially denied the report...
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Jun 7, 2026 / Tyler Durden
A "Black Mark" On Tim Cook's Resume: How Apple Missed The AI Revolution
A "Black Mark" On Tim Cook's Resume: How Apple Missed The AI Revolution
Apple's AI problems didn't become impossible to ignore because competitors released better chatbots. They became impossible to ignore when Apple itself realized it had fallen behind, according to a new feature by Bloomberg.
By early 2025, senior leaders inside the company were holding emergency-level discussions about the state of Apple's AI efforts. What was supposed to be a major leap forward—Apple Intelligence and a next-generation Siri—had instead exposed deeper weaknesses. While Google, OpenAI, Microsoft, Meta, and Anthropic were...
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