Rising Venezuelan Oil Exports Help Insulate The US From Energy Crisis

Bessent: US Readies Economic Isolation Of Iran "Like The World Has Never Seen Before" Treasury Secretary Scott Bessent told Newsmax Thursday night that the Trump administration will announce unprecedented economic measures against Iran next week, signaling that a sharp escalation in economic warfare is just ahead as negotiations to reopen the Strait of Hormuz remain stalled. The warning comes as Tehran-linked Houthi rebel forces resume attacks on Saudi Aramco energy infrastructure, raising concerns that the conflict is spreading geographically and pushing Brent crude futures higher. Bessent told Rob Schmitt of...

Leopold Aschenbrenner's Short Seller Fairy Tale Submitted by QTR's Fringe Finance Leopold Aschenbrenner’s hedge fund, stuffed like the ass of a Thanksgiving turkey with every trendy AI name you could throw a dart at, reportedly suffered one of the most spectacular drawdowns of recent memory, losing roughly 67% in July after a series of heavily leveraged bets went violently against it. According to the Wall Street Journal, the losses became severe enough to trigger margin calls, forcing the firm into emergency asset sales. Public positions were reportedly sold to Citadel to raise liquidity,...

Oil Drops Despite 3.1 Million Drop In Crude Inventories, Diesel Spikes Oil prices were largely unchanged, trading near session lows, after today's DOE inventory data affirmed the latest downbeat API prints from Tuesday afternoon, showing that the crude draw in the last week was even bigger than what API reported (-2.1MM), and far worse than the +1.9MM expected increase, printing at -3.186MM, the biggest draw in 6 weeks. API     Crude -2.1mm (vs +1.0mm last)     Gasoline -1.4mm (vs +3.0mm last)     Distillates +0.5mm (vs -0.3mm last)     Cushing +0.9mm, (vs...