Israeli Attack in Gaza Kills Son of Hamas’s Lead Negotiator

Futures Drop As Iran Hostilities Send Brent To 6 Week High Above $97 US stock futures slipped in cautious, low volume trading as the latest Middle East escalation pushed oil prices higher, lifting bond yields in Europe and Asia. As of 9:00am ET, S&P futures were down 0.2% with Nasdaq futures modestly in the red despite solid performance for tech stocks earlier in the session, which helped the Kospi surge more than 4.6% - its second biggest jump since the Situational Awareness takeover by Citadel - and Nikkei jumped almost 2%...

Crude Inventories Have Fallen To "Precariously Low" Levels U.S. crude inventories fell sharply last week as refineries ramped up production to capitalize on higher fuel prices following renewed conflict with Iran, according to Financial Times. Commercial crude stockpiles declined by 7.2 million barrels, while the Strategic Petroleum Reserve (SPR) dropped another 3.8 million barrels. Refineries operated at 97% of capacity nationwide, with some Midwest facilities running at full capacity as exports to Asia and Europe increased. FT writes that the drawdown comes as renewed fighting between the U.S. and Iran continues to disrupt...

As The Worms Turn... Authored by James Howard Kunstler, "They’re holed up in a bank demanding three large pizzas, a helicopter, and a personal phone call from Sydney Sweeney..." - Greg Gutfeld on Iran’s negotiating position The Russians have a phrase for it: negotiation-incapable (ne peregovorosposobny). That is what the Iran delegation demonstrated during a long day of talks with the US team over the weekend in Islamabad. What part of “no nukes” didn’t they understand? All of it, apparently. The corollary question on the table — arguably more pressing for Iran — was:...