Massive Oil Slick Spotted Off Iran's Kharg Island, Cause Unknown 

Iran Rejects Report That Deal Is 'Close' After Qatar, Pakistan Push 'Compromise Proposal' To End War Update(1117ET): The somewhat expected quick rejection is coming from the Iranians via newswires: IRAN-US TALKS CONTINUE, REPORTS DEAL IS CLOSE ARE WRONG And Israeli media: "At least once, the US Trump administration was 'very close' to approving an attack on Iran" i24 Stein's reports citing sources. Oil bouncing back on the Iranian rejection headlines, and despite... RUBIO: OIL GOING THROUGH HORMUZ NEARLY EQUAL TO BEFORE WAR *  *  * Update(1035ET): This past weekend Iranian Foreign Minister Abbas Araqchi said that...

What exactly are Americans celebrating this Fourth of July? Two hundred and fifty years after the Declaration of Independence proclaimed that all people possess inalienable rights, we now live under a government that increasingly behaves as though rights belong to the government to distribute, restrict and revoke as it sees fit. Freedom has become conditional. […]

HSBC Sees "Upside Risks" From "Super Squeeze" In Commodities London copper futures are trading north of $14,700 a ton, Brent crude futures have climbed above $101 a barrel, US diesel crack spreads are back in triple-digit territory, and the Bloomberg Commodity Index is at a 14-year high. The energy shock has broadened into a rally across the commodity complex, from energy to agricultural products to metals and other critical materials, with a growing number of Wall Street research desks identifying tightening physical supplies as a key driver. HSBC chief economist for...