Iran Seizes Ship Near UAE

President Trump said on Tuesday that the US would provide insurance and naval escorts for tankers transiting the Strait of Hormuz after Iran’s Islamic Revolutionary Guard Corps (IRGC) declared the waterway was closed, a response to the US and Israeli attack on Iran. “Effective IMMEDIATELY, I have ordered the United States Development Finance Corporation (DFC) […]

Ukrainian Drone Strike Paralyzes Airports Across All Southern Russia Russian cities and communities are busy preparing Victory Day WW2 memorial events all across the country ahead of Saturday, and so security is already on edge and on high alert, especially in the Moscow area, given that Ukraine's devastating cross-border drone attacks have persisted and expanded of late. On Friday air traffic at 13 airports across southern Russia was suspended after drones struck a building at a regional air navigation center in Rostov-on-Don, Russia's transport ministry confirmed. This was the crucial air traffic...

Stocks Jump, Oil Tumbles After IEA Calls Extraordinary Meeting To Decide On SPR Release With oil reversing much of the overnight losses as we neared the start of US cash open trading, futures slumped and it felt like we were back to square one.  That's when the jawboning out of the G7 members - many of whom are already at their breaking point in terms of soaring input costs - decided to double down on the jawboning rhetoric from yesterday - and hinted strongly that an SPR release could be imminent.  The...