Memorial Day Gas Demand Surge Collides With Hormuz Shock As $5 Demand-Destruction Line Nears

Container Ship Sinks In Hormuz After Iranian Strike Last Month; UBS Gives Latest Strait Update The Egyptian-owned, Maltese-flagged container ship Safeen Prestige (IMO: 9593517), which was damaged in the first week of the U.S.-Iran conflict following an Iranian strike, has reportedly sunk in the Strait of Hormuz. According to Bloomberg, Pakistan's hydrographic service said the container ship sank last week, leaving only an oil slick on the surface of the water in the Hormuz chokepoint. The IRGC torched the SAFEEN PRESTIGE in the Strait of Hormuz and continues to reignite the fire. Now...

Automakers Race Into Humanoid Robots As Timeline For Blue-Collar Job Disruption Emerges Bernstein analyst Eunice Lee is out with a fascinating note explaining why automakers are making a mad dash into the world of humanoid robotics, arguing that their manufacturing scale, supply-chain depth, and years of investment in autonomous driving give them a structural lead in the emerging physical-AI market. Lee writes that automakers are also seeking new revenue streams beyond the core vehicle business, with humanoids poised to move from factory floors into the physical world across retail, security, public...

EU's Kallas Says No Progress On Zelensky's Cash Infusion For Patriot Missiles On Wednesday EU leadership revealed that the Zelensky government has formally asked the European Commission to provide several billion euros from the EU’s €90 billion ($105 billion) support loan to purchase US-made Patriot air defense missiles. European Commission President Ursula von der Leyen announced just ahead of a meeting with NATO Secretary General Mark Rutte, "It is worth several billion euros and would cover Ukraine’s air defense needs, including high-end PAC-3 air defense systems." via EU Council At the same time, the EU’s...