Iran Takes its Chances with War

"No More Mr. Nice Guy": Trump Sends Witkoff To Pakistan For U.S.-Iran Talks As Hormuz Traffic Freezes By Sunday morning, the latest Bloomberg ship tracking data showed that tanker traffic through the Strait of Hormuz had largely ground to a halt. There were multiple incidents of tankers U-turning over the last 24 hours. At the same time, a senior Iranian official renewed threats to close the Bab al-Mandeb Strait. The Hormuz chokepoint (closed once again after briefly opening on Friday morning) comes as the US blockade of Iranian ports remains in...

Trump Signals Response To Haifa Refinery Strike 'Shortly' As WH Mulls Uranium Seizure Op; Bessent Vows To 'Retake' Hormuz 'Over Time' Summary Iran rejects 'excessive, illogical' US demands while Trump mentions 'progress' with a 'more reasonable regime'. Trump again threatens to destroy Iran energy sites and Kharg Island. Hundreds of US Special Forces arrive in region. White House seriously considering ground operation to seize Iran's enriched uranium stockpile but also wants Tehran to negotiate handing it over willingly. Bessent: US will 'retake' Hormuz Strait 'over time'. Bazan oil refinery in Israel's northern city of Haifa is...

Memorial Day Gas Demand Surge Collides With Hormuz Shock As $5 Demand-Destruction Line Nears Drivers heading into Memorial Day weekend are set to face some of the highest regular gasoline prices at the pump in years. With the U.S. national average sitting at $4.53 per gallon (according to AAA data) and no resolution yet on a U.S.-Iran peace deal or the reopening of the Strait of Hormuz, pump prices risk rising even higher into the holiday weekend as the summer driving season begins. Let's start with the chart of the day: AAA...