Hormuz Ship Traffic Rebounds To Highest Level Since Start Of War, Iran Renews Restrictions

As Stocks Hit Record Highs, Americans' Consumer Confidence Collapses To Record Low With the "mini war" still ongoing (albeit with a 'ceasefire' in place), expectations were for UMich consumer sentiment to continue languishing at record lows in final May data released this morning. And it did, with the headline sentiment - along with both Current Conditions and Expectations - all plunging to record lows... Source: Bloomberg Yep... Americans have never been more miserable... Black Friday, meh; 9/11, nothingburger; GFC, fleshwound... “The cost of living continues to be a first-order concern, with 57% of consumers spontaneously...

US Unleashes Another Wave Of Crude From Strategic Reserve As Gas Prices Soar The U.S. government will loan 53 million barrels of oil from the Strategic Petroleum Reserve (SPR) to petroleum companies in a bid to relieve elevated gas and oil prices amid the conflict with Iran. In a news release on Monday, the Department of Energy (DOE) announced it would release the crude oil from its sites in Louisiana and Texas to contribute to the International Energy Agency’s (IEA’s) move to stabilize the price of oil, which has often risen...

The US has launched two more airstrikes in Somalia, according to press releases from US Africa Command, as the Trump administration is keeping up the bombing campaign in the country amid the US-Israeli war against Iran. AFRICOM said that one strike was launched on March 15 and targeted al-Shabaab in the vicinity of Mubaraak, a […]