Greenspan: The Great Opportunist

"Diesel Is At Epicenter Of Supply Squeeze,": Goldman Goldman analysts are out with an eye-opening note showing that global refinery runs have plunged to their lowest seasonal level since the Covid era as conflict-related outages hammer Russia and the Gulf while Chinese processing remains subdued. Analysts, including Yulia Zhestkova Grigsby and Daan Struyven, introduced a new global refinery-runs nowcast, estimating that global runs declined by 6.5 million barrels per day from a year earlier in late July. Non-OECD throughput dropped by 7 million barrels per day, led by the Middle East,...

Heat Dome Threatens America's 250th Birthday As Power Grid Crisis Continues A massive heat dome continues to threaten the eastern half of the US, with the Mid-Atlantic and Northeast at the epicenter of the sweltering conditions. The summer heat is already disrupting July 4 celebrations and World Cup matches, while pushing the nation's largest power grid toward crisis mode later this afternoon for the third consecutive day. The annual Independence Day Parade in Washington, DC, set for later today was canceled "due to extreme heat," organizers said in an overnight memo.  Cooling demand will...

$100 Billion & Climbing: Iran War Price Tag Believed Far Higher Than WH Estimates While the Pentagon publicly clings to a $30 billion price tag for its war against Iran, internal Defense Department assessments (unsurprisingly) paint a far more staggering picture: the true cost is rapidly closing in on the $80 billion to $100 billion range, according to NBC News. The Pentagon's Office of Management and Budget told Congress on June 30 that US military operations against Iran so far is $30 billion: "We’ve spent about $30 billion," OMB Director Russel Vought told...