Iran Issues Stern Warning to Israel After Top Official Threatens Assassination of Supreme Leader

The Russian Defense Ministry announced it carried out “massive” missile and drone strikes on nine Ukrainian cities Wednesday night, which continued into the daylight hours Thursday morning. The Defense Ministry claims its forces targeted military-related sites, such as industrial facilities, oil refineries, logistics hubs and port infrastructure. This included facilities and energy infrastructure in the […]

Americans' Real Wages Are Shrinking As CPI Tops 4% For First Time In 3 Years With expectations of a 4%-plus print, all eyes are on this morning's CPI report as we move past April's shutdown-related distortions. Headline CPI rose 0.5% MoM (as expected) in May, lifting prices 4.2% YoY (also as expected). The first 4%-plus print since April 2023... Core Goods prices deflated in May while Energy remains a notable contributor... CPI details: Headline: The all items index rose 4.2 percent for the 12 months ending May, after rising 3.8 percent for the 12 months...

Russia Struggles To Deliver Crude Oil As It Hits 135 Million Barrel Traffic Jam Russia is struggling to deliver all of the crude it’s being forced to ship overseas in the face of escalating Ukrainian drone strikes on its refineries. Nearly 135 million barrels of Russian crude oil are currently stranded at sea as a result of Ukraine’s airstrike campaign targeting refineries with the intent to cripple crude processing. The offshore backlog is forcing Moscow to significantly ramp up export volumes according to OilPrice.com. Intensive Ukrainian drone strikes, including recent hits on the Gazprom...