"Really Only One Thing Worries Us A Lot": Here's What Keeps Goldman's Commodities Guru Up At Night

Poland Moves To Tax Fuel Windfalls Earned During Iran War Authored by Michael Kern via OilPrice.com, Poland's government has approved a one-off windfall tax on fuel companies that benefited from soaring energy prices during the U.S.-Iran-Israel war, seeking to recover part of the billions spent protecting consumers from higher fuel costs. The proposed levy would impose a 60% tax on excess profits generated between March and December 2026, during the closure of the Strait of Hormuz. The Polish Finance Ministry estimates the measure will raise around 4 billion zloty $1.1 billion. Under the...

Israeli Defense Chief Lashes Out At Trump Policy For Preventing Destruction Of Hezbollah Israeli Defense Minister Israel Katz in a talk before reporters Monday ripped the Trump administration, blaming the US for giving into Iran's demands that a peace framework incorporate the Lebanon front. Trump "exerted pressure" on Israeli PM Benjamin Netanyahu within several telephone calls "in the run-up to the signing of the memorandum of understanding" - and ultimately prevented Israel from disarming and destroying Hezbollah, he asserted. Katz expressed "regret" at the US linking up Iran and Lebanon, saying: "The...

Korea Barbeque'd: Kospi Crashes As Chip Stocks Tank, AI Token Index Spirals Lower South Korean stocks plunged on Tuesday as concerns over circular AI financing and China's expanding DUV lithography capabilities (read here) were top of mind among investors. Adding to the pressure, chipmakers may not have found a floor just yet because Silicon Data's LLM Token Expenditure Index continues to slide, suggesting that companies are shifting toward cheaper models, particularly open-source alternatives from China. Top Overnight News The Kospi index follows a weak US session lower, falling as much as 10.7%...