Musk Taunts SpaceX Bears Ahead Of Earnings: "I Tried To Warn Them, But They Just Double Down"

Iran Destroyed 20% Of Pentagon's MQ-9 Reaper Drone Fleet: Report Via Middle East Eye Iran has destroyed $1bn worth of MQ-9 Reaper Drones, or roughly 20 percent of the US's pre-war inventory of the sophisticated unmanned aerial vehicles, according to a report by Bloomberg on Friday. The report said that many of the drones were downed by Iran in flight, but that others had been destroyed on the ground when Iran targeted US military bases in the Gulf. via AFP The MQ-9 is both a surveillance drone and capable of carrying a payload, typically Hellfire missiles...

Breaking The Stalemate By Bas van Geffen, Senior Macro strategist at Rabobank Energy prices continue their ascend –with Brent futures trading above $124/barrel – after media report that the US may try to break the stalemate in the US-Iran war by force. Axios reports that military leaders will brief Trump on potential military options today. Reportedly, the Pentagon is preparing a wave of “short and powerful” strikes on Iran, likely targeting infrastructure. Yesterday, Trump still suggested that he would not resume the bombing campaign. The US president said he believes the US...

WTI Rises As Distillate Stocks Draw, Cushing Back Near 'Tank Bottoms', SPR At 43-Year Lows Oil prices are chopping sideways (to modestly higher) for the second day in a row as traders weighed the 'dark fleet' transits with renewed tensions in the Middle East further clouding the outlook for flows through the vital Strait of Hormuz. “A combination of the escalation between the UAE and Iran, coupled with a market increasingly pricing a ‘closed for longer scenario,’ keeps oil and refined products supported,” said Arne Lohmann Rasmussen, chief analyst at Global Risk...