Iran's Economy Is In Shambles As War Takes Its Toll

Somali Piracy Surges Amid Hormuz Blockade Authored by Alex Kimani via OilPrice.com, The effective closure of the Strait of Hormuz has forced hundreds of commercial ships onto longer routes around Africa, and Somali pirates are moving quickly to exploit the sudden increase in traffic off the continent’s eastern coast. Oil tankers MT Honour 25, MT Eureka and MT Asana were hijacked in the Gulf of Aden and off Puntland between April and July 2026, the largest attacks by Somali pirates in years. The Iran war has now delivered these groups more targets, spread...

"Late Spring Buyer Rush": US Pending Home Sales Just Surged By The Most In Almost 2 Years Pending home sales in the US were expected to rise for the fourth straight month in May and they did with a huge beat (+3.8% MoM vs +0.9% MoM exp - above the highest analysts estimate), which was slightly offset by a downward revision for April (from +1.4% to +0.3%). That is the best monthly improvement in pending home sales since Sept 2024 and that lifted sales by just over 2% YoY. “A late spring...

US Security Chief Says One Suspected Terrorist Is Arrested At Canadian Border 'Almost Weekly' Authored by Paul Rowan Brian via The Epoch Times, U.S. Homeland Security Secretary Markwayne Mullin says American authorities apprehend a suspected or wanted terrorist at the Canada-U.S. border "almost weekly," while warning that "fracturing" relations between the two countries could leave both more vulnerable to criminal organizations, fentanyl traffickers, and other threats. U.S. Homeland Security Secretary Markwayne Mullin testifies before the U.S. House Committee on Homeland Security in Washington on June 3, 2026. AP Photo/Cliff Owen Mullin made the...