WTI Rises As Distillate Stocks Draw, Cushing Back Near 'Tank Bottoms', SPR At 43-Year Lows

How China Is Using Its Coast Guard To Assert Control At Sea Over the past decade, China's Coast Guard (CCG) has evolved from a conventional maritime law enforcement agency into a central instrument of Beijing's strategy to reinforce its territorial claims, according to Bloomberg. Now operating a fleet of roughly 680 vessels, it continues to conduct routine missions such as search and rescue, anti-smuggling operations, and fisheries enforcement, but increasingly serves broader strategic objectives. Bloomberg reports that rather than relying solely on the navy, Beijing deploys the CCG to project control over...

"Unofficial" FBI Group Swept Up Journalists, Politicians As Russian Disinfo "Conduits" For Probing Biden-Ukraine Dealings An FBI analytical group that reviewed confidential-source reporting about Biden family corruption in Ukraine was "unofficially formed" inside the bureau's Foreign Influence Task Force in late 2019 and did not corroborate the allegations it was assigned to assess before labeling the reporting as Russian disinformation, according to newly declassified records. The records [Direct download link] provide a more detailed picture of an effort known as Round River, a component of a broader intelligence project called DELTA, that...

BMO Says Return Of Mexican Cattle Is "Clear Positive" For Two Beaten-Down Meatpackers Following the USDA's announcement that it will begin lifting the year-long ban on Mexican live cattle imports on Aug. 24, BMO Capital Markets senior equity research analyst Andrew Strelzik called the decision a "key positive" for publicly traded meatpackers Tyson Foods and JBS. The restrictions were imposed to combat the New World screwworm, a flesh-eating parasite that threatens livestock. Restoring Mexican cattle flows should gradually ease tight U.S. supplies, improve slaughterhouse utilization, and support beef-processing margins. "A combination of...