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Mideast Chaos Sends Supertanker Rates Soaring To $800,000 A Day
Mideast Chaos Sends Supertanker Rates Soaring To $800,000 A Day
Supertanker rates on the Baltic Exchange's benchmark Middle East-to-China shipping route have surged to a staggering $800,000 a day. With US forces having destroyed five Iranian-linked tankers and Tehran threatening further escalation in recent days, prospects for near-term stabilization remain limited.
The freight surge signals that crude oil and refined products continue to flow but are becoming increasingly costly to transport out of the Gulf region to global markets.
According to Bloomberg, US Gulf-to-Asia shipments on very large crude carriers average...
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May 5, 2026 / Tyler Durden
Meteorologists Sound Alarm Over El Nino Plume Racing Across Pacific Like "Freight Train"
Meteorologists Sound Alarm Over El Nino Plume Racing Across Pacific Like "Freight Train"
Meteorologists on X are once again warning about a powerful El Niño, pointing to a new plume of warm subsurface water moving across the Pacific "like a freight train." The latest water temperature data suggest that El Niño later this year could rank among the strongest on record, with potentially significant implications for the Lower 48.
"Updated El Niño forecast for this summer/autumn is 'off the charts' EXTREME with 'boiling red' map colors along Equatorial central and...
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Sep 2, 2026 / Tyler Durden
OpenAI Hits Back At Apple In Trade Secrets Lawsuit
OpenAI Hits Back At Apple In Trade Secrets Lawsuit
Authored by Bill Pan via The Epoch Times,
OpenAI has pushed back against Apple's accusations that it stole the iPhone maker's hardware secrets, blaming the dispute on Apple's own handling of departing employees.
In a court filing on Monday, OpenAI asked a federal judge to deny Apple's request for a preliminary injunction, which would bar the ChatGPT maker and two former Apple employees from accessing, using, or disclosing alleged trade secrets while the case proceeds.
"This dispute is a mess of Apple's own making,...
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Jul 8, 2026 / Tyler Durden
South Korea Falls Into Bear Market As Memory Euphoria Fizzles
South Korea Falls Into Bear Market As Memory Euphoria Fizzles
It started off with the usual morning rush by retail momentum chasers into the handful of massive, market-moving names (read Samsung Electronics and SK Hynix), but as has been the case over the past two weeks, the initial euphoria quickly reversed and the Kospi rolled over, closing down 5.4%, 9.99% over the past two days, and down 22% from the all time high of 9385 hit just over 2 weeks ago on Jun 18.
... officially entering a technical bear market...
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