Brent Nears $110 Then Tumbles On IEA Demand Destruction Warning As Houthis Threaten Saudi Oil Escape Route, Diesel Shock Goes Global

WSJ Catches Up, Discovers AI's Off-Balance Sheet Liabilities Are $3 Trillion And Growing $1.2 Trillion Per Quarter More than two months ago, long before most Wall Street analysts had any clue that the bulk of the AI buildout commitments were diligently hidden in various off-balance sheet SPVs and other (perfectly legal) accounting gimmicks, we wrote a lengthy article detailing just that, and explaining why far beyond the $1 trillion (and rapidly rising) in annual plain vanilla capex -- all of which now has to be funded through debt issuance since...

Can't Wait For New Mines: Almonty Taps Spanish Mine Waste To Break West's Tungsten Supply Crisis Days after US miner Almonty struck a major supply deal with Rwanda, Africa's largest tungsten-producing country, the miner is fast-tracking its ascent to, in its own words, "become the leading Western producer of tungsten" as early as 2027. It has now announced a long-term supply deal with Swedish mining equipment maker Sandvik AB, advancing a faster source of expanding conflict-free, non-Chinese tungsten supply ahead of a massive US defense rearmament supercycle.  The deal with Sandvik's Wolfram Bergbau...