Yemen Blame Game Begins: "Saudi-American F**k Up Of Epic Proportions"

Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock The global demand destruction playbook we outlined last month, describing how the Gulf energy shock would spread across continents, is now materializing on a large scale. The International Energy Agency said in a Tuesday update that global oil demand will decline this year for the first time since 2020. "The Iran war has thoroughly upended the global outlook for oil consumption," the IEA wrote in its Oil Market Report. "Demand destruction will spread as scarcity and higher prices persist." The IEA...

Citi Expects Oil To Sink To $60 As Hormuz Traffic Normalizes Brent Crude prices could plunge to as low as $60 per barrel by the end of the year, according to the latest note from Citi's commodity research team which expects flows through the Strait of Hormuz to soon normalize and the US and Iran to reach a deal in the coming months. "Fundamentals are rapidly reasserting themselves as Hormuz disruptions fade, with Brent back to the low $70s/bbl. While the US-Iran process remains fragile and disputes over Hormuz administration and...

Following a flurry of Israeli strikes overnight Friday into Saturday killing at least five people in southern Lebanon, Israeli forces continued attacks into Sunday, destroying a hospital in Nabatieh and carrying out strikes that killed an additional four civilians, including two women, and wounded another 20. Ghandour Hospital, in Nabatieh al-Fawqa, was destroyed in Israeli […]