Futures Slide As Tech Tumbles On Fears Of AI Slowdown, Oil Jumps

Trump Losing Patience, In 'Revenge Mode' After 13th Consecutive Night Of US Strikes On Iran The latest little peace overture by Washington widely reported Thursday night was apparently a big nothingburger, as on Friday the Iraqi prime minister’s office has denied a New York Times report claiming that Iran rejected a US ceasefire proposal delivered to Tehran by Iraqi Prime Minister Ali al-Zaidi. The fresh statement from the prime minister's office said what was published in the Times was "entirely unfounded" and had "no relation to reality." The statement underscored the temporary nature...

Goldman Warns Nightmare Refining Crisis Could Prolong Diesel, Gas Price Pain Through 2027 Goldman energy analyst Nikhil Bhandari warned in a note on Monday that the global refining system is too stretched to support a full recovery in fuel demand while inventories rebuild. This suggests that fuel prices will remain elevated into next year. Bhandari told clients that refining margins must remain elevated to restrain consumption and limit restocking, keeping demand within the industry's ability to supply diesel, gasoline and jet fuel.  On an ex-China basis, Bhandari expects 300,000 barrels a day of refining...

Iran's Ghalibaf Declares Persian Gulf Oil Flows For 'All Or None' Via The Cradle Iranian Parliament Speaker Mohammad Bagher Ghalibaf declared on 28 August that either all Persian Gulf countries will be allowed to export oil freely or none will, adding that the security of West Asia depends on the withdrawal of US forces. "The equation of this war is clear: either all or none!" Ghalibaf said, adding, "In a region where we don’t sell oil, no one else will sell oil either." The speaker emphasized further, "If our security is not...