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US Energy Sec. Wright Says Saudi's Critical East-West Oil Pipeline Will Restart "Very Soon"
US Energy Sec. Wright Says Saudi's Critical East-West Oil Pipeline Will Restart "Very Soon"
Summary:
AP News Says East-West Pipeline Fix 3-5 Weeks
US Energy Sec. Wright Tells BBG TV East-West Pipeline Will Be Online "Very Soon"
Oil Surges As Saudi Pipeline Crisis Puts 4% Of Global Supply At Risk; Bernstein Warns Of $150 Crude
Wright Tries To Calm Energy Markets
US Energy Secretary Chris Wright joined Bloomberg TV to calm energy markets after last week's drone attack hit a pumping station on Saudi Arabia's East-West pipeline, prompting its immediate shutdown. The pipeline bypasses the Strait of Hormuz...
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Jun 26, 2026 / Tyler Durden
How Resilient?
How Resilient?
By Bas van Geffen, senior macro strategist at Rabobank
A cargo ship was hit by an unknown object near the coast of Oman yesterday. The vessel took some damage, but the company reported that “crew, vessel, and cargo are all safe.”
The ship has since left the strait, and tankers continue to transit. Still, these attacks force a rethink about the safety of the Strait of Hormuz, just as shipping from the Gulf region was starting to pick up again. The International Maritime Organization temporarily halted its evacuation plan for...
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Jul 30, 2026 / Tyler Durden
Porsche To Cut Over A Third Of German Jobs As Auto Crisis Deepens
Porsche To Cut Over A Third Of German Jobs As Auto Crisis Deepens
Via Remix News,
Porsche is preparing to cut more than one in three jobs in Germany under a cost-cutting measure intended to protect its remaining workforce and existing production sites until 2035.
The Stuttgart-based sports car manufacturer will eliminate a further 5,000 positions at its main Zuffenhausen plant and Weissach development center. Combined with reductions already announced, around 8,900 employees are expected to leave the company.
The cuts are due to be carried out without compulsory redundancies, primarily through natural...
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May 28, 2026 / Tyler Durden
Remarkable Turns Of Events
Remarkable Turns Of Events
By Michael Every of Rabobank
It’s remarkable screen oil prices are little changed at below $100 today after Trump said the US is “not satisfied” over talks with Iran, days after claiming a deal was imminent, and hours after saying the terms the Iranians had leaked that the US agrees to --a real TACO-- were a “complete fabrication.”
It’s more remarkable when Trump added Iran and Oman will not control the Strait of Hormuz, which they say they will; vowed to blow up Oman if it misbehaves; struck...
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