'Mr.Gold' Warns Higher Rates Will Blow Everything Up

Crude Presses Higher Amid Fresh Tanker Attacks In Strait Of Hormuz Update(1735ET): It looks like that Iranians have fired on more international vessels in the Strait of Hormuz on Thursday, with the United Kingdom Maritime Trade Operations (UKMTO) Centre within the last couple hours monitoring the below developing situation: UKMTO says it has received a report of two vessels involved in a security incident 4nm West of Khasab Oman The master of the vessel reports seeing four unknown projectiles hit two unknown vessels, causing fire on one vessel, and unsure of the status...

Iran Already Scrambling For Oil Storage After Two Weeks Of US Blockade Trump's blockade is having a predictable effect on Iran's economy and oil industry, with reports that the regime is scrambling to repurpose old and rusty tankers as floating storage.  Kharg Island is hitting capacity and the results could lead to disaster for Iran's oil wells.  The regime is reportedly moving to expand crude storage at the island, where around 90% of their energy exports are processed, by reactivating a 30-year-old crude carrier called M/T Nasha.  It's a bad sign...

O-I Glass Plunges As Gulf Energy Shock Hits Earnings Outlook Glass bottle and jar company O-I Glass plunged the most in premarket trading in more than six years after it slashed its full-year adjusted EPS outlook, blaming higher energy costs tied to the Gulf-related energy shock. The major glass-container manufacturer, producing bottles and jars for the beer, wine, spirits, beverage, and food-packaging markets, now expects adjusted EPS of $1.00 to $1.50, down sharply from its prior forecast of $1.65 to $1.90 and well below the $1.67 Bloomberg Consensus estimate.  Slide 8 detailed...