Iran Hormuz Attack Spree Starts Choking Oil Flows (Again), UBS Warns

Unwanted, Not Unwarranted By Maartje Wijffelaars, senior economist Rabobank Oil prices rose again yesterday, reaching a session high of about $105 per barrel as Iran struck tankers – an outcome our energy analysts warned about if Iran appeared to be losing control over Hormuz. Reports that the US could strike Iran before the midterms and a hurricane hitting US output added pressure. Brent crude then fell after President Trump said talks with Iran were “productive” and that the US would not attack Iran before November’s midterm elections. Oil prices nevertheless remained higher...

The Cuban government said on Wednesday that its coast guard killed four people who opened fire from a US-registered speedboat that entered Cuba’s territorial waters, an incident that comes amid a ramped-up US oil embargo on the country that’s meant to bring about regime change. The Cuban Interior Ministry said in a statement that the […]

Race To Refill U.S. Weapons Stockpiles Will Supercharge War Economy The U.S. military's 55-day war with Iran has alarmingly drawn down several categories of high-end air-delivered munitions, forcing the Department of War to draw from critical stockpiles in Asia and Europe. The drawdown of these weapons only suggests a possible readiness problem and helps explain why President Trump's war economy is set to accelerate, with expected increases in munitions production.  The New York Times has released a report that says since the US-Iran conflict began in late February, the US military...