Paul Krugman smacks down Trump speech with argument that $4 gas is ‘less than half’ of the Hormuz hit. Here’s what he’s talking about
In a primetime address to the nation Wednesday night, President Donald Trump cast the U.S. effort in Iran as a ...
Tag: Oil
Russia expected a windfall from soaring oil prices, but Ukrainian drones are devastating exports
The U.S. war on Iran set up Russia’s economy for a major rescue after oil prices soared after the closure ...
Dollar dominance is reinforced by the oil trade, but the Iran war could give rise to the ‘petroyuan’
Middle East oil has long been a linchpin of the U.S. dollar’s status as the dominant currency in global trade ...
Saudi pipeline to bypass Hormuz hits 7 million barrel goal
Saudi Arabia’s crucial East-West pipeline that circumvents the Strait of Hormuz is pumping oil at its full capacity of 7 ...
Trump’s war in Iran is costing the U.S. economy 10,000 jobs a month, Goldman Sachs says
The U.S. military conflict with Iran is quietly draining the American labor market, with Goldman Sachs estimating that the oil ...
Iran, the $39 trillion national debt and dedollarization: How Trump exposed America’s Achilles Heel
The year was 1974 and President Richard Nixon had dispatched his Secretary of State Henry Kissinger to Saudi Arabia to ...
Markets wait for Trump and Iran to follow through on Hormuz threats
Wall Street is bracing for a Monday deadline that President Donald Trump set for Iran to reopen the Strait of ...
As Trump eyes Hormuz battle, he could give Iran a ‘taste of their own medicine’ with oil blockade
A potentially decisive showdown to wrest control of the Strait of Hormuz away from Iran is taking shape, with thousands ...
The Strait of Hormuz is the fourth large supply shock this decade. Welcome to the new era of global disorder
In 2020, Covid shut down global supply chains and sent inflation surging. In 2022, Russia’s invasion of Ukraine triggered a ...
Russian warship & sanctioned oil tanker sail through the English Channel ‘on way to break Trump’s Cuba blockade’
A RUSSIAN warship and sanctioned oil tanker has sailed through the English channel and is potentially headed for Cuba. The ...
Stocks haven’t hit bottom yet, says the analyst who called a ‘rolling recession’ when everyone else saw a boom
Morgan Stanley’s Mike Wilson spent years insisting a “rolling recession” was hiding in plain sight while Wall Street celebrated what ...
After Greenland crisis, Trump suggests NATO owes him help on Iran war for U.S. support of Ukraine
Just two months ago, NATO was in the middle of an existential crisis over President Donald Trump’s insistence that the ...
Energy secretary uses Defense Production Act to force Texas oil company to restore Calif. operations
U.S. Energy Secretary Chris Wright directed a Texas-based oil and gas company Friday to restore operations in waters off southern ...
‘Peak war panic’ will likely hit markets in 1-3 weeks, as Trump balks at ceasefire deal
The S&P 500 is only down 3% so far this year and 5% off its all-time high, still far from ...
US lifts sanctions on some Russian oil, about 5-6 days’ worth of shipments from Strait of Hormuz
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due ...
The shadow fleet and illegal oil are still moving through the Strait of Hormuz
Iran has threatened to destroy any ships, including oil tankers, that pass through the strait from the oil depots of ...
Oil prices soar past $100 and Dow futures sink 900 points as Iran war spirals into worst-case fears
Just over a week into the U.S.-Israeli war on Iran, Wall Street has started to price in a prolonged conflict, ...
Despite rising prices, Trump downplays need to tap Strategic Petroleum Reserve
Oil prices have soared in the week since the U.S. and Israel launched their war against Iran, but President Donald ...
Best protection for ships sailing through Strait of Hormuz may be claiming to be a ‘Chinese’ vessel
The Strait of Hormuz isn’t completely closed as several daring ship captains have risked attacks from Iran to transport cargoes ...
UAE and Kuwait start oil output cuts after Hormuz blockage
The United Arab Emirates and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples ...
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