The Oil Market Is Pricing Two Realities — Physical Barrels at $132, Paper Barrels at $97
A $35 gap between physical and futures oil prices shows a market pricing a much deeper supply shock than the headline contracts admit.
Theo Kaplan
Bureau: San Francisco
The Dollar Jumped Again and the Pattern Is Getting Old
The greenback rose 0.38% after blockade news, because in this war every escalation sends money fleeing to the same address.
Trump Admits Gas Prices Could Stay High Through the Midterms
The president who promised cheap gas now says prices could be 'the same, or maybe a little bit higher' by November.
Anthropic's Mythos Model Has Treasury Secretary Summoning Bank CEOs
An AI model that finds decade-old security flaws in every major operating system has Wall Street reconsidering what's defensible.
Tanker Insurance Through Hormuz Has Tripled, and the Voyage Math No Longer Works
A single tanker voyage through Hormuz now costs up to $1.2 million in war risk premiums alone.