Five Banks Now Confirm the Same War-Profit Pattern Wall Street Would Rather Not Name
Morgan Stanley and BofA join JPM, Citi, and Goldman — five banks, $40B in Q1 trading revenue, zero daily losses at BofA, one war.
Economy
Oil Reversed Course Thursday — The Peace Pricing Was Premature
Brent climbed back to $96.34 after two sessions of decline, as CENTCOM's Day 3 enforcement data repriced the blockade from temporary to structural.
The $150 Billion Tariff Refund Portal Opens Sunday — Consumers Will Not See a Cent
CBP's CAPE portal opens April 20 for IEEPA tariff refunds worth $150B+ — but the money goes to importers, not the consumers who paid higher prices.
Insurance Markets and Crude Oil Are Pricing Two Different Blockades
Crude says diplomacy might work; insurance says ships might sink — and one of these markets is catastrophically wrong.
India Pivots Oil Imports Toward US and Middle East as Russian Discounts Vanish
India is shifting crude imports from Russia to US and Middle East suppliers as Russian discounts shrink from $20 to under $3 per barrel.
Morgan Stanley Holds Brent at $110 for Q2 Citing Slow Supply Recovery
Morgan Stanley maintains its Brent crude forecast at $110 per barrel for Q2 2026, citing slower-than-expected supply normalization.
Energy Stocks Retreat From March Peak in Possible Leading Signal for Oil
Morgan Stanley flags energy stocks falling from their March highs as a potential leading indicator that oil prices may follow downward.
Wells Fargo Says Lower-Income Households Now Spend 25 to 30 Percent of Budget on Fuel
Wells Fargo's CFO says lower-income consumers are spending 25-30% of their budgets on fuel as war-driven energy costs bite.