Brent Settles at One Zero Six as Rules of Engagement Price Through the Curve
The oil tape is no longer reacting to one post; it is pricing a naval doctrine with no short clock attached.
Economy
Treasury Hits Hengli Refinery and Forty Tankers With First China Refinery Sanctions
The Iran oil squeeze has crossed from ships and brokers to a named Chinese refinery two weeks before Trump meets Xi.
Treasury's Russian Oil Waiver Reaches Day Eight as Bessent's Reversal Holds Through the Iran-War Cycle
Eight days after OFAC issued GL 134B — two days after Bessent publicly said it would not be renewed — the waiver is intact, EU pressure unanswered, and the architecture mismatch is now the policy.
Gold Closes Above Four Thousand Seven Hundred as January Record Resets the Curve
Spot gold settled at $4,710.57 Friday with the front-month future at $4,714 — still well off the January realized record above $5,500 that anchors the war-duration curve.
Bessent Posts the Iran Crypto Seizure on X as Treasury Freezes 344 Million in Tron Wallets
OFAC designated two Bank Markazi-linked Tron wallets and Tether froze $344.2 million — the largest on-chain freeze of Iranian sovereign reserves on record, posted by Treasury's Secretary himself.
Dollar Index Holds the High and Ten Year Stays Above Four Three on the Week Close
DXY printed a 1.5-week high and the ten-year settled at 4.31 percent — the cleanest read that the war-duration trade is now priced through the long end, not just the energy curve.