Podcasts about SPR

Another good month – investors are giddy. Oil – CRITICALLY LOW inventory (Inside Baseball). Fed governor admits inflation is hard to control. A major name says they are reducing stocks – but are they really? Announcing the Winner of the CTP for Salesforce (CRM). PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? PayPal.Donation.Button({ env:'production', hosted_button_id:'JJJHP2GDEJC7J', image: { src:'https://www.paypalobjects.com/en_US/i/btn/btn_donateCC_LG.gif', alt:'Donate with PayPal button', title:'PayPal - The safer, easier way to pay online!', } }).render('#donate-button'); Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm-Up - Another good month - investors are giddy - Oil - CRITICALLY LOW inventory (Inside Baseball) - Fed governor admits inflation is hard to control - A major name says they are reducing stocks - but are they really? - Announcing the Winner of the CTP for Salesforce Markets - Huge reversal in Software stocks - A few names on the move - and moving BIG! - SpaceX IPO - could drain markets - More AI valuations through the roof Pizza Mouth ! Reversal - Software stocks bounced this week on strong results from Snowflake and Okta, which both recorded their best days on record. - The results signal that investors may have been too quick to declare the end of software with the emergence of artificial intelligence. - Even as AI displaces certain tools and job functions, many software companies continue to show growth, assisted by their own AI products. - The iShares Expanded Tech-Software exchange-traded fund rose 8% this week and closed May up 21%, the best monthly performance for the ETF since October 2001. - With this month's rally, the iShares software ETF is only down 3.8% for the year, still badly trailing the Nasdaq, which has gained 18% in 2026. Snowflake - Amazon said Wednesday that its cloud division has landed a $6 billion spending commitment from Snowflake, which includes the use of the company's custom silicon and chips for artificial intelligence. - Snowflake's purchase of services and technology from Amazon Web Services will occur over five years, according to a press release about the agreement. - Snowflake intends to expand its use of Amazon's Graviton general-purpose chips, as well as cloud-based graphics processing units for AI. - Snowflake and Amazon are frenemies - they compete but also partner with each other. - Stock up 36% on this news DELL!!!!!!!!!!!! - Dell Technologies Inc. shares surged due to an outlook for annual sales that far surpassed expectations on demand for servers that power artificial intelligence work. - Revenue in the fiscal year ending in January 2027 will be about $167 billion, including $60 billion from the sale of AI servers, topping analysts' average estimate of $142.1 billion. - The company booked $24.4 billion in AI orders and generated $16.1 billion in AI server sales in the quarter ended May 1, with Chief Operating Officer Jeff Clarke saying “The AI opportunity shows no signs of slowing.” - The shares surged 33% to $420.91 at the close Friday in New York, the biggest single-day increase in the more than seven years since the hardware maker returned to the public markets after a five-year hiatus as a private firm. - Up 150% YTD More Dell - New XPS 13 at $699 targets price-sensitive market - Aims to compete with MacBook Neo, lower-end Windows devices - Launch amid global memory chip crunch to gain market share - WINING OVER JCD: -- 13.4-inch screen (very compact footprint) Options: 2K / 2.5K LCD (120Hz) OLED touchscreen (higher contrast)| - Very thin bezels ? almost edge?to?edge screen - Weighs 2.2 lbs - one of the lightes out there and a rival to Apple's Macbook Neo Infighting - OpenAI may release multi-chip AI software, challenging Nvidia's (NVDA) ecosystem advantage, according to The Information - Oh, and NVDA is now releasing a CPU for PCs that is aggrevating Intel and AMD Kaboom! - Blue Origin's New Glenn rocket exploded in a massive fireball while undergoing a test on a Florida launchpad, dealing a major setback to the company. - The explosion is the latest blow to New Glenn's reputation as a reliable alternative to SpaceX's Falcon 9, and Blue Origin's launch schedule is certain to suffer significant delays. - The incident will also affect Amazon's ambitions to build out its Leo satellite network and may delay Blue Origin's role in NASA's Artemis program, which aims to send humans back to the moon. - As important as it will be for Blue Origin to diagnose the cause of the rocket explosion, it could take many months to repair its launchpad in Florida. Taking Down - Really? - BlackRock Inc. is trimming its bet on stocks across its model-portfolio business as US equities surge to record highs following a strong earnings season. - The firm cut its overweight position in equities from 3% to 1%, triggering billions of dollars of flows between BlackRock's exchange-traded funds. - BlackRock remains confident in equities and will maintain positions that bet on growing corporate profits, artificial intelligence and government spending, but is rotating away from longer-dated US debt in favor of global fixed-income and liquid alternatives. Slight - SpaceX is targeting a valuation of at least $1.8 trillion in its initial public offering, according to people familiar with the matter. - The company is seeking to raise as much as $75 billion, which would make it the biggest IPO of all time, and is expected to start formal marketing of its IPO as soon as June 4. -SpaceX had $18.7 billion in revenue in 2025, and the company's pitch to investors shows its evolution into an AI services and infrastructure giant with a total addressable market of $28.5 trillion. - 3-5% of the shares will be floated (TIGHT) Strategy: keep supply constrained, which: supports price discovery maintains founder control creates early scarcity dynamics - - - SpaceX has reserved 5% of the shares ?in its planned initial public offering for certain employees and individuals selected by its executive officers, exempting them from post-IPO lock-up restrictions AND.. Even more Valuations - AI giant Anthropic is now worth more than OpenAI. - Anthropic announced a $65 billion Series H financing at a $965 billion valuation, a round led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital. - The financing puts its valuation above that of rival AI lab OpenAI. - The valuation has TRIPLED since February Let's GO! - Shares of LG Electronics surged as much as 24% after the company announced a series of automotive innovations built with technology from Alphabet Inc.'s Google. - The company said its new range of solutions is built on Android automotive operating systems. Its system can control multiple displays with different aspect ratios at the same time by using a single-on-chip, which is different from other conventional in-vehicle display systems, LG said. - But 24% on this news? - More reason that the KOSPI is moving higher No One Care - But... - Inflation has been above the 2% target for 5 years now - Minneapolis Federal Reserve President Neel Kashkari said Thursday that bringing down inflation in the U.S. remains his top priority, warning that consumer prices are still “much too high.”| - Speaking to CNBC's Kaori Enjoji at the Bank of Japan-IMES Conference, Kashkari said that the U.S. central bank would continue taking a “balanced approach” to its dual mandate of price stability and full employment. - 5 YEARS! ---- What that tells us is that the Fed is totally unable to do anything about inflation .... Are we the only ones that see that? Inside Baseball - From a colegie that will go un-named. --- Let's just say he is someone who knows what they are talking about and runs BIG money ----- This is what he said to me..... - Apparently, oil execs were opining with POTUS in meetings yesterday that oil inventories are at alarmingly low levels and oil prices could soon skyrocket (I might soften that language a bit but they know the oil biz better than me) if SoH does not open soon. - I ran a few numbers on total oil inventories including and excluding the SPR. - Total supplies are 10th percentile vs history (although that includes a period when the SPR ramped from 0 to 600mln barrels in the 1980's). - Today it is 4th percentile if you start from 1990 when the SPR was basically full. - The 4 week net and % draw the last 3 weeks are the largest draws of all time. - And not surprising the 1 week net and % draw of the SPR are also the 2 largest draws of all time the last 2 weeks. Surprised - No.... --- This is another story similar to what we saw a few months ago - Taiwan prosecutors suspect that three individuals smuggled at least one shipment of Nvidia Corp. AI chips to China after first exporting them to Japan. - The trio was detained for allegedly falsifying documents related to exports of Super Micro Computer Inc. servers containing advanced Nvidia chips, which the US has barred from sale to China without a license. - Taiwan authorities seized about 50 servers for which they accuse the trio of preparing fraudulent export documents, but at least one shipment had already gone through Taiwan customs and made it to Hong Kong. Under/Over? - Tesla will be somehow folder/merged or taken over by SpaceX in an all stock deal - Tesla market cap is $1.6 Trillion so that will be a tough one to take on as SpaceX is about equal in size. ---- If this happens, when ? Mini Retirement - Is this a THING? - A mini retirement is when you take a planned break from working, usually for a few months to a couple of years, instead of waiting until age 65+ to fully retire. - Tim Feerris popularized this... (4 day workweek dude) Step 1: Work & save aggressively 2–10+ years Build a specific “freedom fund” Step 2: Take time off 3 months to 2 years Travel, recharge, pursue interests, or experiment with new ideas Step 3: Return to work Same career… or pivot to something new Then repeat if desired.   Love the Show? Then how about a Donation? Announcing the THE CLOSEST TO THE PIN for SALESFORCE (CRM)   Winners will be getting great stuff like the new "OFFICIAL" DHUnplugged Shirt!     FED AND CRYPTO LIMERICKS   See this week's stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter

Trump and Bessent's $250 bill photo sums up the current moment, but under the surface the economy is tearing apart. AI stocks are ripping while credit card delinquencies hit 2008 levels. We get into why oil is artificially cheap, why data centers are becoming a political target, and the Bitcoin developments everyone is ignoring.

Du trainierst mehr, isst bewusster – trotzdem kneift die Jeans an Stellen, die früher nie ein Thema waren. Willkommen in der Perimenopause: einem Spiel, bei dem sich die Regeln plötzlich ändern. Ohne Vorwarnung, ohne Anleitung.Die gute Nachricht: Echte Fortschritte sind in dieser Phase trotzdem möglich. Jenni ist der Beweis. Sie ist 49, mitten in den Wechseljahren – und hat im letzten Jahr ihre Kraftleistung um 10 Prozent gesteigert. Bei 17,9 Prozent Körperfett, gemessen per InBody. Akt 2 ihrer Geschichte, fünf Jahre nach ihrem ersten Besuch hier im Podcast.In dieser Folge erfährst Du:Warum nüchtern trainieren für viele Frauen ab 45 nicht mehr funktioniert – und was stattdessen wirklich Energie bringtWie Jenni ihre Kraftleistung mit fast 50 weiter ausbaut – und was sie heute anders macht als mit 40Was Hormontherapie heute kann – dogmenfrei eingeordnetWie Du auf Deine Proteinmenge kommst, ohne im Kalorien-Zählen zu versinkenWarum Sprints zurück in Dein Training gehören – und wie Du sicher startestViel Spaß mit dieser Folge!____________*WERBUNG: Infos zum Werbepartner dieser Folge und allen weiteren Werbepartnern findest Du hier.

Helena Pánková vystudovala krajinářskou architekturu v Brně. Mimo jiné se podílela na přípravě založení příměstského parku Soutok, od roku 2020 spravovala park Národní kulturní památky Vyšehrad a v současnosti je ředitelkou odboru parků a zahrad Správy Pražského hradu. „Vyšehrad je překrásný park, úžasné místo, ale z hlediska krajinářské architektury je to přeci jen něco jiného než zahrady Pražského hradu,“ srovnává. Jaké dědictví v těchto zahradách zůstává po staletí?Všechny díly podcastu Host Radiožurnálu můžete pohodlně poslouchat v mobilní aplikaci mujRozhlas pro Android a iOS nebo na webu mujRozhlas.cz.

What if a quiet seaside pub held secrets that defied time, logic, and belief? In Paranormal Perspectives: The Royal Oak Investigations, paranormal researcher Ashley Knibb takes readers on a chilling, deeply personal journey through more than a decade of ghostly encounters, unexplained phenomena, and life-altering revelations at a historic English pub.Ashley joins me to discuss his investigations, his work as a council member for the legendary SPR and his work as part of the Society's Spontaneous Cases team, visiting haunted homes in the UK. Ashley's book can be found here:Ashley's website is here:The SPR can be found here: A big thank you to Ashley for joining me! Our Patreon is live, if you want to support the show and get Ad-Free episodes, bonus content, early release of the regular show and monthly prizes for everyone who signs up!Join now for $4 a month!You can also support the show by leaving a review to help spread the word.Don't forget, you can now show your support with our brand new Merchandise shop on Tee-Public!Click here for all the show merch!You can join us on Facebook and Instagram as well.You can also subscribe to our YouTube channel!Email us at mysteriesandmonsters@gmail.com with any feedback, guest suggestions or if you'd like to appear.           All artwork by Dean Bestall and the show was produced by Brennan Storr of the Ghost Story Guys. Our theme music is kindly provided by the amazing Weary Pines, you can find them here:  Intro - Zombies Ate My Shotgun     Outro - Into The Night #AshleyKnibb #Haunting #TheRoyalOak #Dorset #Swanage #Ghosts #Ghost #Poltergeist #Apports #Visitations #Time #SPR #Investigation #SocietyForPsychicalResearch #FestivaloftheUnexplained #Energy #TonyCornell #MauriceGrosse #HarryPrice #GuyLyonPlayfair #TheRoyalOakInvestigations #ParanormalPerspectives #6thbooks

It's Hood strawberry season here in Portland, Oregon and we have strawberry fever here at the Coffee Sprudgecast. Hood season also means it's Build-Outs of Coffee season and hosts Jordan Michelman and Zachary Carlsen are champing at the bit to kick things off next week. Will this be the biggest build-outs season ever? To take build-outs buzz to 11, the hosts share a Strawberry White Chocolate Mocha using 1883 Strawberry Syrup, Hollander Chocolate's White Chocolate Café Sauce, La Barba Deviation Espresso and Pacific Barista Series Pistachio milk. Is there such a thing as too much buzz? Perhaps, and to smooth out, the hosts share a Hario v60 pour-over of Honeymoon Coffee's House Blend. We're gear heads over here and had the chance to try the new Themis Ultra. Is it thee-mis or teh-miss? Is it Sprudge like fudge or Sprüdge like stooge? We could spend a city block's worth of electricity and 100 gallons of water asking a chat bot for the answer and tell us how beautiful we are or we could just pronounce it however we like. One last thing: The Barista Champion Database is collecting data, and if you've ever been a coffee champion of anything, please submit your stats so we can launch the biggest database of Barista Champions in the known universe. This episode of the Coffee Sprudgecast is sponsored by DONA, Pacific Barista Series, and La Marzocco.

8 Jahre single und genug davon. Aber sind Dating-Apps überhaupt das Wahre und sollte man aktiv auf die Suche gehen? Oder wird das dann eh nichts, weil nach der Liebe sucht man nicht, sie findet einen einfach? Und kommt es nicht eh immer, wenn man gar nicht damit rechnet? Sprechen heute über die klassischen Sprüche, die sich Singles regelmäßig anhören dürfen. Darüber, wie wir uns in der Situation verhalten würden. Und wie wir den Datingmarkt aufmischen würden. Nachrichten an hey@paarspektiven.deCODES:https://linktr.ee/paarspektiven Hosted on Acast. See acast.com/privacy for more information.

May 20, 2026 - Zach and Chase discuss why markets continue reacting to every new “imminent peace” headline even as the underlying energy and inflation pressures keep worsening beneath the surface. They break down the latest Strait of Hormuz developments, why oil markets may still be dramatically underpricing future shortages, how SPR releases are masking deeper inventory problems, and why rising bond yields may be the real warning sign investors should be watching. They also discuss inflation risks, housing pressure, Nvidia earnings, semiconductor valuations, and why policymakers may be running out of realistic options.

May 19, 2026 - Zach and Chase discuss why bond markets may finally be waking up to the inflationary consequences of the global energy disruption as yields surge and investors continue underestimating the fragility of the system. They break down the latest Strait of Hormuz developments, why SPR releases and exports may only be temporary relief valves, how energy shortages could create delayed but violent inflation waves, and why markets still appear dangerously complacent about physical supply realities. They also discuss China, housing pressure from rising rates, AI infrastructure spending, and why many investors may still be treating this like a normal cycle when it clearly is not.

“Si vis pacem, para bellum”, “si tu veux la paix, prépare la guerre”. Pour Maître Patrice Spinosi, cette maxime s'applique désormais à l'État de droit.La Parole est à la Défense du droit donne la voix à celles et ceux qui alertent sur les menaces qui pèsent sur nos libertés fondamentales et nos institutions.Dans cette interview, Patrice Spinosi, avocat au Conseil d'État et à la Cour de cassation, revient sur l'affaiblissement progressif des libertés publiques observé depuis plusieurs années sous l'effet des législations d'exception et des dispositifs sécuritaires. Il explique comment certaines mesures initialement conçues pour lutter contre le terrorisme ou le narcotrafic peuvent progressivement devenir des outils de surveillance ou de restriction des libertés individuelles. Invité : Patrice Spinosi, avocat au Conseil d'État et à la Cour de cassation, auteur de Menace sur l'État de droit, Allary ÉditionsMerci à : Denys de Béchillon, Professeur émérite des universitésPréparé et animé par : Donia Necib, journaliste Lefebvre DallozRéalisé par : Donia Necib, Jérémy Martin, journaliste Lefebvre Dalloz, et Laurent Montant, rédacteur en chef, rédaction e-média, Lefebvre DallozCrédits : Sarkozy-Condamnation d'une « gravité extrême pour l'État de droit », AFP (76Q8663)Musiques : artlist ;  Meriem Ben Amor - Ruhi - Carmen Rizzo Remix ;  Veshza – Null ;  Romeo - North of Hope ; Luminae wave - Violin Resonance ; Jimmy Svensson-Unknown DarknessHébergé par Ausha. Visitez ausha.co/politique-de-confidentialite pour plus d'informations.

I denne episoden snakker Ingrid Fiksdal og Louis Schou-Hansen om sitt kunstneriske samarbeid og hvordan de utforsker det barokke og hoffballettene skapt for Ludvig XIV som en måte å kommentere på spøkelsesaktige, regenererende strukturer som sitter igjen i både samfunn og dansekunstverdenen. Forestillingen The Court vises på Dansens Hus 28.-31. mai.Språk: Norsk og dansk

May 18, 2026 - Zach and Chase discuss why energy markets may be far closer to a breaking point than investors realize as global inventories continue tightening and policymakers scramble to manage the fallout. They break down the latest Strait of Hormuz developments, why SPR drawdowns and U.S. exports may be masking deeper shortages, how China is positioning itself strategically, and why markets still appear dangerously complacent about inflation and supply risks. They also discuss rising bond yields, housing pressure, AI infrastructure spending, and why the next phase of this cycle could look very different from the last decade.

Norske bønder tar opp 10–20 millioner kroner i lån – på eget navn, med personlig ansvar. Går det galt, går alt galt. Det er ingen andre næringsdrivende i Norge som ville akseptert de vilkårene.Jørn Erik Toppe er siviløkonom fra NHH, og fjerde generasjons gartneri. Han tok over Toppe Gartneri rett nord for Bergen for tre år siden, sammen med kona. I dag produserer de sommerblomster, jordbær og salat fra veksthus og tunneler i en bratt fjordside der det regner mye.Vi er innom årshjulet til et gartneri som starter med tomatsåing i siste uke av desember. Vi snakker om jordbærplanter som dypfryses i Nederland, pakkes ut igjen i februar og egentlig bærer med seg fjorårets blomster inn i sesongen. Vi er innom smaksproblemet med norske jordbær – plukket for tidlig for å overleve fem dager i en lastebil. Og vi tar en tur gjennom historien om norsk roseproduksjon, som ble fullstendig utradert av afrikansk import i løpet av to år.Jørn Erik forteller om hva som skjer når du prøver å komme inn i grossistsystemet som ny aktør, om valget om å heller ringe direkte til frukt- og grøntansvarlig i lokale Meny-butikker, og om arbeidet i grøntutvalget i Vestland Bondelag med å endre tilskuddsstrukturene for de minste produsentene. Og til slutt: hvorfor han mener det er galskap at norske bønder bærer 10–20 millioner i personlig gjeld – i stedet for å organisere seg som alle andre.God fornøyelse!01:19 Toppe Gartneri og Jørn Erik06:45 Hva produserer de?08:22 Årshjulet13:30 Salat og restaurantleveranser18:28 Cannabisindustrien og lysteknologi25:47 Jordbærplanter fra Nederland – dypfryst32:19 Direkteavtale med Meny Bergen35:22 Jordbær og smak39:13 Grøntutvalget i Vestland Bondelag44:44 Norsk roseproduksjon ble utradert50:01 Industribær og syltetøy forsvunnet56:31 Arealtilskudd og trappetrinn01:17:24 Sprøytefri sesong – første gang01:20:32 Biokull og pyrolyse01:26:04 Bønder bør ikke drive i enkeltmannsforetak

Jednou z museálních expozic Správy Krkonošského národního parku je Šindelka v Harrachově. Šindele se v žulovém domě nedělají už téměř 100 let, za to je tam řada věcí, připomínajících už málo známých, ale stále aktuálních činností spojených s lesem a myslivostí.Všechny díly podcastu Vybrali jsme pro vás můžete pohodlně poslouchat v mobilní aplikaci mujRozhlas pro Android a iOS nebo na webu mujRozhlas.cz.

Wie hat dir die Folge gefallen?Gut

May 18, 2026 - Zach and Chase are joined by Josh Young of Bison Interests to discuss why global energy markets may be far more fragile than investors realize. Josh breaks down the real inventory math behind the Strait of Hormuz disruption, why oil markets have remained surprisingly calm so far, what happens when global storage levels approach “tank bottoms,” and why many analysts may still be underestimating the scale of the risk. They also discuss SPR drawdowns, refinery margins, shale productivity, geopolitical uncertainty, and why energy service companies may offer some of the most asymmetric opportunities in the market today.

Språkpolisen Linnea, Modi på västkusten och vad fan gör en ingenjör? Lyssna på alla avsnitt i Sveriges Radios app. Hela veckans Morgonpasset i P3 hör du i Sveriges Radios app.David Druid rasar mot beslag. Linnea Wikblad vill byta ansikte. Matthew McConaugheys två veckor av frihet. Vi frågar er: Vad fan gör en civilingenjör egentligen? Matilda Rånge från P3 Nyheter om ebolautbrottet och riskerna med att sova med hörlurar. Sen får vi självklart hela Sverige blundar igen och svar på varför det inte finns i podden. Indiens premiärminister Narendra Modi är i Göteborg för att snacka handelssamarbeten. Vi pratar med vår Sydasienkorre Naila Saleem om hur mötet gick. David vill ha mer spektrum i livet och Linnea saknar catchphrase. Vi skickar kärlek till Felicia och ogiltigförklarar Eurovision-resultatet. Sen har vi golfyoutubarna Abbegolf och Stimpen i studion. Vi snackar om hur de vill göra golf mer tillgängligt för unga och varför golfbil är det roligaste med sporten.Tidpunkter i avsnittet:15:00 Nyhetsfördjupning: Nytt ebolautbrott19:14 Modi på toppmöte i Gbg43:24 Nyhetsfördjupning: Riskerna med att sova med hörlurar1:06:54 Abbegolf och StimpenKapitellänkarna ovan leder till avsnittet utan musik i Sveriges Radios app.Programledare: David Druid och Linnea Wikblad.

In Andalusien gewinnen die spanischen Konservativen die Regionalwahl. Allerdings verlieren sie ihre absolute Mehrheit. Derweil fährt die Sozialistische Partei von Ministerpräsident Pedro Sánchez eine Niederlage ein. Was bedeuten die Resultate für die nationalen Wahlen 2027? Weitere Themen: In Kongo-Kinshasa und Uganda breitet sich das Ebolavirus aus. Weil es sich um eine Variante handelt, gegen die es keinen Impfstoff gibt, hat die Weltgesundheitsorganisation den internationalen Gesundheitsnotstand ausgerufen. Wie konnte sich das Virus innert weniger Tage so schnell ausbreiten? Für berufstätige Eltern sind die 13 Wochen Schulferien ihrer Sprösslinge oftmals ein organisatorischer Spagat. Wer übernimmt während dieser Zeit die Betreuung? In der Berner Gemeinde Belp soll deshalb die Vier-Tage-Schulwoche getestet werden. Entsprechend gibt es weniger Ferien.

Bremen – Die Saison ist zu Ende, Haken dran. Dem SV Werder steht nun ein großer Umbruch bevor und die Bremer haben für den Transfer-Sommer bereits eine wichtige personelle Veränderung vollzogen: Markus Pilawa ist neuer Kaderplaner des SV Werder Bremen. Die DeichStube-Podcast-Show eingeDEICHt geht auch in der neuen Folge in die mittelseriöse Analyse: Wie geht Werder jetzt den Transfer-Sommer an – und wird mit dem neuen Kaderplaner alles besser? In der Werder-Podcast-Show eingeDEICHt (bei YouTube und überall, wo es Podcasts gibt) quatscht Host Timo Strömer in Folge 96 mit DeichStube-Chefreporter Daniel Cottäus natürlich über den SV Werder Bremen, notwendige Veränderungen nach einer Saison zum Vergessen, den Kader-Umbruch und den Sommer-Transfermarkt. In eingeDEICHt Folge 96 kommt selbstverständlich auch die eingeDEICHt-Community im „User fragen Loser”-Block zu Wort. Denn in der Werder-Podcast-Show eingeDEICHt, gesendet aus dem DeichStube-Office, erwartet Euch wie immer eine Vollgas-Veranstaltung vollgestopft mit den Themen, die die Fans des SV Werder Bremen beschäftigen: Warum wird in der neuen Saison alles besser? Oder wird es das gar nicht? Und sonst? Viel zu viele Einspieler, allerlei Blödsinn, schlechte Wortwitze, dumme Sprüche, manchmal Werder-Expertise. Cheers und viel Spaß mit eingeDEICHt – Eurem Lieblings-Podcast/Vodcast rund um den SV Werder Bremen!

Diese Zitat setzt den Ton für ein Schlagzeilen-, Sprüche- und Annekdoten-Feuerwerk von und mit Gudjon Valur Sigurdsson. Gogi war nicht nur ein Weltklasselinksaußen, sondern hat auch mit unzähligen Weltstars zusammengespielt und in Weltstädten gelebt. Er gibt einen sehr genauen Einblick in seine Prinzipien als Trainer und erzählt, was seine ersten Worte auf Deutsch waren und wie viel Spaß es gemacht hat, neben Mark Dragunski im Mannschaftsbus zu sitzen. Viel Spaß mit der ERSTEN 7!

Správy. Téma dňa. Ján Pavol II.. Františkáni. Šport.

Hinter Tattoofrei steckt einer der prägendsten Memes der deutschen Tattoo-Pop-Kultur – und ausgerechnet ein Typ, der lieber im Schatten bleibt.Chris hat 2015 aus reiner Langeweile eine Seite gestartet, die zu Spitzenzeiten fast eine halbe Million Follower auf Facebook hatte und einer ganzen Szene den Spiegel vorgehalten hat. In dieser Folge öffnet er zum ersten Mal so ausführlich den Vorhang: über Beiträge, für die er sich heute selbst schämt, über Konversationen, die er nicht mit echten Hatern, sondern mit sich selbst geführt hat, und darüber, wie es sich anfühlt, eine anonyme Kunstfigur am Leben zu halten, bis einem die eigenen Sprüche zum Hals raushängen.Im zweiten Teil geht es um Chris als Kollektor – und um seine zweite Runde: großflächige Laser-Sessions, fiese Heilphasen am Hals, ein Backpiece, das er nur opfert, weil er für seinen Lieblingstätowierer Julian alles riskieren würde, und der Plan, in vier Jahren komplett neu auf der Haut zu stehen. Außerdem im Gepäck: Geschichten von US-Trips zu Dan Hazleton, das brutale Handinnenflächen-Erlebnis bei Luke Ashley und ein sehr ehrliches Gespräch über schlechte Tätowierer, Reue und die Frage, warum man sich freiwillig durch so viel Schmerz quält.Tattoofrei auf Instagram. Lazerchrizzlshizzl auf Instagram.[ WERBUNG ]Bei unseren Werbepartnern könnt ihr richtig sparen - darunter bei Neonsfeer, Murostar, Killer Ink, Cheyenne Tattoo Equipment, CoalBlack oder Caos Nero! Alle Infos auf ⁠⁠⁠⁠⁠⁠www.tftn-podcast.com⁠⁠⁠⁠.

St. Pauli und Heidenheim gehen runter - rettet sich Wolfsburg jetzt über die Relegation? Stuttgart krallt sich die Champions League - aber wie konnte die TSG so zerbrechen? Frankfurt räumt auf, Riera muss gehen - was bleibt vom spanischen Sprüchemeister? Die Bayern feiern die Schale am Marienplatz mit Seitenhieb vom Erzrivalen - war das der fieseste Prank jemals? Nagelsmann nominiert den WM-Kader - kehrt Neuer wirklich zurück?Wir sind zurück auf Twitch: https://www.twitch.tv/fritzundstroh Ihr habt Bock bekommen auf HOLY? Eure Alternative zu ungesunden Soft- und Energydrinks! Dann nutzt doch unsere Rabattcodes und spart bei eurer nächsten Bestellung:FRITZSTROH5 (5€ Rabatt auf die erste Bestellung)FRITZSTROH (10% Rabatt auf alles, auch für Bestandskunden)Nutzt unseren Link und ab dafür in den Warenkorb: https://weareholy.com/fritzstroh/tryMit dem Code „FRITZUNDSTROH“ bekommt ihr bei unserem Partner Matchday Nutrition - Sportnahrung extra für Fussballer - maximalen Rabatt im Shop: http://bit.ly/fritzundstrohpodcast---------------Wöchentlicher Fussball-Podcast mit Max Fritzsching & Michael Strohmaier! Rückblick & Highlights vom Bundesliga-Spieltag und auch ein bisschen 2. Bundesliga - jeden Sonntag neu!Auch als YouTube-Show verfügbar: www.youtube.com/@fritzundstroh_fussballshowClips, Memes und vieles mehr auf Social Media!Instagram: www.instagram.com/fritzundstroh_fussballshow/TikTok: www.tiktok.com/@fritzundstrohX (Twitter): www.x.com/FRITZUNDSTROH---------------Managed by Scaling GmbHBusiness-Anfragen an: info@scaling-agentur.de Hosted on Acast. See acast.com/privacy for more information.

Svētdienas, 17. maija, raidījumā #defacto: Kā iebraukt grāvī ar 4x4? Siliņa mēģina atlaist Sprūdu un zaudē vadības kontroli. Kukulis, kas izbrīna pat rūdītākos “Taureņu pirts” sarunu dalībniekus. Tiesā sāk lietu pret bijušo Rīgas vicemēru Ameriku. Armijas komandieris paziņo par iecerēm plašākai armijas pārveidošanai.

#row-405859890 > .col > .col-inner { background-color: rgb(215, 215, 215); } Beschreibung Rike und Matthias sprechen heute gemeinsam: Es ist wichtig, in bewegenden Zeiten absolut ehrlich und transparent zu sein – jeder in seiner Verantwortung und Möglichkeit! Das Wort Gottes sagt, dass das Gericht am Haus Gottes anfängt. Dabei werden wir gereinigt und vorbereitet, uns immer mehr in das zu verwandeln, was Gott Ehre bringt. Jesus nennt 3 Bedingungen für ein fruchtbares Leben: Reinigung / In Ihm bleiben / Gehorsam. So werden wir mehr und mehr Frucht bringen, damit der Vater in uns verherrlicht wird. Wir lernen dabei, immer mehr zu lieben, auch wenn wir mit Fehlern behaftet sind. Die Gnade ist nicht gegen die Wahrheit, sondern sie reinigt  Gott straft nicht, sondern will zurechtbringen! Die beste ‘Immunisierung’ gegen alle Erschütterungen ist die “Furcht des Herrn – der Weisheit Anfang”. Dann erleben wir das größte Geschenk – den Frieden, der unser Herz bewahrt und festigt – in guten und herausfordernden Zeiten! Sie schließen ihre Predigt mit Jesu Gleichnis vom Pharisäer und Zöllner. Das offenbart uns das Herz des Vaters, Seine Barmherzigkeit. Jesus spricht heute: Bitte öffne mir deine Herzenstür, lass Ihn deinen Gott und König sein! : 1.Pet. 4,17 | Joh. 15,1-8 | Gal. 6,1-10 | Psalm 111,10 | Gal. 5,22 | Spr. 4:23-24 | Lukas 18,9-14 #gap-945865421 { padding-top: 15px; } Predigtskript #gap-1839527387 { padding-top: 50px; } zurück zu Predigten

Oje – werden wir alt? Jana und Lars müssen sich plötzlich ernsthaft Gedanken über ihren 40. Geburtstag machen. Wie will man feiern? Groß, klein, glamourös oder einfach verschwinden? Währenddessen hatte Ramon eine ganz andere Erfahrung: eine wilde Party inklusive Bingo-Abend und er wurde tatsächlich zum absoluten Bingo-König. Wir testen auch einen ganz tollen alkoholfreien Aperol-Spritz, ob der schmeckt? 

Dann wird's modisch: Jana beschäftigt eine wichtige Style-Frage, denn ein Trend kommt offenbar zurück: Ballerinas. Kaufen oder lieber lassen? Ramon und Lars sind sich jedenfalls einig: Sie hassen Ballerinas und warnen Jana ausdrücklich davor. Als wäre das nicht genug, denkt sie auch noch über Barfußschuhe nach.

Lars erzählt außerdem eine absurde VIP-Story: Eine der bekanntesten deutschen Prominenten lag plötzlich auf dem Boden – nur um den Hund der Jungs zu beeindrucken. Erfolgreich war die Aktion allerdings nicht.

Zwischendurch droppt Jana einen neuen Lieblingsspruch: „Stil ist nicht das Ende eines Besens.“ Lars kennt ihn natürlich nicht und findet es mega lustig.

Außerdem klären wir zwei herrlich altmodische Begriffe: Nippes und Tinnef. Woher stammen diese Wörter eigentlich und warum benutzen sie gefühlt nur noch Menschen mit sehr dekorativen Wohnungen? Passend dazu sprechen wir über lustige Begriffe und Sprüche aus „Kampf der Realitystars“.

Beauty darf natürlich auch nicht fehlen: Jana gibt neue Einblicke in ihre Pflegeroutine, während Ramon eher die Strategie verfolgt: „Eine Spritze ins Gesicht und alles ist wieder normal.“

Zum Schluss klären wir noch eine Frage, die sich wahrscheinlich jede:r schon einmal gestellt hat: Warum heißt die berühmte Kinder-Schokolade eigentlich „Kinder“?

Eine Folge zwischen Nostalgie, Modewahnsinn, Reality-TV und dem Versuch, stilvoll älter zu werden.

May 14, 2026 - Zach and Chase discuss why markets may still be dramatically underestimating the scale of the global energy disruption despite worsening inventory draws, tightening supply conditions, and mounting inflationary pressures. They break down the disconnect between semiconductor euphoria and physical energy realities, why diesel prices may matter more than crude itself, China's strategic positioning, SPR depletion, freight inflation risks, and why policymakers continue stimulating demand into what they believe is an unfolding supply shock.

Unsere Welt, in der wir für einige Jahre leben wird immer rätselhafter und unerklärbarer. Man kann die schönen Sprüche von “Seid nett zueinander, mehr Mitmenschlichkeit, mehr Humanität, Liebe und Zuneigung für eine Weltgemeinschaft, die in einem Boot sitzt”, kaum noch hören. Diese Sprüche erweisen sich als eine Floskel, weil anscheinend keiner mehr weiß, was Liebe […]

Po co Trumpowi Ziobro? Dlaczego USA narażają stosunki z polskim rządem, przyjmując "Zbiegniewa"? W co gra Donald Trump? Czy chce obalić rząd w Polsce? Czy coś wytargować? Jak to jest, że Trump nie przejmuje się finansami milionów Amerykanów - jak sam powiedział - a najwyraźniej przejmuje się losem jednego Ziobry? Spróbujemy odpowiedzieć na te pytania. USA przyjmują zbiegów z Polski, a Wielka Brytania - wręcz przeciwnie. Na przykład Dominikowi Tarczyńskiemu zakazała wjazdu. Ten bardzo się oburzył, że rząd jakiegoś państwa może decydować, kogo wpuścić do kraju. Mentzen też miał trudności, ale jakoś przeszedł. I tu pytamy was: Czy rząd brytyjski dobrze zrobił, nie wpuszczając Tarczyńskiego? #IPPTVNaŻywo #polityka #Ziobro #Trump #Tarczyński

China's teapot refiners are bleeding, Intel is going vertical on reshoring headlines, and AI benchmark scores are leaving the charts as Trump meets with Xi this week. Three vertical charts tell the story of US leverage across energy, chips, and capital markets, why the AGI buildout is driving industrial policy, and what it means for a labor market already showing cracks. No matter which scenario plays out, the path keeps leading back to the asset with no supply response.

Wer als Frau anfängt, Gewichte zu heben, hört schnell Sätze wie: „Bist Du sicher, dass Du noch mehr Muskeln möchtest?“ Lea Schreiner antwortet darauf mit 230 Kilo Kreuzheben.Die achtfache Deutsche Meisterin und Europameisterin im Powerlifting zeigt in dieser Folge, warum sich Frauen systematisch unterschätzen, was Heidi Klum damit zu tun hat – und wie Du mental stark wirst unter der Hantel.____________*WERBUNG: Infos zum Werbepartner dieser Folge und allen weiteren Werbepartnern findest Du hier.____________

Bremen – Einmal tief durchatmen: Der SV Werder Bremen steigt nicht ab, Trainer Daniel Thioune hat seine Mission erfüllt. Und jetzt? Die DeichStube-Podcast-Show eingeDEICHt geht auch in der neuen Folge in die mittelseriöse Analyse: Welche Note hat sich Coach Thioune verdient, was taugen die Neuzugänge Kenny Quetant und Chuki? Und überhaupt: Wie umfangreich fällt der Kader-Umbruch aus? In der Werder-Podcast-Show eingeDEICHt (bei YouTube und überall, wo es Podcasts gibt) quatscht Host Timo Strömer in Folge 95 mit DeichStube-Chefreporter Daniel Cottäus natürlich über den SV Werder Bremen: Ist der SVW weiterhin erstklassig, weil drei Mannschaften noch schlechter sind? Stürmer Kenny Quetant wechselt von Le Havre AC nach Bremen, Mittelfeldspieler Chuki kommt von Real Valladolid – wie plant Werder mit den ablösefreien Neuzugängen? Und was hat Trainer Daniel Thioune vor? In eingeDEICHt Folge 95 kommt selbstverständlich auch die eingeDEICHt-Community im „User fragen Loser”-Block zu Wort. Denn in der Werder-Podcast-Show eingeDEICHt, gesendet aus dem DeichStube-Office, erwartet Euch wie immer eine Vollgas-Veranstaltung vollgestopft mit den Themen, die die Fans des SV Werder Bremen beschäftigen: Wird in der neuen Saison alles besser? Und sonst? Viel zu viele Einspieler, allerlei Blödsinn, schlechte Wortwitze, dumme Sprüche, manchmal Werder-Expertise. Cheers und viel Spaß mit eingeDEICHt – Eurem Lieblings-Podcast/Vodcast rund um den SV Werder Bremen!

Donate (no account necessary) | Subscribe (account required) Join Bryan Dean Wright, former CIA Operations Officer, as he dives into today's top stories shaping America and the world. In this Friday Headline Brief of The Wright Report, Bryan delivers a major escalation in the war with Iran as U.S. naval and air forces strike Iranian military targets after the IRGC launched drones, missiles, and fast attack boats at American warships moving through the Strait of Hormuz. He explains how President Trump's Project Freedom is back on after Gulf Arab allies reopened their airspace, reassured by U.S. retaliation and new guarantees of protection against future Iranian attacks. Bryan also breaks down Tehran's latest defiance, including a new agency demanding a $2 million toll in Chinese currency for ships passing through Hormuz, and warns that Iran may be preparing for a long war of attrition with quiet help from China through continued drone and military supply shipments. He also covers a possible domestic energy solution as the White House considers expanding oil drilling on U.S. military bases and federal lands, alongside a sweeping redistricting battle across Louisiana, Tennessee, South Carolina, Georgia, Mississippi, and Alabama that could permanently shift House control toward Republicans by 2028. Bryan argues these fights are no longer optional, but central to the survival of the GOP in what he sees as an era of permanent political warfare. Plus, Bryan responds to former President Obama's praise of New York socialist mayor Zohran Mamdani, exposes confirmed manipulation of crime statistics in Washington, D.C., challenges Chief Justice John Roberts' claim that judges are not political actors, and closes with a health update on the hantavirus outbreak tied to a cruise ship from Argentina, explaining why it deserves attention but not panic.   "And you shall know the truth, and the truth shall make you free." - John 8:32     Keywords: US strikes Iran Strait of Hormuz Project Freedom 2026, Trump Iran retaliation naval attacks IRGC drones missiles, Iran $2 million Hormuz toll Chinese currency shipping crisis, China supplying Iran drone engines Caspian Sea war support, oil drilling on military bases Trump energy plan SPR refill, GOP redistricting Louisiana Tennessee South Carolina House seats 2028, Obama Zohran Mamdani socialism New York politics 2026, DC crime statistics manipulation confirmed Washington Post report, John Roberts partisan judges Supreme Court criticism, hantavirus cruise ship outbreak Argentina Andes strain update, Bryan Dean Wright podcast, The Wright Report  

Diese Folge ist für alle Frauen, die sich weiblicher, attraktiver und mehr bei sich selbst angekommen fühlen möchten, aber merken, dass Styling, positive Sprüche oder kleine Übungen allein keine echte Veränderung bringen. In dieser Folge erkläre ich dir ganz genau, warum so viele Frauen beim Thema weibliche Energie an der Oberfläche hängen bleiben und weshalb echte Weiblichkeit nicht durch eine „perfekte Ausstrahlung“ entsteht, sondern durch tiefe innere Arbeit. Du erfährst, was Glaubenssätze, Selbstwert, Nervensystem und alte Beziehungsmuster damit zu tun haben und warum du dich erst dann wirklich weiblich und sicher fühlen kannst, wenn du im Inneren ansetzt. In dieser Folge lernst du:

Latgalē atbildīgie dienesti turpina meklēt otru nokritušo dronu, kas aizvien varētu būt sprādzienbīstams. Pēc drona incidenta Latgales pašvaldībās vērtē civilās aizsardzības gatavību Pēc dronu incidenta Latgalē šūpojas aizsardzības ministra Sprūda krēsls; viņš gatavs uzņemties atbildību. "Azov" virsnieks: Lai sabiedrības noturība un gatavība visa veida – tostarp arī kara – apdraudējumiem būtu augstā līmenī, iedzīvotājus ir jāizglīto jau no skolas sola. Venēcijas biennālē sākas 61. starptautiskā mākslas izstāde. Vai agresorvalstu Krievijas un Baltkrievijas sportisti jau drīzumā varētu atgriezties olimpiskajās spēlēs ar savu simboliku? Starptautiskā Olimpiskā komiteja vakar, 7. maijā, jau reabilitēja baltkrievus, bet krievu statusu nemainīja.

Słuchasz Karolina Sobańska Podcast. W tym programie rozmawiamy o dobrym świadomym życiu, śledzimy trendy i dyskutujemy o tym co dla nas ważne. Moje artykuły znajdziesz na:https://karolinasobanska.substack.com/Spróbuj pierwszych 7 dni za darmo :)inspiracje 2/2026polskie morze poza sezonemhttps://www.instagram.com/lidohotel_jurata/https://www.instagram.com/szpasrestaurant/bieganiehttps://karolinasobanska.substack.com/p/biegam-od-pieciu-minuthttps://karolinasobanska.substack.com/p/fun-run-przez-zycieBalihttps://karolinasobanska.substack.com/p/a-jednak-baliJazda skuteremWózek na lotniskuESIMJoga na Bali, pilates w Polscehttps://paniodpilatesu.pl/ / Reformery https://www.nashestudio.com/ MataNangata, strój do ćwiczeń z merinohttp://nagnata.com/Staniki sportowe Lulu Lemonhttps://www.eu.lululemon.com/Rozdzielacze do stópKopenhaga!Kardamonkihttps://www.instagram.com/rugbakery/Tebirkeshttps://www.instagram.com/hartbageri/Joe and the Juice TunacadoDonburi w RAVENS, WarszawaSaltohttps://www.instagram.com/saltobar_sady?igsh=MXN5Nzc4ZWZ1aGpreg==Tabasco9 months that count forever , Jessie Inchauspéhttps://podcasts.apple.com/pl/podcast/almost-30/id1148183612?i=1000756119763Kulinarna walka klasGrzesznicyDramaI love LADevil Wears Prada 2Kurtka Lacoste https://www.lacoste.pl/damska-kurtka-o-kroju-oversize/bf1508/Zdjęcie okładkowe:Zdjęcia: Borys Synak / Stylizacje: Michał Koszek / Włosy & make up: Aneta Kostrzewa / Post produkcja: Dominik Herman - Retouchingeye / Produkcja: B SIDESBądź na bieżąco :) www.instagram.com/KarolinaSobanska⁠⁠⁠⁠www.karolinasobanska.com⁠⁠ Współpraca: karolina@pasnormal.group 00:00 intro07:00 polskie morze poza sezonem09:47 bliskość z naturą i bieganie18:00 Bali21:49 parę mniejszych inspiracji podróżniczych25:22 joga i pilates31:52 Kopenhaga39:10 rekomendacje jedzeniowe Warszawa41:55 książki, filmy i seriale55:33 podsumowanie

Bremen – Der SV Werder Bremen hat sehr trotz einer 1:3-Pleite gegen den FC Augsburg gute Chancen auf den Klassenerhalt – wohl auch, weil drei andere Mannschaften noch schlechter sind. Die DeichStube-Podcast-Show eingeDEICHt geht in der neuen Folge in die mittelseriöse Analyse: Warum es gerade nicht leicht ist, Werder-Fan zu sein. Bremen – In der Werder-Podcast-Show eingeDEICHt (bei YouTube und überall, wo es Podcasts gibt) quatscht Host Timo Strömer in Folge 94 mit DeichStube-Chefreporter daniel Cottäus natürlich über den SV Werder Bremen, den fragwürdigen Auftritt gegen Augsburg und die Hoffnung vieler Fans, dass am Ende alles gut und in der neuen Saison alles besser wird. Mit Niclas Füllkrug? So steht es um eine mögliche Rückkehr des Stürmers von AC Mailand. In eingeDEICHt Folge 94 kommt selbstverständlich auch die eingeDEICHt-Community im „User fragen Loser”-Block zu Wort. Denn in der Werder-Podcast-Show eingeDEICHt, gesendet aus dem DeichStube-Office, erwartet Euch wie immer eine Vollgas-Veranstaltung vollgestopft mit den Themen, die die Fans des SV Werder Bremen beschäftigen: Sollte Werder Leih-Stürmer Jovan Milosevic halten? Hat Salim Musah das Zeug zum Top-Spieler? Und wäre eine Rückhol-Aktion von Niclas Füllkrug sinnvoll? Und sonst? Viel zu viele Einspieler, allerlei Blödsinn, schlechte Wortwitze, dumme Sprüche, manchmal Werder-Expertise. Cheers und viel Spaß mit eingeDEICHt – Eurem Lieblings-Podcast/Vodcast rund um den SV Werder Bremen!

In a market defined by uncertainty, this episode captures a pivotal moment for Canadian real estate—where economic pressure, policy intervention, and shifting demand are colliding in real time.At the center of the conversation is a clear and somewhat unsettling trend: stress is beginning to surface in the housing system. Mortgage arrears have now risen for three consecutive months, reaching levels not seen in years, while consumer insolvencies in British Columbia have doubled from post-pandemic lows and are now sitting at historic highs. While still modest in absolute terms, the rate of change is what demands attention—signaling that financial strain is building beneath the surface as households face higher borrowing costs and tighter budgets.Layered on top of this is a critical message from the Bank of Canada: stability in interest rates should not be mistaken for relief. The central bank is navigating a narrow path, warning that rates could move in either direction depending on inflation pressures and global economic risks. More importantly, it has acknowledged a fundamental shift—housing is no longer a driver of economic growth, but a drag on it. This marks a significant departure from the narrative that has defined the past decade.The underlying causes extend beyond interest rates alone. Slowing population growth, weakened investor demand, and declining affordability are all converging at once. Nowhere is this more evident than in the oversupply of small, investor-oriented condos in major markets—units that once thrived in a low-rate environment but are now struggling to attract both investors and end users. In response, governments are beginning to step in. The latest Spring Economic Update introduces a series of initiatives aimed at improving housing affordability and supply—from reducing regulatory barriers and expanding mortgage insurance options for multi-unit housing, to accelerating billions in low-cost construction financing. While promising in theory, the effectiveness of these measures remains an open question, particularly as rental markets begin to soften under the weight of record supply.Taken together, the episode paints a picture of a housing market in transition—moving away from the speculative, demand-driven surge of the past decade toward a more constrained, policy-influenced future. For buyers, investors, and developers alike, the message is nuanced but decisive: this is no longer a market that will be shaped by interest rates alone.It is a market being redefined by fundamentals.NEW HOMES COMING TO MARKET:EDWYNhttps://www.lightwellhomes.ca/edwynCOLDICUTThttps://7609coldicutt.com/ _________________________________ Contact Us To Book Your Private Consultation:

Manche nennen ihn den Helge Schneider unserer Generation: Marti Fischer gilt als das musikalische Multitalent im deutschen Internet mit seinen extrem unterhaltsamen Loops und Cover-Versionen. Er schreibt aber auch eigene Songs, und er kann gefühlt jede Person imitieren, die bei Deutschland3000 schon mal zu Gast war – wie ihr gleich hören werdet.Ich hab mir Marti schon richtig lang als Gast gewünscht, wollte aber warten, bis der YouTube-Kanal von Deutschland3000 am Start ist. Denn YouTube ist auch die Plattform, auf der Marti sich zuhause fühlt. Über 860.000 Leute haben ihn da abonniert und feiern ihn für die Leidenschaft und den schrägen Humor, mit dem er uns allen Musik näherbringt.In Martis Kopf ist immer was los und so gibt es in dieser Folge ein paar wilde Sprünge durch Themen, die ihn gerade beschäftigen: In der einen Sekunde sprechen wir über sein Leben mit ADHS, in der nächsten über Gewalt gegen Frauen. Es geht um Panikattacken, seinen großen Traum vom ESC – und warum es vielleicht gar nicht so schlecht war, dass der dieses Jahr geplatzt ist. Und dann spricht Marti auch sehr offen über seine Alkoholsucht und erzählt, wie ihm seine Freundin das Leben gerettet hat. ►►►Deutschland3000 Instagram: @deutschland3000 https://www.instagram.com/deutschland3000 YouTube: https://www.youtube.com/deutschland3000 Marti FischerInstagram: @martifischerhttps://www.instagram.com/martifischer/YouTube:https://www.youtube.com/channel/UC78yJH3WrmLE6AyL0OgPV7g TikTok:https://www.tiktok.com/@marti.fischerEva Schulz Instagram: @evaschulzhttps://www.instagram.com/evaschulz/ ►►►Zum YouTube-Kanal vom ESC kommt ihr hier:https://www.youtube.com/EurovisionSongContest Den Vorentscheid mit Marti Fischer könnt ihr euch hier ansehen: https://www.ardmediathek.de/video/eurovision-song-contest/eurovision-song-contest-2026-das-deutsche-finale/swr/Y3JpZDovL3N3ci5kZS9hZXgvbzIzMDM5MDYDie Deutschland3000-Folge mit Hubi Koch gibt es hier:https://www.ardsounds.de/episode/urn:ard:episode:69e1f6b97a52811d/Wenn ihr selbst Hilfe braucht, findet ihr hier Unterstützung:https://www.ndr.de/n-joy/leben/Euch-geht-es-schlecht-Hier-findet-ihr-Hilfe-,hilfsstellen102.html Zum Battle of the Nerds gelangt ihr hier:https://www.ardsounds.de/sendung/battle-of-the-nerds/urn:ard:show:77786bd1816994bc/ ►►►Host: Eva SchulzRedaktion: Gina Thoneick, Sabine Lebek, Isabella Huber, Axel Schöning, Kim Vanessa Schang und Ruby-Ann SchwiethalTeam YouTube: Javan Wenz, Jana Keifenheim, Camille Laveu, Tim Terborg, Albrecht Elstermann und Fehri LarianiFotografin Cover: Leah RuprechtGrafik Cover: BR/Lena Waldispühl, Simon HeimbuchnerArt Direction Cover: Veronika GrenzebachProduktion: KONTER Studios GmbH und das Sounddesign kommt von Soundquadrat. „Deutschland3000“ ist ein Podcast von N-JOY (NDR) und dem BR für die ARD.(00:00:00) Intro(00:00:07) Intro: Marti Fischer(00:02:05) ADHS-Diagnose & erstes Keyboard mit 10 Jahren(00:05:12) Wie Marti sich Musik selbst beigebracht hat (00:07:42) Wheel of Musical Impressions: musikalische Live-Parodien (00:16:07) Leistungsdruck als neurodivergente Person(00:17:10) YouTube, Klickzahlen & Bauchgefühl vs. Reichweite(00:20:11) Ehrlichkeit lernen: Nein sagen & Grenzen setzen(00:21:00) Kindheit, Elterntrennung & Generationentrauma(00:23:10) Gewalt gegen Frauen: Fall Ulmen-Fernandes & Täter im Freundeskreis(00:31:46) Jugend in Salzgitter & WG-Zeit in Berlin(00:37:42) Erste Panikattacken und die Ursachen(00:44:37) Alkoholsucht: Wie sie begann & wie die Freundin half (00:57:52) Abstinenz & gesellschaftlicher Umgang mit Alkohol(01:01:00) ESC-Vorentscheid: Erfahrungen, Sodbrennen & Ernüchterung(01:07:10) Zukunftstraum: Eigenes Studio statt Social Media

Meet the Lekato ME05 Multi-Effects Processor—a compact, all-in-one guitar powerhouse that looks like it came straight out of a retro handheld game console… but don't let the size fool you. This little unit packs a serious punch. The ME05 features a full range of built-in effects including distortion, overdrive, delay, reverb, modulation, and amp modeling—giving you everything from crystal-clean tones to full-on high-gain shred, all in one portable device. If you want to check out the Lekato ME05 for yourself, I've got a link right below—grab it here:

Bremen – Werder Bremen spielt 1:1 in Stuttgart und holt einen ganz wichtigen Punkt im Kampf um den Klassenerhalt. Reichen dem SVW 32 Punkte sogar schon, um in der Bundesliga zu bleiben? Die DeichStube-Podcast-Show eingeDEICHt geht vor dem Heimspiel gegen den FC Augsburg in die mittelseriöse Analyse. In der Werder-Podcast-Show eingeDEICHt (bei YouTube und überall, wo es Podcasts gibt) quatscht Host Timo Strömer in Folge 93 mit DeichStube-Reporter Malte Bürger natürlich über den SV Werder Bremen und den Saisonendspurt in der Bundesliga: Bleibt Werder mit 32 Punkten drin? eingeDEICHt schmeißt den Tabellenrechner an. In eingeDEICHt Folge 93 kommt aber selbstverständlich auch die eingeDEICHt-Community im „User fragen Loser”-Block zu Wort. Denn in der Werder-Podcast-Show eingeDEICHt, gesendet aus dem DeichStube-Office, erwartet Euch wie immer eine Vollgas-Veranstaltung vollgestopft mit den Themen, die die Fans des SV Werder Bremen beschäftigen. Und sonst? Viel zu viele Einspieler, allerlei Blödsinn, schlechte Wortwitze, dumme Sprüche, manchmal Werder-Expertise. Cheers und viel Spaß mit eingeDEICHt – Eurem Lieblings-Podcast/Vodcast rund um den SV Werder Bremen!

Jiří Svoboda, donedávna ředitel Správy železnic, kterého policie vyšetřuje kvůli podezřelým miliardovým zakázkám a u něhož našla v hotovosti 80 milionů korun, v době svého ředitelování velmi výhodně koupil byty v lukrativních pražských čtvrtích. Realitní firma při prodeji tratila několik milionů korun. Jak je to možné? A jak pokračuje vyšetřování původu peněz, které policisté našli při domovní prohlídce ve Svobodově bytě?Host: Vojtěch Blažek - investigativní reportér Seznam ZprávČlánek a další informace najdete na webu Seznam ZprávySledujte nás na sociálních sítích X, Instagram, Threads nebo Bluesky. Náměty a připomínky nám můžete psát na e-mail zaminutusest@sz.cz

Here's what you'll learn: What's the latest in the Middle East: Escalating tensions, vessel seizures, and military activity are driving continued uncertainty What oil markets are signaling: Prices may not fully reflect the scale of supply loss and inventory drawdowns What the supply math looks like: Lost barrels, limited bypass capacity, and SPR releases are tightening global balances What resolution could look like: Reopening the Strait and restoring production may take months, not weeks What it means for the economy: Higher energy prices could feed into inflation and begin impacting sectors like airlines What investors may be missing: Why energy equities may present opportunity as markets appear disconnected from underlying fundamentals Watch it now to help keep you and your clients on top of current events. Fan of the show? Make sure to like, subscribe and share the episode. Then tune in next week for more timely energy QuickTakes and market insights.

Ak si chce podnikateľ pri kúpe nového auta odpočítať DPH, od januára nastali zmeny. Pribudli nové obmedzenia a povinnosti, ktoré však môžu pôsobiť zmätočne. Platí, že sto percent DPH si môže odpočítať len ten podnikateľ, ktorý auto využíva výlučne na podnikateľské účely a zároveň vedie elektronickú knihu jázd. Daňová expertka Ľubomíra Murgašová zo spoločnosti Grant Thornton v rozhovore upozorňuje, že ak podnikateľ spraví chybu pri vedení knihy jázd, stratí nárok na celý odpočet DPH. Treba myslieť na to, že táto evidencia už musí byť elektronická a nie papierová. „Najviac sa to podobá GPS. Treba tam napísať VIN číslo vozidla, meno šoféra, stav kilometrov na začiatku a konci každej jazdy i mesiaca a účel cesty,“ vysvetľuje expertka. Elektronickú knihu jázd treba viesť presne, pretože daňová kontrola ju môže porovnávať so záznamami napríklad z diaľničných kamier. Taktiež si môže overiť účel stretnutia u druhej strany a všetko musí sedieť. Podľa Murgašovej budú daňové kontroly naozaj detailné, pretože štát môže vďaka týmto zmenám získať významné zdroje do štátneho rozpočtu. Správca dane vie, ktorí podnikatelia si uplatňujú stopercentný odpočet DPH, pretože mu to musia nahlásiť. Zároveň je ich menej ako tých, ktorí sa rozhodnú len pre polovičný odpočet. Podľa expertky však takto nastavené obmedzenie plného odpočtu DPH porušuje zásadu daňovej neutrality. Ak totiž podnikateľ využíva služobné auto na 90 percent na podnikanie a iba desať percent na súkromné jazdy, stále si môže odpočítať len 50% DPH. Zákon v tejto súvislosti tiež rozlišuje medzi konateľom a zamestnancom. Zatiaľ čo konateľ si môže vykázať jazdu z domu do práce ako služobnú, pri zamestnancovi to neplatí. Ak má čisto služobné auto slúžiť zamestnancovi, v noci musí byť zaparkované pri pracovisku. Systém je pomerne komplikovaný a väčšina podnikateľov sa rozhodla pre režim len polovičného odpočtu DPH. „Ak sa niekto nechce stresovať s tým, že nemôže na služobnom aute ani dieťa zaviesť do školy, tak si vyberie režim polovičnej DPH a pri účtovaní pohonných látok pre účely dane z príjmu zasa systém 80:20. Je to pohodlnejšie.“ V zákone je zároveň priestor, ktorý sa dá označiť ako diera v prospech majiteľov veľkých vozidiel, na ktorých sa vozia aj súkromne. Obmedzenie odpočtu DPH sa totiž vzťahuje len na kategórie M1, L1e a L3e — teda osobné autá a niektoré motocykle. Na nákladné vozidlá v kategórii N1 si však podnikateľ stále môže odpočítať plnú výšku DPH tak ako doteraz. Do tejto kategórie však patria aj modely, ktoré mnoho ľudí využíva na bežné súkromné jazdy. Sú to značky ako Ford Ranger, Toyota Hilux, alebo Nissan Navara, či Volkswagen Amarok. Niektorí výrobcovia ponúkajú osobné modely následne upravené a preklasifikované do kategórie N1 — napríklad SUV modely ako Kia Sportage či Sorento, alebo kombíky doplnené o predpísanú priečku medzi nákladovým a osobným priestorom. Aj pre tých platí starý režim odpočtu DPH. Počas používania auta vo firme sa jeho účel môže meniť zo služobného na súkromné a naopak. Ľubomíra Murgašová odpovedá, ako v tom prípade postupovať pri účtovaní DPH. Moderuje Eva Mihočková.See omnystudio.com/listener for privacy information.

Bist du der Freund, den du haben willst? — Dave Kull & Joël Vögeli Das Thema «Sei der Freund den du haben möchtest» von Dave Kull & Joël Vögeli ist Teil der Predigtserie «Real Friends» In dieser Predigt stellen Dave Kull & Joël Vögeli die Frage: „Bist du der Freund, den du haben möchtest?“ Sie erinnern daran, dass Freundschaft lebenswichtig ist (Johannes 15,15; Sprüche 13,20) und geben klare, praktische Schritte: schaffe regelmäßige räumliche Nähe (z.B. Camps, Teams, Small Groups), suche echte Connections statt bloßer Bekanntschaften und gib Beziehungen Zeit und Chemie zum Wachsen. Du lernst verschiedene Freundschaftskreise kennen—Gefälligkeiten, Zweckfreunde, Weggefährten, Herzensfreunde—und bekommst konkrete Tipps für Ehe und Gemeinschaft: halte das Feuer, betet zusammen, habt eine gemeinsame Vision. Wer ist dein Kreis? Wer braucht heute deine Freundschaft? Schau auf Jesus als deinen ersten Freund; er schenkt Identität, Zukunft und tiefe Erfüllung. Steh auf und handle. Um ICF zu unterstützen weiterhin lokal und global relevante Kirche zu bauen hier klicken: https://icf.ch/geben ICF ist eine freie, überkonfessionelle Kirche auf biblischer Grundlage. Authentisch, relevant und begeistert vom Leben mit Jesus. Geleitet von Pastor Leo & Susanna Bigger. Stay Connected Website: https://icf.ch Instagram: https://instagram.com/icfzurich Instagram Leo Bigger: https://instagram.com/leobigger Facebook: https://facebook.com/icfzurich Telegram: https://icf.ch/telegram Eine ICF Kirche in deiner Nähe finden: https://icf.ch/standorte

In der heutigen Folge sprechen die Finanzjournalisten Daniel Eckert und Lea Oetjen über Konsequenzen bei der Lufthansa, ein lehrbuchhaftes Comeback von Albemarle und einen Abschied bei Netflix. Außerdem geht es um Fraport, Gerresheimer, DocMorris, Redcare Pharmacy, PepsiCo, Abbott, Charles Schwab, Autoliv, Ericsson, State Street, Ally Financial, Hermès, Boeing, Lindt & Sprüngli, Hershey, Barry Callebaut, Nestlé, Unilever, iShares Core Dax ETF (WKN: 593393) und iShares Core MSCI World ETF (WKN: A0RPWH). Wir freuen uns an Feedback über aaa@welt.de. Noch mehr "Alles auf Aktien" findet Ihr bei WELTplus und Apple Podcasts – inklusive aller Artikel der Hosts. Hier bei WELT: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html. Hier könnt ihr den AAA-Newsletter abonnieren: https://www.welt.de/newsletter/article232797673/Alles-auf-Aktien-Der-taegliche-Boersen-Newsletter-fuer-WELTplus-Abonnenten.html Und - ganz neu: AAA gibt es jetzt auch auf Instagram: https://www.instagram.com/alles_auf_aktien/ Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

Po 38 dňoch si svet môže aspoň sčasti vydýchnuť. Spojené štáty a Irán sa dohodli na prímerí a plánujú rokovať o mieri. Každý sa vidí ako víťaz a každý má o mierovej dohode vlastnú predstavu. Donald Trump dosiahol len diskutabilný úspech a ešte viac sa vzdialil od Európy – svojho najdôležitejšieho spojenca. V závere vojny popustil emóciám uzdu viac než zvyčajne a v priamom prenose sa vyhrážal vojnovými zločinmi. Správy o otvorení Hormuzského prielivu upokojili akciové trhy a znížili ceny komodít. Ako sa prímerie rodilo a bude jeho výsledkom mier? Nielen to rozoberá Nikola Šuliková Bajánová so spolupracovníkom denníka SME Branislavom Ondrášikom. Zdroje zvukov: Youtube/ABC7, Youtube/Sky News, Youtube/ABC News, Youtube/Bloomberg Podcasts Odporúčanie: Už dnes večer sa uskutoční odovzdávanie národných filmových cien Slnko v sieti. A keďže túto udalosť odmieta vysielať verejnoprávna televízia, ako to zvyklo byť v minulosti, sledovať ju môžete online o 19.00 h, a to na www.slnkovsieti.sk. Rok 2025 bol pre slovenskú kinematografiu úspešný a silný, takže nie je o čom. Oplatí sa pripojiť sa a aspoň takto vyjadriť podporu všetkým, ktorí na filmoch pracujú. – Všetky podcasty denníka SME nájdete na⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ sme.sk/podcasty⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Odoberajte aj audio verziu denného newslettra⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ SME.sk⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ s najdôležitejšími správami na⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ sme.sk/brifingSee omnystudio.com/listener for privacy information.

As the Strait of Hormuz continues to be a chokepoint for oil, our Global Head of Fixed Income Research Andrew Sheets and our Head of Commodity Research Martijn Rats discuss possible outcomes for the interconnected market.Read more insights from Morgan Stanley.----- Transcript -----Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley. Martijn Rats: I'm Martijn Rats, Head of Commodity Research at Morgan Stanley. Andrew Sheets: And today in the program: Oil flows through the Strait of Hormuz remain restricted. The implications for global energy markets and what may lie ahead.It's Wednesday, April 1st at 2pm in London. So, Martijn, it's great to sit down with you again. Three weeks ago, we were having this conversation; a conversation that was a little bit alarming about the scale of the disruption of the oil market with the closure of the Strait of Hormuz, and how that could have ripple effects through the global economy. Three weeks later, oil is still not flowing. What is happening? And what has maybe surprised you? Or been in line with expectations over the last couple of weeks? Martijn Rats: Yeah. Many things have been in line with expectations, in the sense that we're seeing the effects of the closure of the strait the earliest in regions that are physically the closest to the strait. So, we saw the first examples of physical shortages in, say, the west coast of India. Then we saw examples from the east coast of India From there on it's reverberated throughout Asia, where now governments have announced a whole host of. Effectively, energy demand, uh, management measures, uh, work from home, kids staying at home from school, um, cancellation of flights. There are quite many through, through Asia Also in Asia, we're seeing the type of prices that you would expect with this situation. Bunker fuel for shipping, somewhere between $150 to $200 a barrel. Jet fuel over $200 a barrel. Naphta going into Japan; naphta normally trades well below the headline price of Brent. Now $130 a barrel, that's more than double what it was in February. So, those things tell the story of this historic event. What has been surprising on the other end is how slow the reaction has been in many of the oil prices that we track the most. Like… Andrew Sheets: The numbers people will see on the news. You know, it's $100 a barrel maybe as we're talking. Martijn Rats: Yeah. It's strange to see jet fuel cargoes in Rotterdam more than $200 a barrel, but then the front month Brent future only trading at [$]100. That spread is historically wide and very surprising. But look, there are some reasons for it. The crude market had more buffers. There are a few other things. But how slow Brent futures have rallied? That has been somewhat surprising. Andrew Sheets: But you know, from those other prices you mentioned, those prices in Asia, those prices in Rotterdam that are maybe higher than the numbers that people might see on the news or on a financial website. Is it fair to say that in your mind that's sending a signal that this is a market that really is being affected by this? And being affected maybe in a larger way than the headline oil price might suggest? Martijn Rats: Oh, clearly. Look, the oil market is full with small price signals that tell the story of the underlying plumbing of the oil market. So, you can look at price differential. So, physically delivered cargoes versus financially traded futures. West African oil versus North Sea oil. Brazilian oil versus North Sea oil. Oil for immediate physical delivery versus the futures contract that trades a month out. And many of those spreads have rallied to all time highs. That is no exaggeration. And so, in an underlying sense, the stress in the market is clearly there. It is just that in front of Brent futures, which is the world's preferred speculative instrument to express a financial view on oil. Yeah, there the impact has been slower to come. But you're now seeing a lot of Asian refineries bidding for crudes that are further away in the Atlantic basin. So, demand is spreading to further away regions. And that should over time still put upward pressure on Brent. Andrew Sheets: In our first conversation, you know, you had this great walkthrough of both just putting the scale of this disruption in the Strait of Hormuz into the global context. How many barrels we're talking about, how that's a share of the global market. Maybe just might be helpful to revisit those numbers again. And also, some of the mitigation factors. You know, we talked about – well maybe we could release reserves, maybe some pipelines could be rerouted. Based on what you're currently seeing on the ground, what is this disruption looking like? Martijn Rats: Yeah, so to put things in context, global oil consumption is a bit more than 100 million barrels a day. That number lives in a lot of people's heads. But if you look at the market that is critical for price formation, that's really the seaborne market. You can imagine that if, say you're in China, and you have a shortage. But there is a pipeline from Canada into the United States – that pipeline's not really going to help you. What you need is a cargo that can be delivered to a port in Shanghai. So, the seaborne market is where prices are formed. That is roughly a 60 million barrel a day market, of which 20 million barrels a day flows through the Strait of Hormuz. So, for the relative market, the Strait of Hormuz is about a third. It's very, very large. Now, out of that 20 million barrel a day that is, in principle, in scope, there is still a little bit of Iranian oil flowing through. That continues. They let their own cargo through. Then Saudi Arabia has the East-West pipeline. They can divert some oil from the Persian Gulf to the Red Sea. That's about 4 million barrels a day, incremental on top of the flow that already exist on that pipeline. The UAE has a pipeline that can divert half a million barrel a day. But you are still left with a problem that is in the order of 14-ish million barrels a day. You're going to have some SPR releases to offset that a little bit. But global SPRs can flow maybe 1 to 2 million barrels a day. You're very quickly left with a double digit shortage – and that is historically large… Andrew Sheets: And just to take it to history, I mean, again, if we were placing a 14 million barrel a day disruption in the context of some of these historical oil disruptions that people might have a memory of – what is the relative scale? Martijn Rats: Yeah. This is at the heart of why this is such a difficult period to manage. Like, normally we care about imbalances of 0.5 to 1 million. That gets interesting for oil analysts. At a million, you can expect prices to move. If you have dislocations in supply and amount of, say, 2 to 3 million barrels a day, you have historically epic moves that we talk about for decades, literally. Like in 2008, oil fell from $130 a barrel to [$]30 on the basis of two to three quarters of 2 million barrel a day oversupply. In 2022, around the Ukraine invasion, oil went from 60-70 bucks to something like [$]130 at the peak on the basis of the expectation, but not realized. This was just an expectation that Russia would lose 3 million barrels a day of productive capacity. And so, 2 to 3 million barrels a day normally already gets us to these outsized moves. And so, this event is four, five times larger than that. That means we don't have historical reference for what's currently happening. Andrew Sheets: I guess I'd like to now focus on the future and maybe I'll ask you to summarize two highly complex scenarios in a[n] overly simplified way. But let's say tonight we get an announcement that hostilities have ceased, that the strait is open, that oil can flow again. Or a second scenario where it's another three weeks from now, we're having this conversation again, and the strait is still closed. Could you just kind of help listeners understand what the energy market could look like under each of those scenarios? Martijn Rats: Yeah. So maybe to start off with the latter one. Because from an analytical perspective, that one is perhaps a bit easier. Look, if the Strait stays closed, at some point, consumption needs to decline. Andrew Sheets: Significantly. Martijn Rats: Yeah, significantly. We need demand destruction. Now that's easier said than done. Who gets to consume in those type of environments – are those who are willing to pay the most. And that means that certain consumers need to be priced out of the market. We tried to answer this question in 2022, and the collective answer that we all came up with is that you need prices for Brent – in money of the day – $150 or something thereabouts. That is not an exaggeration. Now, let's all hope we can avoid that scenario because that is… You know, that looks like a spectacular price. But that is not a beneficial scenario for anybody in the economy.The other scenario is more interesting, and it can actually be split in sort of two sub scenarios… Andrew Sheets: And this is the scenario where actually stuff starts flowing tomorrow. Martijn Rats: Exactly, exactly. If it completely flows like it always did – sure, we go back to the situation we had before these events. Brent can fall substantially – 70 bucks. Before these events we thought the oil market would be oversupplied. Who knows? True freedom of navigation may be even lower. But, at the moment, that doesn't quite look like that will be the scenario that's in front of us. What seems to be emerging is an outcome whereby this could deescalate but leave the Iranian regime structurally in control of the flow of oil through the Strait of Hormuz. And if the Iranian regime continues to manage the flow as they currently do – cargo by cargo. Because there are some cargoes trickling out and there is a process that seems to be established for it. There seems to be a toll that seems to be paid. And if it remains that sort of relatively heavy handed -- This cargo goes, that cargo doesn't. Given that that will then manage 20 percent of global oil supply, that is not the same oil market that we had before. Like all of OPEC spare capacity would be behind this system. Would that spare capacity be available in the case of an emergency? Maybe, maybe not. This is only one of many questions. But if the Iranians stay in control of the strait, we will not return to the oil market that we once knew. Andrew Sheets: And is that fair to say we might need a higher, long-term oil price? A higher risk premium in future oil prices to offset some of that? Martijn Rats: Yes. I would say that that is very likely. First, a lot of the supply would be fundamentally less reliable. Second, we would have de minimis effective spare capacity in the system. Thirdly, if this is the scenario we are left with, that creates an enormous incentive for countries to start expanding their strategic storages. And building strategic inventories is like exerting demand. China has built a lot of strategic storage over the last two years. They are now in a better shape than if they hadn't. In the west, we've historically had strategic storage. But India for example, has none. And so, the rest of Southeast Asia, no strategic storage; a lot of strategic storage buying that will is price supportive. And also, look, the prices that we care about are the price of Brent and WTI, and they are not behind the Strait of Hormuz. They have higher security of delivery. You can totally see how refineries would be willing to pay premium for those crudes relative to others. So, when you add all of that up, it leaves you with a higher risk premium. That people would pay particularly for the crudes that form our perceptions about the oil market, Andrew Sheets: Martijn, one final question I'd love to ask you about is how the U.S. fits into all of this. You know, you do encounter this perception that the U.S. is energy independent. It produces a lot of oil. It's net energy neutral in terms of its imports-exports. You can correct me to the extent that's correct. But to what extent do you think it's true that the U.S. is more isolated energy wise from what's going on? And to what extent do you think that that could be a little bit misleading given a global interconnected market? Martijn Rats: Look, the United States is in a better position than many other countries, that's for sure. China, it's a very large importer of oil Europe, very large importer of oil, uh, and at least the United States has, has a much bigger base of its own production. Um, But the practical reality is also that that is, I would just say, mostly sort of a volume argument, but not a price argument. The United States is a net exporter of oil. But that is a net effect after very large imports and very large exports. It's just that the exports are a little bit bigger than the imports… Andrew Sheets: So, it's a lot of flow in both directions… Martijn Rats: There is an enormous flow in both directions and that connects the United States with the rest of the world. In the end, in the seaborne market, there really is only one oil price and we all pay it, including the United States. But nevertheless, relative to other parts of the world, yeah, better positioned, Andrew Sheets: But still not immune from what's going on. Martijn Rats: No, no. We're all connected. Andrew Sheets: Martin, it's been wonderful talking with you and while I hope to catch up with you again soon, if we're not talking again in three weeks, it maybe is a good sign. Martijn Rats: Might be. Thank you, Andrew. Andrew Sheets: And thank you, as always, for your time. If you find Thoughts on the Market useful, let us know by leaving a review wherever you listen. And also, tell a friend or colleague about us today.

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Our analysts Andrew Sheets and Martijn Rats discuss why a prolonged disruption of oil flow through the Strait of Hormuz would be unprecedented—and nearly impossible for the market to absorb.Read more insights from Morgan Stanley.----- Transcript -----Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.Martijn Rats: I'm Martijn Rats, Head of Commodity Research at Morgan Stanley.Andrew Sheets: Today on the program we're going to talk about why investors everywhere are tracking ships through the Strait of Hormuz.It's Wednesday, March 11th at 2pm in London.Andrew Sheets: Martijn, the oil market, which is often volatile, has been historically volatile over the last couple of weeks following renewed military conflict between the United States and Iran.Now, there are a lot of different angles to this, but the oil market is really at the center of the market's focus on this conflict. And so, I think before we get into the specifics, I think it's helpful to set some context. How big is the global oil market and where does the Persian Gulf, the Strait of Hormuz fit within that global picture?Martijn Rats: Yeah, so the global oil consumption is a little bit more than a 100 million barrels a day. But that splits in two parts. There is a pipeline market and there is a seaborne market. And when it comes to prices, the seaborne market is really where it's at. If you're sitting in China, you're buying oil from the Middle East, all of a sudden, it's not available. Sure, if there is a pipeline that goes from Canada into the United States, that doesn't really help you all that much.Andrew Sheets: So, it's the oil on the ships that really matters.Martijn Rats: It's the oil on ships that is the flexible part of the market that we can redirect to where the oil is needed. And that is also the market where prices are formed. The seaborne market is in the order of 60 million barrels a day. So, only a subset of the 100 [million]. Now relative to that 60 million barrel a day, the Strait of Hormuz flows about 20 [million]. So, the Strait of Hormuz is responsible for about a third of seaborne supply, which is, of course, very large and therefore, you know, very critical to the system.Andrew Sheets: And I think an important thing we should also discuss here, which we were just discussing earlier today on another call, is – this is a market that could be quite sensitive to actually quite small disruptions in oil. So, can you give just some sense of sensitivity? I mean, in normal times, what sort of disruptions, in terms of barrels of oil, kind of, move markets; get investors' attention?Martijn Rats: Yeah, look, this is part of why this situation is so unusual, and oil analysts really sort of struggle with this. Look normally, at relative to the 100 million barrels a day of consumption, we care about supply demand imbalances of a couple of 100,000 barrels a day. That becomes interesting.If that, increases to say 1 million barrel a day, over- or undersupplied, you can expect prices to move. You can expect them to move by meaningful amounts. We can write research; the clients can trade. You have a tradable idea in front of you. When that becomes 2 to 3 million barrels a day, either side, you have major historical market moving events.So, in [20]08-09, oil famously fell from over 100 [million] down to something like 30 [million], on the basis that the oil market was 2-2.5 million barrel day oversupplied for two quarters. In 2022, we all thought – this actually never happened, but we all thought that Russia was going to lose about 3 million barrel day of supply. And on that basis, just on the basis of the expectation alone, Brent went to $130 per barrel. So, 2-3 [million] either side you have historically large moves. Now we're talking about 20 [million].Andrew Sheets: And I think that's what's so striking. I mean, again, I think investors, people listening to this, they can do that arithmetic too. If this is a market where 2 to 3 million barrels a day have caused some of the largest moves that we've seen in history, something that's 20 [million] is exceptional. And I think it's also fair to say this type of closure of the Strait [of Hormuz] is something we haven't seen before.Martijn Rats: No, which also made it very hard to forecast, by the way. Because the historical track records did not point in that direction, and yet here we are. The historical track record – look, you can look at other major disruptions historically.The largest disruption in the history of the oil market is the Suez Crisis in the mid-1950s that took away about 10 percent of global oil consumption. This is easily double that. So really unusual. If you look at supply and demand shocks of this order of magnitude, you can think about COVID. In April 2020, for one month, at the peak of COVID, when we're all sitting at home. Nobody driving, nobody flying. Yeah, we lost very briefly 20 million barrels a day of demand. Now we're losing 20 million barrels a day of supply. So, look, the sign is flipped, but it's in the same order of magnitude. And yeah, these are unusual events that you wouldn't actually, sort of, forecast them that easily. But that is what is in front of us at the moment.Andrew Sheets: So, I think the next kind of logical question is if shipping remains disrupted, and I'd love for you to talk a little bit about, you know, you're sitting there with satellite maps on your screen tracking shipping, which is – a development. But, you know, what are the options that are available in the region, maybe globally to temporarily balance this supply and create some offset?Martijn Rats: Yeah. So, like of course when we have a big disruption like this one, of course the market is going to try to solve for this. There are a few blocks that we can work with. I'll run you through them one by one, including some of the numbers. But very quickly you arrive at the conclusion that this is; this puzzle – we can't really solve it.Like in 2022, the market was very stressed. We thought Russia was going to lose 3 million barrels a day of supply, but we could move things around in our supply demand model. Russia oil goes to China and India. Oil that they buy, we can get in Europe, we can move stuff around to kind of sort of solve a puzzle.This puzzle is very, very difficult to solve. So, through the Strait of Hormuz, 15 million barrels a day have crude, 5 million barrels a day of refined product, 20 million barrels a day in total. What can we do?Well, the biggest offset, is arguably the Saudi EastWest pipeline. Saudi Arabia has a pipeline that effectively allows it to ship oil to the Red Sea at the Port of Yanbu, where it can be evacuated on tankers there. That pipeline has a capacity of 7 million barrels a day. We think it was probably already flowing at something like 3 million barrels a day. So, there's probably an incremental 4 [million] that can become available through that. That's the biggest block, that we can see of workaround capacity, so to say.After that the numbers do get smaller. The UAE has a pipeline that goes through Fujairah that's also beyond the Strait of Hormuz. We think there is maybe 0.5 million barrel a day of capacity there. Then you're basically, sort of, done within the region, and you have to look globally for other sources of oil.If there are sanctions relief, maybe on Russian oil, you can find a 0.5 million barrel day there. Here, there and everywhere. 100,000 barrels a day, 200,000 barrels a day. But the numbers get…Andrew Sheets: It's still not… So, if you kind of put all of those, you know, kind of, almost in a best-case scenario relative to the 20 million that's getting disrupted.Martijn Rats: If you add another one or two from a massive SPR release, the fastest release from SPR…Andrew Sheets: That's the Strategic Petroleum Reserve.Martijn Rats: Yeah, exactly. Earlier today, we got an announcement, that the IEA is proposing to release 400 million barrels from Strategic Reserve across its member countries. That is a very large number. But – and that is important. But more important is how fast can it flow because the extraction rate from these tanks is not infinite. The fastest ever rate of SPR release is only 1.3 million barrels a day. Now, maybe the circumstances are so extraordinary, we can do better than that and we can get it to 2 [million]. But beyond that, you're really in very, very uncharted territory.So maybe in the region, work around sanctions relief, SPR release, we can probably find like 7 million barrels a day out of a problem that is 20 [million]. You're left with another 13 [million]. The 13 [million] is four times what we thought Russia would lose. So, you're left with this conclusion: Look, this really needs to come to an end.Andrew Sheets: And the other rebalancing mechanism, which again, you know, when we come back to markets and forecasting, this is obviously price. And, you know, you talk about this idea of demand destruction, which I think we could paraphrase as – the price is higher so people use less of it and then you can rebalance the market that way.But give us just a little sense of, you know, as you and your team are sitting there modeling, how do you think about, kind of, the price of oil? Where it would need to go to – to potentially rebalance this the other way.Martijn Rats: Yeah, that price is very high. So, what it's a[n] really interesting analysis to do is to look at the historical frequency distribution of inflation adjusted oil prices.You take 20 years of oil prices. You convert it all in money of the day, adjusted for inflation, and then simply plot the frequency distribution. What you get is not one single bell curve centered around the middle with some variation around the midpoint. You get, sort of, two partially overlapping bell curves.There is a slightly larger one, which is, sort of, the normal regime. Lower prices, 60, 70, 80 bucks. There's a lot of density there in the frequency distribution, that's where we are normally. What's interesting is that actually, if you go from there to higher prices, there are prices that are actually very rare in inflation adjusted terms.Like a [$] 100-110. In nominal terms, we might feel that that has happened. In inflation adjusted terms, these prices are extremely rare. They are way rarer than prices that live even further to the right. [$]130, 140.The oil market has this other regime of these very high prices. If you go back in history, when did those prices prevail? They always prevailed in periods where we asked the same question. What is the demand destruction price? And yeah, to erode demand by a somewhat meaningful quantity, yeah, you end up in that regime. These very high prices, like [$]130. And it's… It's not a gradual scale. You sort of at one point shoot through these levels and that's where you then end up.Andrew Sheets: It's quite, quite serious stuff.Martijn Rats: Well, yeah. Also, because we can casually say in the oil market, ‘Oh, demand erosion has to be the answer.' But we don't erode demand in isolation. Like, you know, diesel is trucking. Yeah, jet is flying. NAFTA is petrochemicals.Andrew Sheets: These are real core parts of economic activity.Martijn Rats: It's all GDP.Andrew Sheets: So maybe Martijn, in conclusion, let me give you a slightly different scenario. Let's say that the conflict goes on for another couple of weeks, but then there is a resolution. Traffic goes back to normal. Walk us through a little bit of what that would mean. You know, kind of how long does it take to get back to normal in a market like this?Martijn Rats: Yeah. So, if you say, weeks, I would say that is an uncomfortable period of time actually.Andrew Sheets: Feel free to use a slightly different scenario.Martijn Rats: If you say days. Let's say next week something happens, the whole thing comes soon to end. Look, then we will have logistical supply chain issues. But look, we can work through that.There is at the moment somewhat of an air pocket in the global oil supply chain. There should be oil tankers on their way to refineries for arrival in April and May that currently are not. So, we will have hiccups and things need to be rerouted and we draw on some inventories here or there, but… And that will keep commodity prices tense, I would imagine. The equity market will probably look through it.We'll have a month or six weeks, not more than two months, I would imagine of logistical issues to sort out. Look, of course, if that, you know, doesn't happen, then we're back in the scenario that we discussed. But yeah, look, that that's equally true. If it's short, we can sort of live with a disruption.Andrew Sheets: It's fair to say that this is a situation where days really matter, where weeks make a big difference.Martijn Rats: Oh, totally. Look, the oil industry has built in various, sort of, compensatory measures, I think. You know, inventories along the supply chains. But nothing of the scale that can work with this. I mean, this is truly yet another order of magnitude.Andrew Sheets: Martijn, thank you for taking the time to talk.Martijn Rats: My pleasure.Andrew Sheets: And thank you as always for your time. If you find Thoughts on the Market useful, let us know by leaving review wherever you listen. And also tell a friend or colleague about us today.Important note regarding economic sanctions. This report references jurisdictions which may be the subject of economic sanctions. Readers are solely responsible for ensuring that their investment activities are carried out in compliance with applicable laws.