Podcasts about Strategic Petroleum Reserve

SpaceX shares trade lower for the first time since the company's public debut, raising questions about what comes next. We break down what the options market is signaling about investor expectations for the stock. Plus, HPE CEO Antonio Neri joins the show to discuss the company's new partnership with Nvidia and how it plans to capitalize on the growing demand for AI infrastructure. And new government data shows the U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1983, as energy security and oil markets remain in the spotlight. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The memorandum of understanding between the United States and Iran was apparently signed over the weekend, but the text remains a mystery to most. Donald Trump says he'll release it and even read it himself so nobody can misunderstand it. If it's such good news, though, why not put it out right now? Israel isn't a fan of it, nor are those who believe we've abandoned the Iranian people by making a deal with the IRGC. At the same time, there may be a silent majority that cares less about the politics and more about the price at the pump. And that's what caught my attention.Since the beginning of May, with Iran closing the Strait of Hormuz, gas prices in the United States have fallen. Not by a little, but by a lot. The national average has gone from roughly $4.50 a gallon to $3.50. That happened while the strait was closed and before any memorandum of understanding was announced. The White House wasn't bragging about it. They weren't loudly telling Iran that the closure wasn't working. That made me think something else was going on.Politics Politics Politics is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.After digging through it, I've been able to dig up a few explanations. The most public, I'd argue, was the Strategic Petroleum Reserve. The Department of Energy released more than 53 million barrels as part of a broader international effort, bringing the reserve down to its lowest level since 1983. There were also reports that the United States was helping move oil out of the Gulf using some of the same techniques Iran has historically used to evade sanctions. American production remained high. Every hint of a peace deal pushed oil prices lower. Global demand softened. China sharply reduced its purchases on the open market. Alternative routes around Hormuz became more important. Gasoline inventories improved. All of it pushed prices down.If I rank the reasons, peace-talk optimism sits at the top. Strategic reserve releases bought time. American-supported workarounds moved real barrels. Demand destruction, especially with China stepping back, reduced pressure. Improved gasoline inventories helped. Some of the more speculative theories include sanctions waivers for Iranian oil, greater tolerance for shadow-fleet shipments, and alternate export routes making Hormuz less decisive than Iran hoped.What stands out is that there were more American incentives to get to the table than Iranian ones. The Strategic Petroleum Reserve is a temporary band-aid. Smuggling oil out of the Gulf is risky. Every day the Strait of Hormuz remained closed carried economic and military risks. That helps explain why the White House wanted a deal. Iran had incentives too, especially if China was no longer buying at previous levels, but the balance of pressure appears different than many expected.My assumption remains what it has been for weeks: there are multiple power centers inside Iran, and the biggest question is whether any deal can survive them. The Ayatollah is gone, much of Iran's leadership structure has been shattered, and the IRGC itself appears divided between factions willing to make a deal and hardliners who want to keep fighting. The memorandum of understanding may give us a clearer picture when we finally see it. Until then, the biggest question isn't whether a deal exists. It's whether anyone on the Iranian side can actually enforce it.Chapters00:00:00 - Intro00:02:38 - Iran and Gas Prices00:31:47 - Update00:32:04 - UFC 250 Terrorism Plot00:37:46 - Russia-Ukraine00:39:48 - Primaries00:42:48 - Interview with Maria Curi01:11:46 - Wrap-up This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.politicspoliticspolitics.com/subscribe

The Closing Market Report from June 9, 2026, details a recent sell-off in commodity markets, with corn, soybean, and wheat prices returning to January lows due to the current absence of a weather premium. The upcoming WASDE report is expected to reflect strong export sales and potential adjustments to old crop carryouts, while technical support levels suggest potential short-term recovery bounces. In agricultural news, the Senate is developing legislation for year-round E15 sales to match a recently passed House bill, and the shipping company Maersk has successfully tested 100% ethanol as a bunker fuel in Rotterdam. Meanwhile, the Strategic Petroleum Reserve is projected to reach its lowest volume since the 1980s, and a Wisconsin farmland auction yielded nearly $22,000 per acre. Furthermore, the rapid expansion of large-scale data centers in the Midwest has prompted significant local and state regulatory pushback regarding energy and water consumption, leading to temporary development moratoriums and the proposed repeal of tax incentives in states such as Illinois and Michigan. Finally, the agricultural weather forecast predicts severe thunderstorms and heat across the northern plains and upper Midwest, which will shortly be followed by a transition to cooler, drier conditions driven by air masses from south-central Canada.- Ag Markets with Naomi Blohm, TotalFarmMarketing.com- WILLAg News Update for June 9, 2026- Lawmakers Rush to Regulate Data Center Development- Ag Weather with Don Day, DayWeather.com ★ Support this podcast ★

The Strategic Petroleum Reserve could drop to levels not seen since the 1980s. What actually IS the Strategic Petroleum Reserve? Where is it located? Eric Smith, a professor at Tulane's Institute of Energy, joins us.

* New Orleans has been working to clear a big backlog in cases in a slow-moving section of criminal court. How successful has the effort been? We'll break it down with Jesse Manley, the interim director of Court Watch NOLA. * The Strategic Petroleum Reserve could drop to levels not seen since the 1980s. What actually IS the Strategic Petroleum Reserve? Where is it located?

Marty sits down with Chris Martenson to discuss rigged oil and futures markets, the Strategic Petroleum Reserve heading for tank bottom, the coming wave of inflation, and why hard assets are the only protection against a terminally broken financial system. Chris on X: https://x.com/CHMartenson Peak Prosperity: https://peakprosperity.com/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/yHGkvYxdqT Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bitkey.world/ Aven https://www.aven.com/bitcoin CrowdHealth https://www.joincrowdhealth.com/tftc Unchained https://unchained.com/tftc/ Salt of the Earth: https://drinksote.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Graham Platner is leading Susan Collins in one of the most important Senate races in the country, and instead of asking how Democrats can win the seat, half the party seems busy feeding its own candidate into the purity machine.We break down the allegations against Platner, what he has admitted, what he denies, and why the political background of his most prominent accuser matters. We also talk about the larger question Democrats keep refusing to answer: what exactly is the standard?Because Donald Trump has 34 felony convictions, was found civilly liable for sexual abuse, owes millions in defamation damages, and is still treated by Republicans as perfectly fit to govern. But Graham Platner, a Marine combat veteran and PTSD survivor running against Susan Collins, gets treated like an extinction-level event by his own party.Also in this episode: Trump cries election fraud while his own candidates are winning in California, Pete Hegseth's Pentagon slashes recognized faiths and leans harder into Christian nationalism, Republicans briefly flinch at a $1.8 billion weaponization slush fund before protecting the possibility of bringing it back, Trump's White House ballroom donors rake in billions in federal contracts, and the House moves to rename the Department of Defense the Department of War.It is corruption, hypocrisy, purity politics, and institutional cowardice all the way down.Keywords: Graham Platner, Susan Collins, Maine Senate race, 2026 Senate election, Democratic Party, Democratic purity test, purity politics, Trump corruption, Donald Trump, Democratic double standard, Graham Platner allegations, Susan Collins Maine, Maine primary, Senate Democrats, Chuck Schumer, John Fetterman, Bernie Sanders, Ro Khanna, Janet Mills, Project 2025, Heritage Foundation, Independent Women's Forum, Brett Kavanaugh, Trump felony convictions, E. Jean Carroll, Pete Hegseth, Department of War, Department of Defense, Christian nationalism, Pentagon religion policy, Trump election fraud claims, California primary, Xavier Becerra, Steve Hilton, Strategic Petroleum Reserve, Trump ballroom, White House ballroom donors, federal contracts, weaponization fund, Democratic leadership, We Saw the Devil, political podcast, left wing politics, anti corruption, authoritarianism, media hypocrisy, Democratic infighting, Susan Collins challenger, Graham Platner Maine SenateBecome a supporter of this podcast: https://www.spreaker.com/podcast/we-saw-the-devil-unfiltered-political-analysis--4433638/support.Website: http://www.wesawthedevil.comPatreon: http://www.patreon.com/wesawthedevilDiscord: https://discord.gg/X2qYXdB4Twitter: http://www.twitter.com/WeSawtheDevilInstagram: http://www.instagram.com/wesawthedevilpodcast.

The global economy is on high alert as oil prices continue to rise due to escalating tensions in the Middle East. In this episode, our oil industry expert breaks down the latest developments and shares his insights on what's driving the market. From the Strait of Hormuz to the impact on California's oil supply, we're diving into the complex world of oil prices and their far-reaching effects on the global economy. The Strait of Hormuz, a critical waterway for global oil trade, has been a major point of contention between the US and Iran. The recent military strikes and retaliatory measures have sent oil prices soaring, with Brent crude reaching over $97 a barrel. But what does this mean for California's oil supply, and how will it affect the state's residents? Our expert weighs in on the latest developments and shares his predictions for the future of oil prices. As the situation in the Middle East continues to unfold, our expert also discusses the impact on California's oil supply and the potential consequences for the state's residents. From the Sable Offshore pipeline to the Strategic Petroleum Reserve, we're exploring the complex web of factors that are driving the oil market.See omnystudio.com/listener for privacy information.

Data from the Department of Energy shows the reserve stood at 357.1 million barrels as of Friday.

We cover 10 big stories on the Energy News Beat Stand Up - The deal has no signatures, and we are running low on oil, gas, and diesel inventory levels within weeks. 1. Iran Nuclear Deal & Middle East TensionsThe podcast opens with discussion of a pending Iran peace deal involving a 60-day memorandum of understanding (MOU) to extend a ceasefire and restart negotiations on Iran's nuclear program. Key concerns include whether Iran can be trusted, control of the Strait of Hormuz, and conflicting narratives between Iran and the Trump administration about shipping restrictions.2. Oil Market Dynamics & PricingWTI crude at $89 and Brent at $94.82Analysis of why oil prices dropped despite the unsigned Iran dealDiscussion of inventory levels running critically low, with predictions that prices could spike to $150-160 for Brent and $110 for WTI once inventories hit bottomThe role of Strategic Petroleum Reserve (SPR) releases in mitigating price increases3. Strait of Hormuz Shipping & Tanker TrafficCoverage of commercial shipping through the critical chokepoint, including VLCC (Very Large Crude Carriers) and LNG tankers heading to China and India, with concerns that only 2 tankers passing through versus the normal 20 per day signals serious disruption.4. China's Oil Market Re-entryDiscussion of China drawing down its strategic reserves and the potential shock when China returns to buying oil again—potentially driving prices significantly higher due to the current 9 million barrels per day supply deficit.5. Germany's Energy CrisisGermany's power prices surged over 30% due to high demand and low wind speeds, highlighting the vulnerabilities of renewable energy dependence. The podcast criticizes the unreliability of wind and solar and questions Germany's ability to meet its 80% renewables target by 2030.6. Russia-Kazakhstan Nuclear DealRussia and Kazakhstan signed agreements for Russia to finance and build Kazakhstan's first nuclear power plant, with Russia providing 85% of project financing—presented as a model for energy security and dominance.7. U.S. Strategic Oil Reserve Exports to CaliforniaFor the first time, crude oil from the U.S. Strategic Petroleum Reserve is being shipped to California (460,000 barrels to Chevron's Richmond refinery), enabled by President Trump's 60-day Jones Act waiver.8. Aluminum Market Supply CrisisCritical supply shortages in aluminum with inventories at dangerous levels, affecting manufacturing and presenting investment opportunities. Key companies mentioned: Alcoa, Century Aluminum, Kaiser Aluminum, and Rio Tinto.9. Europe's Natural Gas CrisisEurope's gas storage sits 55 points below required levels for winter, with reliance on Qatar and other LNG suppliers facing their own production challenges. This threatens European manufacturing and industrial competitiveness.10. Russia's Oil Exports to IndiaRussia is capitalizing on elevated global oil prices by boosting crude flows to India, with Indian imports jumping 70%.Overarching Themes:Energy security and dominance through exportsThe impact of geopolitical tensions on global energy marketsCriticisms of green energy policies and their economic consequencesThe importance of oil and gas investment and infrastructurePolitical messaging about energy policy differences between statesAll stories can be found on https://energynewsbeat.co/1.Iran Peace Deal Pending President Trump Approval – And it was not approved by the IRGC2.Who is Telling The Truth on Control for the Strait of Hormuz?3.Two VLCC Tankers and Two LNG Tankers Pass Through the Strait of Hormuz en Route to China and India4.The Next Energy Shock Could Be China's Return to the Oil and Gas Market5.Germany's Power Prices Soar Over 30% on High Demand and Low Wind Speeds6.Russia and Kazakhstan Sign Nuclear Power and Currency Swap Deals as Putin Visits Astana7.Oil from US Emergency Reserves Heads to California for the First Time, Kpler Says8.Aluminum Market Facing Prolonged Supply Outage. What does this mean for consumers and investors?9.Europe's Gas Crisis Just Repriced 8 Of My 12 Positions – The Merchant's News10.Russia Boosting Crude Flows as India Imports Jump 70% Since FebCheck out the Energy News Beat SubStack https://theenergynewsbeat.substack.com/A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/.Data2 if you have any business systems, can you trust A? Well, they have the patent on validation. . https://data2.zoholandingpage.com/energyAnd we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/

Buried underground in caverns dug out of salt on the Gulf coast of the US are millions of barrels worth of crude oil. This is the Strategic Petroleum Reserve, built up in the late 1970s.Globally, at the end of 2025, global strategic oil stockpiles were estimated at 2.5 billion barrels, with China holding the most.With the Strait of Hormuz now closed for more than two months, global oil supplies are being squeezed. In March, as part of a co-ordinated move by members of the International Energy Agency to release 400 million barrels of oil to prevent price spikes, the US began releasing 172 million barrels from its strategic reserves.In this episode, we speak to Scott Montgomery, a former petroleum geologist who lectures in international studies at the University of Washington, about why these oil stockpiles were built up in the first place, and how they work.This episode was written and produced by Gemma Ware and Katie Flood with production assistance from Katie Flood. Mixing by Eleanor Brezzi and theme music by Neeta Sarl. Read the full credits for this episode and sign up here for a free daily newsletter from The Conversation.If you like the show, please consider donating to The Conversation, an independent, not-for-profit news organisation.Why Middle East gas field attacks could send energy prices soaringWhy the Persian Gulf has more oil and gas than anywhere else on EarthWar in the Middle East made the case for renewables – what's happening in each country tells a harder storyThe government's plans to bolster Australia's fuel stores are sensible – but 5 years too lateOver 400 million barrels will be added to the oil market soon – what are strategic reserves and what can they do?Mentioned in this episode:Voices of the South

America's oil emergency is escalating fast. Gas prices are nearing $6 in Washington, the Strategic Petroleum Reserve is being drained, and experts are warning rationing could begin within weeks. Tonight we break down the real supply crisis behind the headlines.#EnergyCrisis #GasPrices #OilCrash #StrategicPetroleumReserve #DieselPrices #WashingtonState #Inflation #StraitOfHormuz #FuelPrices #SupplyChain #Trump #MiddleEast #Economy #BehindTheLine #OilShortage

Despite the historical energy disruption from the Iran conflict, stocks are back to record highs. Our Global Head of Fixed Income Research Andrew Sheets and our Head of Commodity Research Martijn Rats discuss different views and fundamentals driving markets.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: oil, oil inventories, and the price at the pump.It's Wednesday, May 6th, at 2pm in London.Martijn, it's great to talk to you. We remain in this very unique market where on the one hand, the energy market is severely disrupted. On the other hand, we're making new all-time highs in the stock market. And part of this debate is a creeping sense that maybe the energy market is just a lot more resilient than many people initially thought.So, let's just jump right into it. As you look at the current state of the world, the state of things, how are you seeing the energy market at the moment?Martijn Rats: There are definitely two views in the market. I would say commodity specialists, oil traders, people that trade oil and gas equities for a living, tend to focus on the size of the supply shock. And it is neither hyperbole nor disputed that the size of the supply shock is the largest in the history of the oil market. We have the statistical data to back that up. That is not a controversial statement.But at the same time, the other view in the market, generally held by your generalist investors who invest across many markets. They tend to focus on the likelihood or possibility that this supply shock might also be uniquely short. It was there all of a sudden, from one day to the next, the strait was closed. It felt a bit man-made, so to say. It was an outcome of a political decision, and that can also be undecided. And so, this is – the to-ing and fro-ing in the market is; on the one hand, this shock is very, very large. But the other hand it may also be very, very short.Now we went into this supply shock, arguably well-prepared. In the sense that during the course of like late 2024, all of 2025, and the very early part of 2026, we were telling a story of oversupply surplus. And on top of that, given the military buildup was going on in January and February, a lot of countries in the Arabian Gulf – Saudi Arabia, the UAE, Kuwait – visibly put out a lot of oil at sea.So, in the oversupply of 2025, we put oil in storage in lots of places that we can't always see. But that seems very likely. Oil in the water was very, very high. So, we have been living off these buffers, and that has helped. And then, yeah, at any point in time, there were good enough reasons to assume that on a timeframe of a couple of weeks, this would largely be resolved. We would eat into these buffers, draw some inventory.And it has been hard for the market then to really capitalize the size of the supply shock and say, "Yeah, really oil prices need to spike very, very high." And in that sense, we're left with this significant supply shock, but we haven't taken out the highs that we saw in 2022, for example.Andrew Sheets: So maybe a way to think about this, right, is that if we imagined all of that oil as sitting in a big tank. We've kind of stopped a lot of the flow into the top of the tank as the Strait of Hormuz has remained closed. But oil's still able to drain out of the bottom, kind of, like normal because that tank is being drained. Those inventories have been drawn down. Maybe that's a quite a crude analogy, to forgive the pun.But how long can that last? I mean, if we think about these inventories, if we think about the speed of which they're being drawn down; and I think that's an important point that you mentioned, that these inventories were unusually high going in. But they're obviously not unlimited.Where does that stand? And I guess, you know, what is the limit of that? How long can those inventory draws last?Martijn Rats: Yeah, yeah. To say that this is the billion-dollar question would be understating it, Andrew. It's also a unusually complicated question to answer in the sense that it depends very heavily on the region, on the product that you're looking at. Jet fuel in Europe, NAFTA in Asia, you might see something sooner. But other products in other regions, you know, might take longer.We often don't really know where the operational limitations of inventories are. Globally, we see something like 8 billion barrels of oil in some form of storage. That is an enormous amount. We can't draw that down to zero because a lot of that is there for operational, like working capital type reasons. Just to facilitate the operations of the industry. Is the floor seven? Is the floor six? These things are hard to answer.Andrew Sheets: You've got to have some oil in the pipeline to make the pipeline flow…Martijn Rats: Exactly, exactly. You can't operate a refinery if you don't have at least some storage right next to it. It just doesn't work. So, these things are hard to know. But I would say that we are eating through these buffers very, very re-rapidly now. Oil on water has largely normalized and is no longer elevated.We are seeing very large inventory draws across every data point that we have on refined products. Refined products are universally drawing. On crude, the data is more patchy. But we are seeing large inventory draws now coming through in the United States. I would say – and this is partly having worked with this data for a long time and sort of developing some market feel rather than very analytical spreadsheets, so to say. But I would say that if the flow of oil through the Strait of Hormuz does not resume on the sort of next four to six weeks, we will get very, very tight by June, early summer.And, well, look, I mean, from there, it's simply… You know, if you then were to forecast. You know, project forward from there on. It would be getting tight by August, September. But of course, that's done under the assumption that the flow remains impaired over that period, which I would say most market participants would not assume at the moment.Andrew Sheets: And another point that comes up sometimes, at least in my conversations, is, ‘Oh, but, you know, maybe Venezuelan oil is going to be coming online.' There's more investment. The U.S. seems very focused on increasing oil output in Venezuela. You know, can that match in any sense the scale of what we've had disrupted here?Martijn Rats: No, that is a complicated issue in the sense that, you know, growing oil production takes time. It takes capital, it takes equipment, it takes a lot of people. Venezuela at the moment, produces a bit more than a million barrels a day. I'd have to say, like, relative to the size of Venezuela's production, the last two monthly data points have actually come in better than expected. But you're talking about 100,000 barrels a day, 200,000 barrels a day, that sort of thing. Relative to a supply shock that is 13-14 million barrels a day.The fastest ever single amount of production growth of any country in any year was 2018. U.S. shale with natural gas liquids included grew 2 million barrels a day in a single year. But yeah, even that…Andrew Sheets: So, 2 million barrels relative to 14 million barrels lost is…Martijn Rats: Yeah, exactly.Andrew Sheets A drop in the bucket. Martijn Rats: And that had a huge run-up of several years of putting the infrastructure in place to do that. I mean, it…. You don't turn it on a dime either. So no, that remains difficult.Andrew Sheets: So, you know, maybe a dynamic to close with is actually another way that I think people care about the oil price, you know, besides their portfolio – which is they drive.And, you know, you had a great stat in your report that one out of every 11 barrels of oil that's produced ends up in an American car. And the U.S. is a big producer. Its inventories have been drawing down. There are clear signs that the U.S. is exporting a lot of energy, and as a result, gas prices are also going up in the U.S.So, you know, what… If you could just talk a little bit about the move in gasoline and maybe, you know, I think this could be a good segue into this idea of distillates into, kind of, parts of refined product. And how those prices can deviate or not from the barrel of oil we often talk about. And then even just more generally, kind of what is the price at the pump that people might need to think about as you head into the summer – assuming, you know, this conflict is still somewhat uncertain.Martijn Rats: Yeah. So, the United States is very interesting at the moment. In the sense that the regular discourse about the United States is that the United States is energy independent because it is a net oil producer. And at the most aggregate level, that is correct. But that doesn't mean that the United States is not connected to the rest of the world from an oil market perspective. I would say actually it's the opposite.The U.S. oil market is deeply connected to the rest of the world. It is a net exporter because there are very large imports, and there are very large exports, and it just happens so that the exports are a little bit bigger than the imports. So, it's a net exporter.But flows in both directions exist for every product – for crude, for diesel, for gasoline. So, the U.S. should be the last place to have physical disruptions because the supply is close to home. But in the end, it's so connected; that in the end, there's only one global oil price – and we all pay it, including in the United States.Now, because of the deficits at the moment, in Asia, to [an] extent in Europe, there is a very large pool on oil from the United States, and we're seeing that across the board. Crude oil exports were 4 million barrels a day, at the start of the year. They're now running sort of 5.5, even 6 million barrels a day. So, there's a lot of crude being pulled out of the United States. That is partly also the SBR release, the release from the Strategic Petroleum Reserve. But the export's very, very large.Another product where that is also happening is in gasoline. Now, the gasoline market in the United States has a degree of complexity to it in the sense that the U.S. is a big importer of gasoline in the East Coast and the West Coast, but then a big exporter from the Gulf Coast.Andrew Sheets: Hunh! Okay. Yeah.Martijn Rats: Net-net, it's an exporter, but in the East Coast and the West Coast, big, big importer. Now, in Europe, for example, we are normally long gasoline, short diesel. We export our surplus to the U.S. East Coast. But, at the moment, it's tight in Europe, so we're not exporting that much gasoline. So, imports in the United States have dropped a lot.At the same time, Asian customers, Brazilian customers, Mexican customers [are] pulling a lot of gasoline out of the Gulf Coast. And as a result, the net exports are unusually high for this time of the year. On top of that, the Strait of Hormuz issue has tightened the diesel market so much relative to the gasoline market that it is favorable for refineries to maximize their diesel output over their gasoline output.Andrew Sheets: Hmm. And these are decisions you can make in terms of how you crack that barrel in a refinery and split it up.Martijn Rats: Yeah, exactly. Within a relatively narrow window, but you can make tweaks that are significant. Now, normally, we're going into this summer driving season, refineries switch from what we call max diesel to max gasoline. At the moment, they are not doing that.Andrew Sheets: Mm.Martijn Rats: So, you have low gasoline production, and you have large net exports of gasoline. Over the last 11 weeks already, we have seen a very significant, very significant decline in gasoline inventories in the United States. And prices have risen at the pump. The nation's average is now $4.50 per barrel, as of reports this morning.The summer driving season has yet to start. That can become $4.70, $4.80. That can become $5. Above $5 is historically a point where people get, yeah, worried about demand destruction. And it has a real impact.Andrew Sheets: Well, Martijn, I think this remains such an important and interesting story. And even if, you know, it can seem sometimes like the market has moved on to other things, clearly there are a lot of other factors driving the equity market. It remains pretty historic, pretty significant, and pretty complicated. Also, something that I think, you know, affects the day-to-day spending and lives of a lot of people out there.So, Martijn, again, thank you for taking the time to talk.Martijn Rats: Thank you.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.

Here's what you'll learn: Why crude markets may be too complacent: Which forward prices may not be reflecting tightening fundamentals What inventory data is signaling: The counter-seasonal draws and record exports reducing supply What's happening with reserves: The Strategic Petroleum Reserve is trending toward historically low levels What's driving volatility: Continued geopolitical happenings and flows through the Strait of Hormuz What's supporting demand: How AI and electrification are accelerating power needs How it all effects investors: The improving fundamentals that may be supporting energy equities 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.

Preview for Later: Guest: Lance Gatling Summary: Lance Gatling discusses Japan's response to the Hormuz crisis, highlighting its reliance on imported energy and the strategic petroleum reserve. He explores how Japan diversified energy sources after previous conflicts and nuclear accidents.1920 TOKYO

Mark Haughwout joins me for a wide-ranging conversation as the cost of the Iran war surges and Americans brace for higher prices—with no relief in sight from interest rates. We break down the economic ripple effects, from the Strategic Petroleum Reserve to what it means for your wallet. Plus, political drama heats up in DC with resignations, impacts to California's governor race and a stunning moment as a single-engine plane is forced to land on a Phoenix street.

The part that doesn't get said out loud often enough is this: you can be “aligned” in a war and still be on a collision course. We dig into why U.S. goals in Iran and Israel's goals in Iran don't just differ, they actively clash and how that clash shows up in assassinations that erase diplomatic options and strikes that look designed to cripple Iran's long-term ability to function as a state. We also zoom out to the stories getting buried while everyone watches missiles and maps. Using recent UN reporting and on-the-ground dynamics, we talk about accelerated West Bank settlement expansion, displacement, settler violence, and what happens to Gaza when aid is cut and the world's attention drifts. The bigger takeaway is uncomfortable: regional escalation can create cover for permanent facts on the ground in Palestine, even as leaders insist their focus is elsewhere. Then we bring it home to the U.S. economy and politics: the Strait of Hormuz, crude oil volatility, Strategic Petroleum Reserve releases, and the growing risk that oil trade shifts away from the dollar toward the yuan. We also walk through polling that shows Americans turning against the war and why even pro-Trump respondents say they want a fast exit. Finally, we react to Tulsi Gabbard's Senate Intelligence Committee testimony, the threat framing that lumps Iran with nuclear powers, and the pointed exchange over whether Iran posed an “imminent” nuclear threat. If you want clearer thinking on U.S. foreign policy, the Israel Iran war, the Strait of Hormuz, and the real incentives pushing escalation, subscribe, share this with a friend, and leave a review so more people can find the show.

As the Strait Of Hormuz remains closed due to the war with Iran, Western nations have only limited tools to try to keep the price of oil in check. One strategy is to release stored oil from the Strategic Petroleum Reserve. Confluence Advisory Director of Market Strategy Bill O'Grady joins Phil Adler to discuss how effective this tool might be.

Dave from Chicago called Mark to inquire whether the U.S. Strategic Petroleum Reserve has been replenished, given the significant drawdowns associated with ongoing oil price volatility. Vincent from Brooklyn, NY, called Mark to discuss the continued use of cash by some consumers today. He also commented on what he described as a great move by the Trump administration in securing funding for the TSA.

Dave from Chicago called Mark to inquire whether the U.S. Strategic Petroleum Reserve has been replenished, given the significant drawdowns associated with ongoing oil price volatility. Vincent from Brooklyn, NY, called Mark to discuss the continued use of cash by some consumers today. He also commented on what he described as a great move by the Trump administration in securing funding for the TSA.See omnystudio.com/listener for privacy information.

In mid-March 2026, the Trump administration announced the largest single-country release of emergency oil reserves in history — 172 million barrels — as part of a coordinated 400-million-barrel release by 32 nations in response to the closure of the Strait of Hormuz. In this episode, we dig into what the Strategic Petroleum Reserve actually is, how it was created, and what the historical record tells us about whether tapping it actually brings down oil prices. We also examine why the reserve is now headed toward levels not seen since the early 1980s, what the "exchange" structure of the current release means for replenishment, and why mineral owners shouldn't panic — but should pay attention. As always, links to the resources mentioned in this episode can be found in the show notes at mineralrightspodcast.com.

Our Head of Public Policy Research Ariana Salvatore breaks down what's being discussed by policymakers around the world to try to cap the oil price spike. Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of Public Policy Research. Today, I'll be talking about the ongoing conflict in Iran and the policy options to offset a rise in oil prices. It's Wednesday, March 25th at 8pm in Tokyo. The U.S.-Iran conflict is stretching into its fourth week, and markets are still trying to distill headlines for news of an off-ramp or further escalation. Even here in Tokyo, the global supply crunch is top of mind. But we're also watching for second order effects among a number of key supply chains, ranging from food to semiconductors. As you've been hearing on the show, the Middle East is a critical supplier of aluminum, petrochemicals, and fertilizers—all industries that are energy intensive and deeply embedded in global supply chains. There's also sulphur, which is needed to produce copper and cobalt, largely used for chip materials and components. And helium, which is a critical material for semiconductor manufacturing. So with all this supply chain disruption on the line, what are policymakers' options to mitigate that loss? Let's start by putting some numbers around the disruption. The Strait of Hormuz accounts for about 20 percent of global oil supply, and about a third of seaborne oil. Our strategists highlight three potential offsets. First, alternative pipelines. Saudi Arabia maintains an East-West pipeline and the UAE similarly has a smaller scale Abu Dhabi Crude Oil Pipeline. Those together can allow for some crude to bypass Hormuz. Second, the U.S. has publicly discussed potential naval escorts. We've written about the logistical difficulties with this plan, in addition to significant execution risks. Third, the IEA has coordinated a strategic stock release, which could translate to a sustained release of around 2 million barrels a day, depending on the duration of the conflict. There are also geographic considerations though that can add a lag to those strategic releases. On net, our oil strategists think these policy levers can mitigate about 9 million barrels per day from the lost 20, meaning that the global economy will still be short about 11 million barrels per day; more than three times the supply shock the market feared from the Russia-Ukraine conflict back in 2022. So, given those limitations, we're starting to see countries around the world – particularly in Asia – begin to implement rationing measures to conserve energy. The Philippines, for example, has implemented a four-day workweek for government workers and mandated agencies to cut fuel and electricity use. Myanmar has imposed driving limits, and Sri Lanka has introduced gasoline rationing. But what about in the U.S.? We've seen domestic gasoline prices climb due to this conflict, and the national average is now close to $4, almost a dollar up from where we were about a month ago. The President has announced a number of policy efforts – including a Jones Act waiver, which temporarily allows foreign vessels to transport fuel between U.S. ports, and a temporary pause on some Russian and Iranian oil sanctions. President Trump has also directed a release from the Strategic Petroleum Reserve, but similarly to the IEA stockpile, the flow rate is going to be the key limit. The authorization was for 172 million barrels over a 120 period, which translates to just about 1.4 million barrels per day on average. So what should we be watching? Tanker transits, signs of upstream shut-ins as storage fills, refinery run-cuts, and—most crucially—whether policy announcements on insurance and escorted convoys can actually translate into reality. These are all going to be critical elements going forward. For now, our oil strategists have raised their near-term Brent forecast to $110 per barrel, which underscores our U.S. economists' outlook for weaker growth and stickier inflation than previously expected. And for now, policy tools seem to be unable to meaningfully offset that disruption. Thanks for listening. As a reminder, if you enjoy Thoughts on the Market, please take a moment to rate and review us wherever you listen and share the podcast with a friend or colleague today.

On today's episode, we discuss how “non‑producers bossing producers around” shows up in current news, starting with New York City's mayor floating a 20‑mph citywide speed limit that the crew argues would effectively outlaw cars by gridlocking already‑crowded streets. Using memories of the old 55‑mph interstate cap and a My Fair Lady traffic scene, they explain why slower speeds can actually worsen congestion and suspect the real motive is revenue from tickets in a failing “socialist experiment.” From there, they turn to America's Strategic Petroleum Reserve, outlining how Biden's drawdowns left inventory under 60% and may have damaged one of four salt‑dome sites, while Trump now plans to refill by trading 1 million barrels out today for 1.2 million back later at equal or better quality. They see that 20% futures “bonus” as savvy insider‑style dealing on behalf of U.S. taxpayers, contrasting it with earlier sales that let China buy cheap U.S. crude on the open market. The conversation also hits the current Middle East war, with signs it may be winding down despite mixed messaging from lower‑level propaganda voices and 4,500 Marines posturing near key islands. In a lighter closing segment, they joke about NASA's Artemis mission finally giving Americans a direct look at the so‑called dark side of the moon, debate who would dare ride a government rocket, and have Dwayne explain tidal locking, 28‑day lunar “days,” and why one lunar hemisphere always faces Earth even though both see sunlight. Don't miss it!

In this episode, panelists discuss the ongoing geoeconomic consequences of the conflict in Iran, including global energy flows and oil prices, economic development and AI buildout in the Gulf region, and sanctions on Russia. They also explore inflation and interest rates as markets respond to the crises.   Background Reading: In this article, CFR president Michael Froman discusses the unfolding global energy crisis with CFR senior fellow Daniel B. Poneman and the Center on Global Energy Policy's Jason Bordoff, all of whom worked together on the U.S. Strategic Petroleum Reserve 2011 release.   Host: Edward Fishman, Senior Fellow and Director of the Maurice R. Greenberg Center for Geoeconomic Studies, Council on Foreign Relations   Guests: Edward Morse, Senior Advisor and Commodities Analyst, Hartree Partners, LP; CFR Member   Meghan L. O'Sullivan, Director and Professor, Belfer Center for Science and International Affairs, Harvard Kennedy School; Member, Board of Directors, Council on Foreign Relations   Brad W. Setser, Whitney Shepardson Senior Fellow, Council on Foreign Relations   Karen E. Young, Senior Research Scholar, Center on Global Energy Policy, Columbia University School of International and Public Affairs; CFR Member   Want more comprehensive analysis of global news and events sent straight to your inbox? Subscribe to CFR's Daily News Brief newsletter.   To keep tabs on all CFR events, visit cfr.org/event. To watch this event, please visit it on our YouTube channel: The Geoeconomic Ripple Effects of the War in Iran

With the Strait of Hormuz virtually closed, what does that mean for the regions biggest customer - Asia? Tom Reed, VP of Crude and Products at Argus Media joins us to provide a detailed examination on the impact of Israel and the US's joint attack on Iran on crude and product flows from the region. What were the flows prior to the attack? What has it meant for traders, contracts and customers? Is China tapping its Strategic Petroleum Reserve? And will Asian countries start to ban the export of fuels?

Today, we detail U.S. plans to release 172 MMbbl from the Strategic Petroleum Reserve, examine how it compares with U.S. actions after the Russian invasion of Ukraine in 2022, and why the SPR could drop to levels not seen since the Reagan administration.

Roundup of the Week's Top Stories in Economics and FreedomChina has just 3 Months of OilBiggest Job Crash since CovidChina Slowest Growth in 35 yearsWhy the Strategic Petroleum Reserve is 1/3 EmptyRussia to Cut off Europe's GasRead the article "Russia to Cut off Europe's Gas" at https://www.profstonge.com/Visit our Sponsor: Monetary MetalsEarn 5% to 12% interest on your physical gold and silver, paid in physical gold and silver.Visit our Sponsor: CoinKiteProtect your Bitcoin with an Ultra-Secure Hardware WalletProfstonge WeeklyWeekly articles on economics and freedom and a monthly investment Watch ListDisclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Support the show

Meet my friends, Clay Travis and Buck Sexton! If you love Verdict, the Clay Travis and Buck Sexton Show might also be in your audio wheelhouse. Politics, news analysis, and some pop culture and comedy thrown in too. Here’s a sample episode recapping four takeaways. Give the guys a listen and then follow and subscribe wherever you get your podcasts. Go Thank an Oil Man Clay and Buck open by discussing breaking developments in Iran, including the condition of Mojtaba Khamenei—nicknamed “Little Mo”—who is reportedly in a coma and severely injured following U.S. airstrikes. The hosts analyze how the Iranian leadership is under unprecedented pressure as air campaigns continue to dismantle military assets and target key regime figures. They also address escalating attacks on oil tankers in the Strait of Hormuz, the resulting volatility in global oil prices, and how President Trump is responding with aggressive measures, including tapping the Strategic Petroleum Reserve and coordinating releases of hundreds of millions of barrels internationally to stabilize markets. The conversation highlights the dramatic price swings of crude oil and examines how Iran is trying to weaponize oil shipping routes to trigger economic turmoil. The hosts then explore how American media outlets are selectively covering the surge in gas prices. Clay criticizes networks like CNN and MSNBC for ignoring declining fuel costs for more than a year but immediately amplifying short‑term price increases during the conflict. This flows into a broader media discussion about the differences between advertising‑driven outlets and subscription‑driven news models, with Clay noting that subscriber‑funded outlets—such as the New York Times—now cater to ideological expectations instead of broad audiences. Buck argues that Fox News at least acknowledges its editorial perspective, whereas CNN still pretends to be nonpartisan despite consistent ideological framing. Uncle Bill: "We'll Do It Live!" Clay and Buck welcome media icon Bill O’Reilly, who joins them to discuss his new long‑form interview program We’ll Do It Live! O’Reilly recounts the origins of the viral “We’ll do it live!” clip from his Inside Edition days and how it resurfaced years later as internet culture took off. After the lighthearted banter, the conversation shifts dramatically toward the unfolding Iran conflict. O’Reilly details the stakes of President Trump’s military campaign, emphasizing that U.S. strikes—coordinated with Israeli intelligence—have dismantled much of Iran’s offensive capability. He explains that the killing of top Iranian leadership and the crippling of Iran’s military infrastructure mark one of the most consequential U.S. operations in decades. But O’Reilly warns that global economic consequences, especially oil price volatility, remain the biggest wildcard, and that Trump’s political future hinges significantly on the success or failure of the campaign. The hosts ask O’Reilly what “victory” in Iran should look like, prompting him to outline a diplomatic off‑ramp: forcing Iran to abandon nuclear ambitions, curtail ballistic missile development, weaken the Revolutionary Guard, and end support for terrorism. He acknowledges that Iran often violates agreements but argues that overwhelming military pressure could eventually push the regime toward negotiation. O’Reilly also discusses the Save America Act and the Senate’s political obstacles, noting that although the bill won’t reach the 60 votes needed to advance, Democrats risk political backlash because voter‑ID requirements enjoy overwhelming national support. MO Sen. Eric Schmitt Senator Eric Schmitt of Missouri joined the program to discuss the Save America Act and the Senate’s procedural fight over election integrity, voter ID requirements, mail in balloting limits, and protections for women’s sports. Schmitt explains how a talking filibuster could force Democrats to publicly defend their opposition and outlines the legislative mechanics needed to bring the bill to the Senate floor. He then addresses the Democrats’ refusal to fund the Department of Homeland Security amid a surge in terror threats, arguing that their resistance to immigration enforcement and ICE operations has resulted in long TSA wait times, staffing shortages, and national security vulnerabilities just as Americans enter peak spring travel season. TX Sen. John Cornyn Senator John Cornyn of Texas discusses his May runoff against Ken Paxton and the potential impact of a Donald Trump endorsement in the race. Cornyn defends his record as a Trump aligned conservative, noting that he has voted with Trump more than 99 percent of the time and has played major roles in passing tax cuts, confirming Supreme Court justices, and securing federal reimbursement for Texas border security operations. He explains his evolving stance on the filibuster, arguing that the Save America Act is critical enough to justify a talking filibuster exception due to Democrats’ pattern of blocking legislation tied to national security and voter integrity. Cornyn also contrasts his electability with Paxton’s, asserting that he is the stronger candidate to defeat the Democrats’ far left challenger and to protect down ballot Republican seats in Texas. Make sure you never miss a second of the show by subscribing to the Clay Travis & Buck Sexton show podcast wherever you get your podcasts! ihr.fm/3InlkL8 For the latest updates from Clay and Buck: https://www.clayandbuck.com/ Connect with Clay Travis and Buck Sexton on Social Media: X - https://x.com/clayandbuck FB - https://www.facebook.com/ClayandBuck/ IG - https://www.instagram.com/clayandbuck/ YouTube - https://www.youtube.com/c/clayandbuck Rumble - https://rumble.com/c/ClayandBuck TikTok - https://www.tiktok.com/@clayandbuckYouTube: https://www.youtube.com/@VerdictwithTedCruzSee omnystudio.com/listener for privacy information.

Oil prices are surging as the conflict in Iran intensifies. To ease the pain at the pump, President Trump is tapping into the Strategic Petroleum Reserve. Former Senior Economic Adviser Steve Moore joins The FOX Business Network's Gerri Willis to break down the administration's energy strategy and why he thinks we can see $2 gas in near future. Plus, the new GDP data showing a cooling U.S. economy.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Oil prices are surging as the conflict in Iran intensifies. To ease the pain at the pump, President Trump is tapping into the Strategic Petroleum Reserve. Former Senior Economic Adviser Steve Moore joins The FOX Business Network's Gerri Willis to break down the administration's energy strategy and why he thinks we can see $2 gas in near future. Plus, the new GDP data showing a cooling U.S. economy.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Iran War Update: Gas Goes Up, Missiles Go Boom, and Epstein Still Ain't Dead (Probably) On the Libservative podcast, Corey hosts with Bell while Dan is away, covering the ongoing Iran war, rising gas prices, and political fallout. They criticize Trump golfing while authorizing a major Strategic Petroleum Reserve release, compare it to Biden's 2022 release, and mock the recurring “short-term pain for long-term gain” messaging. They argue the U.S. is spending about $1B/day firing expensive missiles at cheap drones, warn the conflict could drag on (with a memo preparing through September 2026), and say the war is destabilizing alliances, including pulling Patriot/THAAD systems from South Korea. They discuss claims a U.S. tomahawk hit a school, broader history of U.S.-Iran tensions, cluster munitions hypocrisy, job losses and higher unemployment, and new Epstein guard cover-up allegations, then touch on special-election “blue wave” chatter and Trump targeting Thomas Massie. 00:00 Welcome to Libservative 01:12 Show topics and tech issues 03:01 Trump golfing and war optics 04:00 Oil reserves and gas prices 07:07 Short term pain montage 08:51 Drone math and war costs 11:58 Public support and goalposts 13:15 Religion and the war lens 17:49 School strike and deniability 21:35 How we got here since 1954 26:43 Regime change and mission creep 28:50 Cluster bombs and hypocrisy 30:11 Patriot systems and global spillover 37:05 THAAD moved from Korea to Israel 38:46 Two state solution and blowback fears 42:44 War of attrition and economic pain 45:18 Diplomacy bombed and summer outlook 47:19 Unit Party Blue Wave 48:55 War Spending Inflation 49:45 Silver Demand Explained 50:40 War Powers Backroom Deals 52:12 DHS Shutdown Surveillance 55:33 Draft Fears Kids Recruiters 59:20 Bases Alliances Munitions 01:03:03 Money Printing Homefront 01:06:23 Subsidies Supply Demand 01:12:39 MAGA No New Wars 01:14:16 Massey Ana Third Way 01:20:12 Jobs Report Economy Data 01:25:49 Epstein Guard Coverup 01:28:31 Midterms Special Elections 01:37:17 Final Thoughts Sign Off

Atlassian announced that it is letting about 10% of its workforce go today. Management said it was because AI is making the company more efficient, but we're wondering if there is more to it than that. Plus, some napkin math on the Strategic Petroleum Reserve release and Dollar General's most recent earnings Tyler Crowe, Matt Frankel, and Jon Quast discuss: - Altassian's Layoffs - The challenges facing SaaS companies in an age of efficiency - Assessing the impact of the SPR release and how it changes our investing approach - Dollar General's earnings and its ongoing turnaround project Companies discussed: TEAM, XYZ, DG, FIVE, WMT, TGT Host: Tyler Crowe Guests: Matt Frankel, Jon Quast Engineer: Dan Boyd Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We're committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit ⁠⁠⁠⁠⁠⁠⁠⁠megaphone.fm/adchoices⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

More than 30 countries have agreed to release 400 million barrels of oil from strategic reserves as the war-driven supply shock sends crude above $100 a barrel. U.S. Energy Secretary Chris Wright discusses America's plan to release 172 million barrels from the Strategic Petroleum Reserve, the effort to stabilize oil prices, and whether the U.S. Navy could help escort tankers through the Strait of Hormuz. Then, CNBC's Dan Murphy reports on Iran's escalating attacks on shipping and energy infrastructure across the Gulf. And, Defense Department CTO Emil Michael takes aim at Anthropic's AI models over concerns about ideology in military supply chains. Plus, Elon Musk unveils the new Tesla-xAI project “Macrohard,” and CNBC's Eamon Javers reports on the Trump administration's next tariff steps.   Sec. Chris Wright - 15:39 Emil Michael - 33:28   In this episode: Sec. Chris Wright, @SecretaryWright Eamon Javers, @EamonJavers Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A suspected attacker is dead after a vehicle reportedly packed with explosives rams into a synagogue in West Bloomfield, Michigan, which has a school & daycare center. A guard was injured, but no children or staff; A deadly shooting at Old Dominion University in Norfolk, Virginia is being investigated as an act of terrorism. The suspect has connections to ISIS; Iranian TV says the new Supreme Leader Mojtaba Khamenei in his first statement says the Strait of Hormuz will remain closed to oil tankers affiliated with the U.S. and Israel; Energy Secretary Christopher Wright talks about the release of the more than 170 million barrels of oil from the Strategic Petroleum Reserve to curb rising gas prices; Another Senate vote to end the Homeland Security Department shutdown fails, with Democrats still demanding reforms to federal immigration enforcement be attached and Republicans opposing that; Senate passes a bill to promote more affordable housing, but it differs from the House-passed version. We will talk with Reuters Congressional reporter Richard Cowan about what happens next (32); Senate Majority Leader John Thune (R-SD) says a bill to require proof of U.S. citizenship to vote will come up next week, and reports are the debate will be extensive, with late nights expected; Long-time Rep. James Clyburn (D-SC), former No. 3 in the House Democratic leadership, announces he will not retire, but run again this November; conversation with Supreme Court Justice Amy Coney Barrett; President Donald Trump & First Lady Melania Trump host a Women's History Month celebration at the White House; NASA gives an update on the Artemis II moon mission schedule. Learn more about your ad choices. Visit megaphone.fm/adchoices

with Brad Friedman & Desi Doyen

Iran's new supreme leader says the Strait of Hormuz must stay closed as the U.S. releases 172 million oil barrels from its strategic reserve. Kevin Green explains how continuing supply pressures will trickle into other commodities beyond crude oil. When it comes to refilling the Strategic Petroleum Reserve, KG talks about headwinds markets aren't taking into account. He adds that there will be long-term impacts across the global even if the Strait of Hormuz closure is short-lived.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

How game shows lie, President Trump has authorized the release of 172 million barrels from the U.S. Strategic Petroleum Reserve, Whoopie Goldberg's latest crazy theory, rumors say Britney Spears arrest could have been a set up, Jake Paul joins President Trump on stage at a rally in KY, and oil tankers are stuck in the Strait of Hormuz...

U.S. Central Command says Iran is losing air capability day by day, after releasing footage on Wednesday showing strikes on three Iranian aircraft. CENTCOM says U.S. forces aren't just defending against Iranian threats, but methodically dismantling them. President Trump adding that the U.S. is striking the Iranian regime ‘harder than virtually any country' has been hit in history, and it's not done yet.Tensions in the Strait of Hormuz are in the spotlight. The Trump administration is tapping into the Strategic Petroleum Reserve to ease rising gas prices amid the war with Iran. The Department of Energy announced 172 million barrels of oil will be released beginning next week. Energy Secretary Chris Wright says it will take approximately 120 days to deliver based on planned discharge rates.The Trump administration has launched new trade investigations under the ‘Trade Act.' Trade Representative Jamieson Greer said the probes will examine excess industrial capacity in 16 major trading partners. The investigations will determine whether foreign policies and practices are unfairly displacing U.S. manufacturing and restricting commerce. A second investigation will focus on imports produced with forced labor, targeting roughly 60 countries.

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.

President Trump says he'll tap the Strategic Petroleum Reserve soon to bring gas prices down. Cleanup in Midwest states after severe weather while more is on the way. British government release more files concerning former U.S. Ambassador Peter Mandelson's relationship with Jeffrey Epstein. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

How is the war with Iran impacting global oil prices—and could the Strait of Hormuz trigger the next energy crisis? In this episode, Lisa sits down with former U.S. Energy Secretary Dan Brouillette to break down the extreme volatility in the oil markets, the risks facing global shipping, and how energy traders are trying to price uncertainty during a geopolitical conflict. Brouillette explains why oil prices surged from the mid-$70s to $120 in just hours, how the Trump administration’s proposed $20 billion tanker insurance backstop could stabilize shipments through the Strait of Hormuz, and why the Strategic Petroleum Reserve is at a dangerously low level. He also reflects on how deregulation during the Trump administration helped make the United States a net energy exporter and what that means for energy security today. The conversation also explores the global implications of bringing Venezuelan oil back into the market, China’s reliance on discounted energy, and how geopolitical shifts could reshape the world’s energy supply. Plus, Brouillette discusses the massive power demand coming from AI and data centers, why nuclear energy may be the key to meeting future electricity needs, and how cybersecurity and quantum computing could transform energy infrastructure. Topics covered include: Why oil prices are swinging wildly during the Iran conflict The strategic importance of the Strait of Hormuz Trump’s tanker insurance plan and global shipping risks The state of the U.S. Strategic Petroleum Reserve Energy independence and deregulation under the Trump administration Venezuelan oil and China’s discounted energy supply The massive energy demand from AI and data centers Why nuclear power could be critical for America’s energy future A must-listen for anyone following energy markets, geopolitics, oil prices, and the future of global energy security.See omnystudio.com/listener for privacy information.

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 episode of The Wright Report, Bryan covers a new intelligence warning tied to the war with Iran, including mysterious shortwave radio broadcasts believed to be coded signals that could activate Iranian sleeper agents abroad.    He also breaks down the latest military developments, from the remaining Iranian missiles and drones threatening the Strait of Hormuz to the growing oil crisis as tankers remain stuck and global markets brace for shortages.    Finally, Bryan examines the economic and political fallout, including pressure on President Trump to release U.S. strategic oil reserves, new polling on the war's popularity, and signs the White House may be narrowing its war goals to stopping Iran's nuclear program as a possible off-ramp.    "And you shall know the truth, and the truth shall make you free." - John 8:32     Keywords: Iran war update, Iranian sleeper agents shortwave radio, Strait of Hormuz crisis, Iran missiles TEL launchers, global oil shock 2026, Strategic Petroleum Reserve debate, Trump Iran nuclear strategy, U.S. Iran conflict analysis, Bryan Dean Wright podcast, The Wright Report

How are these political hoors worth hundreds of millions of dollars?? PLUS, Michele Steeb, CEO of Free Up Foundation and author of Answers Behind the RED DOOR: Battling the Homeless Epidemic, tells Shaun that Obama finally admitted his failure in his homeless housing mandate as it drove homelessness up to the highest rate in history. And The Heritage Foundation's Dr. EJ Antoni discusses the bastardization of fuel as this would have been the perfect time to use our Strategic Petroleum Reserve that was drained by Biden in 2023.See omnystudio.com/listener for privacy information.

G7 finance ministers have said they're ready to take measures to support the global energy supply, after meeting to discuss the economic turmoil caused by the US-Israeli war against Iran. Oil prices eased back below 100 US dollars a barrel, after they indicated this could include the release of strategic reserves. But they're still about 40 percent up since the start of the war, which has halted most exports from the Gulf. Concerns about the impact on the global economy have caused stock markets to fall in America, Europe and Asia.Also in the programme: Reports that members of Iran's women's football team are seeking refuge in Australia - we'll hear from a former Iranian sportsman who fled the country; and how AI is predicting the risk of serious heart disease from breast cancer screenings.(File Photo: A maze of crude oil pipes and valves pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US. Credit: Reuters/Richard Carson/File Photo)

In Episode 545 of District of Conservation, Gabriella recaps her trip to Arizona and discusses the impact of US-Israel strikes on Iran and domestic energy prices. Tune in to learn more!SHOW NOTESUniversity of Arizona PicturesA Grand Arizona Time Out WestRefill the Strategic Petroleum Reserve now, before it's too lateStrategic Petroleum ReserveUnder Biden, U.S. oil reserves to drop by 40 percentBiden sold off nearly half the U.S. oil reserve. Is it ready for a crisis?Starmer's answer to Iran energy shock: Go green fasterAmerica's Natural-Gas Bounty Is Cushioning U.S. Markets From Global Shocks

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

National Economic Director Kevin Hassett says the White House has no plans to tap the Strategic Petroleum Reserve to bring down oil prices. He says the US nonfarm payrolls report for February, which showed a loss of 92,000 jobs, was an "outlier." He speaks to Jonathan Ferro.See omnystudio.com/listener for privacy information.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

MacroVoices Erik Townsend & Patrick Ceresna welcome, Rory Johnston. They will discuss all things crude oil, starting with the Venezuela news and what it means for markets, then moving on to Iran, the U.S. Strategic Petroleum Reserve, and much more https://bit.ly/4qnVjQs    

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 Wednesday Headline Brief of The Wright Report, Bryan exposes a stunning Secret Service breach that put Vice President JD Vance and President Trump at risk, explains why emerging weapons like bioweapons and directed energy systems are reshaping warfare, and tracks escalating political and legal clashes tied to immigration enforcement, Venezuela, Greenland, China, and Iran. Secret Service Scandal Puts Leaders at Risk: An undercover sting revealed that Secret Service agent Tomas Escotto shared highly sensitive security details about Vice President JD Vance and President Trump, including movement patterns and advance travel plans. Bryan explains how such pattern of life leaks are exactly how foreign intelligence services plan assassinations and warns that internal ideological bias inside protective services now poses a grave national security threat. New Weapons That Change Everything: Secretary of War Pete Hegseth publicly warned that future military dominance will hinge on hypersonic missiles, long-range drones, space systems, biotechnologies, and directed energy weapons. Bryan breaks down why targeted bioweapons and portable energy weapons are no longer science fiction, how they may already have been used in Venezuela, and why cartels or hostile states gaining access would be catastrophic. SPR and Venezuelan Oil Strategy: Congress and the White House are considering how to use Venezuelan oil now under U.S. control to refill the Strategic Petroleum Reserve. Because the oil is heavy and high in sulfur, officials may sell it on the open market and purchase more suitable crude instead, turning Venezuela's resources into strategic leverage. Minnesota Protests Turn Organized and Political: Far left activists continue coordinated attacks on ICE officers in Minneapolis, with media outlets downplaying the political funding and organization behind the protests. Bryan explains why lawsuits by Minnesota officials to block federal immigration enforcement are political theater designed to energize the Abolish ICE movement, not serious legal efforts. Trump Moves Against Sanctuary Policies and Fraud: President Trump warned that federal funding will be cut off to sanctuary jurisdictions within ninety days unless they comply with immigration law. He also announced plans to revoke citizenship obtained through fraud nationwide, with Treasury Secretary Scott Bessent confirming investigations are underway in all fifty states. Greenland Becomes a Spy Battlefield: As U.S., Danish, Chinese, and Russian interests collide over Greenland, Bryan answers a listener question on CIA operations there. He explains how U.S. intelligence identifies motivations, recruits sources, and counters Russian and Chinese influence as all sides quietly prepare for long term control of the Arctic. Global Power Plays Intensify: The Pentagon is repositioning naval assets near Venezuela while courts battle over deportations. Trump is quietly seeking seizure warrants for Russian-flagged ghost fleet tankers to squeeze Moscow and Tehran. Meanwhile, new assessments warn China could neutralize the U.S. Navy around Taiwan by mass-producing hypersonic missiles faster than America can replace them. Iran and Argentina Close the Episode: Iran's protest death toll may exceed twenty thousand as Trump weighs military action despite regional warnings. Bryan closes with rare good news as Argentina repaid a $2.5 billion U.S. loan with interest, bolstering President Javier Milei's reforms and delivering a win for American taxpayers.   "And you shall know the truth, and the truth shall make you free." - John 8:32     Keywords: January 14 2026 Wright Report, Secret Service breach JD Vance, Tomas Escotto sting operation, Pete Hegseth new weapons warning, bioweapons directed energy systems, Strategic Petroleum Reserve Venezuelan oil, Minneapolis ICE protests Abolish ICE, sanctuary city funding cutoff, citizenship revocation fraud, CIA operations Greenland Arctic, China hypersonic missile threat Taiwan, Iran protest death toll Trump decision, Argentina Milei loan repayment