We know what’s coming and we are prepared.
An unlikely coalition
The New Popular Front was an 11th-hour alliance, born out of perceived necessity, bringing together two moderate left-wing parties - the center-left Socialist Party and the Green Party — and two far-left movements — Jean-Luc Mélenchon's France Unbowed and the Communist Party.
The alliance wants to lower the retirement age, which Macron raised last year, and vastly expand government spending on social welfare, environmental protection and health care.
Macron called snap elections last month after his coalition was trounced by National Rally in European parliamentary elections, gambling that the possibility of a far-right government would push French voters to reaffirm his mandate.
While he appeared Sunday to have been correct about how the public would respond to the threat of the country's first far-right government since World War II, he seemingly underestimated the appeal of the left.
In the first round, the New Popular Front came in second with 28 percent of the vote, behind the 33 percent of votes cast for National Rally. Macron's centrist alliance secured only 21 percent.
French elections are decided at the district level, so while National Rally and the New Popular Front had more than 30 candidates each who won more than 50 percent of the vote and were elected to Parliament outright, other districts went to a runoff between the top two or three candidates.
In districts where Le Pen's candidates won a narrow victory, the leftist alliance and Macron's centrist coalition combined efforts, encouraging weaker candidates to drop off the ballot. It was primarily candidates from the left, including Mélenchon's France Unbowed, who renounced their second-round participation, according to France's Le Monde newspaper.
Can the center (left) hold?
While the New Popular Front has come out on top, they are nowhere close to securing a
parliamentary majority. Unless moderate members of the alliance are able to form a government with Macron's centrist allies, France could be headed for political gridlock with just weeks until Paris is set to host the Olympics.
After the first projections Sunday, Mélenchon, the most widely known figure in the alliance, called on Macron to invite the bloc to form a government.
"The president must bow and admit this defeat without trying to circumvent it," Mélenchon said.
"No subterfuge, arrangement or combination would be acceptable" to keep his coalition from power, he added.
🇺🇸 #Oklahoma high school principal (Kirk Moore) seen charging at and disarming a school shooter.
The suspect, identified as 20-year-old Victor Hawkins, was a former student who said he wanted to shoot up the school “like the Columbine shooters did.” While taking down the shooter, Moore was shot in the leg. He is expected to recover.
When the Principal woke up that day, he never thought he would be tackling a gunman.
Follow us -> LiveLeak
🇨🇳🛢 How much strategic oil does the world actually have in reserve?
Global strategic crude oil inventories stood at ~2.5 BILLION barrels as of December 2025, according to the US Energy Information Administration.
China holds by far the largest stockpile at 1,397 million barrels, more than 3 times the US Strategic Petroleum Reserve of 413 million barrels, which itself sits at only 58% of its full storage capacity of 714 million barrels.
China added an average of 1.1 million barrels per day to its strategic inventories throughout 2025, with preliminary data suggesting it continued building stockpiles in early 2026 ahead of the Iran War.
Japan holds the 3rd-largest reserve at 263 million barrels, followed by OECD European countries at 179 million barrels.
Meanwhile, the US is releasing 172 million barrels from its Strategic Petroleum Reserve to suppress oil prices, part of a broader 400 million barrel coordinated release agreed by 32 IEA member nations in March.
🔗 ...
🛢 JP Morgan Warns Oil Market Out of Balance, Prices Must Rise
🔸The closure of the Strait of Hormuz, through which roughly 20% of the world’s oil flows, has removed 13.7 million barrels per day from global supply in April alone. A JP Morgan research note warns the market has no good way to replace it.
🔸Normally, spare production capacity in Saudi Arabia and the UAE acts as the market’s shock absorber. But that buffer has effectively been removed, eliminating the system’s first line of defense.
🔸With spare capacity unavailable, markets turned to inventories
➤ Global stockpiles are now being drained at ~7.1 mbd in April, an extraordinary pace, according to the note.
🔸Meanwhile, demand is collapsing because supply simply isn’t reaching users — “forced demand destruction.”The hardest hit sectors include:
▪️ Petrochemical plants across Asia are shutting down or slashing output as LPG, ethane, and naphtha flows from the Gulf collapse
▪️ Airline jet fuel ...
🛢⛽️ Global oil inventories are heading toward RECORD LOWS:
Global visible oil inventories have fallen -255 million barrels since the start of the conflict on February 27, to 7,864 million barrels.
Total estimated oil draws, including non-OECD refined products storage, have accelerated to 10.9 million barrels per day in April, the largest monthly draws on record since 2017.
Cumulative estimated draws since the start of the war now stand at 474 million barrels, with Hormuz flows holding at ~10% of normal, or 2.0 million barrels per day.
Meanwhile, even in an optimistic scenario where Strait of Hormuz flows begin recovering by late April, it is unlikely to prevent global visible inventories from reaching all-time lows, according to Goldman Sachs.
As inventories keep falling, physical oil markets are likely to require sharply higher prices for immediate delivery, since buyers cannot wait months for cheaper futures delivery when stocks are running critically low.
Goldman also warns...
