We know what’s coming and we are prepared.
Summary:
Prime Minister Netanyahu says Iran made a big mistake tonight and will pay for it.
Common estimates show the attack on Israel involved at least 180 ballistic missiles. The Pentagon says about 200, or about twice the size of the prior April attack.
The waves of launches constituted the largest missile strike on Israel by Iran in history.
IRGC is claiming that 90% of missiles successfully hit their targets in Israel.
There were confirmed strikes on the ground, but no official casualties reported.
Israel's emergency authorities have lifted all restrictions, and people in Tel Aviv have emerged from bomb shelters and returned to the streets.
White House says Iranian attack on Israel apparently "defeated and ineffective".
Sullivan says there will be consequences for the attack, and US is consulting Israel on next steps or a potential response
Axios' Barak Ravid has told CNN that he expects major Israeli retaliation strikes on Iran to come within the next several hours.
Iranian state TV says hypersonic Fatah missiles were used in the attack.
Iran's President on X stated he does not seek war but will face any threat from Israel firmly.
Iran has said it gave no prior warning to US, but it did consult with Russia.
The IDF is vowing to 'strike powerfully' at targets in the Middle East.
IDF spox: "Iran carried out a serious act tonight and is pushing the Middle East to an escalation. We will act at the place and time of our choosing, in accordance with the guidance of the political echelon."
IDF spox: "Tonight’s event will have consequences."
Iran-backed Iraqi militias say if the US takes part in “any hostile action” then US bases will come under attack.
UN chief condemns ‘broadening Mideast conflict’ without mentioning Iran.
Blinken: Iran's missile attack on Israel 'unacceptable,' entire world should condemn.
US says it is ready to defend Israel, with Biden ordering US military assets to confront any further inbound projectiles.
At least two guided-missile destroyers in Eastern Mediterranean fired interceptors at inbound Iranian missiles.
Pentagon says about a dozen interceptor missiles were fired.
Pentagon refuses to say whether US will join in on future kinetic strikes against Iran.
🇺🇸 #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.
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🇨🇳🛢 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...
