We know what’s coming and we are prepared.
🇪🇺 After the UK's Online Safety Act and Australia's decision to restrict much of social media to teenagers, the European Union plans to take it a step further than the two countries and implement AI scanning tools to read the private and public groupchats of European users and look for child sexual abuse material (CSAM).
The European Union wants to adopt by October 14th a final draft of its Chat Control Act which is marketed, just like in the case of the UK's Online Safety Act and Australia's ban on teenagers from using social media apps, that it is being done to protect the children!
The European Commission's premise with this act is that all European citizens are closeted pedophiles who regularly share CSAM in their private conversations and thus everything must be verified by the state to make sure that this premise is not confirmed. Not only does the EU want to implement this AI groupchat scan tool, it wants to implement everything that the UK and Australia did like mandatory age verification upon login, social media bans for teens etc.
End-to-end encryption apps in the EU would stop working as a result of the tech company not complying with this regulation or would be broken entirely upon compliance.
Unlike the UK and Australia, the EU wants social media companies to have AI scan tools not only detect CSAM but also automatically report it to the police. Hashing tools which are already in use by law enforcement and most tech companies to identify potential CSAM give way too many false positives, to the proportion of 1/5 hashed messages. The EU also wants internet providers to block certain URLs from outside the EU upon request from national authorities.
Currently there's no consensus among EU countries on how far this bill should go, with some concessions being made that users can refuse to have their conversations scanned but will then lose the ability to upload pictures, videos or audio files and also won't be able to receive any. Consensus on the matter is being expected to be reached by October 14th and by the end of 2025, a final draft should be ready.
The governments of Belgium, Czech Republic, Estonia, Finland, Germany, Greece, Slovenia, Luxembourg and Romania haven't decided if they support this bill or not. Only Austria, Poland and The Netherlands oppose this bill.
🇺🇸 #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...
