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OK City

OKLAHOMA CITY -The accused ringleader of a billion-dollar illegal marijuana operation in Oklahoma was released on Wednesday from the Oklahoma County Detention Center. Jail officials confirmed Chen was released to the Oklahoma County District Attorney’s Office.
An Oklahoma County judge set Hao Chen’s bond at $100,000 on Tuesday after the Oklahoma Attorney General’s Office did not show up to his arraignment hearing.

AG Gentner Drummond issued a statement expressing serious concern that Chen was given a lower bond than the $1M his office requested.

Chen is the accused head of a $1.5B black market marijuana operation that was based in Oklahoma. He was arrested in New York when the AG’s office rolled out “Operation Blunt Force” last month. The AG’s office responded to questions about bond and the possibility of Chen and his co-conspirators fleeing the country during a press conference about the operation.

“That is certainly something we will continue to monitor as well and if they do run, we’ll go find them,” said Dane Towery, Oklahoma Attorney General’s Office.

When asked how defendants are being monitored, Towery responded saying the AG’s office will monitor them.

“To see if they come to court, if they’re in constant contact with their defense attorney and that’s the vest we can do at the point,” said Towery.

Chen’s attorney Scott Adams told News 9, “Mr. Chen has never been a danger to the community nor a flight risk. Mr. Chen who is proudly a U.S. citizen looks forward to his day in court.”

Court records show Chen has been required to wear a GPS monitor.

The AG’s office arrested 19 people with ties to the “Hao Chen Organization.” A multi-county grand jury returned an 18-count felony racketeering indictment last year.

The AG’s office sent News 9 the following statement:

“The Attorney General’s Office was not notified of Hao Chen’s arraignment and therefore did not have an opportunity to be present, despite contacting the court in advance to determine when the matter would be set. Yesterday afternoon we went before a district judge seeking a $1 million bond based on the serious nature of the allegations and the danger Chen poses to the community.

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Markets

🌆 Market News Digest
[2026-07-19 17:00–2026-07-20 16:30 EST]

🔥 Top Stories
• U.S.-Iran conflict escalates — fresh U.S. strikes, Iranian retaliation, and talks/ceasefire chatter keep markets on edge
• Oil surges on Hormuz risk — Brent topped $90 intraday, WTI near $83, with tanker incidents and Saudi/Hormuz shipping threats
• Trump escalates pressure on Iran — says Iran will “pay” for U.S. deaths; U.S. adds aircraft and signals next campaign phase
• Canada CPI cools — headline CPI eased to 2.8% y/y, supporting easier BoC path and denting CAD
• UK government reset — Starmer resigned; Burnham took over with a reshuffled cabinet, pledging fiscal rules but more flexibility

⛽ Oil & Energy
• Tankers hit / shipping disrupted — fires, explosions and drone threats in Strait of Hormuz, Bahrain, Kuwait and off Oman
• Chevron shuts Petronius output — Gulf platform shut-in as storm risk adds to energy supply worries
• CPC oil loadings suspended — attacks on tankers halt Kazakhstan ...

🛢 Analysts estimate the U.S. has about 43 days until its crude oil inventory is empty.

🔗 Barchart

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Inflation

⛽️ While the price of crude oil is still below the prices seen during the peak of the 3rd Gulf War fighting, diesel prices on the other hand are surging and surpassed their peak in May.

Diesel is the most important fuel for the global economy, widely used in agriculture to fuel tractors and combine-harvesters.

@CIG_telegram

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