We know what’s coming and we are prepared.
🛢 The Iran war is draining global oil inventories at a record pace:
Global oil stockpiles fell by ~4.8 million barrels per day between March 1 and April 25, the largest quarterly drawdown on record.
Crude makes up ~60% of this decline, with refined fuels accounting for the remaining.
Total visible oil inventories are now near the lowest level since 2018.
JPMorgan warns that total visible oil inventories could fall to operational stress levels of 7.6 billion barrels by June and further down to an operational floor of 6.8 billion barrels by September, assuming no resolution to the Strait of Hormuz closure.
This operational floor represents the bare minimum oil needed to keep global pipelines and refinery systems running, meaning the world would have zero remaining buffer against further supply shocks.
With inventories collapsing, the threat of sharper oil price surges and outright shortages is moving closer.
🔗 Global Markets Investor
America’s bees and beekeepers are losing a valuable ally just when they need its help most.
The U.S. Department of Agriculture plans to soon close the Beltsville Agricultural Research Center, a 6,500-acre agricultural research station in Maryland that is home to the nation’s premier bee research and disease diagnosis hub, the Beltsville Bee Research Lab.
The closure comes at a critical moment for bees. In winter 2025, many beekeepers lost over half their operations as pesticide-resistant varroa mites spread, bringing deadly viruses. The losses have led to low honey production, and soaring fuel costs have made shipping bees cross-country for agricultural pollination increasingly expensive, further stressing the industry.
