We know what’s coming and we are prepared.
🛢 We Are 'Still' Going Full Speed Into The Wall
Product storage is about to get tighter unless China steps in and lifts the product export ban. If it does, expect a meaningful reversal in crude.
WTI is barely hanging on to $70 for its dear life, but please remember that consumers use petroleum products like gasoline and diesel; they don’t use crude oil. Refineries do, and this is why it was always important for us to pay attention to crack spreads along with crude timespreads.
Note: Please divide it by 3.
The fever in the market today is that crude is oversupplied, but products are undersupplied. How can this be possible?
Well, China’s June crude import data so far is -4.7 million b/d y-o-y, and teapot refineries are operating at 50% utilization. Compared to US refineries operating at 95% and PADD 2 refineries operating over 100%, you can see where the disconnect is.
But here’s the thing. If end-user demand isn’t down and you still have a production shut-in of ~8 million b/d, you are losing barrels in one form or another. Yes, China might not be importing crude, but it is drawing down product inventory. No one has visibility into how much China has in products right now, but it can’t be far from very low levels.
The same could be said for product inventories across the globe. Elevated crack spreads are a sign that despite higher refinery throughput in the coming weeks/months, the world still doesn’t have enough products. You can see this in the price action in the spreads.
đź”— https://www.hfir.com/p/we-are-still-going-full-speed-into
🇺🇸 A group of students in Lubbock #TX have started punching, kicking, and beating the teachers.. in the middle of the school day. Students can be seen dragging white teachers by the hair. How is anyone supposed to learn in this environment? It's worth investigating.
Follow main channel -> LiveLeak
Follow private channel -> LiveLeak Private
📝 🇺🇸 🗳 Trump and the GOP built a potent political base and then dynamited it so thoroughly; an astonishing rise and fall.
The medium to long term issue is just now, the Democrats earnestly don't want to deliver much of anything to their voters either. They don't even earnestly oppose the war in Iran and obviously they are furiously stroking it to the heckin' Ukrainians more overtly that Trumps gimp suited twats did.
Can the country survive 2 years of a congress unlikely to do much except investigate and hold hearings? The economy will almost certainly crumble from energy crisis, and the wars are respectively unwinnable and not very popular. Democrats are as dedicated to Zionism as the GOP, just more lowkey about it.
The real danger for America is either a Dem slimmer majority; that tries to "AHH Schucks we couldn't get anything done.... vote for us again, just not toooooo much okay?" or a Dem giga-majority that has to just outright avoid doing anything and says "Fuck it!".
...
BREAKING: Iranian media publishes instructional guidelines for Iranian citizens in preparation for the possibility of a nuclear attack:
• Avoid looking directly at the intense light resulting from the explosion.
• If outside buildings and unable to enter immediately, take shelter behind a barrier and lie on the ground while covering the head and face.
• After the blast wave passes, enter the nearest building, avoid staying to watch or take photos, and do not take shelter inside vehicles.
• Head to the basement or interior parts of the building, away from windows and exterior walls.
• Close doors and windows and turn off air conditioning and ventilation devices that draw air from outside.
• Remove outer clothing exposed to contamination without shaking it off, and place it in a tightly sealed bag away from people, without going outside to dispose of it.
• Shower with lukewarm water and soap, and use regular shampoo without conditioner.
• If showering is not...
TLDR: Basically it was a social engineering phishing attack in two parts. One of the engineers downloaded a bogus AI coding tool off of a fake link on Google, and the second engineer was tricked by a fake interviewer for a new job to download a coding “assignment” containing a virus. With those two engineers compromised they could gain access to Binance.
The takeaway here? You are only as strong as your weakest link. Social engineering remains the best way to hack systems. Also DO NOT DOWNLOAD THINGS. Check to see if the Google links are REAL, do not click links or download things for “job interviews.”
Separately phishing similar to this happens all the time on X. People will DM you posing as journalist or whatever and ask you to set an interview time by connecting your X account to some calendar. Don’t do that. In the words of Admiral Ackbar, it’s a trap.
Also separately separately nobody from Google is trying to call you. We promise you. Don’t be a mark.
Also she’s...
