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
Police in Winona Minnesota are stunned after every single one of their Flock cameras were suddenly removed in a single night.
According to the police department, all 8 of the town's cameras were cut down and hauled away.
Police are asking for the public's help to identify the individual, but the public has been responding with comments such as:
"The Flock cameras tore themselves down"
"Whoever did it, was fishing with me"
"Whoever it was, was at Bible study with me"
Follow @zeeemedia
Website | X | Instagram | Rumble
Nearly 20,000 people are publicly vouching for a man accused of cutting down Flock cameras in a small West Virginia town.
People commented:
-
"He was saving my neighbor's dog from a fire all day, couldn't be him."
-
"This man is innocent. I saw him serving at a soup kitchen."
-"Couldn't be him. He was helping me replace the roof on a homeless shelter."
The man, Wesley Jackson, has pleaded Not Guilty.
Follow @zeeemedia
Website | X | Instagram | Rumble
🇮🇷🏆🇺🇸 They Saw It Coming
How American military planners anticipated failure in Iran
In mid-February 2026, before the US military initiated the airstrikes that began Operation “Epic Fury,” the National Intelligence Council (NIC), an agency of the executive branch created to synthesize the analysis of the US’s 18 intelligence agencies, submitted to the president a classified report detailing the prospects of an attack on Iran. This assessment, first reported on in the Washington Post and subsequently confirmed by the Associated Press, painted a grim picture.
It concluded that an offensive operation launched by the US military would be unlikely to dismantle the central pillars of the Iranian government. Assassinating Iranian Supreme Leader Ali Khamenei could backfire, resulting in the consolidation of Iranian military and political structures and the activation of emergency protocols the Iranians had been preparing for years. Iran’s domestic opposition was unlikely to be ...
The Shadow Of Jihad And Ethnic Cleansing: The Systematic Persecution Of Christians In Kosovo
200,000 Serbs expelled since 1999. Over 150 Orthodox churches destroyed. Kosovo produced more ISIS foreign fighters per capita than any European country — and Pristina's government continues to enable it.
