By Paul Sankey
Published on June 3, 2026 at 6:42 PM
Yet again, we find the Hormuz situation has actually deteriorated. CNBC today interviewed Israeli PM Netanyahu. He remains hard line, talking Iranian regime collapse. Bond vigilantes are marauding today, 30 year going through 5% again. Equity market doesn’t like it. And when they write the history of the AI bubble 2022-2027, the issuance by Google of $80bn of stock in early June 2026 will be one red line that was crossed. We have said Argentina …
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By Paul Sankey
Published on May 31, 2026 at 7:05 PM
Amazing to watch May 2026 pass so fast, and Hormuz still all-but shut. Everybody points to June as the month in which things turn ugly in terms of tank bottoms, and price going exponentially higher seeking to destroy demand. But bottom line, prices are lower, and everyone is still merrily flying around. In this note we re-visit our JetFuel thesis – as we witness record flights, what’s the problem? We conclude that the key answer …
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By Paul Sankey
Published on May 20, 2026 at 6:00 PM
NEW YORK, May 20 (Reuters) – The United States withdrew 17.8 million barrels of crude oil from its inventories, the highest on record, the Energy Information Administration said on Wednesday, as the Iran war has cut global supplies and raised demand for U.S. crude and products. In a week. Oil analysts nod and say “we are heading for operational minimum inventory levels, fast.” ~ When will I retire? We have booked Paul Cheng, recently retired …
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