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Many of Ukraine’s long-range drones cost between $20,000 and $100,000, according to public estimates. When one gets through, it can knock out refinery equipment that
Seven months ago, Iran closed the Strait of Hormuz and the oil market assumed the Gulf would be hostage until the war ended. This week
While everyone was watching the AI executives file into the White House on Tuesday, a much bigger story was sitting in a filing with the
Here is a story that should be on the front page of every financial site this morning, and isn’t. The Pentagon confirmed that hackers had
Everyone is watching the wrong thing this morning. The headline is that President Trump rejected Iran’s proposal to reopen the Strait of Hormuz over the
The readout landed last night. Trump and Xi extended the trade truce by two months, to January 10. No tariff cuts. No firm commitments on
Two weeks ago I drew you a map of what Iran’s proxies can reach: the Strait of Hormuz, the East-West pipeline, the Bab el-Mandeb, and
On Friday I told you Iran’s proxies had taken position at both of Saudi Arabia’s exits. On Saturday they went after the capital. At dawn
Brent crude futures closed Tuesday around $108. Dated Brent, the price for physical barrels that actually get loaded onto tankers, traded above $130. Dubai and