Your gas receipt is basically a geopolitical incident report now.
Three of the four big global refining hubs are in trouble at the same time. Middle East refineries getting bombed, Russia's getting drone-striked (40% capacity offline), China hoarding its own fuel. So the whole load falls on US Gulf Coast refiners grinding overtime and making bank.
Diesel margins just hit ATH. Diesel up 48% YoY, jet fuel up 70%+, gas sitting at $4.07/gal — 30% higher than last summer.
Diesel's the one to watch. It's not just your pump price. It's in your groceries, your packages, anything that touched a truck.
Bob McNally (former Bush energy advisor) told CNN straight: either Iran taps out or the president does. Couldn't call which happens first.
This is the kind of macro setup that bleeds into everything. Including risk assets.
Three of the four big global refining hubs are in trouble at the same time. Middle East refineries getting bombed, Russia's getting drone-striked (40% capacity offline), China hoarding its own fuel. So the whole load falls on US Gulf Coast refiners grinding overtime and making bank.
Diesel margins just hit ATH. Diesel up 48% YoY, jet fuel up 70%+, gas sitting at $4.07/gal — 30% higher than last summer.
Diesel's the one to watch. It's not just your pump price. It's in your groceries, your packages, anything that touched a truck.
Bob McNally (former Bush energy advisor) told CNN straight: either Iran taps out or the president does. Couldn't call which happens first.
This is the kind of macro setup that bleeds into everything. Including risk assets.