The first quarter of 2026 marked a sharp shift from the broad-based strength that closed out last year. The S&P 500 finished in negative territory as investors wrestled with a new war in the Middle […]
Why Gas Prices Spike Overnight—Even For The World’s Largest Oil Producer
Gasoline prices continue to surge. Drivers saw increases of roughly 50 cents per gallon almost overnight following the outbreak of hostilities with Iran. According to AAA, the national average price of gasoline has climbed by […]
There Is No Plan B for the Strait of Hormuz
As the world braces for a potential “Battle of Hormuz” to reopen the world’s most important energy chokepoint, governments and energy markets are scrambling to answer a daunting question: What happens if the Strait of […]
Iran Is Using Its “Nuclear” Option
For decades, global attention has focused on the potential “red line” of Iran’s nuclear program. Intelligence agencies track centrifuge installations, debate enrichment levels, and speculate about the possibility of a nuclear breakout. But while the […]
Iran May Not Have a Nuclear Weapon—But It Has a Nuclear Option
For decades, global attention has focused on the potential “red line” of Iran’s nuclear program. Intelligence agencies track centrifuge installations, debate enrichment levels, and speculate about the possibility of a nuclear breakout. But while the […]
What the Strait of Hormuz Crisis Could Mean for Global Prices
Oil prices are notoriously difficult to forecast. The market has a long history of humbling anyone who speaks with too much certainty. There are just too many complex variables involved. At the end of 2025, […]
Why Hormuz Disruptions Hit California First
The United States produces more crude oil than any country in history, pumping more than 13.5 million barrels per day. On paper, that suggests a high level of energy security. But energy security for different […]
Hormuz And The Fertilizer Chokepoint
In the wake of U.S. and Israeli strikes on Iranian military infrastructure, the financial press has reflexively focused on oil. Tanker traffic, Brent crude, and the risk of triple-digit prices dominate the discussion. But oil […]
Why Geopolitics Is Overriding Bearish Oil Data
On paper, oil prices should be falling. The Energy Information Administration reported a 16-million-barrel build in U.S. crude inventories — the largest weekly increase in three years and far above expectations. In a purely fundamentals-driven […]
The Future of AI May Depend on Nuclear Reactors
For years, Silicon Valley took electricity for granted. The cloud sounded intangible, almost detached from the physical world. But now, artificial intelligence is ending that illusion. Behind every large language model and AI assistant sits […]