BREAKING: The UK, France, Germany, Italy, Netherlands, and Japan say they’ll take steps to stabilise energy markets and are ready to join “appropriate efforts” to ensure safe passage through Hormuz Strait.
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US-CHINA CRUDE SHIPPING COSTS HIT $29M PER TANKER
Daily tanker rates show it costs over $29 million to ship crude from the U.S. Gulf to China—about $14.50 per barrel. With WTI at $73.85, freight now accounts for roughly 20% of the crude price.
GOLDMAN SACHS WARNS OIL COULD HIT $100
Goldman Sachs says global oil prices could surge to $100 if exports through the Strait of Hormuz stay low for several weeks.
Baseline: 5 more days at ~15% of normal exports, then gradual month-long recovery. Brent expected to average $76/barrel in Q2.
Risk: Greater damage to oil infrastructure or prolonged Hormuz disruption could push prices higher.
Worst case: 5 extra weeks at current low volumes could drive Brent above $100.
Context: Brent last topped $100 in 2022 after Russia’s Ukraine invasion
Pizza activity around the Pentagon is experiencing an extreme spike this afternoon. Domino's Pizza (1.4 mi) at 326%, Pizzato Pizza (2.2 mi) at 208%, and Extreme Pizza (0.5 mi) at 127%. DOUGHCON level is 4.