BREAKING: World oil inventories are projected to hit their operational floor of 6.8 billion barrels this month if the Strait of Hormuz stays shut, per JPMorgan.
Below this level, pipelines can't maintain pressure and refineries start failing, regardless of what price oil is trading at.
This would mark the first time in recorded history the world has had to worry about physical oil availability, not just price.
BREAKING: Total consumer credit surged +$18.1 billion in July, to a record $5.19 trillion.
This follows +$14.6 billion in June and marks the 13th consecutive monthly increase.
Revolving credit, which includes credit cards, jumped +$2.8 billion, to a record $1.36 trillion.
Non-revolving credit, covering auto and student loans, rose +$15.3 billion, to $3.83 trillion, an all-time high.
This also marks the biggest monthly increase since March 2025.
US consumers are "fighting" inflation with more debt.
JUST IN: 🇫🇷 11% of gas stations in France are now out of gas or diesel.
• Diesel has surged to €2.38 per liter, putting it within 1% of a record high.
• French President Emmanuel Macron called an emergency meeting to address the situation.
• The French government is preparing financial assistance for drivers who travel long distances.