Southern Cross 🇺🇸✈️

[Southern Cross 🇺🇸✈️ @normal_speed320]

Ready.

[Southern Cross 🇺🇸✈️ @normal_speed320]

@Combat_learjet ORD never had problems in the past. Now it’s just a shit show. I avoid this place now and it’s not because of the controllers. No one is playing on the same sheet of music any longer.

[Southern Cross 🇺🇸✈️ @normal_speed320]

@DrrDenise You’re in Hawaii?

[Southern Cross 🇺🇸✈️ @normal_speed320]

@NewYearsDani @fenixash8 That’s why I asked her ….she is

[Southern Cross 🇺🇸✈️ @normal_speed320]

Food trucks (2) in the neighborhood @fenixash8

[Southern Cross 🇺🇸✈️ @normal_speed320]

Everyone’s here 🌊

[Tom Fitton @TomFitton]

NEW: @JudicialWatch announced that it forced the release of 48 heavily redacted pages from the FBI through FOIA lawsuit revealing that a Butler County Sheriff’s deputy exchanged emails with would-be Trump assassin Thomas Crooks prior to the July 13, 2024, shooting. The records detail that a SWAT officer recovered a “gray remote device” with an antenna from Crooks’ pocket after he was killed.

[Southern Cross 🇺🇸✈️ @normal_speed320]

@GordoCDA All of these regimes are exactly the same fundamentally. Same religion. Bizarre beyond belief.

[Southern Cross 🇺🇸✈️ @normal_speed320]

Back to the mountains to meet my sweet @@fenixash8

[Southern Cross 🇺🇸✈️ @normal_speed320]

And done. Mountains next

[Derrick Evans @DerrickEvans4WV]

What an insane statistic.

If you spent $1 million per day, every single day since Jesus was born, you would have only spent $740 billion.

Less than 2% of our national debt. That’s hard to even comprehend.

[Southern Cross 🇺🇸✈️ @normal_speed320]

Oil price ⬇️

[Morgan Downey @morgan_downey]

The Last Barrel Thesis:

The marginal cost of production is usually the free market way oil prices are set. But since the Hormuz crisis began, the free market for oil has not operated. The marginal free market barrel has been replaced temporarily by an artificial last barrel supplier.

Why do I say artificial: because marginal seller of oil is currently price insensitive (the SPR). This is why oil prices have not rallied sustainably beyond $100. The market first needs to consume the SPRs last barrels.

Only then will commercial price sensitive buyers become the last barrels once again and true price discovery begin. Only then will we see demand destruction, a recession, short term collapse below marginal oil production costs, and gradual stabilization at the new marginal $80-$100 floor.

The market cannot look through the SPR sales as they have temporarily messed up oil price formation. Some in the market think that even if the last barrel of SPR is drained we will see further govt action (price controls, export controls, seizure of commercial inventories) that will drag out this last barrel interference in market prices for much longer.

The challenge will be that governments interfering in market prices usually ends in economic disaster.

First a little pre-crisis (Jan 2026) history. The marginal cost of oil moved from around $60 to roughly $90 WTI, and here’s why:

[HFI Research @HFI_Research]

Tank Bottom: Europe, Singapore next

[The Kobeissi Letter @KobeissiLetter]

What just happened?

The S&P 500 just erased nearly -$2 TRILLION of market cap just hours after 3rd strongest US jobs report in 18 months.

Meanwhile, Bitcoin is officially down over -50% from its record high in October 2025.

What's happening? Let us explain.

(a thread)

[Rory Johnston @Rory_Johnston]

Crude and the S&P500 falling tightly together is something I haven't seen in a while.

[Southern Cross 🇺🇸✈️ @normal_speed320]

@vjeannek Or the Bears were getting taxed into the cosmos.

[Southern Cross 🇺🇸✈️ @normal_speed320]

European jet fuel 📉

[🇺🇸 Kyle Bass 🇹🇼 @Jkylebass]

Europe’s jet fuel situation is deteriorating rapidly.

Spain, France, Italy, and others have warned private aviation operators that jet fuel may be unavailable this summer…at any price. Commercial aviation isn’t immune: 30–50% of flights will face disruption or cancellation.

After 97 days of inventory draws, distillate supplies are heading below critical levels. If the IRGC’s stance on highly enriched uranium remains unchanged, euro-area shortages could become critical within two months.

[Southern Cross 🇺🇸✈️ @normal_speed320]

OMG. We live in a clown world.

Here we go again.

[First Squawk @FirstSquawk]

IRAN INFORMED PAKISTAN OF ITS ACCEPTANCE TO TRANSFER PART OF ITS URANIUM TO A THIRD COUNTRY IT AGREES UPON

[JustDario @DarioCpx]

To gauge the extent of the financial crisis the BOE is helping the UK government to cover up, look no further than the liquidity the BOE is pumping in the system via its ST-REPO

This week UK institutions borrowed a record ~123bn GBP and you heard NOTHING about it in the news