Some 23 tankers have been spotted around Iran’s principal oil-export hub, the largest cluster to have gathered at the island since the US Navy began a blockade on the country’s ports a month ago, interdicting and seizing ships. The carriers — in anchorages around Kharg, berthed at crude- or liquefied petroleum gas-loading jetties — were visible on satellite images taken on May 16, reviewed by Bloo...
Some 23 tankers have been spotted around Iran’s principal oil-export hub, the largest cluster to have gathered at the island since the US Navy began a blockade on the country’s ports a month ago, interdicting and seizing ships. The carriers — in anchorages around Kharg, berthed at crude- or liquefied petroleum gas-loading jetties — were visible on satellite images taken on May 16, reviewed by Bloomberg News and confirmed by analysis from United Against Nuclear Iran, a US non-profit policy advisory group focused on Tehran. The current collection of tankers compares to four on April 13, just before US warships began gathering in the Gulf of Oman to check and stop vessels. “Vessels are accumulating at anchorages around the island, suggesting growing delays and bottlenecks across Iran’s crude and oil export system,” said Charlie Brown , an adviser to UANI. Analysis of tanker movements in the Persian Gulf has been hampered by inconsistent signals and by the availability of satellite images. Not all areas are covered by the European Union’s Sentinel 1 and 2, which also do not take images daily — and even when they do, cloud cover can complicate the assessment. The May 16 count includes a vessel apparently berthed in Kharg’s southeastern corner, at a terminal that primarily exports LPG, commonly used as cooking fuel. Crude-loading berths remained empty, satellite images show. Read More: Iran Juggles Oil Cuts and Storage Strain to Resist US Blockade Activity at Kharg Island has slowed as disrupted exports mean storage has filled up. Without a rotation of laden tankers being able to leave the area and fresh, empty ones entering to load up on crude, Iran needs to slow down oil production. As of May 17, American forces have turned around 81 commercial vessels and disabled four ships as part of their blockade of Iranian ports, the US Central Command said in a social-media post. The unidentified ship at the LPG terminal is the second such vessel to be observed there since the wa...
Thailand’s Constitutional Court will hear a challenge to the government’s 400 billion baht ($12 billion) emergency borrowing plan, casting uncertainty over its response to rising energy costs. The court said in a statement Monday that it would review whether the decree, which allows the Finance Ministry to raise funds without parliamentary approval, meets constitutional requirements for urgent nec...
Thailand’s Constitutional Court will hear a challenge to the government’s 400 billion baht ($12 billion) emergency borrowing plan, casting uncertainty over its response to rising energy costs. The court said in a statement Monday that it would review whether the decree, which allows the Finance Ministry to raise funds without parliamentary approval, meets constitutional requirements for urgent necessity, following a petition from 133 lawmakers. The case comes as Thailand faces mounting strain from higher energy costs and weakening demand linked to the Middle East conflict. Fiscal room is limited, with public debt nearing the government’s self-imposed ceiling of 70% of gross domestic product. Prime Minister Anutin Charnvirakul ’s borrowing plan is intended to fund cash handouts to about 30 million people and support farmers, fisheries and small businesses hit by rising costs. Household debt is already among the highest in Asia at about 90% of GDP. The government also aims to allocate about 200 billion baht to accelerate the transition to renewable energy. Critics argue that long-term investments such as energy transition should not be financed through emergency borrowing. Standard Chartered economist Tim Leelahaphan said by email that the loan decree could become “complicated.” A court ruling is expected within 30 to 60 days, he said. Relief Package Deputy Prime Minister Pakorn Nilprapunt , who oversees legal affairs, said Monday the government will press ahead with its borrowing plan and submit a cost-of-living relief package to the cabinet as scheduled on Tuesday, despite the court accepting the case. The court’s acceptance of the case follows due process, and the government will proceed as there has been no order to suspend the plan, he said. The cabinet will also discuss the court’s order at its Tuesday meeting and is likely to assign relevant agencies to prepare documents for submission to the court, according to Pakorn. Despite stronger-than-expected first-quar...
A screen shows that the Long Island Rail Road workers are on strike inside Atlantic Terminal on the first day of the strike in the Brooklyn Borough of New York City, U.S., May 16, 2026. Angelina Katsanis | Reuters A marathon day of negotiations that finished early Monday failed to end a strike that shut down the Long Island Rail Road, North America's largest commuter rail system, setting the stage...
A screen shows that the Long Island Rail Road workers are on strike inside Atlantic Terminal on the first day of the strike in the Brooklyn Borough of New York City, U.S., May 16, 2026. Angelina Katsanis | Reuters A marathon day of negotiations that finished early Monday failed to end a strike that shut down the Long Island Rail Road, North America's largest commuter rail system, setting the stage for a rough start to the work week for about 250,000 commuters. Unions representing rail workers and the Metropolitan Transportation Agency, which runs the railroad, negotiated through much of Sunday and early Monday after some prodding from the National Mediation Board and New York Gov. Kathy Hochul. The two sides came up short, but the talks went well enough that negotiators agreed to return to their work early Monday morning, according to a spokesperson for union workers. The negotiations lasted so long that even a deal could not have saved Monday morning's commute because of the time needed to get crews and trains in place. The National Mediation Board, the federal labor agency governing labor relations for railroads and airlines, summoned representatives for both sides to a Sunday afternoon meeting that got the talks started. They continued until nearly 1:30 a.m. Monday. The sides agreed to return to the negotiating table six hours later. Earlier Sunday, Hochul, appeared with the MTA's chief executive and said they were ready to do whatever was necessary to help talks along as a strike continued for a second day. "We all know that the railroad is the lifeblood of Long Island. Without it, life as we know it is simply not possible. The bottom line is, no one wins in a strike. Everyone is hurt," she said. Hochul offered to provide refreshments. Nation's busiest commuter railroad The LIRR serves hundreds of thousands of commuters who live along a 118-mile-long (190-kilometer-long) land mass that includes Brooklyn and Queens in New York City and the Hamptons, a summertime ...
The period spans from when tariffs were imposed under the IEEPA to the US Supreme Court’s ruling that the law did not give President Trump authority to impose them.
The period spans from when tariffs were imposed under the IEEPA to the US Supreme Court’s ruling that the law did not give President Trump authority to impose them.
Peathegee Inc/DigitalVision via Getty Images I have not been very bullish about the Invesco S&P 500 Momentum ETF ( SPMO ) since I started covering it, long expecting that narrow leadership and the sustained momentum persistence to cool. However, after a brief period of around 5-6 months from October 2025 to March 2026, when my less optimistic SPMO thesis was seemingly working out a bit, the latest...
Peathegee Inc/DigitalVision via Getty Images I have not been very bullish about the Invesco S&P 500 Momentum ETF ( SPMO ) since I started covering it, long expecting that narrow leadership and the sustained momentum persistence to cool. However, after a brief period of around 5-6 months from October 2025 to March 2026, when my less optimistic SPMO thesis was seemingly working out a bit, the latest rebound from the March lows has got me thinking. The empirical data is too strong to ignore now, and there is more indication that the AI trade, although even narrower now than earlier in 2025, is materially alive enough for SPMO to continue to be relevant, almost till return data itself points to a regime where SPMO's momentum philosophy has stopped working. Despite strong data now pointing to SPMO's strength, the current macro backdrop of stagflation risks and geopolitical uncertainties does weigh down the possibility of an upgrade in rating for the ETF. I keep it as a Hold , but with a more constructive view. I am mindful of markets staying bullish till the last bear converts to a bull - and to be fair, my stance has been one of caution and a slower grind up since around Q4 last year (and hence momentum strategies becoming less effective), not bearish really. But it is equally true that more money is lost waiting for corrections than actual pullbacks. Hence, net-net, SPMO should be viewed more constructively if we were to go by strong data indications. The Hold rating now is to respect the macro pressures that subjectively look concerning and the fact that SPMO often makes its best moves in the initial parts of rebounds (which is now past). Why I Was Cautious and What Changed The earlier thesis I had for SPMO was centered around the risks of extreme mega-cap concentration risks. By mid- to late-2025, the rally increasingly looked like an advanced momentum phase rather than the beginning of a fresh expansion leg. Macro factors were looking unsupportive - rising yields, t...
PM Images/DigitalVision via Getty Images CRE finance REITs remain under pressure, as earnings challenges continue to paint a stressed picture for the industry as a whole. Blackstone Mortgage Trust, Inc. ( BXMT ), however, fully supported its dividend with distributable earnings in the first quarter. Coverage trends in the sector remain overall weak, with both Starwood Property Trust, Inc. ( STWD )...
PM Images/DigitalVision via Getty Images CRE finance REITs remain under pressure, as earnings challenges continue to paint a stressed picture for the industry as a whole. Blackstone Mortgage Trust, Inc. ( BXMT ), however, fully supported its dividend with distributable earnings in the first quarter. Coverage trends in the sector remain overall weak, with both Starwood Property Trust, Inc. ( STWD ) and Ladder Capital Corp ( LADR ) under-earning their dividends with income generated from their massive commercial mortgage pools in the first quarter. However, Blackstone Mortgage Trust's portfolio is shifting and potentially set for strong growth in 2026, as interest rates are set to remain higher for longer amid a recent reacceleration of inflation. Blackstone Mortgage Trust's discount to book value has also narrowed since it cut its dividend in 2024, highlighting that investors have increasing confidence in the CRE finance REIT's income trajectory as well as the safety of the dividend. Seeking Alpha Previous rating I rated shares of Blackstone Mortgage Trust a 'Buy' previously (February 2025)— Portfolio Shift, Growth, Cheap —because the CRE finance REIT successfully restructured and shrunk the size of its U.S. office loan portfolio, which helped the company de-risk its balance sheet. Blackstone Mortgage Trust also reset its dividend in 2024, which has come to benefit Blackstone Mortgage Trust in 2025, especially. I continue to like the setup for Blackstone Mortgage Trust, and especially the REIT's stronger-than-average coverage trend. Potential to return to growth in 2026 Blackstone Mortgage Trust is a major mortgage loan originator in the U.S. and, as such, takes on an important role in financial markets. Institutional real estate investors need loans to build new commercial projects such as shopping centers, office buildings, and industrial facilities, with companies like Blackstone Mortgage Trust standing ready to provide the necessary capital for investment. In the...
Ukraine remains uncertain about the US position on Russian oil, even after Washington let its waiver for purchases of Russian crude expire. “Well, I don’t know what can we expect from the United States — it’s just seeing the situation,” Finance Minister Serhiy Marchenko told reporters on Monday. A surge in global oil prices has made Russia a beneficiary of the Middle East war, which has left refin...
Ukraine remains uncertain about the US position on Russian oil, even after Washington let its waiver for purchases of Russian crude expire. “Well, I don’t know what can we expect from the United States — it’s just seeing the situation,” Finance Minister Serhiy Marchenko told reporters on Monday. A surge in global oil prices has made Russia a beneficiary of the Middle East war, which has left refiners scrambling to replace lost barrels. Last week, the Trump administration allowed a waiver that encouraged more Russian crude sales to lapse . The expiration effectively ends for now a brief period where the administration eased sanctions on some Russian oil, enabling purchases that would otherwise be barred. The Trump administration issued an initial waiver in March and a second after the first expired in April — both applying only to a subset of Russian oil that had already been loaded onto tankers. “We need to continue to pressure Russia, to put additional sanctions on Russia,” said Marchenko, speaking in Paris, where he’s a guest at the meeting of Group of 7 finance ministers. “From our side, we do our best to destroy Russia’s economy, specifically coal refinery and others.” One Hedge Fund Holds the Keys to Ukraine’s Wartime Industries Black Rain in Russia’s Ryazan as Ukraine Hits Major Refinery US Allows Russia Oil Sales Waiver to Expire Despite Tight Market Kyiv Looks Past Summer Offensive to Crucial Wartime Winter Speaking ahead of the G-7 meeting, German Finance Minister Lars Klingbeil said that ensuring renewed attention on the war in Ukraine is a priority. “We must not lose sight of Russia’s brutal war of aggression,” Klingbeil, who also serves as vice chancellor, said in a statment. He is signing a double-taxation agreement between Germany and Ukraine in Paris alongside Marchenko.
Hong Kong authorities have allocated HK$5 billion (US$638 million) in funding for efforts to safeguard national security, bringing the total amount earmarked for this purpose to HK$18 billion over the past five years, an official document has revealed. The South China Morning Post’s check on the government’s general revenue expenditure accounts for the financial year ending in March 2026, showed a...
Hong Kong authorities have allocated HK$5 billion (US$638 million) in funding for efforts to safeguard national security, bringing the total amount earmarked for this purpose to HK$18 billion over the past five years, an official document has revealed. The South China Morning Post’s check on the government’s general revenue expenditure accounts for the financial year ending in March 2026, showed a non-recurrent expenditure of HK$5 billion earmarked for a “special fund to meet the expenditure for...