Russia Bans Diesel Exports, Assuring Even Higher Prices As was widely speculated in recent days, Russia banned exports of diesel in order to avoid domestic shortages after a flurry of attacks by Ukrainian drones on the nation’s refineries. “Today we introduced ban on exports of diesel, ” Deputy Prime Minister Alexander Novak said at the government’s meeting with President Vladimir Putin. The decis...
Russia Bans Diesel Exports, Assuring Even Higher Prices As was widely speculated in recent days, Russia banned exports of diesel in order to avoid domestic shortages after a flurry of attacks by Ukrainian drones on the nation’s refineries. “Today we introduced ban on exports of diesel, ” Deputy Prime Minister Alexander Novak said at the government’s meeting with President Vladimir Putin. The decision will further squeeze global fuel markets, which are already under pressure due to the supply disruption caused by the Iran war. Russia's decision means that the recent surge in the diesel margins to record highs, which have completely disconnected with oil prices, are set to rise even more. Last year, Russia accounted for about 11% of global supplies of diesel, according to data compiled by Bloomberg from analytics firm Vortexa. The logical corollary is what the DOE reported earlier today, namely that US product exports - which include diesel and other refined products - surged to a record high. Exports of the fuel were previously banned only for traders and other sellers in Russia that don’t make their own fuel. The diesel ban comes on top of existing restrictions on most shipments of gasoline and jet fuel. Russia has been struggling to ensure domestic oil-product supplies and to contain prices at the pump after drone attacks damaged several refineries. Ukraine’s intensified strikes pushed Russia’s crude-processing rates to multi-year lows. Many regions have been forced to impose some degree of fuel rationing because of the disruptions. Even before the ban, Russia’s diesel and gasoil exports were dropping significantly. During the first three weeks of June, its exports of diesel and gasoil averaged about 490,000 barrels a day, only slightly more than half of what the nation shipped to foreign markets in 2025, according to data compiled by Bloomberg from Vortexa. Tyler Durden Wed, 07/08/2026 - 13:10
The Pitt led all nominees with 25 in a dominant second season, while Hacks led all comedies with 24 for its final season as the Emmy nominations were announced on Wednesday. HBO Max’s emergency room series The Pitt was a rookie upstart last year with big wins including best drama series, best actor for Noah Wyle and best supporting actress for Katherine LaNasa. Already a beloved veteran show, it o...
The Pitt led all nominees with 25 in a dominant second season, while Hacks led all comedies with 24 for its final season as the Emmy nominations were announced on Wednesday. HBO Max’s emergency room series The Pitt was a rookie upstart last year with big wins including best drama series, best actor for Noah Wyle and best supporting actress for Katherine LaNasa. Already a beloved veteran show, it owned this year’s acting categories. Wyle was nominated again, as was LaNasa. Taylor Dearden, Fiona...
Twelve South’s AirFly Pro is just $5 more than the SE model. | Image: Twelve South If you’ve got a summer trip coming up, the last-gen Twelve South AirFly Pro is one of those gadgets that can make a long flight feel a little shorter. It lets you use your wireless headphones with in-flight entertainment systems, and right now it’s on sale for $39.99 ($15 off) at Amazon . That’s the best price we’ve...
Twelve South’s AirFly Pro is just $5 more than the SE model. | Image: Twelve South If you’ve got a summer trip coming up, the last-gen Twelve South AirFly Pro is one of those gadgets that can make a long flight feel a little shorter. It lets you use your wireless headphones with in-flight entertainment systems, and right now it’s on sale for $39.99 ($15 off) at Amazon . That’s the best price we’ve seen all year and just $7 shy of the all-time low we last saw in January 2025. Twelve South AirFly Pro Where to Buy: $54.99 $39.99 at Amazon For just $5 more than the AirFly SE , the Pro adds a handful of useful extras, one of which is support for both Bluetooth transmitter and receiver modes. That means you can use your wireless headphones with an airplane’s entertainment system during a flight, then stream music from your phone to compatible wired speakers and sound systems once you’ve landed. Unlike the SE, it also supports two pairs of Bluetooth headphones at once, so you can share a movie or podcast with a travel companion. Plus, its 25 hour battery life should be enough to last through even the longest international flights. The AirFly Pro is useful in other ways, too. During your vacation, you can use it to connect your preferred music streaming service to an older rental car stereo, or your ear buds to a Nintendo Switch. Once you’re back home, it can also connect your wireless headphones to compatible gym equipment and other devices with a standard 3.5mm audio jack.
(RTTNews) - The Treasury Department continued this week's series of announcements of the results of its long-term securities auctions on Wednesday, revealing this month's sale of $39 billion worth of ten-year notes attracted above average demand.
(RTTNews) - The Treasury Department continued this week's series of announcements of the results of its long-term securities auctions on Wednesday, revealing this month's sale of $39 billion worth of ten-year notes attracted above average demand.
Shares in FTAI Aviation (NASDAQ: FTAI) rose by 37.4% in the first half of 2026, according to the data from S&P Global Market Intelligence . It's an excellent performance, but it was anything but linear. Instead, FTAI has had a volatile year, with many of the year's topical issues: AI-linked investment, the conflict in Iran, and energy prices. Given that these factors remain highly dynamic, volatil...
Shares in FTAI Aviation (NASDAQ: FTAI) rose by 37.4% in the first half of 2026, according to the data from S&P Global Market Intelligence . It's an excellent performance, but it was anything but linear. Instead, FTAI has had a volatile year, with many of the year's topical issues: AI-linked investment, the conflict in Iran, and energy prices. Given that these factors remain highly dynamic, volatility is likely to continue. The company operates three businesses that are highly related but distinct. The core business is providing engine maintenance for airlines and airplane owners. The second is aviation leasing, where it takes assets (airplanes) on its books, raises third-party capital, and then owns and leases the airplanes to airlines, while ensuring the engines are maintained. The third, nascent, business is FTAI Power, which was launched at the end of 2025, and converts CFM56 engines (which power the legacy Airbus A320 family of planes as well as the legacy Boeing 737) into power turbines to provide energy to data centers globally. All three were impacted by events in 2026. Continue reading
Crude oil prices jumped and stock prices fell after President Trump declared an end to the cease fire with Iran, adding fresh uncertainty to an already shaky outlook for the global economy. (Image credit: Michael M. Santiago)
Crude oil prices jumped and stock prices fell after President Trump declared an end to the cease fire with Iran, adding fresh uncertainty to an already shaky outlook for the global economy. (Image credit: Michael M. Santiago)
The best defense is a good offense. That old sports adage seems to capture what Meta Platforms CEO Mark Zuckerberg hopes to accomplish by standing up a cloud business. Shares of the Facebook and Instagram parent company soared nearly 9% last Wednesday, the day the company confirmed to Jim Cramer that a long-talked-about cloud service was in the works. According to Bloomberg, which was first to rep...
The best defense is a good offense. That old sports adage seems to capture what Meta Platforms CEO Mark Zuckerberg hopes to accomplish by standing up a cloud business. Shares of the Facebook and Instagram parent company soared nearly 9% last Wednesday, the day the company confirmed to Jim Cramer that a long-talked-about cloud service was in the works. According to Bloomberg, which was first to report the news, Meta is debating whether to offer access to AI models hosted on its infrastructure or to sell access to raw computing power. A week later, there are few details on exactly what Meta is planning, and the stock is a few dollars per share lower than where it closed the day the news came out. The bull case for a Meta cloud business is that by going on the offensive and creating a new revenue stream, it also provides the defense needed to hedge against overbuilding on AI infrastructure. Those spending concerns were evident on the evening of April 29 when Meta's outstanding fiscal 2026 first quarter was met with heavy selling. The Street graded Meta's capital expenditure intentions more harshly relative to its hyperscaler peers ( Amazon , Microsoft , and Alphabet ), as monetization of that spend would depend almost entirely on internal demand for compute. The three biggest public clouds use only the compute they need and rent out any excess capacity. The bear case questions whether a Meta cloud signals excess compute because the company overshot what it needs. Let's explore each argument and where we come down. The bear case The bear case centers on whether Meta will see enough of a return on invested capital (ROIC) for its massive amounts of AI spending it has already made and the plan for between $125 billion and $145 billion of capital expenditures in fiscal 2026. That's a capex increase from the prior range of between $115 billion and $135 billion, and above the $122.64 billion expected, even on the low end, according to FactSet. Laura Martin, the longtime Needh...
zhaojiankang/iStock via Getty Images 60% Up, And Plenty More To Come Still Upstream has proven to be a great area to invest in this year as the margin spread has exploded for companies like Par Pacific Holdings ( PARR ). I’ve been invested since January this year, and I’ve now banked a 60% return while the SPY has only moved 7.73% higher. First Coverage (Seeking Alpha) The company is gaining tract...
zhaojiankang/iStock via Getty Images 60% Up, And Plenty More To Come Still Upstream has proven to be a great area to invest in this year as the margin spread has exploded for companies like Par Pacific Holdings ( PARR ). I’ve been invested since January this year, and I’ve now banked a 60% return while the SPY has only moved 7.73% higher. First Coverage (Seeking Alpha) The company is gaining traction, and for good reason; it’s a great energy play right now. Performance across the business is solid, and I expect higher volumes in the next three quarters with a record $700 million in EBIT for the year if the product spreads keep trending higher, or even just consolidate where they are now. This means PARR will remain a Strong Buy for me. Expectations Are Sky-High, But It Can Go Higher Earnings Report (Seeking Alpha) We’re a little less than a month now off until the next earnings report, but the sentiment is clear. PARR should post a massive QoQ increase in EPS. Much of this year's profits will and should be reported in the next two quarters, with full-year estimates sitting at $14.58. That still seems a little low to me if we look at the current market trajectory. Shares are now also trading lower than when the Q1 report came out, which seems like a disconnect from what actually happened and an unjustified punishment. The EPS missed, as seen in the image above, but that ignores the top line. It might’ve just beat it by 4%, but to me the story is about the record refining throughput of 184,000 bpd. That was a solid 4.7% increase YoY in volumes. That’s not something you ignore. Instead of WCS being cheaper as a feedstock, the actual end price is rising, which is widening the crack spread (PARR sells based on WTI, not WCS). I covered this market aspect last time, and it seems that the bullish outlook I had then was the right call. The 3-2-1 crack spread sits at $53 per barrel. This is nearing the highs we saw in June 2022. EPS Beat (Seeking Alpha) Going back to that qua...
FCA clashes with consumer group pushing for bigger compensation, alleging lack of transparency and conflict of interest The City regulator is trying to get the only consumer group arguing for higher motor finance scandal payouts thrown out of court, alleging that its co-founders have not been transparent about their funding and potential conflicts of interest. The accusations, laid out in legal fi...
FCA clashes with consumer group pushing for bigger compensation, alleging lack of transparency and conflict of interest The City regulator is trying to get the only consumer group arguing for higher motor finance scandal payouts thrown out of court, alleging that its co-founders have not been transparent about their funding and potential conflicts of interest. The accusations, laid out in legal filings on Wednesday, are the latest controversy in the long-running saga surrounding mis-sold car loans, with fears of large payouts having resulted in heavy lobbying by banks and a controversial intervention by the chancellor, Rachel Reeves. Continue reading...