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02.05.26 - 01:27
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In Charts: Communist Cuba′s Lights Dim Amid US Oil Blockade (ZeroHedge)
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In Charts: Communist Cuba's Lights Dim Amid US Oil Blockade
Authored by Sylvia Xu, Andrew Moran via The Epoch Times (emphasis ours),
Blackouts, shortages, fuel rationing, and empty streets now define daily life in Cuba.
People wait to fill their water containers during a nationwide blackout in Havana on March 22, 2026. Cuban authorities scrambled on March 22 to restore power to the island after the second nationwide blackout in less than a week, as the grid struggles due to an aging infrastructure and a U.S. oil blockade. Yamil Lage/AFP via Getty Images
Although the norm for decades, these hardships have reached catastrophic proportions as the island nation suffers its worst energy and economic crisis since the fall of the Soviet Union.
Cuba's energy infrastructure is collapsing amid restrictions on oil imports from its key ally Venezuela, along with a U.S. military operation that has further disrupted Venezuela's production and shipping.
With the country's main supplier impaired, Havana i...
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01.05.26 - 22:18
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Stocks Hit Record as Oil Falls on US-Iran Hopes (Bloomberg)
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A record-breaking run drove stocks toward their longest weekly rally since 2024 amid hopes for a deal to end the Iran war that has rattled financial markets and jeopardized the economic outlook. Jaya Thibard Wajja, head of FX strategy at TD Securities, and Bloomberg's Jeff Mason join Bloomberg Businessweek Daily to discuss. (Source: Bloomberg)...
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01.05.26 - 22:01
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OPEC Just Signaled A Historic Gold Tailwind (ZeroHedge)
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OPEC Just Signaled A Historic Gold Tailwind
Authored by Matthew Piepenburg via VonGreyerz.gold,
The United Arab Emirates' headline departure from OPEC this week has now made the case for precious metals almost too obvious. In fact, the critical USD-Petrodollar-Gold triangle just sent us one of the most important gold signals in over 50 years.
And for anyone paying attention, this should come as no surprise.
Warnings from 2022
From day one of the 2022 U.S. sanctions against Russia, we argued in “How the West was Lost” that this event marked the greatest macro-economic watershed to hit the world since Nixon decoupled the dollar from gold in 1971.
As of this week, the ripple effects of that warning just grew to wave height.
Back in 2022, we warned that trust in a now weaponized world reserve currency would fall, creating a scenario in which the BRICs+ nations would slowly de-dollarize, thereby weakening the hegemony of the USD in general and the USA in particular.
In the years that imm...
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01.05.26 - 19:18
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Chevron, ConocoPhillips Warn About "Critical Shortages" Of Oil, Soaring Prices And Demand Destruction (ZeroHedge)
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Chevron, ConocoPhillips Warn About "Critical Shortages" Of Oil, Soaring Prices And Demand Destruction
This morning, most of the world's energy giants including Exxon and Chevron, reported stellar earnings as surging oil prices more than offset curtailed output. They also issued several loud warnings about the ongoing Hormuz blockage which is no closer to resolution.
ConocoPhillips was first, warning of imminent “critical shortages” of oil for some nations as the Iran war that has crippled global energy flows enters its third month.
The supply crunch that already pushed Brent prices up more than 50% in just nine weeks and just 2 days ago hit a multi-year high, appears likely to significantly worsen as soon as June, Chief Financial Officer Andy O'Brien told analysts during a conference call Thursday.
“The biggest challenge we're about to face is that the markets sort of had a bit of a grace period initially when the tankers that left the Persian Gulf in late February were ...
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01.05.26 - 18:54
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Exxon and Chevron quarterly earnings fall despite soaring oil prices (The Guardian)
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US oil giants report big drops in profits due to Iran war disruptions but are expected to eventually reap benefitsExxon Mobil and Chevron reported drops in profit in their first quarter despite surging oil prices, a result of stalled deliveries and supply disruptions in the Middle East.Exxon's quarterly earnings fell to $4.2bn from about $7.7bn the same quarter last year, a decline of about 46%, while Chevron's profits fell to $2.2bn from about $3.5bn, down about 37%. Still, both companies beat Wall Street expectations. Continue reading......
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