OilPrice.com (August 2)
“When Iran shut down the Strait of Hormuz, Saudi Arabia quickly redirected its oil flows to the Red Sea. Now, that route has become dangerous because of the Houthi blockade, so Saudi is rerouting to Egypt” where two LNG tankers “just got struck by drones. OPEC’s number-one is running out of options to reroute its oil exports.”
Tags: Dangerous, Drones, Egypt, Houthi blockade, Iran, LNG tankers, Oil exports, OPEC, Options, Red Sea, Redirected, Reroute, Route, Saudi Arabia, Shut down, Strait of Hormuz
The Economist (July 31)
“Despite robust spending, America’s economy grew slower than expected in the second quarter, expanding by an annualised 1.5%. Consumer activity grew by 3.2% thanks to a fall in gasoline prices and higher-than-usual tax refunds. AI-driven investment continued to boom. These bright spots were, however, offset by a decline in net exports and companies drawing down their inventories.”
Tags: 1.5%, AI-driven investment, Boom, Consumer activity, Decline, Economy, Expanding, Gasoline prices, Inventories, Net exports, Q2, Robust spending, Slower, Tax refunds, U.S.
MarketWatch (July 30)
“One of the wildest months in recent memory for the U.S. stock market is ending on yet another remarkable note: A highflying hedge fund run by an AI wunderkind in his mid-20s has apparently just been carried out on a stretcher.” Before offloading “the bulk of its public-equity portfolio after suffering heavy losses over the past month,” Situational Awareness “had posted dazzling returns by using leverage to bet on AI-related stocks, reportedly tallying a more than 2,000% gain since its launch in September 2024.”
Tags: AI, Bet, Dazzling, Gain, Hedge-fund, Leverage, Losses, Market, Offloading, Public-equity portfolio, Remarkable, Returns, Situational Awareness, Stocks, Stretcher, U.S., Wildest, Wunderkind