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OIL PRICES SURGE DESPITE OPEC+ SUPPLY BOOST!
OPEC UNLEASHES A MONSTROUS SUPPLY HIKE!
Just when you thought it couldn’t get any crazier, OPEC+ shakes the energy world! Over the weekend, they cranked up the supply by a staggering 411,000 barrels per day—taking us back to the kind of supply madness we experienced in May and June. By the end of July, they’ll have sneakily tossed more than 60% of their planned supply increases back into the ring!
IS A SUPPLY TSUNAMI HEADING OUR WAY?
Experts are buzzing that OPEC+ might just keep going with these massive hikes! If they do, we’re looking at a jaw-dropping 2.2 million barrels per day back on the market before summer’s end—12 months ahead of schedule! Buckle up; that’s the fuel behind our predictions of oil prices averaging a jaw-dropping $59 per barrel this fall.
RUSSIA-UKRAINE TENSION BOOSTS MARKET UPHEAVAL!
Just when you thought the energy crisis couldn’t get wilder, tensions between Russia and Ukraine are blowing the roof off the oil market this morning! Ukraine unleashed a swarm of drone mayhem on Russian airfields, just in time for impending peace talks. Meanwhile, some US senators are itching to slap 500% tariffs on countries dealing in Russian oil! The stakes are sky-high, with President Trump grinding his teeth at Putin, but no new sanctions yet!
US OIL DRILLING COLLAPSES AS PRICES PLUMMET!
In the midst of all this chaos, US drilling activity is plummeting! The latest from Baker Hughes reveals the US oil rig count is down by 4, marking a worrying fifth week of declines. With oil prices projected to spiral even lower, expect more drilling to hit the brakes, raising serious questions about US oil supply growth for next year!
SPECULATORS IN A FRENZY!
The latest positioning reveal that speculators are caught in a wild tug-of-war! They’ve pulled back from ICE Brent, reducing their net positions by 4,379 lots. Meanwhile, traders are split, increasing their gross long positions but also piling on the gross short positions! What’s it gonna be, folks?!
TARIFFS ON STEEL & ALUMINUM TO SKYROCKET! TRUMP STRIKES BACK!
Hold onto your hardhats! Trump just announced he’s going to DOUBLE tariffs on steel and aluminum, jacking them up to a whopping 50% starting June 4! While he was neck-deep in a US Steel plant, he set the stage for a major shake-up in domestic production—intensifying the spotlight on Canadian imports that account for 58% of US aluminum needs!
CAN THE US STEEL INDUSTRY MAKE A COMEBACK?
Trump’s mission? Bring jobs back to America and get the steel industry roaring again! But here’s the catch: since Trump’s first round of tariffs, US steel output has slumped 1% and aluminum by a staggering 10%! Meanwhile, Canada is laughing all the way to the bank with its cheap hydropower fueling its smelters!
NEW ALUMINUM SMELTER COMING TO AMERICA!
In an eye-popping twist, Emirates Global Aluminium is set to build a brand new smelter in the US—the first in over 40 years—that will nearly double US primary aluminum output! Construction kicks off late 2026, with the first metal to roll out by 2030! Talk about a game-changer!
UKRAINE ON THE BRINK OF DEVASTATION AS GRAIN PLANTING SEASON ENDS!
From the frontline of agriculture, Ukraine’s grain struggles continue! As the spring planting season comes to a screeching halt, only 5.5 million hectares have been planted, holding steady but barely making the mark! In stark contrast, France reports that 70% of its soft wheat crop is thriving, but the clock is ticking as corn plantings rush towards completion!
The world awaits! Will the agricultural heart of Ukraine rise from the ashes? Stay tuned!
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