Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Generated 10% FFO growth, meeting long-term targets through organic inflation-linked rate increases and the commissioning of new capital projects.
Data segment performance surged 36%, driven by the acquisition of a U.S. bulk fiber network and initial contributions from the Intel semiconductor foundry partnership.
Midstream results benefited from strong ***** et utilization and elevated commodity pricing in the Canadian diversified midstream business, alongside new U.S. pipeline contributions.
Transport segment growth was supported by a 'domino effect' from global AI infrastructure build-outs, driving increased demand for machinery and components through rail and port networks.

#contributions #NVIDIA #generated

October lean hog (HEV26) futures present a selling opportunity on more price weakness.
See on the daily bar chart for October lean hog futures that Wednesday's selloff put a price uptrend in serious jeopardy. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator has just produced a bearish line crossover signal, whereby the blue MACD line crossed below the red trigger line. Seasonality studies also are now favoring the hog market bears.
Coffee Prices Retreat as Brazilian Real Weakness Spurs Long Liquidation
Cocoa Prices Settle Mixed on Consolidation Above Recent Lows
Is Farm Land a Commodity or Family Heirloom?

#october #macd #price

Given the huge rally in S&P 500 stocks like Sandisk (SNDK) this year, it's no surprise semiconductor ETFs are thriving. But they're getting competition from oil ETFs.
Four of the top 10 actively traded nonleveraged ETFs this year are oil and energy related, says Morningstar Direct. That's exactly the same number of semiconductor ETFs that make the cut. In fact, $2-billion-in-assets United States Oil (USO) returned 74% this year, outperforming the 64% return of the top semiconductor ETF, First Trust Nasdaq Semiconductor (FTXL).
And shares of Marathon Petroleum (MPC) are up 90% this year. That outstrips the 2% gain by AI semiconductor juggernaut Nvidia (NVDA).
Unique trends are driving oil and semiconductor ETFs this year. And oil has gotten the upper hand in the past month.
"Oil's recent run is due to geopolitical risk premiums from Iran tensions and tech valuation digestion. Escalating war risks in the Middle East create immediate supply-shock fears, pushing oil commodity ETFs higher," said Todd Rosenbluth of TMX VettaFi. "Concurrently, heightened uncertainty triggers profit-taking in high-valuation growth ***** ets like chips, prompting a short-term rotation into traditional commodities."

#year #sandisk

Wall Street brokerage Bernstein has lowered its price target on the stock of stablecoin issuer Circle Internet Group (NYSE: $CRCL).
In a note to clients, Bernstein lowered its price target on CRCL stock to $140 U.S. from $190 U.S. while keeping a Buy-equivalent outperform rating on the shares.
Crypto ****** yst Gautam Chhugani writes that the Open USD consortium that pressured the stock is a lesser threat than the market realizes.
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TokenInsight Q2 2026 Report: TradFi Momentum Lifts MEXC to No. 2 in Commodity Perpetuals

#bernstein #crcl

Cryptocurrency exchange Binance is now offering gold (TVC: $GOLD) and silver (TVC: $SILVER) options trading on its platform.
Privately held Binance, which is the world's biggest crypto exchange by volume, has launched options trading for the leading precious metals.
In a news release, Binance said it decided to offer gold and silver options trading after seeing strong demand for perpetual futures related to the metals.
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TokenInsight Q2 2026 Report: TradFi Momentum Lifts MEXC to No. 2 in Commodity Perpetuals

#metals #privately

Commodity producing and trading giant Glencore expects to post a profit of $3.3 billion in its marketing division for the first half of the year, as extreme market volatility during the Iran war generated windfall earnings for the energy commodity traders.
Glencore expects to report next week a strong half-year marketing adjusted earnings before interest and tax (EBIT) of about $3.3 billion in its Marketing segment, which includes oil trading, the company said on Wednesday in its half-year production report.
The trading giant didn't specify how much energy trading contributed to the profit, but it's expected to do so in the detailed half-year earnings due out next week.
At any rate, the market volatility of the past five months is putting Glencore's trading profit on track for its best year ever if energy markets continue to whipsaw in the coming months.
Glencore book its highest ever full-year EBIT in marketing for 2022, the year in which the Russian invasion of Ukraine upended energy flows and markets and sent oil prices soaring to $120 per barrel.

#trading #profit #earnings #commodity

Grayscale Research says Hyperliquid's HYPE (CRYPTO: $HYPE) token remains inexpensive beside fintech and crypto stocks, even as shares of its largest public-market treasury vehicle trade lower.
The ****** et manager valued Hyperliquid using "earnings per token," applying an equity-style framework to the protocol's fee generation and token supply. Grayscale expects Hyperliquid to produce roughly $1 billion in earnings in 2027, about 20% above 2025 levels, supported by recovering crypto trading volumes and a new stablecoin revenue stream.
With approximately 270 million HYPE circulating, Grayscale expects supply to reach between 270 million and 310 million tokens by the end of 2027. That would place projected earnings per token between $3.25 and $3.75.
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TokenInsight Q2 2026 Report: TradFi Momentum Lifts MEXC to No. 2 in Commodity Perpetuals

#hype #Crypto #supply

China has started producing domestic immersion deep-ultraviolet lithography tools, Reuters reported on July 28. State-backed Shanghai Aishengna Electronic Technology Group plans to deliver machines to Semiconductor Manufacturing International, Hua Hong Semiconductor and memory producer ChangXin Memory Technologies. Production is expected to remain small, at roughly five systems in 2026 and about 20 in 2027.
The news struck ASML Holding N.V. (NASDAQ:ASML) through direct product substitution. Export controls already block the company from selling its most advanced extreme-ultraviolet systems into China, leaving DUV scanners as the main lithography category available there. ASML said China generated 29%, or about €9.5 billion, of 2025 net sales; Reuters Breakingviews noted that this revenue was ***** ociated with DUV machines and services. A domestic machine that passes production qualification could replace specific future ASML scanner orders and reduce Chinese fabs' dependence on ASML service, even if those fabs still prefer its performance.
"Viable" remains the unresolved word. Reuters reported that the Chinese systems still trail ASML in performance and reliability and require further testing. Chipmakers require overlay accuracy, yield, throughput and uptime in sustained high-volume production. Planned output is also modest beside ASML's installed base. The development raises a strategic risk to future China sales, but it does not show that ASML's tools have been replaced.
Micron Technology, Inc. (NASDAQ:MU) is connected through a named competitor and a manufacturing bottleneck. CXMT, one of the intended tool recipients, competes in DRAM. If locally serviceable immersion DUV equipment eventually lets CXMT qualify and add reliable commodity-memory output despite tighter foreign-tool restrictions, the additional bits could pressure industry pricing and Micron's margins. That is a supply-curve risk, not evidence that the new tools can already produce competitive high-bandwidth memory for leading AI accelerators.
Micron's current results push against the most bearish interpretation. For its fiscal third quarter ended May 28, the company reported $41.46 billion of revenue and said data center revenue exceeded $25 billion. Management also said DRAM and NAND demand continued to exceed industry supply. China's DUV progress can influence the future supply curve without invalidating those current conditions.

#production #systems #revenue

Eni raised its 2026 oil and gas production outlook and expanded its share buyback program after reporting significantly stronger second-quarter results, supported by double-digit production growth, higher commodity prices and improved performance across several business segments.
The Italian energy company now expects underlying full-year hydrocarbon production growth of around 5%, up from its previous guidance of 3% to 4%, following 11% year-over-year underlying production growth in the second quarter to 1.79 million barrels of oil equivalent per day, excluding price effects.
The improved outlook prompted Eni to increase its planned 2026 share repurchase program to €3.4 billion, up from the previously revised €2.8 billion, while reaffirming its planned dividend of €1.10 per share. The company also said an extraordinary dividend could be considered later this year if refining margins remain well above budget ****** umptions.
Second-quarter adjusted EBIT more than doubled year over year to €5.38 billion, while adjusted net profit rose to €2.3 billion. The upstream business generated €4.77 billion in adjusted EBIT, benefiting from higher production, favorable oil realizations and continued cost discipline. Cash flow before working capital reached €4.47 billion, comfortably covering €1.84 billion in capital spending and €1.35 billion returned to shareholders through dividends and buybacks during the quarter.
Strategically, Eni continued expanding its upstream portfolio and transition businesses. During the quarter it established the Searah joint venture with Petronas, creating a regional platform spanning Indonesia and Malaysia that will develop major gas discoveries in the Kutei Basin. The company also approved final investment decisions for the Baleine Phase 3 development offshore Côte d'Ivoire, the Greater PAJ project offshore Angola, and the Cronos gas project offshore Cyprus.

#production #second

Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Performance was driven by a rapid transition to value-based pricing and global energy surcharges, which offset rising commodity costs within a single quarter.
The Global High-Tech platform has emerged as the primary growth engine, scaling from $150 million in 2021 to an annualized run rate of $1.5 billion following the CoolIT acquisition.
Life Sciences performance reached a strategic inflection point with 15% growth, driven by market share gains in bioprocessing and the scaling of commercial manufacturing for customers.
The 'One Ecolab' initiative is successfully driving mid-single-digit growth in core businesses like Food & Beverage through integrated water and food safety cross-selling.

#performance #global #driven #NVIDIA

The attraction to make short-term market bets is real. When you think what everyone knows is wrong, it's tempting to place a bet. And while Kalshi and Polymarket may be better venues for "someone is wrong on the internet" proof-trading, ETFs offer clean, efficient ways to lose your money too.
Or maybe -- maybe -- make some.
On a recent episode of ETF Zoo, Bloomberg's Eric Balchunas made the point that some speculators lately had been getting these market-timing calls right. He later ran the numbers on ProShares UltraPro QQQ, the 3x leveraged Nasdaq-100 ETF.
This toe-dip into matching flows with performance got me thinking about "the other big trade" of the last year or so that's not AI: Energy. That's where all the headlines about insider trading have been, so taking the cue from Eric, I had to figure out: have ETF investors been playing the energy trade this well?
Betting on energy is the least secret, least insider trade in the world right now—unless you have access to the Oval, like some traders apparently do. There should be no edge in it. Short-term trading here is simply a bet that you know something the most important commodity market in the world doesn't know (or, you have better hunch.) Historically, this is a bad idea. That was my prior: disaster.

#market #short #make

O'Keeffe Stevens Advisory, an investment advisory firm, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. During Q2 2026, the market experienced notable dispersion between perceived AI losers and winners. The firm has made investments early in AI infrastructure companies, which yielded gains during market repricing. The second quarter experienced strong equity rallies, with the S&P 500 gaining 15.2% and the Nasdaq 21.4%, marking the best quarter since Q2 2020. While the software sector faced challenges, with the iShares Software ETF dropping ~27% before a rally, reflecting high volatility. This volatility is seen as an opportunity, despite the potential for 'dead money' in underperforming stocks. The firm remains cautious, focuses on owning durable businesses at reasonable prices, holding cash, and hedging risks to navigate unpredictability. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, O'Keeffe Stevens Advisory highlighted Warrior Met Coal, Inc. (NYSE:HCC). Warrior Met Coal, Inc. (NYSE:HCC) is a non-thermal metallurgical coal producer. On July 27, 2026, Warrior Met Coal, Inc. (NYSE:HCC) stock closed at $80.66 per share. One-month return of Warrior Met Coal, Inc. (NYSE:HCC) was -0.62%, and its shares gained 52.30% over the past 52 weeks. Warrior Met Coal, Inc. (NYSE:HCC) has a market capitalization of $4.26 billion.
O'Keeffe Stevens Advisory stated the following regarding Warrior Met Coal, Inc. (NYSE:HCC) in its Q2 2026 investor update:
"Warrior Met Coal, Inc. (NYSE:HCC): Unsurprisingly, a commodity-producing company's stock experienced Signiant volatility during the quarter. Had the quarter ended one month prior, it's possible we would have been talking about Warrior as a top performer during the quarter. On May 23, 2026, a gas explosion at a coal mine in Shanxi province killed 82 workers, making it China's deadliest coal mining accident since at least 2009. The blast occurred at the privately owned Liushenyu mine in the coal-belt region of Shanxi, and a deadly gas explosion occurred at the Liushenyu Coal Mine in Qinyuan county with 247 workers underground; all four coal mines under Tongzhou Group suspended operations following the incident, driving met coal prices higher. Blue Creek remains the next leg of the story. Increasing production and sales volume at this mine should drive revenue and EPS growth, even in the face of an overall weaker met coal pricing environment."

#coal #stevens #firm

Carillon Tower Advisers, an investment management company, released its second-quarter 2026 investor letter for the "Carillon Eagle Growth & Income Fund". A copy of the letter is available to download here. The second quarter of 2026 was driven by a sharp rally in AI-related stocks, although gains were concentrated in highly cyclical semiconductor, memory and optical companies. The S&P 500 gained 15.2%, while the semiconductor index surged 87.8%. Unlike earlier AI rallies led by megacaps and strong earnings growth, some smaller technology stocks rose 200% to 300%, making the advance more fragile. Software and services stocks declined as investors questioned the impact of AI disruption. Oil prices also rose during the Iran conflict before retreating, briefly increasing inflation and interest-rate concerns. Despite the volatility, economic data and corporate earnings remained strong. S&P 500 earnings are projected to rise 25% in 2026 and 15% in 2027, with the market trading near 20x earnings. The Fund continues to focus on financially strong companies with durable earnings growth that can perform across different economic conditions. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Carillon Eagle Growth & Income Fund highlighted Chevron Corporation (NYSE:CVX). Chevron Corporation (NYSE:CVX) engages in the integrated energy and chemicals operations. On July 27, 2026, Chevron Corporation (NYSE:CVX) closed at $190.00 per share. One-month return of Chevron Corporation (NYSE:CVX) was 14.62% and its shares gained 21.00% over the past 52 weeks. Chevron Corporation (NYSE:CVX) has a market capitalization of $378.4 billion with a 52-week range between $146.49 - $214.71.
Carillon Eagle Growth & Income Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its Q2 2026 investor letter:
"Chevron Corporation's (NYSE:CVX) weak share price performance in the second quarter, following very strong performance in the first quarter, closely aligns with crude oil prices throughout 2026. Crude prices mirror news flows out of the Middle East with particular attention to transit levels through the Strait of Hormuz. This will continue for the duration of the conflict. However, Chevron is well placed to benefit from generally high commodity price levels, a high-quality ***** et base, and continued discipline around cash flow generation and capital deployment."
Chevron Corporation (NYSE:CVX) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 103 hedge fund portfolios held Chevron Corporation (NYSE:CVX) at the end of the first quarter which was 86 in the previous quarter. While we acknowledge the potential of Chevron Corporation (NYSE:CVX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantl

Commodity producing and trading giant Glencore expects to post a profit of $3.3 billion in its marketing division for the first half of the year, as extreme market volatility during the Iran war generated windfall earnings for the energy commodity traders.
Glencore expects to report next week a strong half-year marketing adjusted earnings before interest and tax (EBIT) of about $3.3 billion in its Marketing segment, which includes oil trading, the company said on Wednesday in its half-year production report.
The trading giant didn't specify how much energy trading contributed to the profit, but it's expected to do so in the detailed half-year earnings due out next week.
At any rate, the market volatility of the past five months is putting Glencore's trading profit on track for its best year ever if energy markets continue to whipsaw in the coming months.
Glencore book its highest ever full-year EBIT in marketing for 2022, the year in which the Russian invasion of Ukraine upended energy flows and markets and sent oil prices soaring to $120 per barrel.

#Marketing #energy #profit

Grayscale Research says Hyperliquid's HYPE (CRYPTO: $HYPE) token remains inexpensive beside fintech and crypto stocks, even as shares of its largest public-market treasury vehicle trade lower.
The ***** et manager valued Hyperliquid using "earnings per token," applying an equity-style framework to the protocol's fee generation and token supply. Grayscale expects Hyperliquid to produce roughly $1 billion in earnings in 2027, about 20% above 2025 levels, supported by recovering crypto trading volumes and a new stablecoin revenue stream.
With approximately 270 million HYPE circulating, Grayscale expects supply to reach between 270 million and 310 million tokens by the end of 2027. That would place projected earnings per token between $3.25 and $3.75.
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TokenInsight Q2 2026 Report: TradFi Momentum Lifts MEXC to No. 2 in Commodity Perpetuals

#grayscale #expects

The wheat complex is falling back with the rest of the commodity complex on Monday. Chicago SRW contracts are 15 to 16 cents in the red. KC HRW futures are trading with 14 cent front month losses on the day. MPLS spring wheat is slipping 7 to 8 ¼ cents at midday.
Monday morning's Export Inspections report showed wheat shipments of 394,785 MT (14.51 mbu) in the week of 7/23. That was up 71.82% from the week prior and 36.01% above the same week last year. Bangladesh was the largest destination of 58,341 MT, with 56,444 MT shipped to ****** an and 54,407 MT to Mexico. The marketing year total is now 2.543 MMT (93.4 mbu) of shipments, which is now 23.21% below the same period last year.
What Do Monday Morning's Markets Bring to Mind?
Everyone Loves November Soybeans Right Now. History Doesn't!
Abundant Supplies Slam Cocoa Prices

#wheat #cents #shipments #last

DUNEDIN, FL — Clay Holmes has been traded once before. He found out when he was going to the New York Yankees in the checkout lane of a Pittsburgh Target. Pirates GM Ben Cherington called him to tell him he had been traded and Holmes was quickly searching the aisles for a razor. He had a plane to catch and a beard to shave.
Now, five years later, he is on the block again. This time, he's a more known and wanted commodity, and because he has been on the injured list he has had 10 weeks to sit with it.
He doesn't love the uncertainty, but he's not dreading anything.
"It was such a good experience the last time, because I just took it for what it was and accepted it," Holmes said Tuesday night. "I am going to try and do that same thing this time. Whatever happens, I just try and come at it with a new perspective, fresh eyes and just enjoy it and just kind of hang on."
Hanging on is harder this week when the ride hasn't even started.

#traded #pittsburgh

Micron Technology, Inc. (NASDAQ:MU) stock gained by more than 3% during Monday's premarket session as risk appetite improves alongside a firm overnight tape. Nasdaq futures are up 1.57% while S&P 500 futures have gained 0.93%.
The broader market rally coincided with a major development in the global memory-chip industry that could reshape long-term competitive dynamics.
ChangXin Memory Technologies (CXMT), China's leading DRAM maker, made a blockbuster stock market debut that underscores Beijing's push to build a domestic memory champion.
While the listing highlights rising competition in commodity memory, ***** ysts believe Micron remains well positioned in the faster-growing AI memory market.
CXMT raised 57.92 billion yuan, or $8.55 billion, after pricing its IPO at 8.66 yuan per share. The stock surged more than 531% to about 54.60 yuan, valuing the DRAM maker at roughly 3.68 trillion yuan and making it China's most valuable listed company.

#memory

Fighting across the oil-producing world is catching up with energy markets, which could soon be choked off by multiple choke points and shortages.
Over the weekend, the U.S. and Iran have paused their attacks on each other in the Persian Gulf while they engage in diplomacy. Iran and Oman are also in separate talks to reopen the Strait of Hormuz.
But the U.S. and Iran's neighbors are unlikely to accept any deal that recognizes Tehran's control over the narrow waterway. Meanwhile, Iran-backed Houthi rebels are threatening ships in the Bab el-Mandeb Strait, which Saudi Arabia has relied on to export its oil and bypass the Strait of Hormuz.
Ships can get around the Bab el-Mandeb Strait by using the Suez Canal to enter or exit the Red Sea, but the canal can't accommodate the largest oil tankers. There's also a risk that Iran could try to strike the Suez Canal, too.
"So we are starting to talk about the kind of 'no way out' scenarios because of this new Red Sea unrest," Helima Croft, head of global commodity strategy at RBC Capital Markets, told CNBC on Thursday.

#ships

Interested in RTX Corporation? Here are five stocks we like better.
RTX and Lockheed Martin both beat Q2 earnings and revenue estimates, sending shares up 7% and 10%, respectively, and expanding their record contract backlogs.
Neither company's backlog yet reflects the resumed Iran conflict, while an unenacted 2027 NDAA could threaten multiyear defense procurement contracts if not signed by October 1.
Lockheed's backlog is nearly all defense-related with limited commodity risk, whereas RTX's backlog is 58% exposed to commercial aerospace risks like fuel prices and airline capacity.
The war trade has resumed in July, and earnings from two of the U.S.'s most prominent defense contractors are leading the tape. After weak Q1 reports and a tenuous Iran ceasefire, aerospace and defense stocks deepened their drawdowns as the market repriced the re-stock trade and institutional selling intensified. But now that the war is back on and Q2 reports from defense companies are rolling in, the repricing is being repriced. Does the defense trade have staying power this time?

#backlog #Iran #stocks

Less than a month ago, **** ysts were warning of a looming glut of crude oil as tanker traffic via the Strait of Hormuz began to recover amid a U.S.-Iran ceasefire. Within days of these warnings, the ceasefire was a painful memory, missiles were flying again, and now Yemen's Houthis are striking tankers in the Red Sea, which makes two blocked oil chokepoints and a very real danger of a global recession.
Brent crude this week topped $100 per barrel on reports that the Houthis had struck two Saudi tankers in the Bab el-Mandeb Strait, which Saudi Arabia is currently using as the primary outlet for its crude amid the Iranian blockade of the Strait of Hormuz. Soon enough it emerged that tankers that were heading to the Red Sea waterway were making U-turns and heading to alternative routes—which take longer and cost more.
Meanwhile, Ukrainian drone strikes on the Caspian Pipeline System's terminus on the Black Sea have forced Kazakhstan to suspend most of its oil exports. The target of the drone attacks was the Novorossiysk port on Russia's Black Sea coast, which also happens to be the point of departure of the bulk of Kazakh oil exports to world markets. Bloomberg reported this week that tanker operators were getting nervous about sending their vessels to the port of Novorossiysk because Ukrainian drones were also striking ships at the port.
The Strait of Hormuz used to see average daily oil volumes of some 20 million barrels daily. This has now slowed to a trickle. The Red Sea chokepoint of Bab el-Mandeb has been handling between 4 and 5 million barrels daily of Saudi oil in recent weeks, according to different estimates. Now, this too appears to be almost completely blocked. Add to this the loss of 1.7 million barrels daily in Kazakh flows to Novorossiysk, and the global oil supply picture takes on a rather grim tint. Additionally, the Ukrainian forces continue to target Russian refineries, which has already led to a temporary ban on diesel exports at a time when global fuel inventories are getting strained by the first-wave effects of the Middle East war.
In fact, the situation with refined petroleum products is a major crisis in its own right. "Unlike crude oil, refined products face far fewer mitigation options. Several Middle Eastern refineries remain affected by the ongoing conflict while Russia's diesel export restrictions continue to constrain global availability," Ole Hansen, Saxo Bank's head of commodity strategy, said in an **** ysis earlier this month. "Refining capacity globally also remains relatively limited, preventing crude supply increases from quickly translating into additional diesel and gasoline production," he added.

#daily #exports

Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Achieved record adjusted EBITDA margins of 61%, driven by a 25% increase in copper production and favorable commodity pricing environments.
Maintained three consecutive quarters of stable operations at QB, demonstrating progress in reducing historical operational constraints and improving ***** et utilization.
Successfully managed net cash unit costs despite energy inflation headwinds, supported by higher production volumes and significant byproduct credits from molybdenum, silver, and zinc.
Advanced the Highland Valley Copper mine life extension to 95% engineering completion, securing its role as a cornerstone ***** et through 2046.

#asset #NVIDIA #achieved #successfully

Commodity traders are having the rug pulled out from under one of their biggest paydays yet as refiners start bypassing oil and traders and buying Venezuelan crude directly, according to Reuters. Refiners and major oil-producing firms are rapidly gaining market share in Venezuelan crude by locking in direct supply contracts with state-run Petróleos de Venezuela, S.A. (PDVSA), bypassing the global middlemen and commodity trading houses such as Trafigura and Vitol that previously dominated the ***** e.
Six months after traders reopened Venezuela's oil market, Phillips 66 (NYSE:PSX) and India's Reliance Industries have already signed direct supply agreements, with Valero (NYSE:VLO) and Thailand's Tipco expected to follow.
Previously, Vitol and Trafigura enjoyed first-mover advantage, managing to become dominant in Venezuelan crude marketing because of their exclusive U.S. government licenses, pre-existing logistical infrastructure and historical ties to PDVSA. Following major political shifts in Venezuela in January, the U.S. administration brokered a deal to manage and sell the country's oil. The U.S. Department of the Treasury issued special, long-term licenses specifically to Vitol and Trafigura until June 2027, effectively giving the traders a temporary monopoly. The pair collectively moved more than 100 million barrels of crude over a six-month period while other global firms remained legally locked out.
Their unmatched logistics also gave them a clear upper hand. After all, global trading houses have the fleet capacity and global reach to quickly deploy tankers and reroute large volumes of crude. They could absorb massive storage and shipping costs in a difficult market, using floating storage facilities in places like Malaysia to break up bulk shipments. When the ongoing war in Iran disrupted Middle Eastern supply chains, Vitol and Trafigura quickly diverted heavy Venezuelan grades like Merey 16 to major Asian refining hubs in India, South Korea, and Malaysia at narrower discounts.
Related: Equinor CEO: Europe May Miss Winter Gas Storage Goal

#venezuelan #crude #storage

Irving, Texas-based Vistra Corp. (VST) operates as an integrated retail electricity and power generation company. With a market cap of $54.7 billion, the companyis also involved in wholesale energy purchases and sales, commodity risk management, fuel production, and fuel logistics management activities. The leading integrated retail electricity and power generation company is expected to announce its fiscal second-quarter earnings for 2026 before the market opens on Friday, Aug. 7.
Ahead of the event, ***** ysts expect VST to report a profit of $2.43 per share on a diluted basis, up 140.6% from $1.01 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
Crude Oil Prices Rally on Global Supply Risks
Nat-Gas Prices Fluctuate on Tropical Storm Risk
Fervo Energy Just Scored a New 'Buy' Rating. Here's Why.

#generation

The benchmark diesel price used as the basis for most fuel surcharges rose this week by the second-largest amount since the start of the Iran war.
The Department of Energy/Energy Information Administration average retail diesel price climbed 33.8 cents/gallon to $5.134/g, published Tuesday but effective Monday.
The size of the increase is the second largest since the benchmark price rose 96.2 cts/g on March 9, the first time the DOE/EIA price measured a full week of market movement following the launch of military action against Iran by the U.S. and Israel on February 28/March 1.
With the benchmark price having moved up sharply two weeks in a row, it is now 55.6 cts/g more than where it stood just three weeks ago.
Retail prices, as they generally do, are reacting after the fact to increases in the price of ultra low sulfur diesel (ULSD) on the CME commodity exchange.

#price #march

The CLARITY Act would cement XRP's commodity status into permanent federal law, replacing a reversible SEC/CFTC interpretation that institutional investors cannot rely on.
Republicans hold 53 Senate seats but need 7 to 9 Democratic votes to reach 60, with only about 2 currently secured.
Missing the August 7 recess deadline could push crypto legislation to 2030, with Polymarket currently pricing 2026 passage odds at 43%.
Don't wait: the **** yst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.
XRP holders get a two-day countdown this week. Senator Elizabeth Warren has asked President Trump to voluntarily disclose his personal crypto earnings from January 1 through July 15, 2026, with a deadline of July 23, 2026. Whatever the White House does or does not do by Thursday will land squarely on top of the fight over the CLARITY Act, the crypto bill Senate leaders have been trying to move for months. For XRP price watchers, the disclosure request is the pressure point that could decide whether the biggest piece of crypto legislation in years clears the chamber or slides into next year.

#republicans

Perhaps those worried about the sell-offs in momentum memory chip stocks such as Micron (MU) and Sandisk (SNDK) should read the second quarter earnings release from auto giant General Motors (GM).
Because it sure looks like the memory chip supply shortage driving up prices is alive and well, despite market fears of a slowdown.
Quick insight: GM posted better-than-expected second quarter earnings on Tuesday before the opening bell on Wall Street. For the second time this year, GM lifted its full-year profit forecast despite higher memory chip costs and tariff impacts.
But GM's guidance for $1.5 billion to $2 billion commodity inflation and higher DRAM (aka memory chips) costs was initially lost in the headlines. This range from three months ago was reiterated, but it remains higher than the $1 billion to $1.5 billion guidance coming into 2026.
What's behind the move: The memory chip market is tightening as demand for high-bandwidth memory (HBM) and advanced DRAM used in AI servers continues to outpace supply.

#memory #second #quarter

L1 Capital, an investment management firm, released its "L1 Capital International Fund" (unhedged) second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter discusses the current investment environment as a 'two-speed' but resilient global economy, accompanied by an uncertain future. The letter explores the potential of an AI bubble, distinguishing between strong fundamentals and speculative momentum. Additionally, the market displays a 'narrow' character, marked by high exuberance and ****** ounced over-pessimism. Against this backdrop, the Fund returned +2.6% (net of fees) during the June 2026 quarter, compared to the benchmark return of +12.5% (all in A$). The underperformance was driven more by which investments were not held in the Fund. The Fund remains focused on quality, valuation and the avoidance of permanent capital loss, and believes the portfolio is positioned to deliver attractive risk-adjusted returns for patient investors. In addition, you can check the Fund's top five holdings to know its best picks in 2026.
According to L1 Capital International Fund's Q2 2026 investor letter, Intercontinental Exchange, Inc. (NYSE:ICE), a US-based financial services company that provides technology, data, and market infrastructure to financial institutions, corporations, and government entities, detracted from the performance. On July 17, 2026, Intercontinental Exchange, Inc. (NYSE:ICE) closed at $139.65 per share, reflecting a market capitalization of $78.97 billion. Intercontinental Exchange, Inc. (NYSE:ICE) posted a one-month return of 6.33%, and its shares lost 22.76% over the past 52 weeks.
L1 Capital International Fund stated the following regarding Intercontinental Exchange, Inc. (NYSE:ICE) in its Q2 2026 investor update:
"Intercontinental Exchange, Inc. (NYSE:ICE) is an example of a high quality business that is not particularly AI-sensitive (positively or negatively) that we ****** s to be trading at a compelling valuation. ICE is trading on a forward price to earnings ratio of around 17x, a level we have not seen since the GFC.
ICE has been a long-term holding of the Fund, and we have discussed the investment on many prior occasions. In our view, not much has changed. There are some market concerns around the impact AI may have on the number of people using ICE's proprietary data and ****** ytics. We think this is a peripheral issue and unlikely to materially impact ICE. The larger market concern is that the Commodity Futures Trading Commission (CFTC), which regulates many of ICE's markets, may authorise 'perpetual' derivatives and encourage competition in products such as crypto that could compete with established regulated exchanges.

#market

The Bank of England is planning to loosen capital requirements for major UK lenders to inject additional liquidity, help banks sustain lending, and support financial markets during periods of stress, while bringing UK requirements more closely into line with international standards. These proposals come as regulators face growing pressure to do more to stimulate economic growth. However, the move also raises concerns about credit quality and financial stability, as relaxed requirements could encourage banks to lend to weaker borrowers and contribute to higher leverage and risk-taking in financial markets.
Capital requirements determine how much capital banks must hold against their **** ets to absorb potential losses and maintain resilience during periods of stress. Easing these requirements allows banks to deploy more capital towards lending, supporting credit availability and market functioning when financial conditions deteriorate. The proposal also follows a relaxation of US leverage requirements in November 2025, increasing competitive pressure on British lenders operating in global markets.
UK economic growth has remained subdued amid geopolitical uncertainty, which has pushed up commodity prices, added to inflationary pressures, and weakened consumer confidence. By improving banks' capacity to lend, the Bank of England aims to support economic activity and help restore confidence among households and businesses.
At the same time, the proposals heighten concerns about financial stability and market risk. Easier credit conditions could increase lending to highly leveraged investors, including hedge funds that use significant borrowing to purchase equities. A substantial share of this debt-fuelled activity has been concentrated in AI-related stocks, despite uncertainty over whether many AI investments will generate the expected returns. If AI projects fail to deliver, firms may struggle to service their debts, potentially increasing banks' non-performing **** ets and weakening overall credit quality.
The Financial Policy Committee has also flagged risks arising directly from rapid advances in frontier AI, which have progressed faster than many experts expected. While these systems could improve productivity, they may also materially increase cyber and operational risks by enabling malicious actors to cause disruption at lower cost and greater scale. Such shocks could affect banks and other systemically important financial institutions, with broader implications for the resilience of the financial system.

#financial #capital #lending #england

The benchmark diesel price used as the basis for most fuel surcharges rose this week by the second-largest amount since the start of the Iran war.
The Department of Energy/Energy Information Administration average retail diesel price climbed 33.8 cents/gallon to $5.134/g, published Tuesday but effective Monday.
The size of the increase is the second largest since the benchmark price rose 96.2 cts/g on March 9, the first time the DOE/EIA price measured a full week of market movement following the launch of military action against Iran by the U.S. and Israel on February 28/March 1.
With the benchmark price having moved up sharply two weeks in a row, it is now 55.6 cts/g more than where it stood just three weeks ago.
Retail prices, as they generally do, are reacting after the fact to increases in the price of ultra low sulfur diesel (ULSD) on the CME commodity exchange.

#retail #week