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The U.S. Strategic Petroleum Reserve (SPR) was created in the 70s as a safeguard against major disruptions in oil imports. Well, those 700 million barrels were never used for its intended purpose.
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While oil is still moving through the Strait of Hormuz, flows remain a fraction of pre-war levels.
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You know what happens when you do exactly what the Chinese government tells you to do? You get sentenced to life in prison. That just happened to Evergrande's former chairman, and it tells you everything you need to know about China's failing real estate system.
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A leaked Moscow memo stated that Russian air defenses are being concentrated around the Kremlin. This leaves the broader Moscow region, including refineries and key infrastructure, vulnerable to Ukrainian attacks.
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Crippling one of the world's most deeply integrated manufacturing systems probably isn't a great idea, but here we are again.
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