Aggregator
Cale Makar signs richest deal in NHL history with $163.2 million Avalanche contract extension
Devin Williams gets candid on his Mets injury recovery — and new-look bullpen’s success in his absence
Inside Daejon Love’s fake 49ers NFL life and scams to steal $1.3M from women
Iranian mother sentenced to death — simply for snapping photos of protest fire
Trump announces ‘biggest oil deal in world history’ with Venezuela to secure 65 billion reserve barrels
Wild proposal in city council meeting aimed at creating build public ‘sex huts’ for LA homeless
The Iran War Has Turned VLCCs Into $650,000-A-Day Assets
Authored by Julianne Geiger via OilPrice.com,
More Gulf oil is moving again. Getting it out now costs a fortune.
Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago-and nearly 27% above the $510,000 reached just ten days earlier.
The spike comes as Persian Gulf producers increase crude shipments through the Strait of Hormuz despite the continuing Iran war.
That should, in theory, ease the oil supply crunch. Instead, it has created another one: ships.
Few tanker owners are willing to send vessels through Hormuz, leaving exporters competing for the smaller pool that will take the risk. The result is an extraordinary premium for anyone willing to make the trip.
And crossing Hormuz is increasingly only the first leg.
Producers have begun shuttling crude through the strait before transferring cargoes onto other tankers outside the Gulf. That effectively creates two freight bills-one for getting the oil through Hormuz and another for hauling it onward to Asia.
TotalEnergies CEO Patrick Pouyanne said earlier this week that moving a cargo through Hormuz cost about $20 million. Tanker market participants told Bloomberg those costs have risen further since then.
Even outside the strait, rates are climbing. A tanker traveling from Oman to China now commands roughly $220,000 per day, up from $131,000 a month ago.
The squeeze is being amplified by Houthi attacks in the Red Sea, which have forced Saudi Arabia to redirect some barrels through the Mediterranean and around Africa, adding roughly 30 days to voyages bound for Asia.
There are signs that more oil is escaping the Gulf. Traders estimate Hormuz outflows at 6 million to 8 million barrels per day, while Goldman Sachs puts flows at roughly two-thirds of pre-war levels.
By Julianne Geiger for Oilprice.com
Tyler Durden Fri, 08/28/2026 - 19:15Tom Hardy shocks fans with surprising career move
Tom Hardy shocks fans with surprising career move
Tarik Skubal gets mostly warm reception in Detroit return with Dodgers
Young survivor of catastrophic flooding in Nepal reunites with his mother — who feared her 2 kids were dead
Warriors prepared to offer Steph Curry insane amount to retire in Golden State
How can the city make Mamdani Marts work when it bungles a simpler grocer plan?
Jurors in Lindsay Clancy murder trial return home for weekend after 10 hours of deliberations and no verdict
Bessent's War On Left-Wing NGOs May Strip Soros Network, SPLC, And CAIR Of Tax-Exempt Status: Report
A new report from the New York Post maps out a multi-agency Treasury task force that could soon pursue a broad review that could strip tax-exempt status from George Soros' far-left Open Society Foundations, the Southern Poverty Law Center and the Council on American-Islamic Relations.
Treasury officials are drafting a framework to audit NGOs suspected of exploiting their 501(c)(3) status for political activity, illegal conduct or support of radical groups, the Post reported, citing three people familiar with the internal deliberations.
One source said Treasury Department officials were "like a dog with a bone" and reckoned that many NGOs and their donor bases could be "on borrowed time."
So Trump and his administration are going after Antifa, Soros, and the Muslim Brotherhood, all at the same time, right as we learn about Antifa being connected to a global terrorist network connected to Islamic terror organizations like Hamas and the IRGC.
It’s happening. https://t.co/6QkdvR1jvK
"There's a lot of internal pressure to get it done, but some people are still moving too slowly at the IRS," the source said. "That is expected to change very soon."
Bessent confirmed last October that Treasury had begun compiling a list of nonprofits for review.
The information leaked to the New York Post comes roughly six weeks after Secretary of State Marco Rubio, White House Deputy Chief of Staff Stephen Miller and Treasury Secretary Scott Bessent addressed delegations on the alarming rise of far-left terrorism.
"For more than six decades, the Cuban regime has been the leading sponsor of radical leftism and Third Worldism in the United States. The State Department is exposing the full history of Cuban espionage and subversion in our country," Rubio wrote on X, adding, "The American people deserve to know."
This week, the U.S. Treasury Department sanctioned three NGOs it accused of supporting far-left terrorism.
"Far-left extremists, their fronts, and their enablers should be on notice: We will bring the full weight of our economic tools to bear," Bessent said in a statement. "Political terrorism has no place in our society, and we will continue to cut the financial lifelines of these groups until they are eliminated."
Taken together, the Trump administration's actions demonstrate a coordinated effort to degrade the financial, legal, and organizational infrastructure supporting far-left activist networks, the very same ones that like to start riots and burn down city blocks.
The target set includes NGOs, billionaire-funded foundations and foreign influence networks linked to Cuba and China, including the nonprofit sphere associated with China-based Marxist billionaire Neville Roy Singham, which U.S. officials have accused of facilitating subversive activity.
Whether the campaign is working should be assessed by examining reduced funding flows, weaker mobilization, and the inability to sustain coordinated unrest. The absence of riots and chaos this summer may suggest that the task force is already working to dismantle these revolutionary networks, which could very well be part of the counterstate against Trump.
Tyler Durden Fri, 08/28/2026 - 18:50