Day: October 9, 2026

Middle East refineries crippled, about 15 Russian plants knocked out by Ukrainian drones, China holding back exports, and 12% of the world’s refining capacity offline…

That leaves US refiners selling into a starved market, and the gap between the crude Valero buys and the fuel it sells jumped from about 72 cents a gallon to $1.12 in a single quarter.

Trump already told the industry it’s “making too much money,” yet nobody is building new plants because they expect the boom to fade.

So who’s paying for that extra 40 cents?

Farmers, truckers and families are.

Source: The Wall Street Journal / Writer: Daniel

Philip Pilkington calls it a gross bloodsport, with crews treated as expendable props in an information war so somebody can claim the waterway is open.

The headlines change, but the drones and missiles stay right where they were.

Good optics have never stopped a single drone.

@philippilk
Video
  Mario Nawfal (@MarioNawfal)🇸🇦 🇾🇪 Saudi Arabia is taking losses to the Houthis while leaning on outside military help, and its credibility is paying the price.

Philip Pilkington says Riyadh badly underestimated what the Houthis could do, and now every setback and every call for foreign firepower makes the kingdom look weaker at home and abroad, with no easy exit in sight.

The longer this drags on, the more the danger moves from the battlefield to the palace.

@philippilk
Video
  —  https://x.com/MarioNawfal/status/2108412678347661538

Five major strike plans rejected, a new three-day campaign drawn up anyway, and the first three-carrier lineup in the Middle East since 2003…

US officials say the latest option would hit Iran’s rebuilt missile and drone arsenal, its energy sites and Revolutionary Guard headquarters, though Trump has now ruled out any strike before Nov. 3.

Meanwhile Iran has hit at least 13 ships since September, nearly 20 by intelligence counts, with no major US response, and stopping each Iranian salvo now burns MORE interceptors than early in the war.

So what is all that firepower for if it stays parked?

Holding fire through the elections makes sense, but every week of pause lets Iran rebuild while interceptor stocks keep shrinking, so any strike after Nov. 3 gets costlier the longer this waits.

Source: The New York Times / Writer: Daniel