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Global oil demand: remember when it couldn't get past 99 million bbls /day.
Now we have huge amounts of oil being trapped inside the strait, and China holding back huge amounts of oil imports. We are seeing huge amounts of demand destruction for oil. Every August, the IEA revies global oil demand. Today's revision: global oil demand has risen to 104.8 million bbls/day, about 300K bbls/day higher than the last estimate. IEA still sees the market last year oversupplied, with supply running about 106.d million bbls /d vs demand of 104.8.
Zero-day options: it's simply a bet on the red/green for a particular stock for the day. And that option action is increasing.
Anticipation:
CRWV: surging overnight and holding that surge overnight -- up 18% right now.
Foxconn: beats; huge profit jump; about 35%.
Norway: nation's wealth fund posts record $184 billion; reveals SpaceX stake for first time. Norway's sovereign wealth fund is world's largest such fund.
Mideast: Houthis are becoming increasingly active. This seems to suggest the Iranians are becoming more desperate by the day. The fact President Trump is so sanguine with regard to the war, he knows what is going on. More cargo ships targeted; more deaths. Trump seems uninterested. Mideast turning to pipelines.
Allies to cut Iran out of global oil. By Simon Watkins -- so you know it's accurate and it's good. Link here.
K-Cups: it appears K-cups have increased in price significantly and, at least on Amazon, Bustello has dialed back its promotions. Where in the past, K-cups less than $0.60/cup were easy to find, it's becoming more and more standard for K-cups costing more than $1.10 / cup.
Eggs: link here. Back to 2008 prices.
US savings rate: approaching its 10-year low, and the trend has been down for quite some time. Is the personal savings rate a leading indicator. Link here.
