Aggregator
Judge crucifies woman convicted in sickening neglect of 35-pound teen: ‘Stray animals are treated better’
Pilot triggers emergency landing at LAX after falling extremely ill on flight: ‘I need to go to the hospital’
Andrew Tate’s own lawyer compares him to absurd comedy character ‘Ali G’ as shackled influencer appears in court
California manufacturing giants takes jobs out of state in expansion move
Eyewitness footage captures moment Nepal floodwaters obliterate hydroelectric dam under construction
Qatar And Kuwait Restore 70% Of Pre-War Oil Exports Through Hormuz
Authored by Tsvetana Paraskova via OilPrice.com,
Qatar and Kuwait have managed to boost their crude oil exports from the Strait of Hormuz to 70% of pre-war levels as they followed the United Arab Emirates in shuttling oil through the chokepoint and using ship-to-ship transfers in the Gulf of Oman, anonymous traders told Bloomberg on Thursday.
Before the Middle East conflict, Qatar and Kuwait collectively exported about 2 million barrels per day (bpd) of crude oil via the Strait of Hormuz.
They don't have alternative routes as Saudi Arabia and the UAE do, and struggled to ship oil out of the Persian Gulf in the first couple of months of the conflict.
But around June, Kuwait and Qatar began shuttling crude out of Hormuz and offered it for transfers outside the chokepoint in the Gulf of Oman.
The increasing Kuwaiti and Qatari oil volumes add to the barrels that Saudi Arabia and the UAE have been sneaking through the Strait of Hormuz and on routes bypassing it since the start of the war.
The UAE has managed to boost its oil exports to pre-crisis levels as early as June, as it has kept pushing crude through the Strait of Hormuz and beyond. It has been shuttling crude through the chokepoint to load it on larger vessels outside the Strait, maximizing the use of its onshore pipeline to ship crude from the west to the east of the country, bypassing Hormuz, and shipping tankers through the Strait in dark mode.
Saudi Arabia, for its part, has also started offering STS transfers of Gulf crude outside Hormuz, and has been using the Red Sea and Egypt's Mediterranean ports to bypass the Persian Gulf's chokepoint.
Thanks to the shuttle services and dark activity, total oil flows through the Strait of Hormuz have now risen to about 7-8 million bpd, up from about 4 million bpd in the middle of July, according to Bloomberg's trading sources.
The under-the-radar operations and the Gulf states' creative solutions to the threats in the Strait of Hormuz and the Red Sea have helped keep oil flowing, even if at much reduced rates compared to February levels.
The higher oil volumes exiting the Persian Gulf have kept benchmark crude oil futures in check despite the tightening global fuel markets.
Tyler Durden Thu, 08/27/2026 - 13:4038M Americans face possible tornadoes and flooding as NYC, East Coast cities targeted by storms
Jen Rubio celebrates birthday with extravagant Hamptons bash – and her estranged husband
Bella Hadid joins sister Gigi in a cowgirl showdown for Guest in Residence campaign
Bella Hadid joins sister Gigi in a cowgirl showdown for Guest in Residence campaign
Trump signs executive order renaming Lake Ontario to Lake America ‘effective immediately’ — in jab to ‘nasty’ Canada
Inside Dolly Parton’s ‘unconventional’ decades-long marriage to husband Carl Dean — and why she felt ‘sadness’
Inside Dolly Parton’s ‘unconventional’ decades-long marriage to husband Carl Dean — and why she felt ‘sadness’
Pumpkin spice hype finally dying after 20-year chokehold on consumers
Average 7Y Auction Stops On Screws As Foreign Demand Drops
A stellar 2Y auction, a subpart 5Y, and it only makes sense that we end the week with a perfectly average sale of $44BN in 7Y bonds.
The last coupon auction of the week priced at a high yield of 4.512%, up from last month's tailing 4.473%, and on the screws with today's When Issued 4.512%. Remarkably, this is the 3rd 7Y auction to price on the screws in 2026 alone, suggesting this tenor may be the most relevant one for market accuracy ahead of the actual auction.
The bid to cover rose to 2.505, up from 2.486 last month and the highest since May; it was also above the recent average of 2.491.
Internals took a small step back: Indirects were awarded 60.8%, down from 70.2% in July and below the six-auction average of 65.1%. And with Directs taking 27.0%, up from 16.9% last month, Dealers were left with 12.3%, the lowest since May if above the recent average of 11.8%.
Overall, this was a snoozer of an auction and maybe that's for the best one week after the Bessent Buyback Bluff sparked market chaos and turmoil across the entire yield curve. In short: things are mostly back to normal, even if yields on the long-end remain just shy of multi-year highs.
Tyler Durden Thu, 08/27/2026 - 13:21Josh Kushner may face subpoenas as UEFA weighs criminal case against FIFA boss Gianni Infantino
Dollar General Jumps On "Traffic-Led Momentum" As $4 Gas Accelerates Consumer Trade-Down
Dollar General shares surged 6% in the cash session Thursday morning after stronger customer traffic fueled a second-quarter earnings beat and prompted the discount retailer to raise its full-year outlook.
Jefferies analyst Corey Tarlowe wrote in a first take on earnings that "traffic-led momentum drives another beat."
The discount retailer, with 21,000 stores nationwide, most of them located in low-income ZIP codes, reported second-quarter earnings of $2.48 per share, up from $1.86 a year earlier and well above the Bloomberg Consensus estimate of $2. Revenue increased 5.2% to $11.29 billion, while comparable sales rose 3.5%, exceeding the 2.63% expected by analysts tracked by Bloomberg.
Operating profit in the quarter jumped 29% to $769.2 million, beating the $637 million estimate. Gross margin expanded to 32.6% from 31.3% one year ago and came in well above the 31.7% consensus forecast.
Tarlowe said the results reflected "broad-based category strength" and continued traffic momentum, with customer visits rising 2%.
Dollar General raised its 2027 comparable-sales growth forecast to a range of 2.5% to 2.9%, from a previous range of 2.2% to 2.7%. The retailer now expects earnings of $7.80 to $8 per share, up from $7.20 to $7.45 and also above estimates.
That strength may be a little deceiving and might not signal a healthy consumer. Dollar General's traffic-led growth suggests cash-strapped households continue to trade down.
Last week, Walmart reported that sales were under pressure as lower-income consumers pulled back amid a national average gasoline price above the politically sensitive $ 4-per-gallon threshold and a rising-rate environment.
Wells Fargo analysts remained cautious about whether the discount retailer’s momentum could continue into 2027, even as they described the second-quarter results as encouraging.
Shares are up 6% on the session, breaking above a summer high.
Meanwhile, Treasury Secretary Scott Bessent told CNBC's Squawk Box earlier this month, "I got sick of hearing about this K-shaped economy. I can say here definitively, the K-shaped economy is over."
Tyler Durden Thu, 08/27/2026 - 13:20