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The Wizards plan on holding on to one of their veteran stars amid trade rumors.

Chirayu Rana has finally outed himself in his salacious “sex slave” lawsuit against a JPMorgan bank boss, replacing his “John Doe” moniker for his own legal name after repeated judicial orders, court records show. Rana was staring down a deadline to correct the lawsuit by the end of last week and use his own name...

Now that LeBron is leaving Los Angeles, Bronny’s future with the Lakers is suddenly much less clear.

The Brendan Sorsby gambling scandal saga has taken a new turn. 

The Memorandum of Understanding may have been signed with Iran, but the Iranian people have not signed onto it.

Ukraine hit Moscow with a large-scale drone attack overnight, the latest major aerial attack on the Russian capital and on one of its largest satellite communication centers, officials said.

Disneyland is rolling out one of its cheapest ticket deals in years.

Three players the Rangers could target when NHL free agency opens on Wednesday, July 1 at noon ET.

LeBron James is returning for his unprecedented 24th NBA season, but not with the Lakers, with whom he spent the last eight seasons of his career, carrying them to a championship in 2020. 

Swift and Kelce are scheduled to exchange vows at Madison Square Garden on Friday, July 3.

Swift and Kelce are scheduled to exchange vows at Madison Square Garden on Friday, July 3.

Two-thirds of US residents say they have either achieved the American Dream or are on their way to it, while a growing number believe it's increasingly becoming a pipe dream, an America 250th anniversary survey found.

The Next Oil Rally Could Be Driven By Stockpile Refilling

Authored by Irina Slav via OilPrice.com,

• The Middle East conflict has disrupted more than 1 billion barrels of oil supply, but China's massive strategic crude stockpile helped offset the shock by sharply reducing imports, preventing oil prices from surging even higher.

• Countries are now racing to build or replenish strategic petroleum reserves, with the IEA planning to refill the 400 million barrels it released during the crisis and major importers like India looking to expand their emergency stockpiles.

• This wave of reserve rebuilding could create a major new source of oil demand, supporting crude prices once the Middle East crisis fully subsides as governments prioritize energy security alongside the energy transition.

The war in the Middle East has cost the world over a billion barrels in cumulative supply losses. Yet luckily, China had built a reserve of about the same size before the closure of Hormuz, so it stopped buying so much oil, arresting the inevitable price jump. Now, everyone wants to build an oil reserve—or needs to replenish the ones they already have.

Back in March, soon after the U.S. and Israeli attacks on Iran began, prompting the latter to retaliate by closing the Strait of Hormuz, the International Energy Agency said it would release 400 million barrels of crude from its joint emergency reserve. The reserve was set up, along with the IEA, as a response to the Arab oil embargo and other supply disruptions from the 70s, when the world was even more dependent on Middle Eastern crude than it is today.

The release announced in March worried oil market observers because it was set to be the largest ever made, much larger than what the IEA member states released in 2022 when Western sanctions on Russia following its incursion into Ukraine prompted a price spike. Back then, the IEA only released 182 million barrels. Now, member states stood ready to release 400 million barrels, plus millions of barrels from the U.S. strategic petroleum reserve.

All these millions of barrels would need to be replenished once the crisis is over, or even before it is over if it drags on. Analysts have been warning about it and about the potential of this replenishment drive to lift international prices, which have remained stubbornly depressed, even amid fresh reports of new strikes between Iran and the United States. Yet on top of the replenishment drive, there are nations seeking to build their own strategic reserves to insulate themselves from future shocks.

Reuters noted in a recent report that nations that had limited oil reserves at home had felt the pain from the closure of Hormuz more sharply than those with ample reserves. Such a conclusion is, of course, a no-brainer, but it is indicative of something besides the obvious, namely, that crude oil remains the ultimate fuel of the global economy, regardless of the acceleration of transition efforts in the past decade.

Multiple reports following the outbreak of war in the Middle East said it would prompt energy importers to switch to things like wind and solar in order to reduce their dependence on those imports of crude from the Middle East. Indeed, many governments across Asia—the most vulnerable region—did double and triple down on wind and solar, but at the same time signaled they are aware these cannot replace hydrocarbons to any meaningful degree. So they also started thinking about building an oil reserve. China was the inspiration.

There seems to be a pretty comprehensive agreement among energy analysts that China played an instrumental role in keeping the world from drowning in three-digit oil prices. It did this thanks to its tendency to plan well ahead and prepare for adverse events, such as a war in the Middle East. China had been buying oil on the cheap from Iran, Russia, and Venezuela for years, building the most massive oil reserve in the world. Funnily enough, reports about the gap between Chinese crude imports and refinery run rates served to keep a lid on prices, keeping oil cheaper for longer, helping China build its reserve. And when the war came, China slashed imports and dug into its oil inventories.

Following China’s example may be quite a challenge, though it seems simple on the face of it. The challenge, of course, is financial. India, for instance, wants to boost its own oil reserve, which is currently unacceptably low, covering just eight days of imports. The government has already instructed state major ONGC to add 13 million barrels to its crude reserve, but those 13 million barrels will not go a long way in case of shortages—and buying enough oil to help in case of shortages would cost tens of billions of dollars. India, by the way, is not the only large oil importer thinking of boosting its oil reserves. And China will need to refill its reserve, as will IEA members.

What this means is that demand for crude oil is about to rise the moment there is an indication that the crisis in the Middle East is over, for real this time. Even the International Energy Agency—of peak oil demand fame—said in its latest monthly oil report that it expected global oil demand to rebound to 2 million barrels daily in 2027, after dipping by 1.1 million barrels daily this year due to the crisis and its effect on supply and prices. In good news for buyers, the news of stronger demand would probably push oil prices lower.

Tyler Durden Tue, 06/30/2026 - 18:25

The 31-year-old officer, assigned to the Bronx’s 40th Precinct, was about to head to work around 5:45 a.m. when her neighbor alerted her to the suspicious crew at West 148 Street and Broadway in Hamilton Heights, the sources said. 

The crime syndicate made $10.6 billion in fraudulent claims in total, according to prosecutors. They were paid $941 million, which the gang are charged with promptly laundering through China, Israel, Pakistan, Singapore and Turkey.

Shohei Ohtani’s next pitching start is getting pushed back a couple days, with the two-way star now set to take the mound on Friday back in Los Angeles against the Padres, and not Wednesday’s series finale against the Athletics as originally scheduled.

After more than a decade in business, a beloved clothing retail store will close at the end of July, leaving Honolulu residents one less place to purchase clothing.

United States Postal Service (USPS) worker Michael Thompson, a Clovis, New Mexico, resident, was arrested Sunday after threatening on social media that he would commit a mass shooting at a Pride parade in Lubbock, Texas.

Republican strategist Matt Klink argued the funding addresses the symptoms rather than the underlying cause.

Republican-appointed Justice Clarence Thomas tore into transgenderism as a "lie to the public" in his concurrence on the Supreme Court's decision to uphold state-level policies restricting girls' sports to biological females.