US Diesel Crack Spread Hits Historic $102.20 as Hormuz Crisis Bites

📉 DIESEL — Record crack spread means the real economy just entered the war. 📌 LOOK CLOSER: The diesel crack spread measures refinery profit — when it hits $102, it means diesel is catastrophically scarce relative to crude. Every truck, tractor, and cargo ship runs on it. With Hormuz at 12% of pre-war traffic, distillate supply chains are snapping. This lands directly on food prices, freight costs, and CPI — the political variable Trump can least afford before midterms.

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UN: Yemen Displaced Rising by the Hour as Four-Front Offensive Advances

🏕️ YEMEN — UN says displaced rising by the hour; the four-front push explains it. 📌 LOOK CLOSER: Four simultaneous advances on Al Jawf, Taiz, Al Bayda, and Al Hudaydah are generating displacement UN cannot yet quantify. IRGC resupply to Houthis is degraded by Hormuz pressure — no Tehran incentive for a humanitarian

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Saudi Arabia Says Road to Houthi Diplomacy 'Not Closed' After Major Strikes

🕊️ RIYADH — Saudi taking Houthi hits but refusing to shut the diplomatic door. 📌 LOOK CLOSER: Riyadh absorbed Jizan and 73 Houthi casualties yet signals openness to talks — because any Houthi restraint deal requires Tehran's sign-off, and MBS knows it. Moscow talks already sent that message. A negotiated Houthi

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Russia and Saudi Arabia Hold Talks in Moscow Amid Gulf Crisis

🤝 MOSCOW — MBS chose Moscow while Houthi rockets were still landing on Saudi soil. 📌 LOOK CLOSER: Saudi absorbed Jizan and 73 Houthi casualties — yet sends officials to Moscow, Iran's closest great-power partner. Russia can press Tehran on Houthi restraint; Riyadh offers oil coordination in return. A joint briefing

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UK Expands Iran Sanctions: Finance, Trade, Aviation, and Ship Powers

🇬🇧 LONDON — Britain tightening the noose while Washington holds the gun. 📌 LOOK CLOSER: UK sanctions expanding across finance, trade, aviation, and ship interdiction powers creates a parallel enforcement architecture outside US jurisdiction. With Oman's IMO shipping corridor near completion, British ship-sanctioning powers can legally undercut safe-passage guarantees

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UN: Yemen Displaced Rising by the Hour as Four-Front Offensive Advances

Saudi Arabia Says Road to Houthi Diplomacy 'Not Closed' After Major Strikes

Russia and Saudi Arabia Hold Talks in Moscow Amid Gulf Crisis

UK Expands Iran Sanctions: Finance, Trade, Aviation, and Ship Powers