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Fri, 24 Apr 2026 00:45:00 +0000 Iran Announces First Hormuz Toll Fees Successfully Transferred To Central Bank
Iran Announces First Hormuz Toll Fees Successfully Transferred To Central Bank
President Trump has repeatedly said that Iran "better not" collect tolls from ships seeking to traverse the Hormuz Strait waterway, as both warring sides
Read more.....
Iran Announces First Hormuz Toll Fees Successfully Transferred To Central Bank
President Trump has repeatedly said that Iran "better not" collect tolls from ships seeking to traverse the Hormuz Strait waterway, as both warring sides have initiated their own rival blockades of different sectors of the strait.
Just last week, Trump had flatly rejected the possibility of Tehran imposing fees - reportedly $2 million or perhaps even more - when a reporter asked about the prospect of restrictions or tolls managed by Iran for strait passage. "Nope. No way. No. Nope," Trump had responded . He said there can't be tolls along with restrictions, suggesting that a future system could perhaps be worked out, even of some kind of toll-sharing scheme. "No, they’re not going to be tolls."
The Central Bank of Iran. Source: Iran International
Earlier this month the president had even stated of tolls, "We're thinking of doing it as a joint venture" - in reference to Washington and Tehran, which of course raised eyebrows. "It’s a way of securing it — also securing it from lots of other people. It’s a beautiful thing."
"We’ll be loading up with supplies of all kinds, and just ‘hangin’ around’ in order to make sure that everything goes well," Trump had later separately written on Truth Social. "I feel confident that it will."
But after all this, on Thursday Iran has publicly announced for the first time that initial toll payments have been successfully transferred to the state-operated Central Bank of Iran (CBI) :
The Iranian authorities have received revenue from tolls for ships crossing the Strait of Hormuz for the first time, Parliament Deputy Speaker Hamid Reza Hajibabai said.
"The first revenue received from tolls in the Strait of Hormuz has been transferred to the Central Bank's account," the Fars news agency quoted him as saying.
A specific monetary amount was not given, but this week has seen reports that several Iranian tankers, with transponders off, have made it past the US Navy's blockade - which the Pentagon has denied. State media says:
IRAN RECEIVED HARD CURRENCY PAYMENT FOR HORMUZ TOLL: FARS
According to Drop Site News:
Iran formally codified the toll system in its “Strait of Hormuz Management Plan,” passed by parliament on March 30-31. The IRGC charges up to $2 million per vessel, with fees running approximately $1 per barrel of crude cargo — meaning a fully loaded supertanker could pay $2 million per transit.
Also, the US side has said that dozens of international vessels have been approved for safe passage and have made it out. The US is halting and intercepting any vessel connected with Iranian ports, whether they be inbound or outbound, and especially if they are under sanction.
Tyler Durden
Thu, 04/23/2026 - 20:45 Close
Fri, 24 Apr 2026 00:20:00 +0000 Judge Blocks Trump Admin's Move To Halt Wind, Solar Approvals
Judge Blocks Trump Admin's Move To Halt Wind, Solar Approvals
Judge Blocks Trump Admin's Move To Halt Wind, Solar Approvals
Authored by Owen Evans via The Epoch Times,
A federal judge on Tuesday blocked the Trump administration’s efforts to halt federal approvals for wind and solar projects.
Chief U.S. District Judge Denise Casper in Boston issued a preliminary injunction on April 21, sought by a coalition of renewable energy groups.
The injunction blocks five specified agency action measures, including Interior review rules, a wildlife permitting ban, land-use limits, an Army Corps memo, and a legal opinion that had tightened permitting and slowed wind and solar approvals.
The judge said the plaintiffs were “likely to succeed on the merits of their claims” that the Interior Department and other agencies adopted policies that violate the Administrative Procedure Act, which governs how U.S. agencies make and justify policy decisions.
Her ruling applies to members of the plaintiff organizations, which include RENEW Northeast and Alliance for Clean Energy New York.
“This is an undeniable victory for members of our coalition and the broader clean energy industry, as well as American households and businesses,” ?the groups said in a joint statement.
The Interior Department said in a statement that while it does not comment on litigation, “America sets the global standard for energy production.”
On his first day in office, President Donald Trump pledged to maximize U.S. oil and natural gas production and suspended offshore wind leases.
On April 20, Trump invoked the Defense Production Act to issue a series of memorandums focused on strengthening coal supply chains, ?natural gas transmission, and ?liquefied natural gas capacity.
The president also signed memos aimed at boosting domestic petroleum production, enhancing grid infrastructure, and expanding the deployment of “large-scale energy” and related infrastructure.
In a post on X, White House spokeswoman Taylor Rogers said the memos would allow the Energy Department to use funding from the One Big Beautiful Bill Act to strengthen the country’s “grid infrastructure and unleash reliable, affordable, secure energy.”
The Defense Production ?Act is ?a ?Cold War-era legislation that grants the president authority to expand and expedite the supply of materials from the domestic industrial base for national security purposes.
In April 2025, the Trump administration ordered a halt to the development of Norway-based company Equinor’s Empire Wind project, which the Biden administration approved in 2023. However, the stop-work order was lifted a month later, and construction was allowed to resume.
The Trump administration’s actions are a significant shift from the Biden administration’s effort to expand wind-power leasing, which aimed to build 30 gigawatts of offshore wind power by 2030 and another 15 gigawatts of floating offshore wind power by 2035.
According to legal firm Latham & Watkins, Foreign Entity of Concern rules, strengthened by the One Big Beautiful Bill Act, aim to block the Chinese regime’s influence in the solar and renewable energy supply chain by denying clean energy tax credits to projects that involve entities linked to the regime.
U.S. Energy Secretary Chris Wright told the BBC in September 2025 that the Trump administration had “serious concerns” about Europe’s reliance on Chinese renewable technologies.
“It looks like the Chinese could control what’s going on with your energy system,” he said.
Wright also claimed in a Sept. 2, 2025, post on X, “Even if you wrapped the entire planet in a solar panel, you would only be producing 20 percent of global energy.”
“One of the biggest mistakes politicians can make is equating electricity with energy,” he added.
Trump, a vocal critic of wind energy, particularly in the UK, has described it as “the most expensive energy ever conceived.”
Tyler Durden
Thu, 04/23/2026 - 20:20 Close
Thu, 23 Apr 2026 23:55:00 +0000 Mercuria, Goldman, JPMorgan See Major Aluminum Market Shock
Mercuria, Goldman, JPMorgan See Major Aluminum Market Shock
Analysts at Mercuria, the Geneva-based Swiss commodities trading firm, are sounding the alarm on the global aluminum market after severe disruptions in th
Read more.....
Mercuria, Goldman, JPMorgan See Major Aluminum Market Shock
Analysts at Mercuria, the Geneva-based Swiss commodities trading firm, are sounding the alarm on the global aluminum market after severe disruptions in the Gulf region, adding to a growing list of trading desks and research teams warning of a deepening supply shock.
"The scale of the supply shock we're seeing in the aluminum market is probably the largest single supply shock a base metals market has suffered in the post-2000 era," Mercuria commodities analyst Nick Snowdon told Reuters on the sidelines of the Financial Times Commodities Global Summit in Lausanne, Switzerland.
Snowdon then told Reuters, "We are already in a 'black swan' event. No one could have foreseen something on this scale."
Mercuria is a Swiss commodities trading house based in Geneva. Its traders sell, ship, store, and finance physical commodities across markets such as oil, gas, power, LNG, and metals.
Snowdon's alarm over the global aluminum market is mainly because the Gulf region accounts for 9% of world supply, and with major smelters already declaring force majeure and the Hormuz chokepoint blocked for much of this week, this is shaping up to be one of the most memorable shocks in the metal market in decades.
Aluminum prices have already surged to a four-year high, and Mercuria estimates the market could face at least a 2 million-ton deficit by the end of the year, potentially worse if the US-Iran conflict drags on and alumina flows through Hormuz chokepoint remain heavily constrained.
"That shortfall compares with about 1.5 million tons of visible inventory and just over 3 million tons of total global stock, including non-visible units, leaving the market with limited buffers ," Snowdon said, adding that a larger deficit is possible.
He warned that the most exposed supply chains to the Gulf shock are in the US and Europe . He noted both regions rely heavily on Middle Eastern aluminum imports and already have low stockpiles .
Last week, JPMorgan analysts warned that the aluminum market is descending into a black hole , or a "metaphorical point of no return," where the "global aluminum market will face a serious and prolonged supply outage," even if vessel flows through the Hormuz chokepoint resume in the near term.
Separately, Goldman commodity specialist James McGeoch recently warned clients, "Hard to think of a bigger metal supply shock : High degree of expectation this was where it was heading, but the initial reaction was to fade the uncertainty yesterday. That should be replaced by fresh length if history is a guide."
From Mercuria to JPM to Goldman, traders and analysts at these mega institutions are all warning of a metal supply shock , with major risks that could curtail the production of anything from planes to tanks to cars and even power infrastructure.
Tyler Durden
Thu, 04/23/2026 - 19:55 Close
Thu, 23 Apr 2026 23:29:00 +0000 Trump Confirms Possible U.S. Takeover Of Spirit If 'Price Is Right'
Trump Confirms Possible U.S. Takeover Of Spirit If 'Price Is Right'
Trump Confirms Possible U.S. Takeover Of Spirit If 'Price Is Right'
Summary:
Trump Confirms possible U.S. Gov't takeover of Spirit
WSJ says the Trump administration's possible $500 million rescue deal could leave the U.S. government with 90% control .
WSJ says Commerce Secretary Howard Lutnick is leading the effort in U.S.-Spirit talks.
BBG reported earlier on a potential $500 million rescue loan for Spirit .
News of a possible rescue loan for Spirit emerged last week.
Polymarket:
US takes a stake in Spirit Airlines by May 31?
Yes 36% · No 64%View full market & trade on Polymarket
Spirit Airlines shutdown/liquidation by May 31?
Yes 51% · No 49%View full market & trade on Polymarket Trump Confirms Possible Taxpayer Takeover Of Spirit
In the Oval Office early Thursday evening, President Trump was asked by a reporter about a potential taxpayer-funded takeover of Spirit Airlines.
A reporter asked Trump: "Is the government going to buy a stake in Spirit Airlines?"
Trump responded:
So, Spirit is an airline that's had some trouble. They were going to merge with People Express or one of them a number of years ago and Barack Hussein Obama decided it was a bad idea. How did that work out? It was bad for both of them. That would have been a natural merger—not United, American, but Spirit.
We're looking at helping them. We have 18,000 people that live in this country —some great people and great employees. We're thinking about doing it, helping them out—meaning bailing them out or buying them out.
We may just buy it! We'd be getting it virtually debt-free. They have some good aircraft and some good assets... and when the price of oil goes down, we could sell it for a profit. I'd love to be able to save those jobs. I want to be able to save an airline. You know, I like having a lot of airlines so it's competitive.
So we are looking at Spirit. It's in bankruptcy court. And we're looking, if we could get it for the right price, I'd do it to save the jobs. And we have somebody that wants to run it, do a good job. Smart person. And if they run it properly and if prices come down, all of a sudden it's a valuable asset. And some very good slots too which are pretty valuable.
More Color on Potential Deal
Shortly after, The Wall Street Journal reported on the Trump administration's potential rescue package for bankrupt Spirit Airlines. Bloomberg followed with a report stating that the emergency deal to save Spirit could give the U.S. government the option to own up to 90% of the carrier after bankruptcy.
Both reports state that the draft deal could provide up to $500 million in financing in exchange for warrants tied to a large equity stake, although talks remain ongoing and no final agreement has been reached. Bloomberg reports that
Commerce Secretary Howard Lutnick is leading the effort to save Spirit through an emergency agreement.
WSJ Breaks Story on Trump Admin Nearing Possible Rescue Loan for Spirit
The Wall Street Journal reports that the Trump administration is nearing a rescue deal for bankrupt Spirit Airlines that could include up to a $500 million loan in exchange for warrants that would give the federal government a potentially large equity stake.
The WSJ noted that the Transportation and Commerce Departments are involved in talks to help save struggling Spirit, which faces the risk of imminent liquidation.
Last week, multiple news outlets reported that Spirit was flying on fumes as soaring jet fuel prices pushed the bankrupt airline deeper into turmoil. The carrier, in its second bankruptcy since 2024, had been set to exit bankruptcy this summer, but the jet fuel price shock clearly derailed those plans.
There was also a report late last week from aviation news website The Air Current stating that the airline had asked the Trump administration for "hundreds of millions of dollars in emergency funding" to prevent liquidation by creditors.
Then on Tuesday, President Trump told CNBC's Squawk Box that the federal government could help Spirit.
"I don't mind mergers. I think I'd love somebody to buy Spirit, as an example. You know, Spirit's in trouble. ... Maybe the federal government should help that one out," Trump said.
Transportation Secretary Sean Duffy met with budget carriers later on Tuesday to discuss the impact of higher jet fuel prices on their businesses.
If the federal government provides Spirit with a rescue deal in exchange for a major stake in the airline, it would add the airline to the growing list of firms in which the Trump administration has taken stakes, including Intel, MP Materials, USA Rare Earth, Trilogy Metals, and others.
Tyler Durden
Thu, 04/23/2026 - 19:29 Close
Thu, 23 Apr 2026 23:05:00 +0000 Rep. Luna Wants Pardon For Soldier Arrested In $400K Maduro Raid Insider Bet
Rep. Luna Wants Pardon For Soldier Arrested In $400K Maduro Raid Insider Bet
Federal authorities arrested a US Army special forces soldier Gannon Van Dyke on Thursday for allegedly using classified insider information from t
Read more.....
Rep. Luna Wants Pardon For Soldier Arrested In $400K Maduro Raid Insider Bet
Federal authorities arrested a US Army special forces soldier Gannon Van Dyke on Thursday for allegedly using classified insider information from the capture of Venezuelan President Nicolás Maduro to place winning bets worth hundreds of thousands of dollars on Polymarket - the first known instance of the Department of Justice prosecuting insider trading on such a platform.
According to the DOJ , feds claim that Van Dyke - who took part in the January 2026 "Operation Absolute Resolve" that captured Maduro and his wife, Cilia Flores - wagered approximately $33,933 across four Polymarket contracts in the hours before President Donald Trump publicly announced the success of the raid. The largest single bet, $32,537 , was placed on Maduro being out of office by January 31. When the operation succeeded and Maduro was taken into US custody, the soldier pocketed more than $404,000 on that contract alone, for a total profit exceeding $409,881.
An active-duty soldier stationed at Fort Bragg, a military base in Fayetteville, North Carolina, Van Dyke had signed nondisclosure agreements promising never to divulge classified or sensitive information relating to military operations. The indictment claims that starting around December 8, 2025, and continuing through at least January 6, 2026, he was involved in the planning and execution of Operation Absolute Resolve, giving him access to sensitive, nonpublic, classified information about the raid.
Meanwhile Rep. Anna Paulina Luna (R-FL) has called for Van Dyke to be pardoned, saying "Unless the DOJ plans on going after all the crooks in congress currently insider trading, this is simply skewed justice."
Rest assured, the feds are coming for betting markets with hammer and tongs.The Commodities Exchange Act prohibits federal employees or agents from trading on confidential government information, but applying those rules to anonymous, crypto-based prediction markets presents novel challenges for prosecutors . US Attorney for the Southern District of New York Jay Clayton noted in March that his office was actively examining "laws similar to insider trading laws" for these platforms. One former federal prosecutor described the Maduro bets - which came when the market priced intervention at just 6% - as bearing “all the hallmarks of an insider trade.”
The arrest follows earlier public scrutiny of suspiciously timed Polymarket wagers, including large profits on US strikes against Iran and the removal of Ayatollah Ali Khamenei. In February, Israeli authorities charged an army reservist and a civilian with using classified information to bet on Polymarket.
Prediction markets have drawn massive Wall Street and institutional interest, highlighted by Intercontinental Exchange (owner of the NYSE) committing up to $2 billion to Polymarket and Coatue Management leading Kalshi’s $1 billion funding round (valuing it at $22 billion) , with participation from Paradigm, Sequoia, a16z, Founders Fund, and General Catalyst. Quant giants Susquehanna and Jump Trading are providing deep liquidity and equity stakes, while Goldman Sachs is actively exploring the sector and prime brokers now route hedge-fund orders into these platforms.
French Riggers?
Meanwhile across the pond, French cybercrime police are examining claims that someone deliberately heated a Météo-France temperature sensor at Paris’s Charles de Gaulle airport to trigger artificial spikes and cash in on high-stakes weather wagers, according to Le Monde .
AFP/Getty
The inquiry began after Météo-France filed a formal complaint citing "physical findings on one of our instruments and the analysis of sensor data." Unusual temperature jumps coincided with large bets on the exact temperature in Paris on dates including March 12 and April 16. More than $500,000 was at stake on some days , according to the On April 15, for example, an unexpected 5°C evening spike to 19°C allowed three separate wallets to profit more than $280,000 combined. One anonymous trader placed a last-minute bet and walked away with $21,000 ; the same wallet also held positions on weather in Seoul and Toronto,
On Polymarket Discord channels, bettors openly joked about the anomalies. One shared an AI-generated image of a man aiming a hairdryer at a weather station near an airport runway. Another asked: "What did you do to the temperature sensor at Paris airport yesterday? Was your weapon of choice a hairdryer or a lighter?"
So, absolute dumbfucks all around.
In response, Polymarket has stopped using the Charles de Gaulle sensor for its Paris temperature markets and switched to data from Paris-Le Bourget airport.
Tyler Durden
Thu, 04/23/2026 - 19:05 Close
Thu, 23 Apr 2026 23:00:00 +0000 Breakthrough: Trump Unveils 3-Week Extended Ceasefire In Lebanon, But Says 'All The Time In The World' To End Iran War
Breakthrough: Trump Unveils 3-Week Extended Ceasefire In Lebanon, But Says 'All The Time In The World' To End Iran War
Breakthrough: Trump Unveils 3-Week Extended Ceasefire In Lebanon, But Says 'All The Time In The World' To End Iran War
Summary
Trump unveils three week extended ceasefire in Lebanon , wants country to "protect itself from Hezbollah".
Israeli media says Iran Parliament Speaker resigns from negotiating team under IRGC pressure , oil spikes. Iran rejects report as completely false .
Trump orders US Navy 'shoot & kill' small Iranian boats amid concern over mines in Hormuz. Says US now "doesn't need a deal" . Says he has "all the time in the world, Iran does not" - to end the war.
Overnight, US military intercepted two more Iranian oil supertankers that tried to evade the blockade And in Indian Ocean US conducted a maritime interdiction and right-of-visit boarding of the sanctioned stateless vessel M/T Majestic X transporting oil from Iran.
Media sources confirm based on prior Trump post that US has extended the ceasefire indefinitely until 'unified proposal' can be brought forward by Tehran.
Iran announces first Hormuz tolls paid to the country's central bank . Also asserts US blockade breached & could build atomic bomb "if we wanted to" .
US x Iran permanent peace deal by June 30, 2026?
Yes 56% · No 44%View full market & trade on Polymarket * * *
Lebanon Breakthrough Announced By Trump
A huge breakthrough in Lebanon, where President Trump has declared an extended ceasefire for three weeks - though there have still been reports of sporadic fighting involving Israel and Hezbollah - the latter which hasn't signed on to a ceasefire :
Israel and Lebanon agreed to extend their ceasefire by three weeks following a meeting in the White House with top U.S. officials, President Donald Trump said Thursday.
“The Meeting went very well!” Trump said in a Truth Social post announcing the extension of the temporary truce.
“The United States is going to work with Lebanon in order to help it protect itself from Hezbollah,” Trump wrote, referring to the Iran-backed militia group.
“The Ceasefire between Israel and Lebanon will be extended by THREE WEEKS,” he wrote.
Meanwhile, that Iran timeline keeps getting more and more open-ended ...
Reuters: Israel Ambassador to the US Yechiel Leiter, US Ambassador to Lebanon Michel Issa, Lebanon Ambassador to the US Nada Hamadeh Moawad, US President Donald Trump, US Secretary of State Marco Rubio, and US Vice President JD Vance in the Oval Office Thursday
Trump: All the Time in the World
President Trump pushes back on claims he is anxious to end the war; says he has all the time in the world, Iran does not . However, consumer prices and at the pump could steadily rise and next fall's Congressional midterms might beg to differ. Here's some of what Trump said:
• Iran’s Navy is lying at the bottom of the Sea, their Air Force is demolished, their Anti Aircraft and Radar Weaponry is gone, their leaders are no longer with us, the Blockade is airtight and strong and, from there, it only gets worse — Time is not on their side!
• A Deal will only be made when it’s appropriate and good for the United States of America, our Allies and, in fact, the rest of the World.
Iran Says Just a Drill, & Denies Reports That Ghalibaf Quit
The earlier reports of 'air defenses active over Tehran' was the result of a drill, Iran says. And more importantly, Tehran is rejecting Israeli media reports of a big shake-up centered on Iran's Parliament Speaker.
'Air Defenses Active' Over Tehran Reports: Oil Spikes to 2-Week High
Nour News says cause still unclear, and this could be another drill, or false alarm, or a mere lone drone. Israel is denying it has launched an attack . But oil immediately reacted:
Parliament Speaker Resigns after IRGC Intervention
Israel's N12 News has issued a breaking headline claiming that Speaker of the Iranian Parliament Ghalibaf, who has appeared to run the day to day over the civilian government, has resigned from the country's negotiating team following the intervention of the IRGC. There have been rumors and unverified murmurings that he was even arrested.
Of course, given this comes via Israel - which is a party to the conflict - it should be taken with a grain of salt until verified; however Newsquawk notes it was enough to hit stocks and cause a spike in crude...
Meanwhile, Iranian social media accounts of Iran's two highest civilian officials have sought to push back against the current White House/MSM consensus that Washington is dealing with a fractured, divided Iranian nation when it comes to negotiations:
Iran Asserts US Blockade Breached; Could Build Nuke "If We Wanted To"
US CENTCOM on Thursday announced its forces have redirected 33 Iran-linked vessels in the Hormuz Strait since the start of the blockade; however, Iranian state media is citing the below public source tanker data (in a Telegram post) to proclaim that four Iranian oil tankers successfully crossed the US blockade and enter Iranian waters .
According to the latest statements out of top Iran officials, Tehran is demonstrating "strength" in the strait, and also the foreign ministry has insisted that while the country is still not seeking nuclear weapons, it possesses the capability to create a bomb if needed . Via Al Jazeera: "We are not seeking to manufacture a nuclear bomb from our stockpile of highly enriched uranium, and if we wanted to, we could."
Meanwhile Iran's foreign ministry has commented on the freeze on Pakistan talks, saying it has not decided to participate as of yet, but emphasized too that it is "not an option" to transfer out of the country its highly enriched uranium.
Iran Confirms First Hormuz Toll Payments to Central Bank
On Thursday Iran publicly announced for the first time that initial toll payments have been successfully transferred to the state-operated Central Bank of Iran (CBI) :
The Iranian authorities have received revenue from tolls for ships crossing the Strait of Hormuz for the first time, Parliament Deputy Speaker Hamid Reza Hajibabai said.
"The first revenue received from tolls in the Strait of Hormuz has been transferred to the Central Bank's account," the Fars news agency quoted him as saying.
A specific monetary amount was not given - but it can go up to $2 million per tanker, officials have indicated. This week has seen reports that several Iranian tankers, with transponders off, have made it past the US Navy's blockade - which the Pentagon has denied.
Latest From Trump: 'Doesn't Need a Deal'
Talks have stalled, and don't appear to be any closer - despite some optimistic Thursday early headlines - as the two sides are as far away as ever on the nuclear issue. This is perhaps why Trump has agreed the US 'doesn't need a deal' to get what it wants from Iran. The president shared a Washington Post article wherein the author argues that Iran is running out of [oil] storage, money, and time .
The below fresh Truth Social commentary also generally reflects recent reporting and the outlook of WaPo's Marc Thiessen , of Iraq War infamy as a former longtime speechwriter for Donald Rumsfeld and President George W. Bush :
It should be noted that this is some of Marc Thiessen's prior content and 'reporting'. He's the most hawkish of all the hawkish pundits, lately also appearing on Mark Levin. And...
Trump Orders Navy to Shoot & Kill
Despite a ceasefire still technically being on, President Trump has just ordered the US Navy to "shoot and kill" any small Iranian boat which poses a threat to the Strait of Hormuz, especially ones "putting mines in the waters" of the strait. This risks rapid escalation already amid tit-for-tat tanker seizures, and it means a shooting war could soon open up in the contested vital waterway.
Oil, and markets reacted immediately on the escalatory order from Washington:
Status of Stalled Pakistan Negotiations: 'Breakthrough' Soon?
US hours began with a somewhat optimistic headline, picked up by Reuters, which was strangely enough first issued by Chinese media. Iranian sources said preparations for Iran-US negotiations could produce a breakthrough "tonight or tomorrow," according to Chinese state broadcaster CCTV. However, this supposed 'breakthrough' speaks to merely getting to the table, which last weekend the sides failed to do in what was the planned, but canceled, second round.
Meanwhile a reported Pakistani proposal calls for reopening the Strait of Hormuz in exchange for a partial lifting of sanctions on Iran .
Pakistani officials blamed the US blockade, not internal divisions in Iran, for the stalled talks, while President Trump apparently having extended the ceasefire indefinitely, citing what he described as "fractured" leadership in Tehran.
Trump has extended the ceasefire indefinitely . From a Tuesday Truth Social Post : "Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal ."
Another US Boarding... in Indian Ocean
US forces conducted "a maritime interdiction and right-of-visit boarding of the sanctioned stateless vessel M/T Majestic X transporting oil from Iran in the Indian Ocean" overnight, the US Department of Defense said on X.
The statement said the vessel was operating within the area of responsibility of United States Indo-Pacific Command. "We will continue global maritime enforcement to disrupt illicit networks and interdict vessels providing material support to Iran, wherever they operate," it said. "International waters cannot be used as a shield by sanctioned actors. The Department of War will continue to deny illicit actors and their vessels freedom of maneuver in the maritime domain."
The interdiction video put out by US Central Command:
Latest Hormuz Intercepts
The Hormuz chokepoint standoff between Tehran and the US military has become the center of the nearly two-month conflict. This standoff marks the next phase following an extended ceasefire with Iran after a second round of peace talks was canceled in Pakistan earlier this week.
On Wednesday, White House Press Secretary Karoline Leavitt said President Donald Trump is allowing Iran more time to respond to US demands, but expects Tehran to present a "unified proposal."
"So, again, the president's offering them a little bit of flexibility because we want to see a unified proposal to the president's very strong proposal. And he's made his red lines very clear," Leavitt said.
Iran has stated that it will not resume negotiations with US officials while a US naval blockade on its ports remains in place, and the US military said it intercepted two Iranian oil supertankers that tried to evade the blockade .
This comes after Iranian forces seized two ships on Wednesday.
In response to Trump's ceasefire extension, Iran's state TV cited the foreign ministry as saying it is monitoring developments and that the armed forces are ready for any threat.
With Hormuz effectively shut this week, roughly a fifth of global oil and LNG flows remain highly disrupted as the energy shock ripples from the Middle East to Asia, Africa, Europe, and finally the West Coast of the US.
A new Department of War assessment cited by The Washington Post said it would take US forces six months to clear the maritime chokepoint of mines deployed by Iranian naval forces.
Other overnight news includes Pentagon spokesperson Sean Parnell announcing that Secretary John C. Phelan will be stepping down. "On behalf of the Secretary of War and Deputy Secretary of War, we are grateful to Secretary Phelan for his service to the Department and the United States Navy," Parnell said in a statement. "We wish him well in his future endeavors."
Latest overnight headlines (courtesy of Bloomberg):
Ceasefire Extension
US President Donald Trump extended a ceasefire with Iran indefinitely on Tuesday evening with no deadline for its expiry
Iran has said it will not resume negotiations while a US naval blockade on its port remains in place
Vice President JD Vance had been prepared to fly to Islamabad for peace talks, but Tehran says it has no plans to take part in negotiations imminently
Hormuz
Traffic through the Strait of Hormuz ground to a halt on Thursday after Iran fired on commercial ships and seized at least two vessels
Iran's Islamic Revolutionary Guard Corps seized the MSC Francesca and another ship identified as 'Epaminondes' on Wednesday
Iran has collected its first revenue from tolls imposed on the Strait of Hormuz, according to an Iranian lawmaker
Blockade
The US military intercepted two Iranian oil supertankers Hedy and Hero II that tried to evade its blockade earlier this week
At least two fully laden Iranian tankers sailed past a US blockade this week, ferrying roughly 9 million barrels of oil to market
Iranian gunboats fired on commercial ships in the Strait of Hormuz on Wednesday while two of its own oil supertankers tested the US blockade
Market Impacts
Energy prices are rising again due to the impasse and worsening tension over the Strait of Hormuz
Emirates is operating at 65% of capacity with about 13% of airports in its network still cut off
Honeywell's outlook assumes the conflict will last through the second quarter and decrease revenue by about $100 million to $150 million
Sweden may need to restrict energy use if supplies from the Middle East remain disrupted, with the government examining potential limits on fuel use
Chart of the Day (via UBS)
Commentary on energy markets from UBS analyst Catherine Gordon:
The UBS oil & gas team continues to argue the scale of disruption is underpriced in both oil and equities: the UBS base case had de-escalation in early April and gradual resumption of flows over 2Q26, keeping Brent at $100/bbl in 2Q26 and in the low to mid-$80s in 2H26, but this path requires actual improvements in flows very soon, rather than only a ceasefire.
Absent progress toward normalizing energy flows via the Strait of Hormuz within the next week or two, UBS warns the market risks a significant spike in oil and LNG prices, with longer disruption into May breaching recent highs of ~$120/bbl for front month and ~$150/bbl for Dated Brent.
Energy-dedicated investors continue to focus on barrels versus rhetoric: each day of stalemate implies a forfeiture of roughly 12–15mb/d of production. The market is now moving into an energy “air pocket,” which should drive a convergence between dated and forward oil prices, or between divergent price expectations in the physical and paper energy markets.
From a trading perspective, broader equities have remained resilient on “de-escalation” headlines, but the setup still feels very fragile, with technicals having done much of the work (CTAs slowing), positioning has caught up, and index-level valuations are pricing in relatively little disruption.
Brent crude futures are trading at $103 a barrel.
*This is the running blog of the US-Iran conflict for Thursday.
Tyler Durden
Thu, 04/23/2026 - 19:00 Close
Thu, 23 Apr 2026 22:40:00 +0000 CIA-Backed AQ-Linked Syrian Leader Watching Dance Performance To Missy Elliott Song Goes Viral
CIA-Backed AQ-Linked Syrian Leader Watching Dance Performance To Missy Elliott Song Goes Viral
CIA-Backed AQ-Linked Syrian Leader Watching Dance Performance To Missy Elliott Song Goes Viral
Via Middle East Eye
A video of interim Syrian President Ahmed al-Sharaa (previously, Abu Mohammad al-Julani) watching a dance performance to Missy Elliott's Work It has gone viral , sparking a mix of amusement and confusion on social media.
The performance took place on Monday at the recently reopened al-Feyhaa Sports Hall in Damascus, which Sharaa had inaugurated earlier that day before a Syria-Lebanon basketball match later that evening.
The game marks the first time Syria and Lebanon have played against each other since the fall of Bashar al-Assad in December 2024.
Ahead of the game, a group of dancers took to the stage, performing a dance routine to Work It, a song containing sexually explicit lyrics, by US rapper Missy "Misdemeanor" Elliott. Other performances reportedly included Rihanna's Rudeboy and Gwen Stefani's Hollaback Girl .
The Syrian leader is seen sitting in the audience with a deadpan expression on his face .
In light of Sharaa's background as a former militant and member of al-Qaeda , his attendance at a performance of a western song, featuring sexually explicit lyrics, stunned many social media users.
"The ISIS president of Syria Al-Sharaa vibing to @MissyElliott is not something I was ready to see this year" , one person commented on X.
After Sharaa’s Islamist group, Hay’at Tahrir al-Sham, seized Damascus on December 8, 2024, ousting longtime ruler Assad, Sharaa became Syria's interim president and rapidly transformed from a militant into a statesman.
"Never thought I'd mention al-Sharaa and Missy Elliot in the same sentence, but then here we are. Not touching the lyrics (I doubt Sharaa knows what Missy E is singing about)... but damn, what a “flip it and reverse it” moment!", another person posted on X, in response to the video.
Shortly after celebrating his victory in December 2024, Sharaa warmly began embracing world leaders he once eschewed and appeared in western media outlets, where he spoke of Syria's "diversity as a strength" and of "unifying the country".
He also promised to pursue former government personnel and loyalists implicated in war crimes, trimmed his beard and lost his turban and thobe for a suit and tie .
His attendance at the performance was seen by many online as a further sign of his departure from his past, albeit with raised eyebrows, given the swiftness of his transformation.
"Al Qaeda is dead and Missy Elliott is alive!" one user posted on X.
While Syria's transitional administration has initiated economic reforms, including public-sector employee reductions, tax system reforms, and the reopening of border crossings, several people have questioned the sustainability of Sharaa's transformation and pointed out that the Syrian leader has, to date, not publicly apologized for past actions.
"His transition from head chopper to Missy Elliott fan has to be one of the most remarkable transformation stories ever . Yet we have heard virtually zero explanation as to his change , nor any apologies for his past actions," a social media user commented on X.
* * *
VIDEO
Tyler Durden
Thu, 04/23/2026 - 18:40 Close
Thu, 23 Apr 2026 22:15:00 +0000 PIMCO Privately Lends Over $10 Billion To Dollar-Strapped Gulf States
PIMCO Privately Lends Over $10 Billion To Dollar-Strapped Gulf States
Just days after the UAE hinted at a growing dollar shortage in the Gulf nation by requesting swap lines with the Fed, Read more.....
PIMCO Privately Lends Over $10 Billion To Dollar-Strapped Gulf States
Just days after the UAE hinted at a growing dollar shortage in the Gulf nation by requesting swap lines with the Fed, Bloomberg reports that as Iran's struggling neighbors scramble to build cash buffers to deal with any potential economic fallout from the Iran war, one large buyer has stepped in: the world's largest bond manager, Pacific Investment Management Co.
Since the start of the Iran war, Pimco has lent more than $10 billion to state-backed and government borrowers in the Gulf via so-called private placements. The $2.27 trillion asset manager has been a significant buyer of privately placed bonds issued by the governments of Abu Dhabi, Qatar and Kuwait, as well as by Qatar National Bank. Pimco also participated alongside other investors in several placements that boosted the size of existing Abu Dhabi bonds by a combined $2.5 billion.
In total, regional borrowers raised $13.8 billion from Feb. 28 to April 23, in privately placed bonds denominated in hard currency , according to data compiled by Bloomberg, with Pimco accounting for a majority of that lending.
Private placements offer trade-offs for issuers rushing to get to market: they can be more expensive than public debt (and thus soffer higher returns for buyers such as Pimco). In return, sellers are able to borrow faster, with more privacy and greater flexibility on deal terms.
The coupon on Qatar’s privately placed bond was 4.8%. That was about 0.3% higher than implied by the yield curve for the country’s public traded bonds, according to Bloomberg calculations. The actual yield for bondholders depends on the price at which they bought it from the issuer, which wasn’t disclosed.
“Not all countries have the option of borrowing at reasonable interest rates at a time of geopolitical uncertainty. It’s notable that the three Gulf nations with the strongest balance sheets are the ones tapping the market,” said Ziad Daoud, chief emerging markets economist at Bloomberg Economics. “And they’re resorting to private borrowing instead of public issuance. The latter probably requires more disclosure and higher transparency.”
To Pimco, which has been invested heavily in emerging market bonds, the Gulf scramble to find buyers for its bonds has been a boon. The Newport Beach-based fund opened an office in Dubai last year, joining a rush of investment companies seeking to deepen their presence in a region flush with sovereign wealth. Pimco said this move built on over 20 years of managing assets for investors in the Middle East.
Pimco intends to hold the bonds over the long term, a Bloomberg source said. Earlier this month, Pimco - which is rapidly emerging as a lender of last resort - bought all of a $400 million bond issued by a Blue Owl Capital, in an important vote of confidence for the private credit specialist.
Gulf bond markets have been among the busiest globally in recent years, with regional borrowers selling about $50 billion of public debt in the first two months of this year. But those markets have effectively shut since the conflict began.
Before a ceasefire between the US and Iran was agreed in early April, Gulf Arab states contended with thousands of missiles and drones over several weeks, intercepting the vast majority. The effective closure of the Strait of Hormuz disrupted energy exports — a key source of government revenue — prompting the International Monetary Fund to cut growth forecasts across the region.
Over the weekend, the WSJ reported that the UAE informally inquired about a currency swap, if the economic and financial impact of the war worsens. The Emirati ambassador to Washington signaled the country had no need for external financing, and Bloomberg Economics’ Daoud described the inquiry as “a call for confidence, not a call for help.”
US Treasury Secretary Scott Bessent said Wednesday that many Persian Gulf allies had requested foreign exchange swap lines with the US, a day after President Donald Trump said an arrangement with the UAE is under consideration.
Tyler Durden
Thu, 04/23/2026 - 18:15 Close
Thu, 23 Apr 2026 21:50:00 +0000 Air Force Extends Use Of Iran Attack Plane A-10 'Warthog' To 2030
Air Force Extends Use Of Iran Attack Plane A-10 'Warthog' To 2030
Air Force Extends Use Of Iran Attack Plane A-10 'Warthog' To 2030
Authored by Victoria Friedman via The Epoch Times,
The U.S. Air Force said on April 20 that it would extend the life of the A-10 Thunderbolt II attack aircraft—commonly referred to as the “Warthog”—for another four years beyond its previously stated retirement deadline of 2026.
Air Force Secretary Troy ?Meink wrote on X that following consultation with Secretary of War Pete Hegseth, the Air Force “will EXTEND the A-10 ‘Warthog’ platform to 2030,” adding that this decision “preserves combat power as the Defense Industrial Base works to increase combat aircraft production.”
The A-10 is being deployed in operations in Iran, according to U.S. Central Command (CENTCOM), which said in a March 25 post on X that it had been used to strike Iranian naval vessels during Operation Epic Fury.
Chairman of the Joint Chiefs of Staff Gen. Dan Caine previously revealed at a March 19 Pentagon news conference that the craft was “now in the fight across the southern flank and is hunting and killing fast-attack watercraft in the Strait of Hormuz.”
According to an Air Force fact sheet, the Warthog was the first Air Force aircraft designed specifically to provide air support for ground forces. It can fly near combat areas for extended periods of time, and be used as an attack aircraft against ground targets, “including tanks and other armored vehicles.”
Former F-16 Thunderbird fighter pilot Ryan Bodenheimer, who runs the YouTube channel “Max Afterburner,” described A-10 in a March 15 video as “America’s flying tank.” He said it could be used to take down Shahed drones, as well as some of the fast-attack boats Iran still had in service at the time.
The Warthog is resilient, able to survive hits from armor-piercing and high-explosive projectiles up to 23mm, according to the Air Force.
However, they’re not invulnerable. On April 3, a pilot ejected from an A-10 after it was hit, with Iranian forces taking credit . The pilot parachuted to safety in Kuwait before the Warthog crashed.
Attempts to Retire the A-10
Some in the Air Force said that the A-10, which first flew in 1976, is too old, too slow, and too expensive to maintain, ?prompting calls for its retirement to free up funds to develop modern defense solutions such as hypersonic weapons. But those opposed to the retirement say that cutting the fleet before there is a suitable replacement could leave ground troops without adequate air support.
In 2021, then-President Joe Biden wanted to retire dozens of the aircraft to free up resources for modernization, but Sen. Mark Kelly (D-Ariz.)—in whose state many of the craft are based—pushed back and secured language in defense legislation that blocked retirements.
Kelly argued that the aircraft should not be taken out of commission until a replacement is available.
That same year, Air Force Lt. Gen. David Nahom told a House of Representatives hearing that if the number of A-10s is not reduced, the Air Force will face a shortage of mechanics for newer planes.
An A-10 Thunderbolt II undergoes pre-flight inspections at Davis-Monthan Air Force Base in Arizona on March 23, 2006. U.S. Air Force photo by Airman 1st Class Jesse Shipps
The Warthog has some enthusiastic defenders outside the Pentagon.
Defense analyst Mike Fredenburg wrote in a March 24 opinion piece in The Epoch Times: “Despite Air Force claims that the A-10 has no place on the modern battlefield, a claim it has been making for decades, the A-10 is once again using its unmatched versatility and loitering capability to destroy fast-attack watercraft, drones, and enemy positions.
“And for the role it is performing in Operation Epic Fury, the Warthog is vastly superior to any F-35, F-15, F-16, or B-2, or even the most advanced drone in the U.S. arsenal.”
Tyler Durden
Thu, 04/23/2026 - 17:50 Close
Thu, 23 Apr 2026 21:25:00 +0000 Texas Instruments Jumps Most Since Dot-Com On Upgraded Outlook; Goldman Sees Analog Recovery
Texas Instruments Jumps Most Since Dot-Com On Upgraded Outlook; Goldman Sees Analog Recovery
Shares of Texas Instruments jumped the most since the Dot-Com bubble era after the chipmaker issued a stronger-than-expec
Read more.....
Texas Instruments Jumps Most Since Dot-Com On Upgraded Outlook; Goldman Sees Analog Recovery
Shares of Texas Instruments jumped the most since the Dot-Com bubble era after the chipmaker issued a stronger-than-expected second-quarter forecast, signaling that demand is rebounding across industrial markets and data centers. Goldman analysts told clients the guidance suggests the "analog recovery is continuing ."
Revenue guidance of $5 billion to $5.4 billion and profit guidance of $1.77 to $2.05 a share both came in well above the Bloomberg Consensus estimate of estimate $4.85 billion, while first-quarter results also beat expectations.
Here's a snapshot of first-quarter results (courtesy of Bloomberg):
EPS $1.68 vs. $1.28 y/y, estimate $1.38
Revenue $4.83 billion, +19% y/y, estimate $4.53 billion
Analog revenue $3.92 billion, +22% y/y, estimate $3.68 billion
Embedded processing revenue $723 million, +12% y/y, estimate $683 million
Other revenue $178 million, -16% y/y, estimate $168.7 million
Operating profit $1.81 billion, +37% y/y, estimate $1.54 billion
Capital expenditure $676.0 million, -40% y/y, estimate $689.9 millio
Free cash flow $1.40 billion, estimate $1.2 billion
R&D expenses $510 million, -1.4% y/y, estimate $530.7 million
Cash and cash equivalents $3.55 billion, +28% y/y, estimate $3.25 billion
CEO Haviv Ilan told analysts on an earlier call that the resurgence in demand for industrial components was broad-based across all geographies and segments. He added that while the company's revenue remains below its previous peak, that's only spurring optimism that upside momentum will continue.
"There is a lot of room to grow," Ilan said. "I saw it across all sectors in industrial."
Institutional commentary from Goldman analyst James Schneider had some very positive takeaways from earnings:
Key stock takeaways : We expect the stock to trade higher following a quarter and guidance that came in well above the Street. We believe expectations were somewhat elevated given management's constructive commentary at recent conferences, and based on our conversations we believe most investors were positioned more constructively ahead of the quarter.
We see the strong recovery in the industrial end market as a particularly encouraging read-across for the sector. Although we continue to see a recovery across the analog sector (including for TI), we believe peers have managed their inventory levels far more proactively — and hence we believe gross margins are likely to recover much faster for peers (along with significant upward earnings revisions) than for TI.
We continue to have a preference for peers (including Microchip, NXP, and Analog Devices) who are likely to see greater upward earnings revisions in the near term, and we retain our relative Sell rating on TXN given the ongoing gross margin headwinds we expect in the coming quarters.
Schneider continued:
Read-through to our coverage : We expect a positive initial reaction for the analog group, with the most direct read-across for MCHP (Buy) and ADI (Buy) given their relatively high industrial exposures.
He raised Goldman's 12-month price target to $200 from the previous $175 and maintained a "sell" rating:
Here's what other institutional desks are saying:
Barclays (raised to equal-weight from underweight, PT to $250 from $175)
Upgrade reflects multiple quarters of growth in the company's Industrial business
While a lot seems baked into the stock, "Industrial exposure is the place to be in Analog today"
BofA Global Research (raised to buy from neutral, PT to $320 from $235)
Upgrades rating after solid 1Q earnings on "industrial strength, data center power content, and US-based manufacturing"
"Pricing has not been a factor, but could offer incremental good news in 2H which we conservatively model below seasonal trends"
Truist Securities (hold, PT $225)
The results show broad-based upside, including "strong cash flow performance"
"Capital allocation was constructive for equity"
The outlook is better than expected
Bloomberg Intelligence
"Texas Instruments' 1Q results and 2Q outlook significantly beat consensus, solidifying a robust and broad recovery across its industrial markets, likely aided by new data-center sales"
Evercore ISI (outperform, PT to $316 from $270)
The results were better than expected, while the outlook is "above seasonal"
Citi (buy, PT to $280 from $235)
The results are strong, while the outlook is "well above seasonal"
Bloomberg Consensus Breakdown:
Traders rewarded Texas Instruments for its upgraded earnings outlook with buying panic mania on Thursday.
Shares in late-afternoon trading were up nearly 20%, the largest intraday move since the 24% gain on October 19, 2000.
Shares are in bluesky breakout territory:
Professional subscribers can read Goldman's TI takeaway here at our new Marketdesk.ai portal
Tyler Durden
Thu, 04/23/2026 - 17:25 Close