- Brent crude fell below $90, trading around $88‑$89 per barrel
- U.S. WTI crude dropped to roughly $85‑$87 per barrel
- President Trump said a peace agreement with Iran is close, easing Middle‑East tensions
- Fuel tax hikes affect six states, adding to energy inflation pressures
- Traders priced in the possibility of the Strait of Hormuz reopening
2026-06-13
Energy/Oil 4
- UK to ban imports of diesel and jet fuel refined from Russian crude by Jan 1, 2027
- Sanctions aim to close loophole allowing Russian oil products into UK market
- Move builds on May sanctions prohibiting refined oil imports from Russian crude
- Jamaica currently imports all its fuel, spending $1.5‑2 billion a year on energy imports.
- Caribbean oil exploration has surged after successful discoveries in Guyana and Suriname.
- The International Energy Agency urges an end to new oil exploration, highlighting climate risks.
- Jamaica's potential offshore drilling could reduce import costs but faces environmental scrutiny.
- Household solar systems see surge in interest due to rising energy bills
- Battery installations gain popularity as prices decrease and awareness grows
- Australia leads the way in adopting home battery technology
Macro/Economy 1
- Borrowers can lower monthly payments by reducing pretax income through retirement contributions or health savings accounts
- Dependent claims can reduce monthly payments by $50 per dependent
- RAP leads to student loan forgiveness after 30 years, compared to 20-25 years on other IDR plans
Geopolitics 2
- Russia, China and Iran are expanding a convenience-driven partnership aimed at countering Western sanctions.
- US experts say the alliance is already delivering tangible strategic benefits, particularly for Iran's isolated regime.
- The cooperation was highlighted at a June 10 national security briefing organized by the Independent Women's Forum.
- UAE Ministry of Foreign Affairs says reports of releasing frozen Iranian funds are "entirely false".
- Reuters cited sources claiming the UAE agreed to unlock $10‑$20 billion, with a $3 billion tranche already delivered.
- No Iranian attacks on UAE in the past week, while neighboring Kuwait and Bahrain have been hit.
Markets 2
- SpaceX's market cap reached $2.1 trillion after its IPO, making it the sixth most-valuable U.S. company.
- The company raised $75 billion, triple the size of Alibaba's 2014 IPO.
- SpaceX's valuation is 112 times last year's revenue, despite a $4.9 billion loss.
- SpaceX's public debut is just the beginning, with key index additions to come this summer
- Nasdaq 100 rebalances on July 6 to reflect SpaceX's IPO shares
- S&P 500 Index Committee delays SpaceX's inclusion, making other index events more significant
Other 3
- Lilly’s retatrutide (triple agonist) achieved 28% avg weight loss in Phase 3, outperforming current GLP-1s
- Novo’s Wegovy oral pill prescriptions hit 3M in 5 months, signaling shift toward oral GLP-1 options
- Pfizer and Amgen testing monthly/quarterly injectables to improve convenience vs. weekly GLP-1s
- Pipeline includes amylin-based drugs (e.g., Zealand’s petrelintide) targeting fewer side effects than GLP-1s
- WHO estimates 890M obese globally; pricing and insurance coverage remain key market uncertainties
- Rivian CEO RJ Scaringe's new robotics company, Mind Robotics, aims to create humanoid robots for industrial use.
- The company has raised over $1 billion and expects to reveal its first product within a year.
- Rivian will be a large minority shareholder and launch customer for Mind Robotics.
- Anthropic halted all access to Fable 5 and Mythos 5 for foreign nationals after receiving a U.S. export control directive at 5:21 p.m. ET.
- The shutdown affects only the two models; Anthropic's other AI models remain available to customers.
- The directive cites national security concerns and follows a prior DoD label of Anthropic as a supply‑chain risk.
- Anthropic had previously limited the models to a select group of companies under its Project Glasswing initiative.