Markets Can’t Price the New Bottlenecks
The resource cold war has shifted power from markets to states as bottlenecks in energy and minerals drive inflation, industrial strategy, and defense planning.
35 min read
Ben Carter
Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
Trump warns Iran as oil climbs and Treasury yields reach one-year high
Rising energy costs pushed annual inflation to 3.8% in April, driving the 10-year Treasury yield to its highest level in nearly a year.
2 min read
Oil prices climb over 1% after Trump issues warning to Iran
President Trump warned Iran to act quickly as a U.S. blockade of Iranian ports and the closure of the Strait of Hormuz continue to stall regional diplomacy.
1 min read
Oil prices top $110 as Trump warns Iran of total destruction
President Trump warned Iran to "get moving, FAST" or face destruction, pushing Brent crude futures up to $110.72 per barrel amid supply disruption fears.
1 min read
China agrees to buy $17 billion in US farm products annually
China committed to purchasing at least $17 billion in American agricultural products annually through 2028 following a summit in Beijing.
1 min read
Oil supply gap pushes 10 year Treasury yield up 24 basis points
The benchmark 10-year Treasury yield rose nearly 24 basis points to 4.6% this week as oil prices remained above $100 per barrel.
1 min read
Linked Polymarket accounts earn $2.4 million betting on Iran military milestones
Nine linked Polymarket accounts achieved a 98% win rate on U.S. military milestones in Iran, generating over $2.4 million in profit.
2 min read
Markets Can’t Reprice Resource Security
Markets no longer clear energy and critical minerals because states now control the refining chokepoints that set prices, supply, and industrial leverage.
36 min read
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1 min read
Oil prices jump after Trump warns Iran that clock is ticking
Brent crude futures rose 1.34% to $110.72 per barrel after President Trump issued a warning to Iran on Truth Social.
1 min read
Global oil inventories approach record lows as Strait of Hormuz remains closed
JPMorgan analysts report that only 800 million barrels of global oil storage remain available before the world's pipeline and tank networks risk failure.
2 min read
Strait of Hormuz closure cuts global oil inventories by 200 million barrels
Tanker traffic through the Strait of Hormuz dropped from 1,500 ships per month to 180 in April, removing 12% of global oil consumption from the market.
2 min read