🔈 Saudi Aramco Warns of Critical Fuel Shortage

Saudi Aramco, the world's largest oil company, warns that fuel supplies are approaching a "critically low level".

According to Bloomberg, there are two weeks left before demand rationing for petroleum products begins.

The world is heading toward the most severe energy crisis in modern history, with a potential oil shortage caused by the war in Iran possibly triggering rationing within weeks.

Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners, says this is not a matter of months or quarters. He expects demand rationing to be more severe in the next couple of weeks than during COVID.

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⚡️ JUST IN: eBay rejects GameStop’s $56B takeover offer as “neither credible nor attractive”.

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⚡️ JUST IN: Iran has warned it could enrich uranium to 90% purity if attacked again by the US or Israel.

90% enrichment is widely considered weapons-grade uranium.

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⚡️ JUST IN: U.S. CPI rose 3.8% year-over-year, above the estimate of 3.7%, while core CPI increased 2.8%, beating the 2.7% estimate.

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Trump will meet Xi in Beijing on Thursday at 10:15am, attend a state banquet at 6pm, and hold a bilateral lunch on Friday, the White House says.

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Even Trump’s son doubted his father would start a war with Iran.

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⚡️ JUST IN: Nvidia $NVDA hits record high as Trump confirms Jensen Huang is on Air Force One to China.

Nvidia's market value reaches $5.4 trillion following the confirmation.

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US Secretary of State Marco Rubio traveled to China wearing the same suit as Maduro when he was captured by the US.

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China has unveiled its first piloted mech transformer costing $650,000. The fully functional civilian robot weighs about 500 kg, can transform, and is controlled by a pilot.

The developing company urges buyers to use the mech for "friendly" purposes.

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⚡️ JUST IN: Trump lands in China ahead of talks with Xi.

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⚡️ JUST IN: April PPI Inflation surges to 6.0%, well above expectations of 4.9% and the highest since January 2023.

Core PPI Inflation rose to 5.2%, exceeding forecasts of 4.3%.

Both CPI and PPI Inflation have reached their highest levels in over three years, increasing the odds of rate hikes.

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⚡️ JUST IN: Trump and China’s President Xi are expected to discuss tariff cuts on $30 billion of imports at the US-China summit this week.

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NVIDIA's market capitalization has exceeded $5.5 trillion.

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500,000 people paid nearly $60 million for a pre-order of Trump's phone, but none have been delivered. Nearly a year ago, Trump announced a gold phone, but no units have shipped and the launch date was removed from the site.

The updated Trump Mobile terms now state that the deposit does not guarantee the phone will ever be made or delivered.

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⚡️ JUST IN: U.S. officials say Chinese firms are planning secret arms sales to Iran.

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⚡️ JUST IN: China's Xi warns Trump of possible clashes over Taiwan if situation is mishandled

China's President Xi has warned Trump of a "collision or even clashes" if the Taiwan situation is "mishandled." China seeks clarification from the US that Washington does not support Taiwanese independence.

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