Leveraged Tech & Energy Trader. Geopolitics, US Politics, Nutrition, Fitness, and Macro Analysis. Avid Skier & Outdoorsman. Texas Ex. 🇺🇸🇨🇦
Salt Lake City, UT & SF, CA
Joined June 2009
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Deep Barot retweeted
SUMMARY OF FED CHAIR WARSH'S STATEMENT:
1. Fed to eliminate 1 interest rate-setting vote beginning in Fall 2027
2. Fed expects to hold just 6 policy-setting meetings in 2028, down from 8 currently
3. Overwhelming consensus is that the "monetary medicine is starting to work"
4. Warsh says he is "unwilling and unable" to call financial conditions tight
5. Warsh says that inflation remains elevated in the US
6. The Fed awaits more information in determining policy path
The Fed is now in "wait and see" mode.
Deep Barot retweeted
Federal Reserve issues #FOMC statement: federalreserve.gov/newsevent…
Deep Barot retweeted
JUST IN: 🇷🇺 President Putin says Russia is proud to be developing its own competitor to Elon Musk's Starlink satellite internet.
Deep Barot retweeted
🇮🇳 India is about to become one of the world’s diesel pumps.
State refiners will add at least 15m tonnes a year of diesel capacity, mostly from 2027, Oil Minister Hardeep Singh Puri said.
That’s about 300k b/d, my math.
Who’s adding it?
-Indian Oil, up to 9m tonnes from 2027
-Hindustan Petroleum, about 4m from its new Rajasthan refinery
-Numaligarh, up to about 3m
-Bharat Petroleum, 1.5m from 2028
India already makes more diesel than it burns.
In the first half of the fiscal year it produced 59m tonnes and used about 46m.
It overtook Russia this year as the world’s No. 2 diesel exporter, Kpler data shows.
Europe is moving the other way.
It’s losing at least 250k b/d of refining capacity a year.
Diesel is $6.28 a gallon in the US, a record gap over gasoline.
Relief arrives in 2027, and it comes from India, not Europe.
Every month of delay keeps diesel margins high.
Russia just lost its price edge in India.
Some Iraqi crude is selling at more than $25 a barrel below Dubai before shipping, traders tell Bloomberg.
Russian barrels are being offered at about a $2 premium.
Russia’s share of India’s crude imports fell to about 35% in September, down from 56% in July, Kpler says.
The killer is freight.
A Baltic cargo spends weeks at sea.
A Basra cargo spends days.
With tanker rates this high, every extra day on the water eats the discount.
“Due to the increase in freight, we are not getting good offers from Russia,” Bharat Petroleum’s CFO said.
The Gulf sellers smell it.
Aramco sold prompt Khafji at up to $10 under Dubai.
Middle East flows are back near pre-war levels and the producers want their market share back.
themerchantsnews.substack.co…
Deep Barot retweeted
🚨 Russia and Iran plan to build a total of 8 nuclear power plants on Iranian territory.
Deep Barot retweeted
BREAKING: President Trump says that Venezuela could become the 51st state of the United States of America.
Trump also declares US intervention in Venezuela as the "greatest oil victory in history."
Hawaii was the last state added to the US in August 1959.
Deep Barot retweeted
JUST IN: 🇷🇺🇮🇷 Russian President Putin meets with Iranian President Pezeshkian in Moscow.
Deep Barot retweeted
Russia hit a bridge in Kyiv.
Before the war only 2% of Ukraine’s bridges were in good shape.
Bridges in Ukraine were built by the USSR 60 years ago. Never properly maintained. Money stolen for 35 years.
Kyiv’s key bridges - Paton and Metro - were OFFICIALLY NON-FUNCTIONAL before the war.
Banned from use, yet cars still drive on them. Repair money stolen.
Before the war I talked to a man who designed bridges. He told me that 95% of Ukrainian bridges already outlived their service life long ago. On paper politicians keep extending it, but they do nothing. At some point bridges will all start collapsing.
Now Zelensky and Klychko will blame the strikes. Lie.
USSR built bridges. Politicians stole the repair money for 35 years.
Devastation was already here before the war.
Deep Barot retweeted
RFK: "There's five hundred million Arabs in the world. And yet they don't produce science. They don't win the Novel Prize. They don't win the Fields Prize. They don't win the Wolf Prize. They don't produce literature."
Deep Barot retweeted
JUST IN: 🇧🇷 Flávio Bolsonaro says he has been banned from leaving Brazil and ordered to surrender his passports following his election defeat.
Deep Barot retweeted
Flávio Bolsonaro:
I was ordered to surrender my passports.
I am prohibited from leaving the country.
Deep Barot retweeted
Every Armenian opposition party leader is either in prison or under house arrest.
To fix this minor PR issue (and well aware the current faux opposition parties have expired) Pashinyan offers to make space for a fresh new cohort of pocket opponents.
#democracy
#Pashinyan reiterates that #Armenia needs to "eradicate the four-headed war party".
He notes the need to form a "state-centered, young, intellectual, and honest" opposition...
Deep Barot retweeted
BREAKING: Saudi Arabia offers Yemen's Houthis $1 billion through Tehran to halt their attacks as part of a ceasefire, with Defence Minister Prince Khalid bin Salman flying to Iran to negotiate it and even bringing the money with him aboard the C-130 aircraft he arrived on, per diplomatic Gulf sources to Israel Hayom.
Iran offered to mediate between Saudi Arabia and the Houthis. It was represented by President Pezeshkian, SNSC chief Mohsen Rezaei and senior IRGC officials. Turkish intelligence chief Ibrahim Kalin and Pakistan's army chief Asim Munir were also taking part.
This is one of the biggest concessions from the Saudis yet.
Deep Barot retweeted
Fox News stars Sean Hannity, Ainsley Earhardt tie the knot at church where they got engaged trib.al/XkT3fAL
Deep Barot retweeted
BREAKING: Microsoft, $MSFT, is offering buyouts to 60,000 workers as part of the company’s efforts to cut costs amid AI adoption, per Bloomberg.
Personnel on select teams in the US, Canada, India, and the UK at a vice president level and below will be eligible.
This reflects ~27% of Microsoft's total workforce.