***I need your support, friends.
Wed., Nov. 11, 2026
[4:10 PM ET…closing prices for stocks, 3:50ish for commodities and bonds]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri., Feb. 27…regular $2.98…diesel $3.75
Wed., Nov. 11…regular $3.94…diesel $6.13
‘Regular’ has fallen 8 cents in just the past three days and is poised to fall a bit more. But diesel is sticky.
And the thing is, President Trump is lying to the American people when for the umpteenth time he says the war will end shortly. I’ve been you telling, that’s far from the case unless we were to walk away, which would be the worst thing to do.
To wit:
In televised remarks today to Lebanon’s pro-Iranian Al Mayadeen TV, Iran’s security chief Mohsen Rezaei said Iran will not allow even a single particle of enriched nuclear material to leave the country and there will be consequences in the event of any new U.S. strikes on the Islamic Republic.
Rezaei said there are currently no negotiations taking place between Tehran and Washington.
“Any new U.S. attacks will also be met with targeting U.S. bases far away,” he said. Iran’s Supreme Leader has issued a directive that the country’s near-weapons-grade uranium should not be sent abroad, two senior Iranian sources said in May.
The IAEA (International Atomic Energy Agency) estimates that Iran had 440.9 kg of uranium enriched to 60% – a level far higher than needed for civilian use – when Israel and the U.S. attacked Iranian nuclear facilities in June 2025. How much of that has survived is unclear.
To beat a dead horse, there have been no inspectors from the IAEA on the ground in Iran in years!
There is NO AGREEMENT until inspectors are given full and unfettered access to Iran’s known, and suspected, sites…period!
Back to oil and gas, while heating oil futures (diesel) are near their lowest since early August, before rallying 10 cents today, Ukraine has intensified strikes on Russian energy infrastructure, including Kirishi, Russia’s second-largest refinery. The attacks threaten Russian gasoline and diesel production and raise questions over the reported agreement between Presidents Putin and Trump on Russian diesel exports to global markets. In the U.S., EIA data showed distillate inventories, including diesel and heating oil, fell by 3.6 million barrels in the week ended October 30, leaving stocks 13% below the five-year average and highlighting continued supply tightness.
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Stocks rallied a bit, helped by the CoreWeave earnings and its impact on the AI trade writ large. Apple hit an all-time high.
Bond market was closed for Veterans Day.
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Dow Jones +254…+0.5% [52486]
S&P 500 +98…+1.3% [7619]
Nasdaq +400…+1.6% [25466]
Oil (WTI) $86.35…Brent $92.50
Gold $3985
Silver $51.75
Bitcoin: $74,600 [4:00 PM ET]
U.S. 2-yr. 4.74%.
U.S. 10-yr. 5.00%
Japanese 10-yr. 2.78%…unch…
Back Thurs.
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Brian Trumbore