"The Saudis are preparing for Iran’s return," said Mohamed Sadegh Memarian, who recently retired as the head of petroleum market analysis at Iran’s oil ministry, as they sharply cut the prices they charge for crude oil in Europe (to the biggest discount since Feb 2009). The move that will likely undercut Iran happens as sectarian tensions escalate between the rival Middle Eastern nations.

"The next twelve months will be an especially dangerous time for Americans who treasure our Second Amendment right to keep and bear arms," warns Rep. John Culberson (R-Texas), chairman of the Appropriations subcommittee that oversees the Justice Department (DoJ). As The Hill reports, his warning, in a letter to Attorney General Loretta Lynch, follows a threat to block President Obama's executive order on guns by defunding the DoJ.

Thousands took to the streets of  Baghdad  and Southern Shi’ite cities in Iraq on Monday in protest over the Saudi execution of Shiite cleric Sheikh Nimr al-Nimr. Demonstrators carrying portraits of Nimr rallied outside the Green Zone, a heavily fortified district that houses government departments and diplomatic representations, including the newly reopened Saudi embassy.Police guarding the zone pushed back a group that attempted to cross a line of barbed wire as they chanted “Damned, damned be Al Saud!,” referring to the Saudi ruling family.

U.S. neocons are livid over a report that U.S. intelligence spied on Israeli efforts to sabotage the Iran nuclear talks, though they are curiously silent on evidence that Israel spies on the U.S. Ex-CIA analyst Paul R. Pillar says it would be a mistake to let this pressure blind U.S. leaders on what Israel is up to.…

Following disappointing China PMI data and a collapse in US ISM Manufacturing imports data, the fact that The Baltic Dry Index has collapsed to fresh record lows will hardly be a surprise to many. However,as Deutsche Bank warns, a "perfect storm" is brewing in the dry bulk industry, as year-end improvements in rates failed to materialize, which indicates a looming surge in bankruptcies.

At 468, The Baltic Dry Index is now at a new record low...