Europe

One month ago, just as Cushing storage was rapidly approaching its operational capacity, we warned that Cushing (and increasingly all parts of PADD 2) is denying storage requests. We also said that overall PADD 2 inventories had risen to a new record high 155 million barrels...

... hinting that it was just a matter of time before excess production would be shifted to other regions, most notably the Gulf Coast, or PADD 3.

In February, Cripsin Odey's quite bearish $11 billion Odey Asset Management had a tumultuous month: it was down -10.6% as the overall market levitated relentlessly on low volume hopes of central bank stimulus and intervention ever since the February 11 lows, leading to the biggest short squeeze in history and the most overbought market ever.

Submitted by Soeren Kern via The Gatestone Institute,

• Growing numbers of Belgian Muslims live in isolated ghettos where poverty, unemployment and crime are rampant. In Molenbeek, the unemployment rate hovers at around 40%. Radical imams aggressively canvass in search of shiftless youths to wage jihad against the West.

The horrific events in Brussels are still resonating across Europe today. And, as Bloomberg's Mark Cudmore explains, despite what many analysts are saying, the real impact is likely to be more widespread than the very intense emotional anguish.

Mohamed El-Erian -- a regular Bloomberg columnist -- has been one of the most high-profile commentators to express the view that the “macroeconomic effects tend to be limited, and they fade,” in reference to acts of terrorism.

Sadly, that may not be the case this time.

Back in December, Pakistani-born Tashfeen Malik and her husband Syed Farook stormed a holiday party at a social services center in San Bernardino and killed 14 people with assault rifles. “Radical Islamic terrorism” had once again manifested itself on American soil.

In the wake of the shootings, Donald Trump - who at that point was still thought to be a long shot for the GOP presidential nomination - took his biggest political risk yet. He called for a complete ban on Muslims entering the country until lawmakers “can figure out what’s going on.”