The Merchant's News

The Merchant's News

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Why Didn't Oil Spike When 10 Refineries Burned?
The risk premium has migrated from crude to cracks, from upstream to downstream, and into one stock that is still mispricing
 • Giacomo Prandelli
Is the War Ending? Markets Just Snapped Back to Reality
On Friday, the market believed the war was over...48 hours later, US Marines were boarding an Iranian ship
 • Giacomo Prandelli
Buffett and China Are Making the Same Bet
Central banks are cornered. The smartest money in the world are moving in the same direction. Here's what they're seeing ....
 • Giacomo Prandelli
The Iran War Isn't just About Oil, It's About the Metal That Makes the Missiles
The Hormuz blockade, China's discounted oil and the tungsten chokepoint colliding at the Xi–Trump summit table
 • Giacomo Prandelli
Who Controls 20% of Global Oil When Hormuz Stays Closed?
This Is an Oil Siege
 • Giacomo Prandelli
The Ceasefire Fixed the War, Not the Gas
Iran Just Handed America's LNG Industry a 3–5 Year Contract
 • Giacomo Prandelli
The Relief Rally Is Real But What About The Reopening?
What the oil crash got right, what it got wrong and what it means for the positions we're sitting on right now
 • Giacomo Prandelli
What Happens After Trump’s Deadline?
The Comedown Has Begun
 • Giacomo Prandelli
When Will the Energy Shock Hit the Markets?
China’s coal system is the missing piece
 • Giacomo Prandelli
What Is the World Not Seeing in AI?
The global fight over chips, energy, and materials
 • Giacomo Prandelli

March 2026

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