Mike McGlone expects lower energy prices: Trump needs lower prices by midterms, natural gas is leading down, and crude oil tends to revert to a 'low price cure' near $50/barrel by year-end. Gasoline should follow futures lower toward $3.80 and potentially below $3. The U.S. no longer needs the SPR due to domestic surplus.
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Bloomberg
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Financial Media
Mike McGlone 7.0
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Mike McGlone 7.0
6/17/2026 12:10:03 AM
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McGlone notes midterm election years typically see stocks go down, adding pressure on crude — implies broader equity weakness.
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Expects crude to fall toward $50/barrel by year-end.
Michael Oren states the reported U.S.-Iran MOU does not address Israel's core war goals: preventing Iran's nuclear weapon, removing enriched uranium, stopping ballistic missiles, or ending support for proxies. Israel was not consulted, is not bound, and will continue self-defense even at risk of friction with the U.S. He sees a somber mood in Israel as hopes for a transformed region have dissipated.
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Former Israeli Ambassador to the United States
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Michael Oren 7.5
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Michael Oren 7.5
6/17/2026 12:10:03 AM
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Oren's somber outlook and geopolitical uncertainty weigh on tech-heavy Nasdaq. Show reports Nasdaq 100 down 1.4%.
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Oren notes the MOU includes reopening Strait of Hormuz, which would increase oil supply and lower prices. The broader context of the show shows WTI down 6% on the day.
Rep. McClellan says she cannot support the MOU without seeing details, noting contradictions between U.S. and Iranian statements (e.g., $300B payment). She questions whether the deal includes UN inspections and whether it puts the Middle East on a path to peace. On FISA 702, she wants reforms to close loopholes on spying on Americans before extending, but finds Jay Clayton less objectionable than Bill Pulte as DNI.
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U.S. House of Representatives
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Government Agency
Jennifer McClellan 5.0
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Jennifer McClellan 5.0
6/17/2026 12:10:03 AM
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McClellan notes Iran has proven it can disrupt oil prices by closing the Strait, but the MOU aims to reopen it — implying downward pressure on oil if deal holds.