MMN Editor

Acting Attorney General Todd Blanche’s chances of confirmation were derailed on Wednesday, less than 24 hours before a pivotal vote in the Senate.It’s another chapter in the troubled saga that has followed Blanche since being tapped to replace former Attorney General Pam Bondi, and one that boils down to issues among Blanche, the Department of Justice (DOJ) and two key Republicans who control his fate in the Senate Judiciary Committee.Sens. John Cornyn, R-Texas, and Thom Tillis, R-N.C., are demanding that the DOJ provide explicit, written proposals to modify the settlement deal reached between the Internal Revenue Service (IRS) and President Donald Trump and his family earlier this year.TRUMP AG PICK TODD BLANCHE FACES SENATE TEST IN FIRST MAJOR CONFIRMATION FIGHT SINCE GRAHAM’S DEATHSenate Majority Leader John Thune, R-S.D., had hoped that a deal could be struck and allow for the confirmation to move forward, eying next week as the major floor vote to formally confirm Blanche as Bondi’s replacement.”I think that that’s an issue between, right now, the White House and Senators Cornyn and Tillis,” Thune said. “But, yeah, I would encourage them to sit down, which I think they are, and try to come to a resolution there so that the markup can continue tomorrow, and we can get Todd Blanche ready for the floor.”The DOJ had until 4 p.m. on Wednesday to get the lawmakers what they wanted, but the agency fell short, and Blanche’s bumpy carriage ride to confirmation turned into a pumpkin.Without a guarantee that Cornyn or Tillis would vote to confirm Blanche, Senate Judiciary Committee Chair Chuck Grassley, R-Iowa, opted to postpone the hearing until a later date.Their targets are the now-defunct, nearly $2 billion anti-weaponization fund and the president’s audit immunity. Republicans and Democrats alike railed against the fund, particularly over concerns that the funding would go to people involved in the Jan. 6, 2021, riots on Capitol Hill. Trump’s audit immunity has similarly ruffled feathers. Blanche, in his announcement of the settlement deal earlier this year, outlined that as part of the agreement, the IRS would not be allowed to audit Trump, his family or affiliated companies.DEMS REJECT TRUMP’S TOP SPY PICK AFTER DEMANDING REPLACEMENT, LEAVING COUNTER-TERROR TOOL IN AIRCornyn has proven the most resistant until his demands are met.  He’s used his newfound freedom to extract concessions from the Trump administration in recent weeks.His push for an explicit end to the audit language in the settlement agreement is another such example. The longtime lawmaker, who will exit the Senate at the end of this year after being ousted by the Trump-backed Ken Paxton, was set to meet Blanche Wednesday morning.But the confab was called off, and Blanche continued making the rounds in the Senate throughout the day, capping off his visit to the Capitol with Senate Majority Whip John Barrasso, R-Wyo. He declined to comment to reporters on his way out. Cornyn said that it was “made clear from the outset that we expected some written proposals to modify the release that was signed in the tax dispute with President Trump and his organization.””We need to conform the actual document to what Todd Blanche testified under oath as the President’s Acting Attorney General,” Cornyn said. “We’ve had two meetings scheduled that have now been canceled because they have not been responsive in providing those written documents.”TRUMP AG PICK HANGS BY A THREAD AS KEY GOP SENATORS REFUSE TO COMMITTrump, when asked about the holdup in the Senate for Blanche, portrayed a president at an arm’s length from the situation, and said that he heard his attorney general pick was “going through quite nicely.” “Well, all I can say is Todd Blanche is outstanding. And I thought he’s — I thought it was pretty routine because he’s so good,” Trump told reporters in the Oval Office. “You just wouldn’t find a better person. So I don’t know, maybe John Cornyn is upset with me because I didn’t endorse him. I don’t know what it is, but I haven’t heard that there’s a problem.”Meanwhile, Tillis made clear that he doesn’t “have a beef with DOJ or with Blanche.” “They’re trying to get it done, but still gotta get it done,” Tillis said. He also noted that the number of hurdles that getting those kinds of written proposals through was more extensive than meets the eye. For example, Tillis said that the actual settlement likely was signed by the president’s lawyer and not Trump himself. “So there’s, you know, there’s a circle of people that have to go through the loop,” he said. “And I get that, but, you know, if we can get it done or possibly get him reported out on Tuesday, if they schedule a markup, I would support that if we get the language.”

Former BYU Cougars football player Curtis Brown and his family, including his wife Kim, are grieving after a drowning accident led to the death of their 2-year-old son, Haze.Haze drowned in the pool at the Brown family home in Clovis, California, July 26, police told the New York Post.A GoFundMe page was started by Chandler Pearson, a family friend who wrote on the site that the Brown family is dealing with an “unimaginable loss.”CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM”Kim and Curtis recently lost their miracle baby, Haze, in a tragic drowning accident. No words can ease the heartbreak they are facing as they grieve the loss of their precious son,” Pearson wrote on the GoFundMe page.”Many of you know and love Kim, Curtis, and their family, and have reached out asking how you can support them during this incredibly difficult time. One meaningful way to help is by contributing to this GoFundMe campaign. Your donation will help ease the financial burden of funeral expenses and other unexpected costs, allowing the Brown family to focus on healing and being together.”Every act of kindness, no matter the size, reminds them that they are surrounded by a community that loves them deeply. Thank you for your generosity, compassion, and support during this heartbreaking time.”OLE MISS FILES LAWSUITS AGAINST COLLEGE FOOTBALL PLAYERS WHO LEFT FOR LANE KIFFIN’S LSUThe New York Post added that a family member found Haze unresponsive in the pool and immediately called 911, and police, EMTs and firefighters responded.CPR was attempted on the toddler, but it was unsuccessful. Haze was taken to a nearby hospital and was later declared dead.The GoFundMe page had received $77,375 in donations at the time of writing.”It’s an extremely unfortunate situation,” Clovis Police Department spokesman Ty Wood told the New York Post. “Adults should never let children swim unsupervised and should always learn CPR and keep rescue equipment nearby.”Brown and his wife are the parents of five, including son Trey and triplets Cruze, Julie and Kash.Brown played five seasons with the Cougars from 2002 to 2006, including a redshirt sophomore campaign in 2003. He came into his own in 2004, racking up 789 yards on 158 carries with six touchdowns and cementing himself as someone to lead the way for BYU the next season.Brown did just that, leading the Mountain West Conference with 14 rushing touchdowns, while registering 1,123 yards on 210 carries. He also had 454 receiving yards on 53 receptions with two more scores through the air.In his final year, Brown had 1,010 yards on the ground and 566 through the air with 10 total touchdowns over 13 games.Brown finished his BYU career with 3,241 rushing yards and 1,309 receiving yards with 36 touchdowns over 52 games. He owned the rushing record in school history before Harvey Unga broke it in 2009.Brown looked to the NFL as his next step in 2007, signing with the Cincinnati Bengals as an undrafted free agent. However, after four appearances during the preseason, the Bengals released him before Week 1.BYU didn’t immediately respond to a request for comment by Fox News Digital.

President Trump took a swipe at John Cornyn as the RINO Senator refuses to vote to confirm Todd Blanche as Attorney General.
Senator John Cornyn is continuing his anti-Trump crusade after losing the Texas Senate primary to Ken Paxton earlier this year.
The Senate Judiciary Committee is voting on whether to advance Acting Attorney General Todd Blanche’s nomination on Thursday.
Tillis and Cornyn are still holdouts and continue to make demands from the DOJ on its language related to restricting Trump’s IRS agreement.
On Tuesday, after whining about the push to cancel August recess over the SAVE America Act, Cornyn went after President Trump’s nomination for Attorney General, Todd Blanche.
“There is no “deal” on Blanche nom. They know what they have to do,” Cornyn said in a post on X.

Fake news alert: there is no “deal” on Blanche nom. They know what they have to do.
— Senator John Cornyn (@JohnCornyn) July 28, 2026

A reporter asked President Trump about Cornyn’s refusal to vote for Blanche.
“I don’t know what it is, but I haven’t heard that there’s a problem. I’ve heard he’s going through quite nicely,” Trump told reporters in the Oval Office.
“All I can say is Todd Blanche is outstanding, and I thought it was pretty routine because he’s good. You just wouldn’t find a better person,” Trump said.
“Maybe John Cornyn’s upset with me because I didn’t endorse him,” Trump said.
WATCH:

.@POTUS: “All I can say is @DAGToddBlanche is outstanding… maybe John Cornyn’s upset with me because I didn’t endorse him, I don’t know what it is.” https://t.co/c1JnHz00Sy pic.twitter.com/xMXB3UK1fr
— Rapid Response 47 (@RapidResponse47) July 29, 2026

CNN’s Manu Raju caught up with Cornyn later and asked him about the DOJ’s effort to resolve his concerns about the $1.8 billion weaponization fund.
“You would acknowledge though, not having to run for reelection anymore has freed you up! To be more independent from the president! Can you acknowledge that?” Manu Raju asked Cornyn.
“Have you noticed?” Cornyn quipped.
WATCH:

New — Sen. Cornyn makes clear DOJ still has NOT resolved his concerns about $1.8B weaponization fund and audits of presidents. Still not ready to support Todd Blanche ahead of key committee vote tomorrow.
Feeling more independent from Trump after losing primary? “Have you… pic.twitter.com/4h7HMUFWux
— Manu Raju (@mkraju) July 29, 2026

During the primary election against Ken Paxton, Cornyn lied to the voters about his support for President Trump.
After he lost the primary, Cornyn took the mask off and began attacking President Trump.
Later Wednesday, Fox News reported that the DOJ transmitted a new response to Cornyn and Tillis that address their concerns.

The post Trump Takes a Swipe at Cornyn as RINO Senator Refuses to Vote to Confirm Blanche – Cornyn Responds (VIDEO) appeared first on The Gateway Pundit.

Tesla CEO Elon Musk believes that the future is robotic, and he is willing to spend $25 billion of his company’s money this year to prove it. Musk already says Tesla (TSLA) is much more than a car company, so when the company raised its 2026 capital expenditure forecast to over $25 billion for mostly non-car-related development, most analysts didn’t blink (though some did).A significant portion of that money is going to retooling the company’s car production capacity to make room for the production of 1 million Optimus humanoid robots annually.But as is the case with its electric vehicles, Chinese competition represents a big obstacle to Tesla’s long-term plans for humanoid robots. However, new rules issued by the Federal Communications Commission offer Tesla a reprieve from some of its biggest competitors. FCC adds robots to ‘covered list’This week, the FCC updated its “covered list” to include two new categories: advanced robotic devices and connected power inverters produced in foreign countries. The agency says it made the decision following an executive branch meeting at the White House that featured national security advisers who determined that advanced robots and power inverters built in foreign countries “pose unacceptable risks to the national security of the U.S. or the safety and security of U.S. persons,” according to a press release. The robot ban includes humanoid robots like the one Tesla makes as well as quadruped robots (robot dogs).Along with the inverters, “these devices could create supply chain vulnerabilities that could disrupt U.S. economic and national security and could create a cybersecurity risk,” against critical U.S. infrastructure. “I welcome these Executive Branch national security determinations, and I am pleased that the FCC has now added foreign-produced advanced robotics and power inverters to the FCC’s Covered List,” said FCC chairman Brendan Carr.

Pool / Getty Images

Why do foreign robots present national security risks?According to the FCC, advanced robotic systems with networked capabilities create “extensive vulnerabilities and vectors for attacks” that could be used to manipulate their physical operation.Not only that, but the data collected by the robots is also vulnerable to being used by bad actors to spy on Americans. “Relying on foreign-produced advanced robotic devices presents unacceptable supply chain and cybersecurity vulnerabilities . . . Advanced robotic devices collect data that could be leveraged by malign actors to surveil Americans, enhance the capabilities of foreign intelligence services, or to remotely commandeer the robots,” the FCC says. What are the next steps?If you have already purchased a foreign-made inverter or robot, then your device is grandfathered in and legal. However, new foreign-produced advanced robotic devices and power inverters are “generally prohibited from receiving FCC authorization to be imported, marketed, or sold in the U.S.”The new rules do not prohibit the sale, import or use of any existing models that the FCC previously authorized. Foreign advanced robotics manufacturers that receive a “conditional approval” from the Department of Defense or the Department of Homeland Security can also continue to receive FCC equipment authorizations. You can view the full list of companies with conditional approval; many of them appear to be drone manufacturers. What does this mean for Tesla?Tesla CEO Elon Musk has been extremely optimistic about Optimus, calling it perhaps “the most important product” in Tesla’s history; there seems to be one major problem with his grand vision for the future: not many people are looking to buy a $30,000 humanoid robot.Lack of demand led Tesla to mothball the Model X and Model S, but the company is betting billions that demand for humanoid robots will be there to replace them. However, there is scant evidence for this train of thought.“Tesla’s humanoid robots have hardly demonstrated any notable capabilities, but they’re supposed to cost tens of thousands of dollars each once they’re launched,” Zachary Shahan of CleanTechnica wrote recently.Part of the issue is that Optimus robots are extremely expensive. The robot costs $10,000 to produce at Giga Texas, according to Tesla Car World, and could retail for between $20,000 and $30,000, according to StandardBots.“Normal people can’t plop down $30,000 on a robot companion, and how many super-rich people are really going to benefit from one? And $30,000 is probably an overly optimistic price. Who is going to spend $30,000 or more on what is basically a toy?” Shahan said.However, what little demand there is currently is now protected from foreign competition, especially from China, which leads the world with over 150 operating companies building robots and accounts for between 80% and 90% of worldwide humanoid robot shipments, according to The Robot Report. Related: Tesla sales rebound hides costly problem for investors

The chip company came up short on its bottom line.

Secret Service Agent Arrested In Hazing Incident

Authored by Susan Crabtree via RealClearPolitics,

Secret Service agent Marquez Pinder was arrested and charged Sunday with five felony counts in a near-fatal fraternity hazing incident that occurred this spring, according to court documents.

RealClearPolitics first reported in June that the agent was put on administrative leave while local authorities in Miami investigated him in connection with an April hazing incident that caused severe damage to a fraternity pledge’s kidneys. The victim is a law student at the University of Miami and was undergoing an initiation process to become a member of Kappa Alpha Psi, a prominent historically black fraternity.

Pinder, 29, who was booked in a Miami jail Sunday, faces felony charges of hazing, attempted manslaughter, and aggravated battery with a deadly weapon. Part of the hazing included paddling, which was allegedly so severe that the pledge’s kidneys and skin were harmed, and he was rushed to the hospital.

Pinder’s arrest marks the fifth known time this year that a Secret Service agent or Uniformed Division officer has run afoul of law enforcement.

Last week, RCP reported that senior Secret Service agent Kenneth Premo, 50, who currently serves as a polygrapher, was arrested on July 6 and charged with a driving while impaired, assault on a law enforcement officer, and sexual battery in Virginia.
In May, Secret Service Uniformed Division officer John Spillman was arrested in Miami after police responded to a complaint and found him naked and masturbating in a hallway.
In March, Secret Service Uniformed Division officer Tristan Hale was arrested and faced charges for sending sexually explicit messages, images, and videos to a Lancaster County girl. Pennsylvania State Police charged Hale, 28, of Virginia with possession of child sexual abuse material, unlawful contact with a minor, corruption of a minor, and disseminating sexual materials to a minor.
A Secret Service agent on the vice president’s detail had his home raided by the FBI late last year in a wide-ranging tax fraud probe first reported by RCP.
In addition, a Secret Service agent serving on Vice President JD Vance’s detail is under internal investigation for either purchasing or trying to sell drugs to an undercover police officer, according to multiple sources.
On New Year’s Eve, a new Secret Service agent recruit shot and killed his 16-year-old half-brother and may have been responsible for another bullet grazing a woman’s face on New Year’s Eve. The suspect has claimed self-defense while Florida police continue to investigate.
Many current and retired agents have argued that the agency’s ongoing DEI issues and lowering of hiring standards, as well as manpower shortages in recent years, have weakened the agency’s ability to prevent or respond properly to multiple assassination attempts against Donald Trump, and provide security for the president’s cabinet and dozens of other protectees.

Last week, the Secret Service placed an agent on administrative leave who was suspected of leaking complaints about manpower issues on Vice President JD Vance’s detail.

Michael Townsend, the special agent in charge of the Secret Service’s Miami Field Office, where Pinder is assigned, said the agency “takes seriously any criminal misconduct allegations involving one of our employees.”

“We are fully cooperating with the investigation,” Townsend said in a statement. “The Secret Service remains committed to accountability, professionalism, and integrity, and any misconduct will be addressed swiftly and appropriately upon completion of the investigative and judicial process,” he added.

The Secret Service safely protected a heavily fortified rescheduled White House Correspondents’ Association dinner on Friday. Agency leadership instituted several new security measures and checkpoints never before used for that particular event, along with a scaled-back guest list of 700 compared to the usual 3,000 attendees.

The dinner, which President Trump also attended, was rescheduled after the original event ended abruptly early in the evening when would-be assassin Cole Tomas Allen shot past a security checkpoint and a magnetometer that was being dismantled at the dinner. Besides Trump, guests at that dinner included several Cabinet members and dignitaries, including Erika Kirk, who fled the dinner in tears while other guests hid under tables and an elite group of trained Secret Service agents pointed guns at the ground, searching for any additional suspects.

Secret Service agent Victor Gonzales, who was honored at Friday’s White House Correspondents’ dinner, shot at Allen five times but missed. Allen tripped before he was apprehended by the Secret Service 45 yards from the stairs leading to the ballroom where the dinner was being held.

Gonzales was hit in his protective vest by buckshot from Allen’s gun, according to the Secret Service. The White House Correspondents Association on Friday presented Gonzales an award for exceptional service to its members and guests.

Shortly after the original WHCA’s jarring episode, Secret Service officers shot and hit a soldier visiting Washington D.C. with his family while agents were trying to stop another man firing at them outside a White House checkpoint.

Army Private Benjamin Del Real, 25, is on leave from the military and says he plans to sue the Secret Service. He was hit in the abdomen and critically wounded during the May incident. He’s still recovering after two surgeries. The Secret Service has yet to publicly admit to shooting Del Real.

While he was recuperating at Walter Reed National Medical Center, Del Real told NBC News that a high-ranking Secret Service official visited him in the hospital to see how he was doing. Del Real’s attorney, Joseph Murphy, said he has respect for the Secret Service. Yet, he said, the agency has “dropped the ball here over the last few years in terms of protecting many dignitaries, including the president at the correspondents’ dinner.”

“It seems to happen more frequently than it ever has in the past, and it’s time to take a serious look at what’s going on inside the Secret Service,” Murphy added.

Sen. Marsha Blackburn sent Secret Service Director Sean Curran a letter demanding a full, immediate audit of the Secret Service following the string of embarrassing incidents, including the Allen incident at the White House Correspondents’ dinner.

Citing RealClearPolitics’ reporting, the Tennessee Republican demanded an immediate audit of every employee on the agency’s payroll, demanding that the agency “root out the rot.” In her letter to Curran, Sen. Blackburn said, “It is blatantly clear that the Secret Service needs to be cleaned up.”

“Unless you root out the rot, our nation will suffer the consequences,” Blackburn warned.

Law enforcement experts, including Fox News contributor Paul Mauro, who served 24 years with the New York City Police Department, have questioned why the Secret Service didn’t provide more details sooner about the May exchange of fire near the National Mall and the suspect’s injuries. Federal prosecutors charged 45-year-old Michael Marx of Midland, Texas, with assaulting federal officers with a dangerous weapon, among other crimes.

“A press conference over this recent mysterious shooting in D.C. wouldn’t be a bad idea either,” Mauro remarked in an X.com post. “USSS involved in more shooting incidents than NYPD these days. And that’s … new.”

Former veteran Secret Service agent Rich Staropoli said the string of arrests for serious criminal charges shows that the agents “who are supposed to be elite investigators have shown an inability to police themselves – allowing things to fester until outside police or intel entities get involved and bring incidents into the public forum.”

“The place needs a house-cleaning at all levels,” he said. “This agency will do better with people who truly are worthy of trust and confidence even if it means dumping half the personnel.”

Staropoli places a lot of the blame on previous Secret Service Director Kimberly Cheatle, who was appointed by former President Joe Biden and was forced to resign after the Butler assassination attempt on Trump.

“[Cheatle] followed the same DEI policies that the Biden crime family pushed – she bought into it as much as she bought into her own ability to actually do the job,” he said.

The alumni and other senior fraternity members performing the paddling in the Florida hazing incident allegedly involving Pinder are referred to as NUPEs, which stands for “Negro Under Pressure Excelling,” an acronym that Kappa Alpha Psi, a prominent historically black fraternity, has popularized. According to sources familiar with the fraternity scene the term refers to how diamonds are formed under pressure. Kappa Alpha Psi has championed the acronym as praise for black scholars, artists, and leaders who have responded to highly pressurized or historically restrictive environments by achieving “excellence” or success in their various fields.

Kappa Alpha Psi officially prohibits all forms of hazing. Nonetheless, several chapters have faced disciplinary action and suspensions from universities nationwide following allegations of physical and psychological abuse over the last 30 years.

In 2001 a Florida Agricultural and Mechanical University band member was beaten so severely his kidneys shut down, resulting in a $1.8 million lawsuit. In 2013, a Stevenson University student who became a member of Kappa Alpha Psi at Coppin State University-Powell claimed he was caned, paddled, and beaten so badly he needed days of hospital care, filing a $4 million lawsuit. A University of Mississippi chapter was suspended through 2025 after a student alleged repeated hazing incidents from spring 2019 through spring 2020.

Neither the Secret Service nor Kappa Alpha Psi’s national headquarters responded to a request for comment.

The hazing incident underscores the continuing problems of college hazing. Earlier this year, three fraternity members at Northern Arizona University were charged in connection with the death of an 18-year-old student during a rush event. This month, Ohio State University revoked a fraternity chapter’s status when a student was hospitalized after a hazing incident.

In 2019 Florida State University student Andrew Coffey died during an episode of fraternity-related drinking. Pinder was charged under a Florida law passed after Coffey’s death that makes hazing a felony if it results in serious injury or death.

“Among some, fraternity hazing might be seen as a tradition creating a sense of belonging and brotherhood, but since 2001, hazing in Florida has killed Chad Meredith, Robert Champion and Andrew Coffey while seriously injuring others,” Fernandez Rundle said in a written statement. “This case, with the victims requiring hospitalization, provide[s] clear-cut examples of hazing’s danger. In Florida, hazing is abuse, and it is a crime,” she said. “Its victims too often lie in their graves and in hospital beds.”

Pinder’s attorney, Justin Beckham, told the New York Times that his client was “grossly overcharged.”

Also facing charges in the Miami hazing case are two other men whom authorities allege helped carry out the beatings. They are identified as Jared Lamar James, 26, and Elijah Delano Dyous, 29.

This article was originally published by RealClearPolitics and made available via RealClearWire.

Susan Crabtree is RealClearPolitics’ national political correspondent.

Tyler Durden
Wed, 07/29/2026 – 20:10

Now, Harry has 13 million issues to solve
The lawsuit became a real problem for the celebrity claimants.
First, the privacy lawsuit loss was a big confidence blow for Prince Harry, especially with the judge saying such tough words against the claimants’ manufactured answers.
But that was not the end of the troubles.
Now, Prince Harry and his celebrity co-claimants may have to pay $13.3 million in interim legal costs to the Daily Mail’s publisher.

Prince Harry and co may have to foot legal bill of millions over doomed phone hacking claims against the Mail https://t.co/agHJYfPFkP
— Daily Mail (@DailyMail) July 29, 2026

Markets are good at pricing barrels. They are terrible at pricing the machinery that turns barrels into something you can actually burn.That gap is where the next fuel shock gets built.For five months, nearly every headline about Middle East oil has been a headline about crude. The Strait of Hormuz, tanker counts, and Brent ticking up or down on whether the shooting stops.Crude is the number that moves fastest and gets quoted most. It is also, right now, the number telling you the least.Your grocery bill does not run on crude. It runs on diesel. Your flight does not run on crude either. It runs on jet fuel.Both come out of refineries, and a refinery is a physical plant with power systems and storage tanks that a missile can take offline in an afternoon.That distinction stopped being an academic one over the weekend, and it happened on the Red Sea coast.Saudi Aramco (2222.SR) shut its 400,000 barrel per day Jazan refinery on July 27 after an attack by Yemen’s Houthi militants on Saturday, a note from consultancy IIR seen by Reuters showed, according to the BOE Report.Why a damaged refinery hurts more than a lost barrel of crudeCrude oil is fungible and storable. A tanker can sit at anchor for months, and a barrel from Texas will substitute for a barrel from the Gulf without anyone at the pump noticing.Refined fuel does not work that way. Diesel has to move from a refinery to a truck stop on a schedule, and the world lost a large chunk of its spare refining capacity years ago.That is why the fuel market and the crude market have spent this month telling opposite stories.Refining margins for gasoline and diesel jumped to record highs in July after the Middle East re-escalation, Russia’s ban on diesel exports, and falling global fuel inventories, according to OilPrice.com.Related: OPEC, Saudi Arabia share a signal on where oil is headedEuropean diesel margins topped $60 a barrel, and the prompt NYMEX 3-2-1 crack spread, a standard measure of U.S. refinery profitability, hit a record $64.58 a barrel on July 8, per Reuters data cited by the same outlet.Refiners such as Valero Energy (VLO) and Marathon Petroleum (MPC) have been the quiet winners of that split, while integrated majors including Exxon Mobil (XOM) and Chevron (CVX) sold off on July 27’s peace headlines.What the Houthi strike did to Aramco’s Jazan refineryThe attack damaged the plant’s Integrated Gasification Combined Cycle complex, which supplies the power and steam the refinery runs on, along with the tank farm area, according to the BOE Report. Aramco has tentatively targeted Aug. 15 for repairs and a restart.Jazan sits on the Red Sea coast roughly 70 kilometers, or about 43 miles, from the Yemeni border, and its terminal ships refined products to world markets without passing through the Strait of Hormuz, reported Türkiye Today.That geography made it one of the few Saudi assets still working normally while Hormuz stayed shut. It also made it reachable.What struck me when I looked at the export mix is that this was not a crude story at all. Jazan is a products plant, and the products it was shipping are the exact ones the market cannot spare.Here is what the outage removes, and what it removes it from:Jazan can process 400,000 barrels of crude a day and is targeted to restart by August 15, according to a consultancy IIR note reported by BOE Report.The refinery exported more than 200,000 barrels a day on average over the past three months, and diesel and gasoil made up more than half of June’s exports of roughly 170,000 barrels a day, according to Kpler data cited by Zawya.Russia, normally the world’s second-largest diesel exporter, shipped just 234,000 barrels a day of diesel and gasoil from July 1 to July 10, according to Kpler data reported by Hydrocarbon Processing.U.S. retail diesel averaged $5.313 a gallon in the week ended July 27, according to the U.S. Energy Information Administration.Read those together and the scale becomes uncomfortable. Jazan’s lost export volume is roughly the size of everything Russia managed to ship in the first 10 days of this month.

Aramco halted its 400,000 bpd Jazan refinery after a Houthi attack.ANDREJ ISAKOVIC / Getty Images

What record diesel prices cost you at the checkoutI ran the numbers on the spread, and it is the cleanest signal in the whole energy complex right now.Regular gasoline averaged $4.096 a gallon in the week ended July 27 while diesel averaged $5.313, per EIA data. That is a gap of $1.22, which puts diesel almost 30% above gasoline.Diesel is also within about 50 cents of its all-time high of $5.816, set on June 19, 2022, according to AAA.More Energy Stocks:Louis Navellier reveals best tech, energy stocks to buy nowJim Cramer makes bold buy call on one booming energy stockMorgan Stanley strongly resets GE Vernova stock targetYou do not buy diesel. You buy everything diesel carried. Freight surcharges reach your grocery bill with a lag of weeks, not days, and they do not reverse when crude has a bad afternoon.Jet fuel works the same way on your travel budget. Fertilizer and farm equipment run on distillate too, a channel my colleagues traced in TheStreet’s coverage of war-driven food prices.Crude, meanwhile, is going the other way. Brent fell 3.9% to $84.91 a barrel on July 28 and West Texas Intermediate dropped 3.3% to $79.87 as Iran held talks with Saudi Arabia and Oman about the Strait of Hormuz, reported CNBC.Where fuel prices head from hereThe restart date is the number to watch, and it is the softest number in the story. August 15 is a target from a consultancy note, not a company commitment, and Aramco did not respond to a Reuters request for comment.Two weeks of downtime at a plant this size is absorbable. Two months is a different market.The EIA still expects Brent to average $74 a barrel in the third quarter and retail gasoline to average $3.80 a gallon, down from more than $4.20 in the second quarter, according to its Short-Term Energy Outlook. The same forecast warns that low gasoline inventories will keep crack spreads elevated, which is the polite way of saying refiners will keep most of any crude discount for themselves.Goldman Sachs has kept its Brent forecast at $80 for the fourth quarter while flagging that the risks around it now skew higher, as TheStreet reported on July 24.So watch the crack spreads rather than the crude screen. A falling barrel with a widening crack spread means the savings are getting captured upstream of you.And if refineries have become easier targets than tankers, Jazan will not be the last one. That is the assumption worth stress-testing in your portfolio this month.Related: Aramco CEO sends stark message on Strait of Hormuz and oil

The bearish case for SpaceX has recently been the everyday norm. It is no longer coming from just one corner of Wall Street. I’ve now heard concerns from traders, longtime investors, and market veterans, and the list keeps growing.I’ve previously covered the former Nasdaq CEO’s lockup warning, Doug Kass’s short thesis, and the fact that Michael Burry studied the trade and walked away. Now Jim Cramer, who remains bullish on Elon Musk and the long-term SpaceX story, is telling investors to pump the brakes.This comes after prior coverage in mid-June when Cramer mentioned SpaceX was unable to maintain its meme status. He was right at that time. That’s why SpaceX has been bleeding.If you’re looking to buy SpaceX, maybe buy a little, but I’m begging you, if you want to go big, to at least wait for the first wave of the lockup on insider selling to expire next Thursday and let it drag the share price lower before you pull the trigger.Cramer said that on Mad Money, Tuesday, July 28. It’s not a bear call. That’s a timing call. Timing is key in this market, and Cramer thinks you need to be patient here. We find doing nothing the most difficult task of all, yet it’s the most important ingredient for success in the market. Given what’s on the calendar in early August, I think it is worth taking seriously.Also Read: SpaceX Latest News and StoriesWhy the August 6 lockup expiration changes everything for SPCXSpaceX (SPCX) debuted at $135 on June 12, opened at $150, and surged to an all-time high of $225.64 by June 16, reaching a $3 trillion valuation that briefly surpassed both Amazon (AMZN) and Microsoft (MSFT). Since then, the stock has fallen approximately 50% from that peak, trading around $112 as of this writing. The market cap has dropped from $3 trillion to $1.53 trillion. That’s a wipeout of roughly $1.5 trillion.In fact, it’s a figure above the entire market value of Tesla (TSLA), currently at $1.12 trillion.More SpaceX:SpaceX IPO gives Elon Musk a net worth number that stuns Wall StreetOppenheimer issues bold SpaceX stock price targetSpaceX lands $30 billion Google deal a week before its IPONow comes the next pressure point. On Aug. 6, up to 911.5 million shares became eligible for sale — roughly 20% of restricted holdings for eligible employees and early investors — more than doubling SpaceX’s public float, according to TheStreet. Additional tranches of about 7% of locked shares are set to unlock every two to three weeks through late October 2026, with another 28% becoming sellable after the company’s third-quarter report, according to The Motley Fool.Related: SpaceX stock sends investors a signal they need to seeCramer put the basic economics plainly. “Generally speaking, more supply results in lower prices,” he said.CEO Elon Musk’s stake remains restricted under a separate long-term lockup running until June 2027. But the employee and early investor selling that begins Aug. 6 is significant enough on its own to move the stock, especially in a name already carrying short interest above 30% of the float.What SpaceX’s financials actually show heading into earningsSpaceX is scheduled to report its first quarterly results as a public company on Aug. 4, and I think it’s important to highlight where the company stands at the moment. Revenue is estimated at $6.8 billion and a loss of $0.22 per share, according to Stockwits’ report.The underlying numbers as we head to the Q2 report are not comfortable to read. In Q1 2026, SpaceX posted a net loss of $4.3 billion on revenue of $4.7 billion, according to TheStreet’s reporting. Related: HSBC sends troubling SpaceX stock predictionFor the full year 2025, the company reported $18.7 billion in revenue and a net loss of $4.9 billion. Accumulated total losses since founding in 2002 stand at $41.3 billion, according to the company’s prospectus.The only profitable division remains Starlink, which generated approximately $4.4 billion in earnings before interest and taxes (EBIT) in 2025. The Artificial Intelligence (AI) business lost $6.4 billion. The rocket business also runs at a loss.Cramer said he’ll be watching for Starship updates and continued Starlink’s subscriber growth alongside the AI revenue numbers. But even a strong earnings print may not be enough.”Even if they report a great quarter on Tuesday,” Cramer said, “I don’t know if it can withstand the lockup expiration on Thursday.”

SPCX stock has fallen approximately 50% from its all-time high of $225.64 reached June 16, 2026.SpaceX CEO Elon Musk unveils the company’s new manned spacecraft, The Dragon V2, designed to carry astronauts into space during a news conference

Why waiting might be the smartest trade of allThe setup here is genuinely unusual. You have a company with a legitimately compelling long-term story of satellite internet, hypersonic launch, and AI infrastructure trading more than 50% below its all-time high just weeks after its IPO. Doesn’t that sound like a golden buying opportunity? It honestly does. But on paper.But the combination of a massive lockup expiration, 90-day cancellable AI contracts, deepening quarterly losses, and short interest above 30% of the float creates a near-term risk profile that doesn’t match the long-term narrative.Cramer’s advice isn’t to avoid SpaceX forever. It’s to let the supply hit the market, let the earnings land first, and buy from the people who need to sell rather than handing them a perfect exit. That’s patience. And right now, patience looks like the more disciplined trade.Related: SpaceX’s huge stock dive batters Elon Musk’s wealth

Three firefighters died while fighting wildfires in parts of Greece as extreme heat continues to cause deadly problems throughout southern Europe.