Oil and cracks roar as Trump paralysed

Monday 10 August 2026

Oil and cracks reopened bigly last night.

The US SPR fell below 300mb as draws accelerated again.

Remember, despite what the Trumpian propaganda at the DOE says, 270mb is cut off if you want to have a military capable of sustained operations.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.