Welcome to Mid-Week Macro for Wednesday 20th May 2026.

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This post and video are FREE for everyone, and topics covered include:

* A personal update as I am back in the UK for the foreseeable future

* Commodities and equities overview

* What else to look for in the week ahead

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Mid-week Polymarket market

I do think that the following market is mispriced. Sir Keir Starmer is not necessarily in the strongest of positions but he would have no need to leave at the moment if he doesn’t want to, despite what the Labour backbenchers (and most of the population) want.

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Podcasts & Posts & Article Links

UK Moves To Ban New North Sea Oil & Gas Licenses Permanently

Three Supertankers Carrying 6 Million Barrels Exit Strait Of Hormuz

Trump endorses Ken Paxton in Texas, gambling on a challenger with baggage in a crucial race

Reactions To Rep. Massie’s Defeat

Oil Prices Extend Decline After The Largest Crude Inventory Drawdown In History, Cushing ‘Tank Bottoms’ Loom

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