Never bet against Donald Trump? The oil market appears to have made a risky wager from day one of the Iran war: The U.S. president would not allow the conflict to spiral into a full-blown economic crisis. So traders wouldn’t price one in, no matter what was happening with physical supplies.
Centre stage at last week’s Berlin airshow was the “wingman” drone, Europe’s latest-generation defence weapon designed to accompany fighter jets.
Doubts swirled around the U.S.-Iran interim deal to end the war in the Middle East as shippers said it could take weeks for confidence to return after any reopening of the Strait of Hormuz, and fundamental questions remained unanswered.
Asian stocks made cautious gains on Tuesday after a rally in the previous session on news of a U.S.-Iran peace deal, while investors assessed a widely expected Bank of Japan rate increase to a 31-year high.
Tokyo auto shops and Detroit car dealerships have been running short of motor oil, paint and other products for months since the Middle East conflict snarled global supply chains.
Myanmar President Min Aung Hlaing’s state visit to China is set to give the former junta chief a significant diplomatic boost as he seeks to consolidate his grip on power in the war-torn country following a widely condemned election at the turn of the year.
European leaders will warn U.S. President Donald Trump at Tuesday’s G7 summit that a superficial interim Iran deal risks entrenching Tehran’s nuclear and ballistic missile programmes, while also pressing him to rethink his Ukraine strategy.
The Bank of Japan raised interest rates to a 31-year high on Tuesday, marking another landmark step in normalising monetary policy as it focused on taming price pressures from the energy shock caused by the Iran war.
The Iran war’s disruption to global crude oil and LNG markets is already being measured in lost barrels and higher prices. Now, with a U.S.-Iran peace deal expected to reopen the Strait of Hormuz, the reckoning begins: was this a watershed moment, or merely another blip?
The parent of U.S. yogurt brand Dannon sued rival Chobani on Monday, accusing it of misleading consumers with claims about a higher-protein line of yogurt.