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US President Donald Trump on June 5 compared Russia's war against Ukraine to children fighting in comments during a visit by German Chancellor Friedrich Merz, telling reporters at the White House that "sometimes you're better off letting them fight for a while." Trump downplayed prospects for an immediate peace between the countries despite his diplomatic efforts to push the two sides to negotiate a cease-fire and eventually a peace deal. The US president has become increasingly frustrated over the lack of progress toward either goal. During last…
Having arrived in Central Asia to make deals, Italian Prime Minister Giorgia Meloni did a lot of name-checking during a policy address at the Astana International Forum. First, she went for the low-hanging fruit, giving a shout-out to Marco Polo, pointing to the legendary 13th century Venetian merchant-explorer to support her assertion that it is in “the DNA of the Italian people” to seek new trade possibilities. She then dusted off a name that had fallen out of favor for decades — Halford Mackinder, the early 20th century British…
Tariff whiplash under the Trump administration has raised a lot of concerns about the United States’ relationship with its first- and second-largest trading partners, Canada and Mexico. This is especially true for energy trade, which all members of the United States-Mexico-Canada Agreement (USMCA) depend on to keep their economies healthy. Experts contend that recognizing the vital role of energy trade for all parties, and strengthening those relationships, is critical in these volatile times. While this is true for all of North America,…
In recent years, Colombia’s oil production and reserves have been in decline and interest in investing in the country’s crude seemed limited in the post-pandemic landscape. In addition, President Petro has been vocal about supporting a green transition and restricting investment in new fossil fuel projects. However, in recent months, there has been a renewed interest in developing exploration and production. Colombia has long relied on its fossil fuel revenues to support the national economy, with oil and gas contributing around…
Refining capacity closures and resilient fuel demand have tightened global fuel markets in recent weeks, benefiting refiners globally. Refining margins have been rising this year and hit in May the highest global composite margin in more than a year. As the driving season begins and summer approaches, peak demand in the northern hemisphere is here. Refiners, including U.S. refining giants, are benefiting from the higher margins, although these margins are far below the record highs seen in 2022 amid the oil market turmoil. Still, global composite…
