News
Oil bulls have finally found some relief as crude prices rallied to multi-month highs, driven by escalating tensions between Israel and Iran, which continue to trade attacks in one of the region's most volatile periods in recent years. As of Tuesday morning, Brent crude for August delivery had surged $9 from a week earlier to reach $75 per barrel, with WTI following suit. Prices, which had remained under pressure much of the year due to concerns over oversupply and flagging demand, are now being buoyed by the specter of widening geopolitical…
In the last 25 years, China has gone from providing less than 2 percent of Latin America’s exports to being the second largest trade partner for the region and the single biggest trade partner of South America. This skyrocketing trade relation comes on the back of China’s ambitious Belt and Road global infrastructure initiative, and gives Beijing enormous influence in critical emerging markets. In addition to trading goods, China is also a key lender in Latin America, particularly in the context of providing funding for energy…
In the past, oil price wars were short, sharp and, to those who profited from them, sweet. Now, an oil price war is a more cautious affair—assuming what OPEC is doing with its supply return is a price war, of course. And because most assume just that, all eyes are on the group’s chances of success. These are uncertain, to say the least, with most demand forecasts predicting a disaster for prices. OPEC and its friends from OPEC+ decided to start returning 411,000 barrels daily to the global oil market in May. Since then, they have agreed…
Israel's strikes against Iran's nuclear complex and military leadership have sent shock waves around the globe, raising fears of escalation and a wider war in the region. But the shock-and-awe campaign also reverberated in Moscow, where Russian President Vladimir Putin has positioned himself as a powerful interlocutor with Tehran. Russia's response to the strikes was swift and unequivocal. In a lengthy statement, the Foreign Ministry expressed its "utmost concern about the dangerous escalation of tensions in the Middle East" and accused Israel…
For years, automakers have been betting big on electric vehicles (EVs), as several governments attempt to phase out the sale of internal combustion engine (ICE) vehicles in favour of cleaner electric alternatives. As governments introduced financial incentives for EV uptake alongside emissions fees and eventual bans on ICE vehicles, automakers expected the sale of EVs to soar. However, due to a range of factors, EV sales are lower than they were expected in many parts of the world, with no sign of increasing significantly any time soon. This has…
