IRGC Warns Against Ships Entering Strait Of Hormuz As Rubio Tells Iran 'Hardest Hits Yet To Come'

Petrochemical Supply Shock Begins Idling Asian Factories For weeks, we mapped out for readers how the Gulf energy shock dominoes would fall, spreading outward from the Middle East and striking Asia first through tightened energy-product flows that risk destabilizing the global economy. That transmission of tightening energy flows is now becoming alarmingly visible on factory floors across Asia. Goldman analysts, led by Georgina Fraser, warned clients on Monday that the petrochemical shock is worsening across Asia, with textile and packaging plants emerging as the first major downstream casualties. "The supply shock...

Iraq has shut down some oil wells. As have Kuwait, Qatar, Bahrain, the Emirates and Saudi Arabia. Qatar has also shut down is gas wells and the process ‘trains’ needed to liquefy natural gas. All this because of the virtual closure of the Strait of Hormuz and because of potential missile and drone attacks on the fragile […]

China Dismisses Report Of Top Chipmaker Aiding Iranian Forces As "Fake News" Beijing moved into damage-control mode on Friday, with its foreign ministry dismissing a Reuters report that cited two senior Trump administration officials alleging that SMIC, China's largest chipmaker, had sent chipmaking tools to Iran, as "false information." Asked about the report at a regular news conference in Beijing, foreign ministry spokesman Lin Jian said he was "not familiar with the situation" and added, "What I can tell you is that recently, some media have been keen on releasing...