Iran's First Use Of ICBMs Raises Serious Questions About Remaining Arsenal

Container Ship Sinks In Hormuz After Iranian Strike Last Month; UBS Gives Latest Strait Update The Egyptian-owned, Maltese-flagged container ship Safeen Prestige (IMO: 9593517), which was damaged in the first week of the U.S.-Iran conflict following an Iranian strike, has reportedly sunk in the Strait of Hormuz. According to Bloomberg, Pakistan's hydrographic service said the container ship sank last week, leaving only an oil slick on the surface of the water in the Hormuz chokepoint. The IRGC torched the SAFEEN PRESTIGE in the Strait of Hormuz and continues to reignite the fire. Now...

"Prepare For More Severe Scenarios": Bank Of England Chief Warns Of AI Threat To Global Financial System As the world marches towards open-weight, efficient, unrestricted frontier AI models out of China, Western leaders are starting to panic over the lack of guardrails. Most recently, Bank of England Governor Andrew Bailey suggested that the threat posed by AI could lead to a chaotic correction in global financial markets, as frontier models are now showing "increasingly sophisticated autonomy and problem-solving abilities, as well as threat capabilities." Governor of the Bank of England Andrew Bailey addresses the...

India's Power Demand Hits Record High As Heat Drives Coal Use Submitted by Irina Slav of OilPrice.com India’s power generation rose to a new all-time high amid hot weather that drove air-conditioning demand up, with thermal generation, most of its coming from coal power plants, covering 62% of demand. Power demand on Thursday hit 271 GW, on the “fourth consecutive day when the peak power demand (solar hours) reached a new all-time high,” India’s power ministry said, as quoted by AFP. After milder temperatures tempered demand growth in the fiscal year to March...