Container Ship Sinks In Hormuz After Iranian Strike Last Month; UBS Gives Latest Strait Update

AI Demand, War, & Climate Pressure Push World Back To Nuclear Authored by Haley Zaremba via OilPrice.com, The US and Canada each announced plans this week to build ten new nuclear reactors, the biggest coordinated nuclear push in North America in decades. The moves come as the AI boom, the war in Iran, and broader geopolitical instability push energy security to the top of the policy agenda worldwide. China added 34 gigawatts of nuclear capacity over the past decade to the US's one plant, and is on track to overtake both the US...

Shipping Turmoil Remains Largely Contained To Gulf, For Now The world's most critical maritime energy chokepoint has now been closed for 12 weeks, leaving seaborne energy supply chains heavily disrupted. Still, one UBS analyst points out that the shock has yet to meaningfully spill over into broader global shipping outside the Gulf area, suggesting the disruption remains largely contained for now. "It looks like non-energy related global shipping traffic is running just 4% below normal in May - a bit better than April," UBS analyst Arend Kapteyn wrote in a...

Trump Announces Start Of "Clearing Out" The Strait As A "Favor" To RoW As 'Indirect' Talks Begin With Iran Summary:  President Trump announces start of "clearing out the Strait" as a favor to the rest of the world as two U.S. Navy guided-missile destroyers passed without incident. Peace talks in Pakistan begin in indirect format, led by Vance and on Iran side - Ghalibaf, Arachchi. Saturday sees more Israeli strikes on Lebanon, with Hezbollah supporting Pakistan talks but rejecting 'separate deal' directly with Israel. Trump on talks and potential bigger future attacks on Iran: "You don’t need a backup...