Government and Society

Norway's Oil Export Earnings Surge 68% Amid Iran War Authored by Alex Komani via OilPrice.com, Norway's crude oil export earnings surged 67.9% year-on-year in March to a record 57.4 billion kroner ($6.1 billion), primarily driven by soaring global energy prices following the outbreak of the Iran war and the subsequent closure of the Strait of Hormuz. Oil prices averaged 1,014 kroner ($107.52) per barrel in March, the highest monthly average since September 2023. As Europe’s largest producer of oil and natural gas, the Scandinavian country exported 56.6 million barrels of crude oil in March, good...

First Major Weather Organization Declares El Nino Onset As Food Inflation Risks Intensify For months, we have warned readers that the probability of El Niño formation was rising, with downstream risks across critical agricultural growing belts. That forecast has now moved from a risk scenario to reality, as the first major weather body has formally declared the onset of this warming pattern in the equatorial Pacific, threatening to disrupt rainfall, temperatures, crop yields, power demand, and commodity flows into year-end. Bloomberg commodity expert Javier Blas wrote on X, "The Japanese...

Iranian Strikes On US Bases In Jordan Aided By 'Accurate Intel' From Locals, IRGC Says Via The Cradle Iran's Islamic Revolutionary Guard Corps (IRGC) announced Monday that its most recent retaliatory operations against US military assets in Jordan were carried out with "cooperation and accurate information" provided by the Jordanian people. "Honorable people and troops of Jordan, thank you for your sincere cooperation and accurate information that led to the precise targeting of US forces… and the destruction of 20 shelters where child-killing US forces were stationed in the Al-Azraq (Muwaffaq Salti) Base," it...