Shipping Turmoil Remains Largely Contained To Gulf, For Now

President Trump said in a long post on Truth Social on Monday that it should be “mandatory” for Arab and Muslim states to join the Abraham Accords to normalize relations with Israel as part of any Iran deal, and threatened that if the condition isn’t met, full-scale war will resume “bigger and stronger than ever […]

Give Peace A Chance By Benjamin Picton, senior market strategist at Rabobank It was TACO Tuesday again in the United States this week as President Trump announced that he was pausing Operation Freedom “for a short period” after it had been underway for just one day. Channelling John Lennon, Trump indicated that progress in negotiations with Iran had convinced him to ‘give peace a chance’, but that the US blockade of Iranian ports would remain in place for now. The Dow Jones, S&P500 and NASDAQ all closed higher and US stock futures...

Soaring Imports Push India's Crude Stocks To Near 1-Year High India’s strategic and commercial crude oil inventories have jumped to a nearly one-year high as the world’s third-largest crude oil buyer boosted its imports to a record high in June, OilPrice reported. As at the end of June, India’s crude oil stocks held in strategic, commercial, and refinery storage had increased to 104 million barrels, up from 90.5 million barrels at the end of April, according to data from commodity intelligence provider Kpler cited by Indian outlet Economic Times. Before the Iran...