TotalEnergies CEO Reveals Cost To Move A Supertanker Through Hormuz

Heat Dome Halts German Trains After Track Sealant Liquifies Europe's heat wave is now quickly morphing from a public health crisis into an infrastructure nightmare, with power prices surging, more than 1,000 excess deaths reported across France, and extreme temperatures bringing parts of Germany's rail infrastructure to a halt. The local German outlet Leipziger Zeitung reports that after a week of sweltering temperatures above 30°C, with readings climbing toward 40°C on Saturday, critical transport infrastructure in Leipzig failed under the heat. The city, located in the eastern German state of Saxony,...

Turkey Markets Crash After Court Unseats Opposition Head In Latest Erdogan Power Grab Shortly after we learned that Turkey had sold virtually all of its Treasuries in March to defend the lira after the Iran war broke out, the country was thrown into fresh political turmoil on Thursday when a Turkish court removed the leader of the country’s main opposition party in a landmark ruling that triggered a stock market crash, including one marketwide halt, and could strengthen President Recep Tayyip Erdogan’s grip on power while further alienating foreign capital. The...

EU NatGas Hits 2023 Energy Crisis Levels As Trump's "Economic D-Day" Clouds Hormuz Reopening European natural gas prices surged to levels last seen during the energy crisis triggered by Russia's invasion of Ukraine, when severe supply disruptions sent global markets into turmoil. The catalyst was an overnight Truth Social post from President Trump declaring "ECONOMIC D-DAY" against Iran. The announcement raises the probability of prolonged disruption in the Strait of Hormuz, a critical maritime transit corridor for Gulf energy exports. For Europe, continued disruptions in the Strait of Hormuz would constrain access...