Japan Power Prices Surge To Highest Since 2023

Futures, Gold Slide, Oil Jumps After Iran Peace Talks Delayed With US markets closed for the Juneteenth holiday, global stocks are ending a strong week on a cautious note as the recent relief over an interim peace deal between the US and Iran gave way to a focus on the challenges of securing a lasting agreement. As of 8:30am, S&P 500 futures slid 0.4% after the benchmark posted its best week since the end of May (despite the drop, the S&P is still up on the week, and up 11 of the past 12). Europe’s Stoxx...

Israeli troops have carried out multiple raids against villages in Daraa and Quneitra Governorates on Wednesday, according to Syrian state media. The raid in Daraa targeted the oft-raided village of al-Maraiyah, and involved the detention of a local for unknown reasons. Locals reported a growing amount of Israeli drones in the area ahead of the […]

UBS Warns El Nino May Intensify Food Inflation Across Asia By now, readers have a clear understanding that the Gulf-driven energy shock is on course to collide with a potential super El Niño weather event, creating what could be a dangerous second-order shock to food supply chains around the world. The concern is that extreme heat and disrupted rainfall patterns could hit top agricultural growing belts, dent harvest output, and amplify existing supply stress. Even before those weather-driven impacts fully materialize, global food prices are already rising, suggesting that...