Trump Says All Mines Cleared From Strait Of Hormuz, Warns Military Options Still On Table

India's Trade Deficit Surges As Energy Import Prices Soar India's trade deficit soared in April by more than analysts expected, as the surge in oil and gas prices hiked the Indian energy import bill. The trade deficit jumped by $8bn from $20.6bn in March to $28.38bn last month, higher than the $26 billion estimate, on a broad-based increase in imports. At the same time, total exports grew by 13.8% in April from a year earlier to hit $43.56 billion. Oil imports sequentially rose by around 60% MoM likely driven by higher volumes in April (vs....

Hormuz Normalization Begins As Saudi Supertankers Exit And A Flood Of Persian Gulf Oil Heads For Asia Energy flows through the Strait of Hormuz are beginning to restart on Thursday after the interim U.S.-Iran peace deal, with several Saudi-controlled supertankers transiting the critical waterway and exiting the Persian Gulf. There is a massive backlog of crude and LNG tankers in the Persian Gulf, preparing to exit the Hormuz chokepoint bound for Asia. Bloomberg says 31 supertankers, carrying about 62 million barrels of crude, could soon exit.   The actual number of crude...

Northeast Heat Wave Arrives As World Cup Matches Get Underway As the World Cup starts, a prolonged spell of summer heat is expected to grip New York and much of the Northeast through the end of the week and into the weekend. Daytime temperatures are forecast to reach the 90s across several major cities, while high humidity will make conditions feel even hotter, according to Bloomberg. Forecasters expect the most intense heat on Thursday and Friday, when heat alerts will be in place across large parts of the region. Multiple cities along...