Stockpiling Begins: Neros Awarded $100 Million Pentagon Contract For Kamikaze Drones

Winter Is Coming: Europe Faces Twin Diesel And NatGas Crunch Samantha Dart, co-head of global commodities research at Goldman Sachs, began the week by telling Bloomberg TV that the global diesel-supply crunch is "what keeps her up at night." She followed up Wednesday with a client note warning that European natural gas storage levels are also lagging the seasonal average ahead of the winter heating period. Benchmark TTF futures have fallen 7% this week to about 54 euros per megawatt-hour, but Dart maintained her 60-euro balance-of-third-quarter forecast. She noted that...

Zelensky To Remove Ukraine's Reforming Young Defense Minister In Ongoing Shake-Up: Report Ukraine's 35-year old defense minister, Mykhailo Fedorov, has only been in the top military spot for six months, but amid a new Zelensky-initiated major cabinet reshuffling, the FT reports that the military's top spot has been targeted as the next leadership change. The report has been issued just on the heels of Prime Minister Yulia Svyrydenko's surprise removal, upon which Zelensky in a statement suggested a broader government overhaul is underway. "Ukraine is changing its political strategy," he made clear. The Ukrainian leader...

Jet Fuel Shortage Deepens Pressure On Global Airlines Via City AM, Heathrow’s April passenger numbers fell 5% to 6.7 million, with Middle East traffic down 50%. Transfer traffic rose 10% as travellers rerouted through Heathrow to Asia and Oceania. Airlines are facing mounting pressure from jet fuel shortages and higher oil prices. Fewer passengers were heading to Heathrow Airport in April as the war in the Middle East keeps travellers grounded. Passenger numbers at Europe’s biggest airport fell by five per cent in April to 6.7m with the blame being attributed to the “ongoing impact of the...