US Resumes Refueling Saudi Fighter Jets for Yemen War After Eight Years

World's Largest Sovereign Wealth Fund Cuts Treasury Holdings... But It's Not What You Think The headlines are running rampant this morning as the world's largest (and most transparent) sovereign wealth fund - Norway's Government Pension Fund - has proposed reducing the amount of government bonds in its $2.3 trillion portfolio to boost holdings of riskier debt, with US Treasuries the most affected. Norges Bank Investment Management (NBIM), which manages the fund, said in a letter sent to the Ministry of Finance on Tuesday and published on its website, that government debt should...

Argentina's Milei Escalates Falklands Dispute With Oil Sanctions On UK, Israeli Firms Argentina's President Milei has announced plans to sign a decree sanctioning companies working on oil exploration of the Falkland Islands, coming a mere days after President Trump indicated that the US position on the archipelago was "under review". The Libertarian-Right firebrand leader proclaimed quite provocatively that "The Falkland Islands are Argentinian, historically and legally. There is no debate" and added that the "winds of change" have more lately favored Argentina's claim. Milei characterized the Falkland's Sea Lion Project, which is...

Asian Oil Buying Spree Sends Dubai Crude Toward $100 Authored by Irina Slav via OilPrice.com, Stronger appetite for Middle Eastern crude grades from China and India has added upward pressure on prices for these grades, pushing the Dubai futures close to $100 per barrel, Bloomberg reported today, citing unnamed traders. Demand for Middle Eastern oil is especially strong from refining majors such as Indian Oil Corp. and PetroChina, as well as refiners in South Korea and Japan, the report said. This is despite the latest escalation between the United States and Iran,...