Author: Daniel snow

Oil prices shed 2% as Iran-Israel ceasefire eases concerns over supply, Strait of Hormuz closure

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Brent crude prices pared gains from the previous session and fell nearly $2 on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but they were still poised for a third straight week in the black.Ilan Rosenberg | ReutersOil futures fell sharply on Tuesday as a freshly announced Iran-Israel ceasefire began to allay investor concerns over supply and shipping disruptions in the oil-rich Middle East.The Ice Brent contract with August expiry was trading at $69.76 per barrel at 09:09 a.m. London time, down 2.41% from the previous session. The front-month August Nymex WTI contract…

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‘Just a big show?’ Anxiety for Middle East after Iran-Israel attacks

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Missiles fired from Iran in retaliation for Israeli attacks are seen in the sky over the Hebron, West Bank on June 21, 2025.Anadolu | Anadolu | Getty ImagesDUBAI, United Arab Emirates — Escalating regional war, or a bunch of choreographed theatre?Millions across the Middle East were told to shelter in place Monday night as the airspace closed above them and Iran fired a barrage of missiles over Al-Udeid air base in Qatar, the U.S.’ largest and most fortified military base in the region. Videos of interceptors lighting up the night sky over Doha went viral on social media, while flight…

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Global markets post muted gains on back of Trump policy fatigue

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Traders work at the New York Stock Exchange on June 13, 2025. NYSEGlobal equities posted muted gains Tuesday, as investors digested U.S. President Donald Trump’s announcement of a ceasefire timeline between Iran and Israel, as well as growing signs of fatigue toward Trump’s policymaking.The MSCI World index, which tracks over a thousand large and mid-cap companies from 23 developed markets, was just 0.24% higher as of 1 p.m. Singapore time.U.S. futures were also up marginally. Futures tied to the Dow Jones Industrial Average inched higher by 0.71%. S&P 500 futures gained 0.74%, while the Nasdaq 100 futures rose 0.98%.While Asian…

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Can Germany afford a 5% NATO defense spending target?

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Federal Chancellor Friedrich Merz (CDU) walks past Bundeswehr soldiers with military honors in front of the Federal Chancellery before welcoming the Prime Minister of Denmark.Bernd von Jutrczenka | Picture Alliance | Getty ImagesTax hikes and soaring debt might be Germany’s new reality, as NATO allies are set to soon face a higher defense spending target.The country in 2024 spent around 2% of its gross domestic product (GDP) on defense, coming in at over 90 billion euros ($104 billion), according to a NATO estimate. While that expenditure is in line with the existing NATO target, it falls short of the 5%…

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RBN Energy exec says Iran isn’t likely to close the Strait of Hormuz

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RBN Energy executive Rusty Braziel told CNBC’s Jim Cramer on Monday that he doubts Iran will close off the Strait of Hormuz, a vital oil shipping passage.”If they end up cutting it off, they’re going to end up cutting off themselves,” Braziel said. “So, it’s pretty unlikely that that happens unless things get a lot more dire than they are, than they seem to be right now.”Following the U.S.’s attack on Iran’s key nuclear sites, there are concerns that the country might be threatening to shut down the strait. A report from Iran’s state-owned Press TV said its parliament on…

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Myanmar plays a critical role

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Illustration of the national flag of the People’s Republic of China and a mining site. Craig Hastings | Moment | Getty ImagesBeijing has been stepping up controls on rare earth exports, triggering global shortages and exposing industries’ dependence on Chinese supply chains. However, over recent years, China itself has become reliant on rare earth supplies from an unexpected source: the relatively small and war-torn economy of Myanmar. While China is the world’s top producer of rare earths, it still imports raw materials containing the coveted metals from abroad.Myanmar accounted for about 57% of China’s total rare earth imports last year, Gracelin Baskaran,…

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