The Next Supply Shock Is Already Underway
The next inflation shock may not begin with oil. It may begin with diesel shortages in Russia, dry fields in Europe and a growing inability...
Category: Commodities
The Black Sea Is Becoming the World’s New Supply Chokepoint
For most of the war, the economic significance of the Black Sea was measured through energy. Oil terminals, pipelines, refineries and Russia’s ability to finance...
Hormuz: The Illusion of Control
Donald Trump has declared that the United States has “total control” over the Strait of Hormuz. “It belongs to us,” he said, adding that Iran...
The World Is Running Out of Safe Energy Routes
The latest developments in the Middle East make one thing increasingly clear: the energy shock is no longer only about oil prices. It is about...
Copper’s Rally Is More Than an AI Story
Copper is once again making headlines, approaching a record close on the London Metal Exchange after another powerful rally. While the market continues to focus...
Hormuz Is Reopening, but the War Is Not Over
After months of military escalation, interrupted ceasefires and contradictory diplomatic signals, Iran and Oman appear to have reached an agreement on a temporary shipping route...
Oil Is No Longer Pricing Supply. It Is Pricing Control
For much of this year, oil markets have oscillated between panic and relief. Every diplomatic headline has produced optimism. Every military escalation has restored anxiety....
The Middle East’s Great Reordering: War, Energy and the Nuclear Race
The Middle East is no longer experiencing a series of disconnected crises. What initially appeared to be a military confrontation between the United States and...
From Hormuz to the Red Sea: The Global Supply Chain Comes Under Siege
Wars rarely remain confined to the battlefield where they begin. They evolve, adapt and seek new points of pressure. What started as a confrontation over...