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Surge in crude sales to China exposes limits of US and EU attempts to rein in Islamic republic
...South East Water Ltd, the only part of the group regulated by Ofwat, posted a £74mn pre-tax loss compared with a loss of £37.2mn the previous year....
Brent crude has struggled to stay above $90 despite Tehran’s attacks on Israel this weekend
...Thanks for reading, Amanda What’s keeping oil prices steady as Middle East tensions escalate?...
...China stand to lose from the conflict’s expansion as it would significantly impact energy exports from the region, the price of oil, and the global economy,” said Ayham Kamel, practice head for the Middle East...
...However, Israel has signalled that it is likely to respond, risking a full-blown Middle East conflict....
...Back in the 1973-74 Middle East crisis, in association with an Opec embargo, oil rose 300 per cent. The S&P 500 index halved....
...Hours later, US President Joe Biden cut short a weekend beach trip and was returning to the White House to consult with his national security team about the situation in the Middle East, the White House...
...Divergence is sharp between more fragile, resource-poor Middle East nations and wealthy Gulf oil exporters, which are more insulated from the shocks than their neighbours....
...In a statement, Senate Republican leader Mitch McConnell said the bill would “provide critical resources to Israel and our own military forces in the region,” “overdue lethal assistance to Ukraine and equip...
...“The Middle East is going to be volatile forever. But if Ukraine loses to Russia, that would be a step change for Europe and Nato. Where do our strategic priorities really lie?”...
...In the Middle East, BP and Abu Dhabi National Oil Company suspended talks on a $2bn deal to buy a stake in an Israeli gasfield, one of the first major corporate deals to be thrown off course by the war in...
...Global coffee prices are soaring as hot, dry weather in major producing countries in south-east Asia spurs fears of shortages....
...Only about 15 per cent of the country’s water resources have been developed. Almost all farmers depend on rain, as they are not able to store rainwater or pump water from rivers....
...“They don’t have resources in their budget to allocate for refugees.”...
...The so-called “East Data West Computing” project is “essential for lowering energy resource consumption and powering AI workloads in an orchestrated approach,” he added....
...A version of this article was first published by Nikkei Asia on February 12. ©2024 Nikkei Inc. All rights reserved....
...They have also called for bringing forward the end of the moratorium on duties against south-east Asian imports....
...John Barrasso, the top Republican on the Senate energy and natural resources committee, slammed Biden for “doing all he can to make it economically impossible to produce energy on federal lands”....
Beware of analysts bearing acronyms
...But analysts said south-east Asia’s biggest economy was well-positioned to shape global supply and prices on its own....
...Oil prices rose above $90 a barrel and US stocks tumbled as flaring tensions in the Middle East sent tremors through markets....
...For international mining groups also seeking to navigate US-China tensions over natural resources, the Middle East offers a neutral venue for minerals processing, capital and corporate headquarters....
...Oil prices dropped sharply on Monday as Saudi Arabia’s decision to cut its official selling price for oil exports in February overshadowed heightened tensions in the Middle East....
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