Investment banking giant JP Morgan has said it is struggling to predict how oil prices will be impacted by the US-Iran war, telling investors in a rare note that “we simply don’t know how to model the endgame”. The bank said it assumed at the start of the conflict that there would be “economic red
Nicholas Hopton, Distinguished Fellow in international security at the Royal United Services Institute think tank in London and former UK ambassador to Iran The latest spike in military action is not going to produce Iran’s capitulation – it is just the latest twist. Economic pressure is also unlikely to work because China, Russia and many
The security sources say six international warships are now in the seas close to the Lutuf – two from Turkey and one each from Spain, Denmark, the US and India, something the BBC has not been able to independently verify. “There is military equipment on the [hijacked] ship meant for Turkey’s operations in Somalia,” the
A proposal slated by Pauline Hanson to allow Australians to withdraw more from their superannuation would “decimate” the retirement income of millions of Australians, Treasurer Jim Chalmers warned this morning. “[Superannuation] is a really important part of our economic security and retirement incomes for Australian workers,” Chalmers told Seven’s Sunrise. Federal Treasurer Jim Chalmers.Alex Ellinghausen
NEW YORK — Analysts are expecting major oil companies to report raking in large spring profits while fighting between Iran and the U.S. impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages. The conflict, now in its sixth month, halted most shipping through the Strait of Hormuz, a narrow
Throughout its negotiations with the United States, Iran has insisted that it has the right to control movement through the strait and introduce tariffs for the passage of ships. The United States and its Gulf allies, as well as governments in Europe and Asia, oppose this and say passage through the strait must return to
