A big central bank week is approaching its end and the Fed is back as the biggest dove in town. Does it make sense? Meanwhile, Oil demand dynamics keep delivering.
Europe has seen some remarkable energy prices in recent days with record negative electricity prices in the North Western part of the continent, while Saudi Arabia strikes again and prolongs the supply cuts into August.
Why – even after successive cuts – does crude oil keep settling on a $70 barrel? The conundrum has pitted the OPEC+ alliance against each other. Suspicious eyes are turning away from outside foes, and are now looking inwards, trying to sniff out the mole who is free-riding on the collective. Will the imposter be detrimental to Saudi’s production cut strategy?
Are the Chinese taking over management of the Middle East? Have Sweden given up on NATO? Why was I completely wrong about Bakhmut? Read all the answers in this year’s Great Game!
China’s recent deals with both Iran and Saudi Arabia should be a wake-up call for the West. Xi wants to position China as both the political and economical centre of gravity for the Global South.