Yesterday, Israeli Prime Minister Benjamin Netanyahu announced that he was prepared to implement a ceasefire agreement with Lebanon but would respond decisively to any violations by Hezbollah, emphasizing that Israel would maintain “complete military freedom of action.” In a televised address, Netanyahu stated that he would present the ceasefire deal to his full cabinet later […]

President-elect Donald Trump’s pick of U.S. Senator Marco Rubio for secretary of state could signal stricter enforcement of oil sanctions on Iran and Venezuela but concerns about retaliation by China could temper any efforts. Rubio, a longtime member of the Senate Foreign Relations Committee, has long pushed for a tougher U.S. policy on Iran and

The International Energy Agency (IEA) reported that the world oil market is expected to face a significant surplus in the new year, with public stocks exceeding 1.2 billion barrels and OPEC+ spare capacity at historic highs. The agency reassured markets that it stands ready to address any potential supply disruptions from Iran. Despite recent price

Consumer confidence took an unexpected hit for September, dropping the most it has in three years. The index fell by 6.9 points to 98.7, which is the biggest drop since August 2021. Expectations for the next six months sunk to 81.7, and the view of current conditions fell to 124.3. The drops are mainly due

There have been several oilfields across Libya that have halted output. This is due to a dispute between rival government factions over control of the Central Bank and oil revenue. This has halted about 400,000 barrels per day of oil output. This would give a bullish tone to the market but, OPEC+ is scheduled to