Will Cunliffe
Iran hits the US with 'surprise' attacks, China is negotiating with the Houthis and the MERA consortium looks to build a 200 kb/d refinery.
It all kicked off again! CENTCOM said it intercepted an “attempted surprise attack” of Iranian ballistic missiles against US troops in Jordan. Spence said the cagey attack was to disable a Mr T and Mr N surprise. Who knows. Also, there's rumors the Iranians will get some super duper Chinese anti-aircraft missiles. Naturally, Trump is back threatening fire and brimstone in retaliation… The regional conflict is escalating too: the US and Saudi Arabia attacked Iran-aligned groups in Iraq, blaming them for dozens of recent drone attacks. So prices gapped up at the open – a bit… From yesterday’s final close around $83.80/bbl, Brent opened this morning nearly four bucks higher! Yet, we’re still only around $87. Dubai got an even bigger boost; the Aug Brent/Dubai swap plummeted to around $6 this morning, down a buck from yesterday’s close – but recovered towards $6.50 after the window.
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