Tanker Attacks Spike Oil, US-EU Trade Probe, Asia Faces Energy Crunch

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Brent jumped back above $100 a barrel after the Iran war led to more shipping turmoil in the Middle East and China tightened fuel export curbs to cope with the impacts of the conflict.

(2) President Donald Trump said the massive release of emergency oil reserves approved by the International Energy Agency would ease energy price pressures while the US seeks to “finish the job” in its campaign against Iran.

(3) Goldman Sachs and Citigroup have told staffers in Dubai to stay away from their offices as Iran’s attacks on Gulf cities continue.

(4) The European Union warned that its inflation rate could surpass 3% this year if the war in the Middle East causes Brent oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period.

(5) President Donald Trump’s administration started the first of several sweeping trade investigations that set the stage for new tariffs, the centerpiece of a push to replace levies struck down by the US Supreme Court.

(6) Prime Minister Keir Starmer appointed Peter Mandelson as US ambassador despite an official vetting process that warned his ties to disgraced financier Jeffrey Epstein entailed “reputational risks.”

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