Tensions and Turmoil in the Oil Market

Oil might be about to fall out of bed, because of an almighty concatenation of the US elections, the Houthis in the Red Sea, the Israelis  striking Iran, and the Iranians striking The Strait of Hormuz. If it pushes toward $300 a barrel, they’ll be laying it down like Chateau Lafite. 

Meanwhile, Serbia says it might be joining the BRICS rather than entering the EU. Is it really that important to get away from Croatians? Or is it more to do with the increasingly centripetal force of its Russia relationship? Luckily, Great Power competition in the Balkans has very few bad historical connotations. 

Finally, 153 Chinese military aircraft, plus drones and warships encircled Taiwan on Monday, as the Chinese python gave its rebel province a friendly squeeze. But this is more than just another shot across the bows. It’s a clue that far from the Private Ryan D-Day fantasy, the Chinese would choose to take the island by siege.

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