China's Foreign Minister announces that China and Russia are to strengthen their strategic partnership
China's Foreign Minister's announcement about strengthening the strategic partnership with Russia could indicate a deeper alignment in their geopolitical strategies, which may provoke concerns in the West, particularly regarding sanctions and trade dynamics.
South Korea is reportedly in negotiation with Iran to pass ships through Hormuz; "The South Korean Ship Owners' Association has also proposed to pay tolls for passing through the Strait of Hormuz to Iran as a short-term solution", Fars reports
Shell (SHEL LN) shuts down 200k bpd crude unit at its Dutch Pernis refinery, Reuters reports citing Genscape
China's Foreign Minister announces that China and Russia are to strengthen their strategic partnership
US Treasury Secretary Bessent says the Fed could observe before cutting rates and should wait until Chair nominee Warsh is in place
US President Trump posts "Europe is desperate for Energy, and yet the United Kingdom refuses to open North Sea Oil, one of the greatest fields in the World. Tragic!!! Aberdeen should be booming."
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This move might influence market sentiments, potentially benefitting safe-haven assets like gold or affecting energy prices, given the two countries' significant roles in global supply chains.
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