Why Middle East Oil Risks Now Exceed US-China Tensions
IIF Deputy Chief Economist Ashok Bhundia suggests that low oil and diesel inventories near the Strait of Hormuz pose a greater global risk than US-China tensions. He warns that rising costs could lead to inflation and potential market shocks.
IIF Deputy Chief Economist Ashok Bhundia argues that dwindling oil and diesel inventories around the Strait of Hormuz present a more urgent global risk than US-China strategic competition. He warns that elevated crack spreads are driving cost-push inflation and could trigger a sudden market shock. (Source: Bloomberg)
READ NEXT
More on the wire
AI TLDR
Nikole Hannah-Jones critiques the state of public high school education, arguing that schools are failing to produce literate and numerate graduates.
AI TLDR
Senior residents at the NYCHA Chelsea projects are refusing to vacate their homes despite plans for the buildings to be demolished.
AI TLDR
Measles outbreaks in Pennsylvania, Ohio, and New York have led to exposures on public transportation and at sporting events. Health officials advise travelers to be aware of the risks.