Is Taiwan The Only Leverage The U.S. Has In Getting China To Toe The Line In Ira
China Coking Coal Prices Set for Record 46% Monthly Surge Simon Watkins is a former senior FX trader and salesman, financial journalist, and best-selling author.
He was Head of Forex Institutional Sales and Trading for… There is always a winner in any major global oil crisis.
In 1973/74, it was Saudi Arabia and its OPEC brothers who shifted the balance of power in the market away from the previous arrangement dominated by the West’s ‘Seven Sisters’ to the oil producers of the Middle East.
After the 2014-2016 Oil Price War, it was the U.S.
whose earlier nascent shale oil sector resisted the threat to its very existence from Saudi Arabia and OPEC, reorganising into a meaner, leaner, lower-cost oil production machine.
was the winner again in the short-lived 2020 Oil Price War, and this, along with all the other major crises mentioned, is analysed in full in mylatest book on the global oil markets.
The latest rupture in the global oil market order that followed the U.S.’s ‘Operation Epic Fury’ against Iran that began on 28 February has also produced a clear winner.
It is neither the U.S., Saudi Arabia, nor the other OPEC states -- it is China.
So, how inclined will Beijing be to heed Washington’s newly announced sanctions on Iran ahead of the meeting of its President Xi Jinping with U.S.
counterpart Donald Trump on 24 September at the White House? The sanctions in question were announced on 20 August by U.S.
Treasury Secretary Scott Bessent, who stated they would be “the toughest sanctions in history” on Iran, under the umbrella of ‘Economic D-Day’ for the country.
The direct sanctions on Iran aim for the complete financial isolation and economic shutdown of the regime by cutting off all domestic and international revenue streams.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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