The promise and peril of Venezuela’s liquid gold
South American country’s crude is a thick, black sludge that is more expensive to produce than lighter oil
Economic news
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Brevan Howard profits slump as hedge fund misses out on macro trading boom
Profits available to be shared by partners fell by a fifth to £61mn for year to March 2025
Trump’s Venezuela action raises threat for China’s oil supplies
Chinese producers fear similar US intervention in Iran would disrupt access to discounted crude supplies
Huge copper shortage to pose ‘systemic risk’ to global economies, warns S&P
Data group forecasts deficit of 10mn tonnes by 2040, equivalent to nearly one-third of current global demand