Gulf states lose $15bn in energy revenues since start of war
Millions of barrels of crude oil remain trapped by shutdown of the Strait of Hormuz
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Ultra-short-term bets add ‘even more mania’ to crypto trading
Five and 15-minute contracts have surged in popularity as cryptocurrencies have fallen from recent peaks
Iran war tests Xi’s plan to build China’s stockpiles
Beijing has driven major increase in strategic commodity inventories but their scale remains unclear
US to ease Russian oil sanctions as energy prices soar
Move by Treasury comes after escalating crisis in Gulf sends Brent above $100 again
US to temporarily allow countries to buy Russian oil stranded at sea
Decision by Treasury comes after Brent settled above $100 for first time since 2022 and a day after historic IEA release
Why China’s renminbi push matters even if it never rivals the dollar
If renminbi settlement becomes cheaper and more trade migrates, firms will have less need to generate or hold US currency