Economy
Asia Stopped Debating Oil Prices. It Started Rationing Fuel.
Bangladesh stationed troops at oil depots. The Philippines cut the work week to four days. Nepal is rationing cooking gas. Three weeks in, Asia is in emergency mode.
Economy
ADNOC Can’t Ship Its Own Gas. Goldman Says Gulf GDP Could Drop 14%.
ADNOC cut LNG production because tankers cannot transit Hormuz. Goldman projects Qatar and Kuwait GDP down 14 percent if the war runs through April. Trump's deadline expires Monday.
Economy
The US Just Lifted Sanctions on Iranian Oil. It Is Also Bombing Iran.
The US lifted sanctions on 140 million barrels of Iranian oil at sea while bombing Iran. Brent closed at $112.19. The administration has run out of levers.
Economy
Four Central Banks Froze Rates in 48 Hours. The Easing Cycle Did Not Survive the Third Week of War.
The Fed, BoE, ECB and BOJ all froze rates within 24 hours. The BoE voted 9-0 for the first time since 2021. Markets now price hikes, not cuts. The cycle is over.
Economy
Iran Just Knocked Out 17 Percent of Qatar’s LNG Capacity. Repairs Will Take Up to Five Years.
Iran struck Ras Laffan and knocked out 17% of Qatar's LNG capacity for 3-5 years. The $20B annual revenue loss has no substitute. Global LNG has zero slack.
Economy
Eurozone Industrial Output Just Fell for the Second Straight Month. The Energy Shock Has Not Even Landed Yet.
Eurozone industrial output fell 1.2% year-on-year in January as Goldman cut growth to 1%. The ZEW crashed 58.8 points. The energy shock has barely started.
Economy
Four Central Banks, One Week, Zero Answers on Oil
The ECB and Bank of England both decide on March 19. Both hold. The ECB releases updated staff projections - the first since Hormuz closed.
Asia Pacific
China Set Its Lowest Growth Target Since 1991. The Number Is the Least Interesting Part.
China set its lowest GDP growth target since 1991 at the NPC on March 5. The 15th Five-Year Plan reveals more than the number. Here's what the document actually argues.
