Commodities
China Balances Energy Stakes Amid Escalating Iran War
The ongoing Iran war has led to increased tensions and disruptions in global oil routes. A recent drone strike on Egypt's Mediterranean coast, targeting a US-owned floating storage tanker, highlights the escalating situation.
According to Reuters, President Trump vowed to 'beat the fucking shit' out of Iran for firing on US troops, indicating the fragile state of the recent pause in hostilities.
China is quietly working to protect its crude lifeline, reportedly reaching out to Yemen's Houthis over safe passage through Bab el-Mandeb and providing air-defence hardware to Tehran.