Gulf
4 stories from Middle East Affairs.
Bessent's claim that Hormuz will lose value faces skeptical analysts
U.S. Treasury Secretary Scott Bessent predicted the Strait of Hormuz would become "worthless" within two years as new pipelines divert energy exports, but energy analysts say the critical waterway will retain strategic importance for container shipping and liquefied natural gas.
Russian crude surges as China turns away from Middle East suppliers
Russian ESPO crude has surged to a $10-a-barrel premium over Brent as Chinese refineries turn to the Pacific-shipped oil amid disrupted Middle Eastern supplies.
Global bond yields spike to multiyear highs on debt concerns
Major government bond yields have surged to their highest levels in years, driven by rising inflation, swelling budget deficits, and increasing borrowing needs among developed economies.
Global hubs depend on each other to weather crises, analyst argues
Leading economic centers form an interdependent network rather than competing in isolation, according to analysis of how the UAE and Singapore absorbed recent shocks.
