NEW: In response to the blockade of the Strait of Hormuz, former US House Speaker Newt Gingrich calls for a “dozen thermonuclear detonations” to create “a waterway wider than the Panama Canal, deeper than the Suez, and safe from Iranian attacks.”
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NEW - Ireland's President urges "global citizens" to acknowledge their "shared responsibility" to invoke St. Patrick’s spirit, by standing in solidarity with migrants and to recognise "the invaluable contributions" they make
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There's more action, suspense and human interest in this video of a cat defending the top bunkbed from another cat than you'll find in the entire Marvel extended universe of films
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JUST IN: Russian Foreign Minister Lavrov demands US and Israel immediately end the war on Iran
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Fuel prices are skyrocketing across the world:
Fuel oil prices in Singapore, the world's most important refueling port, are up to a record $140 per barrel.
This marks a +146% surge since the start of the year.
Prices have now surpassed the 2008 Financial Crisis and the 2022 energy crisis peaks.
In Fujairah, a key refueling port in the UAE just outside the Strait of Hormuz, prices are up to ~$160, with certain fuel types trading as high as $175 per barrel.
By comparison, WTI crude is trading at ~$195, meaning fuel oil carries a +40% to +75% premium over crude.
Typically, fuel oil prices track crude with a small premium for refining costs, but that relationship is now completely broken.
Elevated fuel oil prices are putting extreme pressure on the global economy.
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Fuel oil prices in Singapore, the world's most important refueling port, are up to a record $140 per barrel.
This marks a +146% surge since the start of the year.
Prices have now surpassed the 2008 Financial Crisis and the 2022 energy crisis peaks.
In Fujairah, a key refueling port in the UAE just outside the Strait of Hormuz, prices are up to ~$160, with certain fuel types trading as high as $175 per barrel.
By comparison, WTI crude is trading at ~$195, meaning fuel oil carries a +40% to +75% premium over crude.
Typically, fuel oil prices track crude with a small premium for refining costs, but that relationship is now completely broken.
Elevated fuel oil prices are putting extreme pressure on the global economy.
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JUST IN: Russia says US war with Iran is about gaining control of their energy resources.
"They just want to get their energy source, like they do from Latin America, the Caribbean, the Persian Gulf and other parts of our planet."
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"They just want to get their energy source, like they do from Latin America, the Caribbean, the Persian Gulf and other parts of our planet."
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Media is too big
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Neutral reporting and totally NOT election interference by German Green Party in Hungary.
Just calling Orban liar
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Just calling Orban liar
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Survivors of Iranian drone strike in Dubai arrested after telling loved ones they were safe - by sending them pics of the aftermath
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