#GenEric1stclFuture

India will partner with the United Arab Emirates to expand its strategic crude and gas reserves, a key step for the world’s third-largest oil consumer to guard against future supply disruptions.

Investors shed government bonds around the world, propelling borrowing costs to multi-year highs from Japan to the US amid intensifying fears that war-driven inflation will force central banks to pursue higher interest rates.

From Bloomberg: Bond Investors Can’t Escape the Relentless Pressure From Oil Prices

The dollar is heading for its best week in two months after US data showed price pressures that could push the Federal Reserve to raise interest rates over the next year.

Morgan Stanley remains bullish on South Africa’s longer-term reform trajectory even as a global oil shock challenges the economy, fans inflation and may trigger higher interest rates.

The United Arab Emirates will double its capacity to export crude oil bypassing the Strait of Hormuz by 2027, as it seeks to reduce reliance on the shipping chokepoint whose closure in the Iran war has upended global markets.

The Bank of Korea’s newest board member highlighted mounting inflation and financial-stability risks tied to the Middle East conflict, housing prices and capital flows in his inaugural remarks Friday, reinforcing expectations the central bank is moving…

Emerging-market stocks and currencies declined after two consecutive sessions of gains, pressured by rising oil prices and a cautious mood among investors ahead of the weekend.

US Treasuries slid with global peers as persistently higher oil prices threatened to worsen inflation and keep interest rates elevated for longer.

India’s state-run oil refiners raised gasoline and diesel prices for the first time in four years to limit their growing losses and tame domestic demand, as global crude prices remain high due to the Middle East conflict.

President Donald Trump said his Chinese counterpart Xi Jinping likes the idea of buying more US oil, as the leaders meet in Beijing.

Oil headed for a weekly gain as the crucial Strait of Hormuz remains effectively closed, with efforts to end the war in limbo and disruptions that have upended global markets set to linger.

Trafigura Group and Phillips 66 are the leading recipients of US government waivers allowing the use of foreign-flagged tankers to ship oil, fuel and other cargoes between domestic ports.

The oil shock from the Iran war is set to give a lasting boost to government bonds from energy-producing developing nations, according to Christopher Hays, whose fund at TCW Group Inc. is beating its benchmark and most peers this year.

Key OPEC+ members aim to continue a series of oil quota increases over the next few months, completing the return of a layer of halted production — if only on paper — by the end of September, delegates said.

Chinese President Xi Jinping opposes efforts to charge a toll to navigate the Strait of Hormuz and is interested in purchasing more US oil to reduce its dependence on the waterway in the future, according to a White House official.

The European Central Bank will need to raise borrowing costs if an increase in crude prices feeds through to inflation expectations, according to Governing Council member Martins Kazaks.

Oil steadied ahead of a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping, which is being held against the backdrop of the Iran war that shows no signs of a near-term resolution.

The Iran war is throwing a niche corner of the oil market into disarray as fallout from scrambled supply chains for the commodity reaches all the way to the automotive maintenance and industrial sectors.