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- Oil has been on a tear this year, near $120 last month, on what most would likely attribute to hostilities in Iran and a battle to control the Strait of Hormuz. While there is no doubt that the geopolitical backdrop has provided fuel for this run (pun intended), my readers also know that current events […]
- The oil market is currently focusing on the wrong metrics. As is often the case during periods of transition, attention is centered on visible volumes — the so-called “lost barrels” — while the true disruptive factor lies elsewhere, far more insidious: time. As long as the disruption is perceived as short-lived, the system remains stable. […]
- A two-week ceasefire has just been signed between the United States and Iran. The agreement appears fragile — we’ll have to wait and see — and the risk of a resurgence in inflation remains, particularly in Europe. In a statement released on April 5, OPEC+ warned that repairing the energy infrastructure damaged in recent attacks […]
- The year 2026 is expected to mark the end of an era. The intervention in Venezuela was presented as an operation to combat drug trafficking; the war in Iran, as a preventive measure. At the heart of both conflicts lies a double standard that has been in place for over half a century. This imbalance […]
- The Bank of France (BdF) has quietly completed the repatriation of French gold still held in the United States, bringing to an end nearly a century of partial storage abroad. The operation covered 129 tonnes of precious metal — around 5% of the country’s total reserves — previously held at the Federal Reserve Bank of […]