
Chris Stephen
55.6K posts

Chris Stephen
@reportingLibya
Author: The Future of War Crimes Justice (2024) Judgement Day: The Trial of Slobodan Milosevic (2006) War correspondent The Guardian + other media




UPDATE: China says peaceful reunification will solve Taiwan's energy crisis amid Iran war 🔴 LIVE updates: aje.news/fs4nzb?update=…



Former CENTCOM Commander General Joseph Votel: "I think the worst case now would be if we’ve found positive evidence of the Strait being mined… That would really extend out the time [for opening the Strait]. We probably have to assume that there are mines in there right now. But a serious mining effort by Iran could really complicate and slow things down." twz.com/news-features/…







US Secretary of Defense Hegseth: Munitions being called for shipment to Ukraine would be better used "in our own interests."








Quite the lede from The Economist: and quite the cover. “Although President Donald Trump says he has “destroyed 100% of Iran’s Military Capability”, the 0% that remains is playing havoc with the global economy.” And now quite the cover: @glcarlstrom


🛢️ A lot of noise on oil prices right now 5 benchmarks, 5 stories but 1 chokepoint. Brent The world's default price. When the news says "$108 oil," this is what they mean. WTI The US benchmark. Lowest on the chart. American crude never touches Hormuz. Murban Abu Dhabi crude, out of Fujairah. Technically bypasses the Strait but drone strikes on the port have sent insurance costs soaring. Oman The Asian heavy crude benchmark. Chinese, Japanese & Korean refiners are built specifically for this grade. Highest on the chart. Buyers are fighting over a shrinking pool. Dubai Prices most long-term Gulf→Asia contracts. Tells you exactly how hard Asian markets are being squeezed. In late February these 5 lines were within $6 of each other. The WTI–Oman spread is now over $50. Since Feb 28, Hormuz has effectively closed. Daily transits: from ~138 ships historically to fewer than 5. The IEA called it the largest energy supply disruption in history. Japan gets 95% of its crude from the Gulf. China: 45% via Hormuz. The emergency reserve release covers 4 days of global consumption. The spread on this chart is a map of who's getting crushed. Read the full breakdown 👇 themerchantsnews.substack.com/p/what-happens… The Oil War Will End butThe Supply Shock Won't #oott


📽️ There have been many scary, unnerving days in this latest Gulf war. But the past 24 hours was particularly bad. Why? Because both sides are now causing lasting damage to the world economy's life support system. Our latest primer on the econ consequences of this war👇


1/ Denmark was reportedly preparing for full-scale war with the US over Greenland in January, with military support from France, Germany, and Nordic nations. Elite troops and F-35 jets with live ammunition were sent, and runways were to be blown up to prevent an invasion. ⬇️




⬆️On Friday morning EU Carbon price jumped 6% above €67 after the EU Council discussions assured #EUETS intervention measures will be short-term, and the new ETS Investment Booster of 30 billion (from selling 400 million EUAs) implies an avg price expectation of €75/t








