US strikes on Iran and the Islamic Republic's regional retaliation creates new risks for a significant chunk of the world’s oil supply. Analysts are closely watching developments on the Strait of Hormuz as well as the Kharg Island terminal in the northern Gulf – Iran’s main logistical hub where there were reports of an explosion on Saturday.
China’s solar power generation overtook wind for the first time last year as a boom in cheap panels continues to reshape the country’s grid and climate trajectory.
Saudi Arabia’s biggest oil shipper provisionally hired at least five supertankers, adding to demand for the giant ships at a time when their booking costs are soaring.
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