Wednesday, September 30
Before Israel struck Iran on June 13, Brent crude was hovering around $69 per barrel. The attack — followed by US involvement over the weekend — briefly pushed prices up by about $10. Yet, the rally quickly fizzled out, as markets interpreted America’s role as a sign that Iran was unlikely to escalate. When Iranian missiles aimed at a US base in Qatar caused no damage, traders read it as another sign that Tehran was looking to wind down tensions. Traders noticed a familiar pattern from Iran — launching attacks aimed less at inflicting damage and more at appeasing its domestic audience. The ceasefire announced on Tuesday put a final lid on fears of disruptionSTRONG MARKET FUNDAMENTALS Today’s oil market is far more resilient than in the past. A year ago, crude was trading around $
Top thermal coal importers China and India are slashing Indonesian shipments of the power generating fuel in favour of energy-dense grades from elsewhere as a global fall in prices has made higher-quality coal more competitive. Coal purchases by China and India from Indonesia, the world's biggest exporter, are dropping faster than their overall thermal coal imports, as both nations shift toward higher-calorific value (CV) coal that yields more energy per ton, industry officials say. "Higher CV coal is more expensive, but produces more energy for every dollar spent at current prices. One million tons of higher CV coal can replace 1.2-1.3 million tons or even 1.5 million tons from Indonesia," said Vasudev Pamnani, director at India-based coal trader I-Energy Natural Resources. In China, Indo
