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Iranian Foreign Ministry: The mediators' job is to prevent the situation from escalating. We have been in contact with Qatar, Oman and Pakistan recently, and communication will continue.

2026-07-13

Iranian Foreign Ministry: The mediators' job is to prevent the situation from escalating. We have been in contact with Qatar, Oman and Pakistan recently, and communication will continue.

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2026-07-13

According to the Financial Times, serious divisions within the Bank of England's Monetary Policy Committee make it more difficult for the bank to rebuild its credibility after five years of inflation exceeding its target.

According to the Financial Times, serious divisions within the Bank of England's Monetary Policy Committee make it more difficult for the bank to rebuild its credibility after five years of inflation exceeding its target.
2026-07-13

South Africa plans to rebuild a strategic petroleum reserve to mitigate supply risk, the Minerals Resources and Energy Department (DMRE) said in a July 9 draft policy paper for public comment. DMRE estimates a current shortfall of about 10 mln bbl an

South Africa plans to rebuild a strategic petroleum reserve to mitigate supply risk, the Minerals Resources and Energy Department (DMRE) said in a July 9 draft policy paper for public comment. DMRE estimates a current shortfall of about 10 mln bbl and proposes a 60-day buffer—roughly 36 mln bbl based on EIA’s estimate of 600,000 bpd—split about two-thirds crude and one-third products. National Treasury and the state oil company will design financing and guarantee mechanisms for the reserve. Under the plan, licensed wholesalers and importers would be required to hold stocks equivalent to 21 days’ demand. South Africa last expanded emergency stocks in the 1970s with the Saldanha Bay facility (capacity ~45 mln bbl).
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