Reuters forecasts Brent crude to average $82.56/barrel in 2024, a slight increase from last year s $82.17. Despite global growth concerns, heightened US military activities in the Middle East like in Syria and Iraq may elevate oil prices.
The Italian navy will "in the coming hours" send one of its frigates to help protect the Red Sea shipping route against attacks by Yemen's Houthi militants, Italy's defence ministry said on Tuesday. The attacks, a response to Israel's assault on the Gaza Strip, target a key supply link between Asia and Europe, driving up the cost of shipping as companies seek alternative maritime routes and threatening the global economy. "Italy will do its part, together with the international community, to counter the terrorist destabilisation activity of the Houthis," Defence Minister Guido Crosetto said after a video call with U.S. Defense Secretary Lloyd Austin.
Have you ever wondered how a pinch of spice, something we often take for granted in our kitchens, sparked a revolution that reshaped the course of history? The European Spice Trade, a captivating story of daring voyages, high-stakes competition, and unimaginable wealth, was made possible by a series of If I told you that these
China s maritime strategy, backed by significant port investments, cements its global trade dominance, extending influence to key shipping lanes. This strategic network, part of the Belt and Road Initiative, spans the Indian Ocean to Europe, highlighting both commercial and economic impacts.
China announces the third Belt and Road Forum for International Cooperation in October, marking the 10th anniversary of the global infrastructure initiative