What is the TACO trade and are investors profiting amid war on Iran?
Al Jazeera
Global energy crisis continues to widen amid market volatility, while so-called ‘TACO traders’ attempt to capitalise.
The whirlwind of uncertainty in the oil markets has continued this week as the United States-Israel war on Iran approaches the one-month mark.
The Strait of Hormuz remains effectively closed, and the impact of the global energy crisis is broadening. From Asia to Europe and beyond, the economic outlook is darkening.
On Wednesday, Japan began its biggest release of national oil reserves – some 80 million barrels will be given to refiners, enough for 45 days. The country imports 90 percent of its crude oil from the Middle East.
On Thursday, the Organisation for Economic Co-operation and Development (OECD) warned the conflict would damage the United Kingdom more than any other major economy, predicting that inflation would hit 4 percent this year.
Speaking at a meeting of G7 foreign ministers in France, UK Foreign Secretary Yvette Cooper said Iran cannot be allowed to hold the global economy hostage.
Rights groups say new law restricting asylum will put thousands ‘at risk of persecution, violence and precarity’.
US Secretary of State Marco Rubio said the US expects its military operation in Iran to conclude in weeks, not months.
Upon leaving France, Rubio reiterated President Donald Trump’s call for other countries to participate in securing the Strait of Hormuz.
The vigilante group Handala Hack Team said that it had successfully gained access to Patel’s personal email account.
Iranian football players laid backpacks on a football pitch in Turkey to pay tribute to the children killed in a US-Isra
The teacher had spent two years documenting pro-war propaganda at a school before smuggling footage out of Russia.
Displaced Lebanese families ‘living in constant fear’ under Israeli bombardment, warns UN Refugee Agency official.
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Norway, as well as other NATO countries, has been under pressure from the US to boost defence spending.