🛢️ LISBON — Shell just told Europe who's profiting. Portugal didn't wait for Brussels. 📌 LOOK CLOSER: Lisbon moves unilaterally while the EU debates windfall mechanisms shelved after 2022. Shell's 70% profit surge — publicly credited to US-Iran pricing — gave governments the political cover to act. Portugal's 33% rate sets a floor other EU members will now benchmark against. The pressure on Brussels to coordinate accelerates.
dailybrief
Iran is rebuilding ballistic missiles underground. Pickaxe Mountain back in focus. UN Security Council votes in three days. Brent above $102. Day 199 reveals none of the war's core objectives have truly been achieved.
dailybrief
Iran riproduce missili balistici sottoterra. Pickaxe Mountain torna al centro. Il Consiglio di Sicurezza ONU vota tra tre giorni. Brent oltre $102. Il giorno 199 rivela che nessun obiettivo della guerra è stato davvero raggiunto.
newsupdates
📉 ASIA — Oil shock exports to equities; rate hikes are doing Tehran's work for free. 📌 LOOK CLOSER: Asian markets falling as oil holds above $100 signals the second-order transmission: energy inflation forces central bank tightening, compressing valuations without any direct strike. For Japan, South Korea, and India — major
newsupdates
🇨🇳 BEIJING — Trump buries the China-Iran link the day Hormuz stays shut. 📌 LOOK CLOSER: Acknowledging Chinese entities helped Iran kill US troops forces a response against Beijing — one Trump won't make while Hormuz stays closed and trade talks are live. His dismissal protects the bilateral architecture at the