Malcolm Moore retweeted
In an interview with the FT, Ukrainian President Volodymyr Zelenskyy said his country will restart strikes on Russia’s oil refineries. “The block [on attacking refineries] is out. We’re done,” Zelenskyy said.
ft.com/content/4d79b52f-1f0d…
What will Big Oil do with all its extra cash this year? ft.com/content/9d70cd3f-abd3…
Malcolm Moore retweeted
if the confrontation returns to full-scale war, escalation is likely to be rapid, dramatic, and potentially far more dangerous than anything we witnessed during the previous conflict.
The red lines that constrained both sides during the last war could collapse almost immediately. We should not assume that another confrontation would begin with gradual escalation, carefully calibrated retaliation, or attempts to signal intentions while avoiding a broader conflict.
The Next War with Iran Could Escalate Almost Immediately, and Far Beyond the Previous Conflict
One thing has become increasingly clear from Iran’s behavior in recent weeks: if the confrontation returns to full-scale war, escalation is likely to be rapid, dramatic, and potentially far more dangerous than anything we witnessed during the previous conflict.
The red lines that constrained both sides during the last war could collapse almost immediately. We should not assume that another confrontation would begin with gradual escalation, carefully calibrated retaliation, or attempts to signal intentions while avoiding a broader conflict.
Quite the opposite. Once either side decides to return to high-intensity warfare, the conflict could escalate dramatically from the very beginning.
Even if the next war lasts fewer than 39 days, its intensity could be significantly greater from day one, as both sides seek to apply the lessons they believe they learned from the previous confrontation.
From Tehran’s perspective, this could mean expanding the geographical boundaries of the conflict, targeting critical infrastructure, including undersea internet cables, and potentially even considering limited ground operations toward Kuwait.
These are not inevitable outcomes, but they are scenarios that should no longer be dismissed.
The fundamental danger is that the next war may not follow the familiar pattern of action, retaliation, and gradual escalation. Instead, both sides could move almost immediately toward their most aggressive military options, believing that the lessons of the previous war demand precisely that approach.
The next war with Iran may be shorter than the last one. But it could also be far more intense, destructive, and difficult to contain from the very first day.
#iran
Malcolm Moore retweeted
CFTC staff analyzing oil trades for insider trading around the U.S.-Iran war were told to retract their referral to the agency's enforcement division | h/t @CGorrivan bloomberg.com/news/features/…
Malcolm Moore retweeted
Some 10% of Britain’s population is on at least one sickness and disability benefit.
The bill is on track to hit £130 billion by 2030.
It’s a scandal that is hamstringing politicians and inching the U.K. toward a fiscal reckoning. W/ @davidluhnow
wsj.com/world/uk/united-king…
IEA confirms the 100mn strategic stock release announced last week contains nothing new..."The full release of all the stocks that had been pledged but have not yet been released from the March 2026 Collective Action would bring approximately 100 million barrels to the market."
This is the G7 statement on releasing diesel stocks. Note that it doesn't actually say how much diesel will be released. elysee.fr/emmanuel-macron/20…
It says there will be 100mn barrels, "including a frontloaded substantial diesel release within the first 20 days by G7 members and partners".
Malcolm Moore retweeted
New: Billionaire financier Todd Boehly has secured the backing of the US and Gulf power brokers with ties to the Trump family to bid for the international assets of Russia’s sanctioned oil major Lukoil.
with @MalcolmMoore @leee_harris @ArashMassoudi
ft.com/content/152aa77b-977f…
Malcolm Moore retweeted
The PISA 2025 results are out today. Some quick insights.
- The major story is very significant global decline. The last PISA study was in 2022, and saw big declines in reading and maths scores from 2018. Obviously the pandemic played a part.
- But this 2025 round has seen further falls even from the 2022 lows!
Things haven't gone back to normal post-pandemic - they've got worse.
Every generation thinks the generation below is less smart - but this time they might be right!
What global trend could have caused kids' scores in science, maths and reading to collapse from 2015 onwards, I wonder?
Malcolm Moore retweeted
New PISA data out
England is now top ten in all three areas (reading, maths, science) and the second highest performing country outside of east Asia (after Estonia).
This is a huge public policy success.
Malcolm Moore retweeted
Vitol has seized on the Iran crisis to dominate East Africa’s fuel supplies -- at a cost, a Bloomberg investigation has found
@megacontango @pburkhardt
bloomberg.com/news/features/…
Libya wants billions in foreign investment to revive its oil industry.
→ It may give better terms to oil majors
→ K2 and KBR will be external auditors amid corruption concerns
→ UCC won a major contract without competitive bidding
With @hebamks as.ft.com/r/c9c81ba8-3d90-47…
Malcolm Moore retweeted
“A manager at a major European lubricants producer said the situation remained fluid.”
World’s largest carmakers seek to avert motor oil crisis ft.trib.al/mP77HLn
New York Times style guide strips @CountBinface of his title and demotes him to Mr Binface.
Elsewhere in the NYT, Count Dracula just becomes Dracula. What about Count von Count? nytimes.com/1972/08/27/archi…












