Oil prices hit 7-year highs as tight supply bites

13 Sept 11:10 Key points summarised by AI

Benchmark oil prices surged to 7-year highs, with Brent and WTI crude futures climbing above 2014 levels.
Supply concerns escalated due to recent Houthi attacks in the UAE, threatening Mideast Gulf oil infrastructure and tightening the global outlook.
Geopolitical tensions, particularly between Russia and Ukraine, further fueled price premiums in the oil market.
OPEC+ members' struggles to meet production quotas, stemming from underinvestment and outages, exacerbated the already tight global supply.
Analysts predict continued market tightness, forecasting OECD inventories to hit 2000 lows and Brent prices to potentially reach $100 later this year.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.