The Trader 

Market Outlook: Iranian oil tanker hit in the Red Sea

The Trader

Sailing close to the Saudi Arabian coast at Jiddah, a sudden explosion damaged two storerooms on the unnamed ship, reports CNBC; as yet there is no word from the Saudis. Gasoline prices this week have soared in parts of California to $5 per gallon (in Los Angeles) as an unprecedented blackout organised by the bankrupt state utility PG&E, to protect its network from possible wildfires, means that solar panels aren’t working. In the US Midwest farmers are preparing for what could be an unprecedented massive snowstorm and blizzard this weekend. They’ve already suffered one of their worst ever planting seasons.

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