North Korea is apparently sending 10,000 troops to assist in the Russian invasion of Ukraine, as per Bloomberg, and last week, Russian missiles hit a cargo vessel in Odesa, the fourth such attack this month (including one that reportedly killed a Ukrainian national). None of this seemed even remotely likely three years ago, when the oil price also stood at close to US$70 and the world was a much more peaceful place. Markets seem to be ruling out any Israeli attacks on Iranian oil facilities, or that the Iranians will attempt to close the Straits of Hormuz, however. This may yet prove wishful thinking, as the last four years have shown how, in the words of famed baseball player Yogi Berra, “it's tough to make predictions, especially about the future.”What lessons can we learn?

Source: The North Africa Journal October 21, 2024 04:55 UTC