The market’s relationship with Middle East risk has abruptly changed character. What had long been treated as a tail-risk that flared and faded is now being priced as a central macro variable, because the weekend’s U.S. and Israeli strikes on Iran have injected both wartime uncertainty and a regime-succession question into the same shock.

Investors are reacting not only to the immediate consequences, but to the fact that the next steps inside Iran’s political system are inherently opaque, which makes it harder to bound the duration and intensity of the conflict.

European authorities have allocated up to €370 million ($400 million) to support the establishment of a ‘Green Hydrogen Valley’ in Italy’s southern region of Puglia. This initiative involves Italian energy company Edison (part of EDF Group), energy contractor Saipem, and Sosteneo SGR (the green…

Brazil’s junior critical minerals players are moving to organize politically and financially at a moment when the country is trying to reposition itself from a raw-materials supplier to a value-added powerhouse in the energy transition.

A group of nine smaller companies active in Brazil’s critical minerals space, among them rare earths developers Aclara Resources and Meteoric Resources, and lithium producer Pilbara Minerals (PLS), are setting up a new lobby group, the Associação de Minerais Críticos (AMC). This association will stand alongside, but distinct from, the powerful existing industry body Ibram, which speaks for the large, established miners responsible for the vast majority of Brazil’s current production.