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The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins The towns that are the bulwark of China’s energy security can, at a moment of global crisis, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boarded-up shops in crumbling low-rise buildings hint at a long-forgotten local buzz.A ramshackle noodle shop serving hand-pulled ribbons of dough was empty at lunchtime, save for a few construction workers and a teacher watching videos on Douyin, the social media platform, with his meal. Continue reading...

Mohammed bin Salman said to consider war a ‘historic opportunity’ to remake Middle East. Plus, Senate passes funding package for Homeland Security that excludes ICEGood morning.Saudi Arabia has urged Washington to intensify attacks on Iran, a Saudi intelligence source has confirmed, while it considers whether to join the war directly.Have there been reports of active Saudi military involvement? Not so far. But a Saudi analyst said the kingdom was likely to intervene if peace efforts led by Pakistan failed. Mohammed Alhamed said: “If [Iran] rejects the conditions and continues its attacks, the threshold for Saudi action will be crossed.”What is the latest on the strait of Hormuz? On Tuesday, Tehran said it would permit “non-hostile vessels” to pass: here is a visual guide.For the latest updates, follow our live blog.Why has there been no DHS funding? Democrats have blocked it as they demand changes to its immigration crackdown, particularly after agents in Minneapolis killed the US citizens Renee Good and Alex Pretti. Continue reading...

Crown Prince Mohammed bin Salman said to view US-Israeli war as ‘historic opportunity’ to remake Middle EastMiddle East crisis – live updatesSaudi Arabia has urged the US to ramp up attacks on Iran, a Saudi intelligence source has confirmed, while it is weighing a decision on whether to join the fight directly.The Saudi source confirmed reporting in the New York Times, which said the kingdom’s de facto leader, Crown Prince Mohammed bin Salman, has urged Donald Trump not to cut short his war against Iran, and that the US-Israeli campaign represented a “historic opportunity” to remake the Middle East. Continue reading...