Yongchang Chin

Singapore’s central bank will roll out a revised framework for single family offices on June 15, making it easier for wealthy families to set up investment entities in the city-state while strengthening defenses against money laundering.

Existing single family offices in Singapore will be given a one-year transitional period to comply with the new framework.

No region of the world produces more oil and gas than the countries straddling the Persian Gulf. Most of this energy can only be exported aboard tankers that cross the Strait of Hormuz — a waterway that’s effectively been closed for more than three months since the US and Israel started a war against Iran in late February.

No region of the world produces more oil and gas than the countries straddling the Arabian Gulf.

Middle Eastern crude markets weakened as the US-Iran agreement to reopen the Strait of Hormuz spurred optimism around an increase in flows from the oil-rich region.

Buyers of crude from the Persian Gulf will want to make sure they are better prepared to cope with any future disruptions.

An impending wave of oil that’s been trapped inside the Strait of Hormuz is set to be unleashed on Asia, suddenly swamping a region that had managed to make up for lost supply in recent weeks.

Abu Dhabi National Oil Co. has told its customers to resume loading its crude oil from ports within the Persian Gulf, the company said in a notice sent to customers seen by Bloomberg and corroborated by multiple term lifters.

India’s state-run refiners have already secured enough crude for the next two months and are in no rush to resume purchases from the Middle East even if the Strait of Hormuz reopens to commercial traffic.

Die Abu Dhabi National Oil Co. hat ihre Kunden aufgefordert, die Verladung von Öl aus Häfen innerhalb des Persischen Golfs wieder aufzunehmen. Das geht aus einer Mitteilung an Kunden hervor, die Bloomberg vorliegt und von mehreren langfristigen Abnehmern bestätigt wurde.