Energy shipments through the Strait of Hormuz – a narrow shipping lane that has become a flashpoint since Israel and the US attacked Iran in February – have virtually ground to a halt. Iran has used …
War dents Saudi’s efforts to diversify economy
The Iran war is undermining Saudi Arabia’s efforts to diversify away from oil, while boosting the kingdom’s oil revenues.
Iran, US-Israel war LIVE updates: US says ‘slight progress’ in Iran talks amid uncertainty over ceasefire
Tensions around the Iran conflict remain high as Donald Trump says the US is close to a deal but warns military action could return if talks fail. Iran has accused Washington of preparing fresh …
Turkey sacrifices American treasury holdings in defence of lira amid Iran war
By Akin Nazli in Belgrade Turkey’s central bank has offloaded its US Treasury holdings in a reconfiguration of its FX liquidity position amid the latest chapter of the Iran War. The move can be seen …
Oil prices could spike next week without Iran deal: GasBuddy
GasBuddy’s head of petroleum analysis Patrick De Haan on Wednesday said there could be a jump in gas prices next week if the U.S. and Iran do not reach a deal to reopen the Strait of Hormuz. De Haan …
Scott Bessent sends strong message on Iran finance to G7
The Treasury chief delivered a hard-line ask in Paris that could ripple from oil tankers to your gas tank.
India Prepares to Send Oil Tankers Through Hormuz for New Supply
India is preparing to send vessels through the Strait of Hormuz to load up energy cargoes from suppliers in the Middle East, according to people familiar with the matter, the first time since the Iran …
Iraq exported 10 million barrels of oil through Strait of Hormuz in April
Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war, the country’s new oil minister, Basim Mohammed, said at a …
Controlled reopening ends Iran’s lengthy stock market shutdown
Stocks in companies hit by US and Israeli strikes, such as energy and steel firms, didn’t take part in the reopening.
Heat exhaustion hits Bangladesh garment workers amid power cuts
Energy cuts tied to the Iran conflict forced factories to switch off cooling systems as temperatures hit 37C with high humidity.