Iran declares war with US and Israel ‘officially over’ as oil prices ease
Foreign minister Abbas Araghchi said the conflict had ended on all fronts.
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Oil ships begin moving through Strait of Hormuz as US-Iran truce takes shape
Washington and Tehran reached a preliminary agreement on June 14 to halt hostilities and reopen the waterway.
Trump threatens to seize Iran’s Kharg Island and take ‘total control’ of its oil
The US Navy has imposed a blockade on Iranian ports that has sharply reduced exports.
US and Iran reach tentative ceasefire deal as Europe eyes the Strait of Hormuz
The emerging memorandum of understanding would pause the fighting while both sides negotiate over Iran's nuclear programme, sanctions relief and regional security.
ECB warns oil shock could force rate hike in June
Alexander Demarco said hopes that the eurozone could ride out the energy spike were "fading" and that he expected the conflict,
Sweden warns of potential jet fuel shortage
Sweden's government warned today of a potential jet fuel shortage in the Scandinavian country due to supply disruptions caused by the Middle East war and the closure…
Fuel crisis: Governments and private sector profit while workers pay price
The European Union is witnessing growing fuel chaos as a temporary ceasefire in the Iran conflict, and the partial reopening of the Strait of Hormuz briefly eased…
Jet fuel recovery to take months even after Hormuz reopens, warns IATA
The head of the International Air Transport Association (IATA) has cautioned that global jet fuel supplies are unlikely to return to normal for several months, even…
Middle East war: global economic fallout
Here are the latest economic events in the Middle East war:
Leading European nations and Japan signal they want to help keep Strait of Hormuz open
Leading European nations and Japan have signalled readiness to support efforts to ensure safe passage through the Strait of Hormuz.
German investor confidence plummets amid Mideast war: survey
German investor morale has plunged to its lowest level in almost a year as the Mideast war rattles market nerves in Europe's largest economy, said a ZEW survey released…
The Hormuz crisis is about much more than oil
The Western public has been conditioned to think of energy crises in terms of petrol prices and heating bills.
Sharp rise in fuel prices forces Germany to release oil reserves
Germany has authorised the partial release of its national oil reserves to mitigate the sharp rise in oil and fuel prices triggered by the ongoing conflict in Iran,…
The Great Game of Oil: Why Iran is about leverage not liberation
Within seventy-two hours of Operation Epic Fury, the joint US-Israeli strike on Iran, Tehran had retaliated across the entire Persian Gulf.
Who will benefit from Venezuelan oil?
The US intervention in Venezuela reopened a question that goes beyond geopolitics: Who stands to gain if the country’s oil sector is revived — and who does not?
Dollar shows no sign of being replaced, despite Middle East strikes
The US bombing of Iran’s nuclear sites confirmed what markets had already priced in: Even amid war, volatility, and mounting distrust in Washington, the dollar…
Spooked by Middle East war, investors quietly return to Europe
Amid escalating conflicts in the Middle East, an unexpected trend has emerged: Investors are quietly moving their money back into European markets.
European stocks drop as US recession worries spark global selloff
European shares fell to near six-month lows amid a global selloff in equities on fears of a slowdown in US economic growth, with only a handful of stocks trading…
Tankers continue Red Sea run despite Houthi rebel raiders
Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants,…
Spot container shipping rates soar 173 per cent on Red Sea diversions
Short-term rates for container shipping between Asia, Europe and the US are climbing on reduced capacity caused by the ongoing threats to cargo vessels in the Red…
Red Sea terror attacks could undo fight against Eurozone inflation, experts say
Terror attacks on Red Sea shipping lanes could reverse recent efforts to curb inflation in the European Union, economic experts have said.
Houthi attacks start shutting down Red Sea merchant shipping
Shipping in the Red Sea is grinding to a halt with oil tankers idling and container vessels rerouting around Africa as violence linked to the Israel-Hamas war threatens…
Oil jumps, stocks drop on Middle East conflict: markets wrap
Oil surged more than five per cent and investors sought safety in gold, bonds and the dollar after Hamas’s surprise attack on Israel sparked fears of a wider…
International Energy Agency foresees record oil demand and prices going up
The International Energy Agency's (IEA) latest Oil Market Report (OMR) predicts global oil demand to expand by 2.2 million barrels per day (mb/d) to 102.