Fatih Birol, head of the International Energy Agency (IEA), has warned that the ongoing war in the Middle East has made the situation “very serious,” even more so than the two oil crises of 1973 and 1...
Economy
Gold slid more than 5% on Monday, reaching its weakest level of 2026, Reuters writes. Spot gold fell 5.8% to $4,226.16 per ounce. The metal dropped more than 10% last week, its worst week since Febr...
Iranian attacks have knocked out 17% of Qatar’s liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, Qatar...
European Union foreign policy chief Kaja Kallas said on Tuesday diplomatic ways have to be found in order to keep the Strait of Hormuz open, Reuters writes. “Nobody is ready to put their people ...
Gulf Arab states did not ask the US to go to war with Iran, but many are now urging it not to stop short by leaving the Islamic Republic, Reuters writes, citing sources. “There is a wide feeling acro...
US President Donald Trump was warned that attacking Iran could trigger retaliation against US Gulf allies despite his claims on Monday that Tehran’s reaction came as a surprise, Reuters writes, citin...
Oil prices have risen in global markets. The price of WTI (Nymex) crude oil increased by 1.04%, reaching $97.85 per barrel. The price of Brent (ICE) crude oil rose by 1.56%, reaching $104.75 per barre...
California Governor Gavin Newsom criticized President Donald Trump in response to his post about rising oil prices. In the social media post, Trump had said: “The United States is the largest Oil Prod...
The Azerbaijani government has stated that exports of Azerbaijani oil products to Armenia are purely commercial in nature. This is reflected in the “2025 Report on the Activities of the Cabinet of Min...
In kitchens across India, hot food and drinks – even tea – are disappearing from the menu in place of fast food and lemon water as the Middle East conflict creates a nationwide shortage of cooking g...
The closure of the Strait of Hormuz could have serious consequences for the global economy, including inflation and the risk of a worldwide recession, former World Bank Vice President Ismail Serageldi...
Three vessels have been hit by unknown projectiles in the Strait of Hormuz, maritime security agencies and sources said on Wednesday, as one of the strikes led to a fire onboard a ship and forced mo...
