President Trump on Sunday night said he has “no problem” with a Russian oil tanker off the coast of Cuba delivering relief to the island, which has been brought to its knees by a U.S. oil blockade. “We have a tanker out there. We don’t mind having somebody get a boatload because they need… they…
The Tokyo Tower stands amid buildings at dusk in Tokyo, Japan. Bloomberg | Bloomberg | Getty Images South Korea stocks fell sharply Monday, leading declines in the region as the Middle East war entered its fifth week. The benchmark Kospi plunged over 5%, while the small-cap Kosdaq was 3.97% lower. Japan’s Nikkei 225 fell 3.97%,…
HOUSTON — The CEOs of the world’s most influential oil and gas companies delivered a sobering message this week about the impact of the Iran war on energy supplies and the long-term consequences for the global economy. The executives gathered in Houston, Texas, for S&P Global’s annual CERAWeek energy conference to take stock of the…
As the United States-Israeli war on Iran enters its fourth week this weekend, pressure on oil and gas markets continues to mount due to severe disruption to shipping traffic through the Strait of Hormuz as well as attacks on and around key energy facilities in the Gulf. In peacetime, 20 percent of the world’s oil…
An oil tanker unloads crude oil at a terminal at the port in Qingdao, in China’s eastern Shandong province on March 11, 2026. – | Afp | Getty Images Chinese industrial firms saw their profits surge in the first two months of this year as officials pressed ahead with efforts to contain the fallout from…
President Donald Trump said Thursday that neither the spike in oil prices nor the slump in the stock market during the Iran war were as bad he had anticipated. In a Cabinet meeting, Trump expressed confidence in the war effort and said the economic damage will reverse. Addressing Treasury Secretary Scott Bessent, the president said…
Global oil prices recorded a sharp decline on Monday after Donald Trump stepped back from threats to bomb Iranian power plants. The development has sparked cautious optimism for the global economy threatened by the rising fuel prices. The sudden shift followed signals of diplomatic engagement between the United States and Iran, prompting markets to quickly…
A missile slammed into a street in central Tel Aviv as Iran kept up its barrages targeting Israel and Gulf Arab states on Tuesday, hours after President Trump said the U.S. was in talks with Tehran to end the war. Iran dismissed the claim of ongoing negotiations as “fakenews is used to manipulate the financial…
The treasury secretary says the move will quickly bring about 140m barrels of oil to global markets.
The attacks by the US and Israel on Iran, which started on 28 February 2026, upended key supply chains, driving oil prices above US$100 a barrel. The spike followed Iran’s closure of the Strait of Hormuz in response to the US and Israeli action. About 20% of the world’s oil supplies are transported through the…
