DEVELOPING STORYDEVELOPING STORY, A huge increase in Pakistan’s fuel import bill from $300 to $800 billion is putting more pressure on the economy. Published On 30 Apr 202630 Apr 2026 The most serious fuel price shock to hit Pakistan in more than half a century threatens to unleash a flood of cascading crises that could…
World shares were mixed Monday as the price of Brent Crude oil jumped $2.50 a barrel early in the day as talks on ending the war between the U.S. and Iran remained snagged. Disruptions to shipping through the Strait of Hormuz have pushed oil prices sharply higher since the war began. On Monday, Brent futures…
Kampala, Uganda — Insurance leaders across Africa are warning of a potential economic slowdown as surging global petroleum prices ripple through key sectors, driving up operating costs, inflation and financial risks because of the US-Israel war against Iran, which began on Feb. 28. Speaking at the 11th Continental Reinsurance CEO Summit in Kigali on April…
A SK Hynix flag (R) and a South Korean national flag (L) flutter outside the company’s Bundang office in Seongnam on Jan. 26, 2024. Jung Yeon-je | Afp | Getty Images South Korean memory chip giant SK Hynix posted yet another quarter of record profit and revenue on Thursday, as prices for its products continue…
Microsoft has slashed the price of Xbox Game Pass in South Africa and globally, less than six months after imposing the steepest price increases in the subscription service’s history. The climbdown is the first major strategic move under new Xbox chief Asha Sharma, and it comes alongside a significant rollback of one of Game Pass’s…
Brent crude sinks by a tenth after Iran says the key waterway is open for commercial ships for the rest of the ceasefire.
Asia-Pacific markets track overnight gains in U.S. stocks on lower oil prices amid hopes of a Iran-U.S. deal
An aerial view shows the Chevron EL Segundo refinery, one of the largest petroleum processing facilities in California, on April 8, 2026 as seen from above Manhattan Beach, California. Mario Tama | Getty Images Oil prices fell Tuesday, after Vice President JD Vance indicated that U.S. and Iran could meet for another round of talks…
“Based on the fuel industry’s rule of thumb of a 10 to 14-day lag between wholesale cost movements and those at the pump, drivers should expect prices on forecourts to level by next weekend and then fall – providing the ceasefire holds,” said Luke Bosdet, the AA’s spokesman on pump prices.
The war on inflation could be in for a major setback due to the Iran war. The Consumer Price Index this week is expected to show March prices rose at a 3.3% annual pace, the average of six separate forecasts reviewed by CBS News. That would mark the highest inflation rate since May 2024 and…
