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Six weeks into the war between the United States, Israel, and Iran with no ceasefire in sight, Asia, the destination for roughly 90 percent of the oil and 83 percent of the liquefied natural gas that normally transits the Strait of Hormuz, is bearing the heaviest economic toll of a conflict it did not start. Iran effectively closed the strait......
The six-week-old war between the United States, Israel, and Iran has produced the worst oil supply crisis in modern history, drawing warnings from economists and international institutions that the world faces a growing risk of stagflation and recession if the Strait of Hormuz remains closed. The International Energy Agency described the......
At least five Palestinians were killed in fresh Israeli airstrikes in the Gaza Strip on Sunday, local authorities and hospitals reported. Four casualties were confirmed in Gaza City after an Israeli drone targeted a group of civilians, while another victim died near Deir el-Balah. Al-Shifa Hospital, the main medical facility in the territory,......
Debris from an intercepted Iranian drone struck the facade of Oracle's building at Dubai Internet City early Saturday morning as the Gulf conflict entered its fifth week with no sign of abatement. Dubai's Media Office confirmed the incident in a post on X, describing it as a "minor incident" and stating that no injuries had......
The downing of a U.S. F-15E Strike Eagle over Iran on Friday sent shockwaves through energy markets, with bettors on prediction platform Polymarket pushing the implied probability of WTI crude reaching 120 dollars per barrel this month to 77 percent, up from just 36 percent two days earlier. The abrupt repricing reflects deepening fears that......
The U.S. dollar index hovered near the 100-point mark on Friday as an unexpectedly strong March jobs report combined with deepening fears over a prolonged military conflict in Iran reinforced the greenback's status as the world's primary safe-haven currency. Nonfarm payrolls rose by 178,000 in March, the largest gain since December......
More than a month after Israeli warplanes struck the supreme leader's compound in Tehran, Mojtaba Khamenei has not appeared in public, and a hospital source told The Media Line that he remains in a medical intensive care unit at an underground location with devastating injuries, including a non-functioning arm, a paralyzed leg, spinal......
Pope Leo XIV held separate telephone conversations with Israeli President Isaac Herzog and Ukrainian President Volodymyr Zelensky on Good Friday, April 3, 2026, pressing both leaders to pursue diplomatic paths to end the wars ravaging the Middle East and Ukraine. The calls, confirmed by the Vatican in a statement, mark the pontiff's most......
More than a month into the U.S.-Israeli military campaign against Iran, a growing number of analysts and business leaders are warning that the conflict may not end in regime change or capitulation, but in the transformation of the Islamic Republic into a closed, militarized garrison state modeled on North Korea. Nikkei Asia published an analysis......
Iranian drones struck the Mina al-Ahmadi oil refinery in Kuwait on Friday morning, igniting fires across multiple operational units in the latest attack on Gulf energy infrastructure since the U.S.-Israeli air campaign against Iran began in late February. Kuwait Petroleum Corporation told the official KUNA news agency that the 346,000-barrel-per-day......
Corporate earnings for companies in the STOXX 600 index are forecast to grow 4 percent in the first quarter of 2026, marking a rebound after a decline in the final quarter of last year, according to LSEG I/B/E/S data cited by Reuters on Thursday. The turnaround is driven primarily by a surge in the energy sector, where crude oil prices inflated......
The Maltese-flagged container ship Safeen Prestige has sunk in the Strait of Hormuz, nearly a month after being struck by a projectile and abandoned by its crew, according to a maritime traffic advisory issued by regional operators on April 1. The vessel went down approximately 6.5 nautical miles northeast of Ras Mahrouk, with an oil slick......
Defense Secretary Pete Hegseth issued a pointed warning to Russia and China on Tuesday over their alleged support for Iran, saying the United States is addressing the matter directly as the war enters its fifth week with no diplomatic breakthrough in sight. Speaking at a Pentagon briefing alongside Joint Chiefs Chairman General Dan Caine,......
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