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A six-week conflict involving the United States, Israel, and Iran has triggered Asia's worst energy crisis in decades, with surging fuel prices, severe LPG shortages, and widespread economic fallout. A fragile two-week ceasefire announced April 7 offers only tentative relief. Wood Mackenzie's April 6 analysis shows Asia's spot......
Spain has strongly condemned recent Israeli airstrikes on Lebanon, accusing Israel of violating international law and a recently brokered two-week ceasefire. Spanish Foreign Minister Jose Manuel Albares highlighted the attacks as reckless and illegal during a parliamentary address in Madrid. Madrid has positioned itself as one of the most......
U.S. stock markets posted sharp gains Wednesday, their strongest session in a year, after the United States and Iran agreed to a two-week ceasefire. The truce raised hopes of easing an oil shortage that had stalled the economy. The Dow Jones Industrial Average climbed 1,325 points, or 2.85 percent. The S&P 500 rose 2.5 percent, and the......
As conflict involving the United States, Israel, and Iran continues to destabilize global energy markets and effectively close the Strait of Hormuz, China's long-running transition toward electric vehicles and renewable energy is providing the world's largest crude oil importer with a notable economic buffer against surging oil prices. Reuters......
Israeli Air Force jets carried out a large-scale overnight operation targeting three Tehran airports, destroying dozens of aircraft, helicopters, and military infrastructure in what the Israeli military described as an effort to degrade Iran's aerial capabilities. The strikes, confirmed Monday by the Israel Defense Forces, hit Bahram Airport,......
Israel’s Elbit Systems is preparing to start deliveries of Watchkeeper X drones to Romania under a 1.89 billion lei ($428.75 million) contract, following delays that raised concerns from Romanian officials. The agreement, signed in 2022 for seven unmanned aerial systems, was originally scheduled for deliveries to begin in 2025. Romanian......
A third Turkish-flagged vessel has successfully crossed the Strait of Hormuz, Turkish Minister of Transport and Infrastructure Abdulkadir Uraloğlu announced Monday, marking another incremental diplomatic step for Ankara as it works to free its merchant fleet from a waterway effectively closed by Iran since late February. The tanker Ocean......
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......
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