Iranian drones strike Kuwait's Mina al-Ahmadi refinery again, sparking fires

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......

European Q1 earnings set to rise 4% as energy sector surges

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......

Container ship Safeen Prestige sinks in Strait of Hormuz after weeks ablaze

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......

Hegseth says US is directly confronting Russia and China over support for Iran

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,......

Iran war wipes $255 billion from world's top billionaires in 2026

Market turbulence triggered by the American-Israeli military campaign against Iran has taken a heavy toll on the world's wealthiest individuals, erasing more than $255 billion in combined net worth from six of the ten richest people since January, according to the Bloomberg Billionaires Index. Oracle co-founder Larry Ellison suffered......

Houthi strikes raise fears of major disruption to global oil routes

Yemen’s Houthi forces launched their first direct strikes on Israel on Saturday, marking a new phase in the ongoing conflict involving the United States, Israel, and Iran. The escalation has raised concerns that the Red Sea, now a critical alternative route for oil shipments, could become a major flashpoint. Houthi military spokesperson......

Pentagon plans ground operations in Iran as war enters second month

Israel and the United States intensified their air campaign against Iran over the weekend, striking power plants, missile production sites, and nuclear facilities across Tehran and surrounding provinces as the conflict entered its second month. Iran retaliated with waves of drones and missiles targeting Israel, Saudi Arabia, Kuwait, and other......

Gold heads for worst month since 2008 as war-driven dollar surge hammers prices

Gold is on course for its steepest monthly decline since October 2008, falling roughly 15 percent in March as a surging U.S. dollar and rising Treasury yields stripped the metal of its traditional safe-haven appeal, even as a major war rages across the Middle East. The selloff has wiped more than $1 trillion in market capitalization from the......

UK raises concern over Israel’s planned expansion in Lebanon

The United Kingdom has expressed growing concern over Israel’s stated intention to expand its ground operations in Lebanon, warning of the risk of further escalation in an already volatile region. British Foreign Office Minister Hamish Falconer said the situation was “deeply concerning,” noting......

EU energy ministers to convene Tuesday on Iran war supply crisis

European Union energy ministers will meet by videoconference on Tuesday, March 31, to coordinate a joint response to the oil and gas market disruptions triggered by the war in Iran, according to an internal EU briefing document cited by Reuters. The emergency session comes as European natural gas prices have surged more than 70 percent since......

Dollar nears 10-month high as Iran war stretches into fifth week

The U.S. dollar climbed toward a 10-month high on Monday as the war between the United States, Israel, and Iran entered its fifth week with no clear path to resolution, buoyed by safe-haven capital flows and surging oil prices that rattled global markets throughout March. The dollar index traded around 100.2, after touching 100.54 in mid-March,......

Asian currencies and stocks tumble as Iran war drives oil toward $115

Asian currencies and equity markets came under heavy selling pressure on Monday as the U.S. and Israeli military campaign against Iran, now entering its fifth week, continued to push oil prices higher and deepen risk aversion across the region. South Korea's Kospi plunged 4.73 percent at the open in Seoul, falling to 5,181.80, while the......

Cambodia cuts electric vehicle import duties amid global fuel price surge

Cambodia will eliminate import duties on passenger electric vehicles, reducing the rate from 35% to zero effective April 1. The government also removed duties on electric vehicle battery chargers, electric motors, lithium batteries and solar energy devices to help consumers cope with rising energy costs. The country imports all its oil and......

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