Yesterday 16:30
The global aviation sector is facing a severe disruption as jet fuel prices surge following the closure of the Strait of Hormuz. The escalation stems from military strikes by the United States and Israel against Iran on February 28, which effectively halted a key energy transit route. Fuel costs have more than doubled within weeks, forcing......
LVMH chief executive Bernard Arnault has warned of severe global economic consequences if the conflict in the Middle East continues, as the luxury group faces a sharp slowdown in one of its fastest-growing regions. His remarks come as the company expands its retail presence in Dubai while confronting declining sales linked to geopolitical......
The head of the International Energy Agency has warned that the disruption in the Strait of Hormuz may trigger lasting changes in global energy markets, even if the passage reopens. Executive director Fatih Birol said the era of heavy dependence on a single maritime chokepoint is nearing its end, adding that restoring stability could take......
US crude oil inventories posted an unexpected decline of 4.4 million barrels in the week ending April 17, far exceeding market expectations for a one million barrel draw. The drop follows a 6.1 million barrel increase the previous week and reflects growing volatility in global oil markets as disruptions linked to the Strait of Hormuz enter......
Crude exports from Saudi Arabia rose to 7.276 million barrels per day in February, up from 6.993 million in January, reaching their highest level in several years. The increase of 283,000 barrels per day reflects a steady ramp up in output as the kingdom positioned itself amid rising geopolitical tensions in the Gulf before major supply disruptions......
Governments across dozens of countries are deploying emergency policies to shield households and businesses from a widening energy crisis triggered by the war involving the United States, Israel, and Iran. The disruption has been amplified by the closure of the Strait of Hormuz, which has removed roughly one fifth of global oil and liquefied......
Germany has reaffirmed its opposition to suspending the association agreement between the European Union and Israel, despite growing calls from several EU member states to reconsider the bloc’s relationship with Tel Aviv. German Foreign Minister Johann Wadephul stated that suspending the agreement would be “inappropriate,”......
Fatih Birol said the conflict involving Iran and a coalition led by the United States and Israel has created the most severe global energy crisis on record, surpassing both the oil shocks of the 1970s and disruptions linked to the war in Ukraine. Speaking publicly on Tuesday, he said the combined impact of oil and gas disruptions has pushed......
Benjamin Netanyahu condemned an Israeli soldier after a photograph showed the destruction of a statue of Jesus Christ in southern Lebanon, an incident that triggered international backlash and a criminal investigation by the Israel Defense Forces. The image, widely shared online, shows a soldier striking the head of the statue with a hammer......
The conflict involving the United States, Israel and Iran has accelerated global investment in battery storage, intensifying a shift already underway in power systems worldwide. Falling battery costs and rising electricity demand, driven in part by data centers, had set the stage for rapid expansion. The war has amplified this trend by pushing......
The Israeli army has issued a warning to Lebanese civilians, urging them not to return to several villages in southern Lebanon, citing ongoing security concerns and alleged violations of a fragile ceasefire agreement. According to the Israeli military, activities carried out by Hezbollah in the area constitute a breach of the truce recently......
Several thousand demonstrators marched through central Rabat on Sunday to protest a newly adopted Israeli law that sets capital punishment as the default sentence for Palestinians convicted of deadly attacks in the occupied West Bank. The protest also renewed criticism of Morocco’s normalization of relations with Israel, reflecting sustained......
Turkey has accused Israel of attempting to create a “fait accompli” in Lebanon, despite the ongoing ceasefire with Hezbollah, according to remarks made by Turkish Foreign Minister Hakan Fidan. Speaking at a diplomatic forum in Antalya, in southern Turkey, Fidan claimed that Israel is taking advantage of shifting international......
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