Keywords: Oil
The world is facing an energy crisis more severe than the combined oil shocks of the 1970s, the International Energy Agency warned, as tensions between the United States and Iran escalate over control of the Strait of Hormuz. The warning comes as US President Donald Trump issued a 48-hour ultimatum......
Oil prices have surged to their highest levels in nearly four years as the conflict involving Iran disrupts global energy supply, raising inflation risks and reviving concerns about stagflation. Brent crude closed at $112.19 per barrel on Friday, its highest level since July 2022. In the United States,......
Gold and silver continued to fall at the start of the trading week, extending a multiweek selloff driven by tight US monetary policy, a stronger dollar and renewed inflation concerns linked to rising energy prices amid the Iran conflict. Gold futures dropped sharply early in the session, adding to losses......
Iran has warned it could completely shut down the Strait of Hormuz if the United States follows through on threats to target Iranian energy infrastructure. According to an official statement broadcast on state media, Iran’s Khatam al-Anbiya joint command headquarters declared that any attack on......
Japan has indicated it could consider a limited military role in securing the Strait of Hormuz, one of the world’s most critical energy corridors, but only under the condition of a ceasefire in the ongoing tensions involving Iran. Speaking in a televised interview, Toshimitsu Motegi explained......
Egypt has announced plans to settle $1.3 billion in arrears owed to international oil companies by June, accelerating its previous repayment schedule. The move is aimed at restoring investor confidence and boosting domestic energy production. Egypt had accumulated around $6.1 billion in unpaid balances......
Oil refiners across Asia are reassessing their supply strategies following a temporary decision by the United States to ease restrictions on Iranian crude exports. The move comes amid concerns over tightening global energy supplies and rising market volatility. In India, several refiners are preparing......
Brent crude futures rose above 110 dollars per barrel on Friday, reaching their highest level since mid-2022 as escalating attacks on energy infrastructure in the Gulf intensified concerns over prolonged supply disruptions. The surge capped a volatile week in which Brent traded between roughly 107 and......
Gold prices are on course for their steepest weekly decline since March 2020, pressured by the Federal Reserve’s firm interest rate stance and a stronger US dollar, despite a modest rebound on Friday. Spot gold edged higher early in the session to around 4,700 dollars per ounce, recovering from......
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