Keywords: Oil
The International Monetary Fund warned that the expanding conflict in the Middle East could push global inflation higher as oil prices approach $120 per barrel, adding new pressure to the world economy at a time when weak labor data in the United States is intensifying concerns about stagflation. IMF......
Stock markets across Asia fell sharply on Monday as crude oil prices jumped above $115 per barrel, heightening concerns that escalating tensions between the United States and Iran could damage the global economy. South Korea’s Kospi index dropped more than 8 percent, triggering a circuit breaker......
Tokyo has reportedly instructed a national oil reserve facility to prepare for a possible release of crude oil due to disruptions in Middle Eastern supplies, a Japanese lawmaker said on Sunday. The move comes as tensions in Iran have affected global energy flows. Japan relies on the Middle East for......
Slovak Prime Minister Robert Fico is expected to meet European Commission President Ursula von der Leyen this week to discuss the possible resumption of oil deliveries through the Druzhba oil pipeline, a major supply route connecting Russia with several Central European countries. The meeting comes......
Tensions in the Middle East escalated again after several petroleum facilities in and around Tehran were targeted overnight, according to Iranian officials. The attacks reportedly damaged multiple fuel storage locations and caused fatalities among workers at the sites. Authorities in Iran stated that......
Kuwait has implemented a precautionary reduction in crude oil production and refining throughput amid ongoing tensions with Iran, the Kuwait Petroleum Corporation (KPC) announced on Saturday. The move follows recent Iranian attacks against Kuwaiti territory and concerns over safe passage of ships through......
Oil prices have surged to levels not seen since 2023 following eight days of conflict in the Middle East. Investors are increasingly concerned as disruptions to oil flows from the Gulf region continue, fueled by tensions in the Strait of Hormuz. The West Texas Intermediate (WTI) benchmark closed at......
India’s largest state-run refiner, Indian Oil Corporation, has reportedly secured several crude oil cargoes scheduled to be loaded from the Red Sea port of Yanbu, according to industry sources familiar with the matter. The move reflects ongoing adjustments in global energy supply chains as geopolitical......
Global financial markets ended a turbulent week as surging oil prices and escalating tensions between the United States, Israel and Iran triggered widespread investor anxiety and renewed concerns about inflation. Wall Street closed sharply lower on Friday after a volatile trading session. The Dow Jones......
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