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Economy

Shipping fuel crunch raises fears of higher prices worldwide

Global shipping companies are bracing for fuel shortages and rising costs as the Iran war disrupts supplies of bunker fuel through the Strait of Hormuz.

Economy

US Treasury enlists banks to target Iranian money laundering schemes

The US Treasury has directed banks to intensify their monitoring of Iranian money laundering networks that enable funds from sanctioned oil. The move is part of the wider strategy to pressure Iran into a deal as negotiations stall.

Iran

Iran chief negotiator says US must accept proposal or face 'failure'

Iran has refused to back down in its war with Washington, with military officials warning they are prepared to respond to any renewed US attack.

Economy

Soaring energy profits reignite calls for windfall tax across Europe

European oil and gas companies that posted huge profits in the first quarter on soaring prices caused by the war in the Middle East face new calls from London to Paris to tax their outsized gains.

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Europe News

First protests against high fuel prices emerge: who will join first?

"Producing is more expensive than ever, and prices are not keeping pace", says the Coordination rurale, which organised the rally. The union claims that "farms can no longer survive without a concrete response".

Iran

Iran warns Europe not to send ships to Hormuz as US talks gap widens

Tehran has warned Europe against the idea of sending warships to the key waterway, as it outlined a conditional proposal on uranium, sanctions relief and a Lebanon ceasefire.

Business

Saudi Aramco profits jump 25% as Iran war drives oil prices higher

Saudi Aramco said Q1 profit rose 25% as the Iran war disrupted global oil supplies and pushed up prices. The company shifted some exports away from the Strait of Hormuz via its East-West Pipeline, which is now operating at full capacity.

China

Trump to discuss Iran war with Xi on visit to China this week

The US leader was expected to travel to China earlier this year, but his trip was postponed due to the Iran war. It marks the first visit by a US president to China since 2017.

Iran

Fragile truce holds as US awaits Iran's response to latest proposal

Washington insists its month-long ceasefire with Iran is continuing to hold despite renewed hostilities and the recent exchanges of fire. The US says it is awaiting Iran’s response to its latest ceasefire proposal to end the war.

Economy

Potato futures soar 700% in less than a month on Iran war speculation

Potato-linked financial contracts have risen over 700% in a few weeks, despite a current oversupply in Europe, due to speculative trading surrounding the volatile environment caused by the Iran war.

Economy

Oil tanker arrives in South Korea after leaving the Strait of Hormuz

A Malta-flagged tanker, carrying one million barrels of crude oil, has successfully reached the western coast of South Korea after passing through the Strait of Hormuz in mid-April.

Iran

Iranians risk arrest at Iraq border to escape Tehran's internet ban

Desperate to communicate with the outside world, Iranians are increasingly travelling to the border with Iraq, where Iraqi SIM cards and impromptu hotspots became a hot commodity, they told Euronews.

Qatar

Universities in Qatar fete graduation week despite regional crisis

Education City students in Qatar turned war-time alerts and evacuations into a story of resilience, keeping studies online and now celebrating graduation.

Economy

Gold or oil: Which shields you best from Iran war inflation?

Conventional wisdom holds that gold protects investors during war and inflation. The Iran conflict has turned that assumption on its head. Since the outbreak of the war, Brent crude has rallied 37%, while gold has fallen 10%. The driving force is interest rates, not geopolitics.

Iran

UAE reports missile attack as Iran war ceasefire is challenged

Meanwhile, a shipping data company reported that Iran had created a government agency to vet and tax vessels seeking passage through the crucial Strait of Hormuz.

Interview

Global shocks will slow down economic growth in Africa, IMF warns

According to the IMF's report, regional growth is expected to decline by 0.3 percentage points, and some 20 million people in Africa now face the risk of food insecurity as the Iran war raises energy and food prices.

Business

Shell profits surge as Iran war drives oil prices higher

Europe’s biggest energy company reported a jump in first-quarter profits as the war involving Iran and the effective closure of the Strait of Hormuz pushed oil and gas prices higher.

Lebanon

Senior Hezbollah commander killed by Israel in Beirut suburbs

Beirut and its southern suburbs had been spared Israeli attacks since 8 April, when massive Israeli strikes across the country killed more than 350 people.

Business

Maersk profit drops, maintains 2026 outlook despite Hormuz uncertainty

Danish shipping giant Maersk said on Thursday it was maintaining its 2026 outlook despite the war in the Middle East and uncertainty over disruptions to key trade routes through the Strait of Hormuz.

Europe Today

Former Trump envoy warns Iran still has power over Strait

After more than two months of war between the US and Iran, a deal appears in sight to end hostilities and reopen the Strait of Hormuz, one of the world's vital shipping routes. However, former Trump official Kurt Volker says the conflict has effectively handed control of the Strait to Tehran.