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Economy

Hormuz becomes world's costliest waterway after 300% premium surge

Missile threats, soaring insurance premiums and suspended voyages are reshaping the trade that once went through Hormuz — and consumers will feel it within weeks.

Economy

Oil prices rise as Trump presses allies to secure the Strait of Hormuz

Oil prices continue to rise as the Iran war enters its third week, with President Trump pushing allies to help secure the Strait of Hormuz as investors react to threats facing Middle Eastern export facilities.

Qatar

The Iran war could trigger deeper economic fallout than markets expect

Beyond the battlefield, the Iran war is exposing fragile economic chokepoints from energy routes to fertilisers and industrial gases, raising concerns among economists that supply disruptions could shape global prices and trade long after the conflict ends.

Economy

US expands Russian oil waiver to all countries in bid to cool prices

The US has expanded a temporary sanctions waiver on the purchase of stranded Russian oil from India alone to all countries worldwide as part of ongoing efforts to ease pressure on global energy prices.

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Economy

Could oil prices really reach $200 a barrel as claimed by Iran?

As the Iran war approaches the two-week mark, energy markets are bracing for a potential "super shock". The IRGC has repeatedly threatened to push oil prices up to $200 per barrel, leveraging its control over the Strait of Hormuz, but how realistic is this scenario?

Europe Today

Iran escalation risks 'stagflation shock' for Europe, Dombrovskis says

EU economy chief says intensity and duration of the Iran war will define fallout of the crisis on Europe as global coalition agrees to the biggest release of oil reserves in history to stabilise energy market.

Economy

IEA approves historic 400m barrel oil release amid Iran crisis

The 32-member International Energy Agency has unanimously agreed to release 400 million oil barrels from its global strategic reserves in an attempt to prevent supply disruptions and ease market fears caused by Iran war shortages.

Ukraine

Zelenskyy says Druzhba pipeline could be restored in month and a half

"Ukraine can repair the Friendship oil pipeline in a month or a month and a half, although it sees no technical or safety reason to do so," Zelenskyy said. "I will be frank: my position, which is shared with European leaders, is that I would not repair the pipeline."

Economy

Another oil tanker hit by drone boat as Strait of Hormuz tensions rise

An oil tanker has been struck near the Strait of Hormuz, marking another attack in the area that triggered an explosion and left one crew member dead.

Economy

First oil tanker attacked in the Strait of Hormuz according to Oman

An oil tanker was attacked off the coast of Musandam in the Strait of Hormuz. Four people were injured and all 20 crew members were evacuated, according to Oman's Maritime Security Centre.

Business

What does the US-Israel attack on Iran mean for oil prices?

The US and Israel launched a joint operation at Iran on Saturday morning. Iran retaliated as it had threatened, with explosions reported in the United Arab Emirates, Qatar, Bahrain and Kuwait, risking a wider conflict across the region.

Markets

Oil prices jump after OPEC+ announces modest monthly output hike

Analysts forecast that the rise may be short-lived as soft demand threatens a supply glut.

Europe News

Hungary and Slovakia under pressure as US and EU target Russian energy

Hungary and Slovakia will be squeezed by the US and the EU to drop Russian fossil fuels, a sector expert claims. As pressure from Washington grows, Hungary has signed a long-term gas contract with Shell to complement its Russian supplies.

Europe News

Budapest threatens Kyiv with electricity cut after strikes on pipeline

The tensions between the two countries escalated after Ukraine bombed the Drushba pipeline on Russian territory, effectively stopping oil deliveries to Slovakia and Hungary.

Markets

Oil prices rise on reports of Israel potentially attacking Iran

Any attack by Israel against Iran could significantly impact US-Iran nuclear talks, while also escalating already heated tensions in the wider Middle East region.

Economy

US to impose tariffs on Venezuelan oil imports, impacting global trade

US President Donald Trump said Monday he would be placing a 25% tariff on all imports from any country that buys oil or gas from Venezuela, although the US does so itself.

Markets

Oil prices drop as OPEC+ agrees to gradually hike output from April

Oil prices had already been trading lower in the last few weeks, partly because of expectations that US president Donald Trump could swiftly end Russia’s war in Ukraine. This, in turn, is likely to increase Russian oil output thanks to sanctions relief.

Business

Trump threatens trade tariffs unless Europe buys more US oil and gas

US president-elect keeps the prospect of a transatlantic trade war in the air, exactly a month before he is due to walk back into the White House.

Markets

Oil prices hit as Trump signals increasing support for more drilling

US President-Elect Donald Trump's enthusiasm for more oil drilling in the US is causing increasing volatility in oil prices, as investors worry about the possibility of oversupply.

Markets

Markets watch oil prices after death of Iranian president

President Raisi was expected to succeed Iran's supreme leader Ayatollah Ali Khameini. He was once sanctioned by the US for the mass execution of political prisoners in the 1980s.