Economy
Oil stocks drain at record pace as IEA warns of renewed price swings
The International Energy Agency says the oil market is likely to remain in deficit until the final quarter of the year, as disruptions at the Strait of Hormuz continue to constrain supply, increasing the risk of renewed price volatility.
Qatar
Qatar warns Iran against weaponising Hormuz to 'blackmail' Gulf states
Qatar warned Tehran on Tuesday against using the Strait of Hormuz as a "weapon" to hold Gulf states to ransom, as Doha and Ankara backed ongoing mediation efforts to end the Iran war and restore access to the vital waterway.
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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.
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
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.
