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Keywords: Strait of Hormuz
TotalEnergies generated more than $1 billion in profit this month by cornering the Middle East crude oil market during one of the most volatile periods in energy trading history, according to reporting by the Financial Times and Bloomberg. The French energy giant's trading arm purchased 69 cargoes......
Israel and the United States intensified their air campaign against Iran over the weekend, striking power plants, missile production sites, and nuclear facilities across Tehran and surrounding provinces as the conflict entered its second month. Iran retaliated with waves of drones and missiles targeting......
European Union energy ministers will meet by videoconference on Tuesday, March 31, to coordinate a joint response to the oil and gas market disruptions triggered by the war in Iran, according to an internal EU briefing document cited by Reuters. The emergency session comes as European natural gas prices......
The U.S. dollar climbed toward a 10-month high on Monday as the war between the United States, Israel, and Iran entered its fifth week with no clear path to resolution, buoyed by safe-haven capital flows and surging oil prices that rattled global markets throughout March. The dollar index traded around......
Gold prices held steady near $3,490 per ounce as the final week of March drew to a close, with the precious metal caught between safe-haven demand driven by escalating Middle East tensions and downward pressure from surging oil prices that have all but erased expectations of Federal Reserve rate cuts......
Rising geopolitical tensions in the Middle East are beginning to ripple far beyond the region, placing new pressure on Morocco’s economy. Although geographically distant, the country remains vulnerable to disruptions in the Strait of Hormuz, a crucial route for global oil trade. The most......
One month into the U.S.-Israeli war against Iran, the economic shockwaves of the conflict are spreading well beyond the Middle East, pressing households and industries across three continents. Iran's effective blockade of the Strait of Hormuz, through which roughly one fifth of global oil and liquefied......
Four weeks into the war between the United States, Israel and Iran, the near-total paralysis of the Strait of Hormuz has blocked one third of global seaborne fertilizer trade, triggering a price surge and prompting the United Nations to warn of a "systemic shock" to global food systems as planting......
The war in Iran, now entering its second month, is sending cascading economic shockwaves across Southeast Asia, where surging energy costs are rapidly translating into food insecurity and social unrest. The United Nations Food and Agriculture Organization warned Thursday that the conflict in the Persian......