Keywords: Oil price surge


China's electric vehicle shift cushions the blow of Iran war oil shock

As conflict involving the United States, Israel, and Iran continues to destabilize global energy markets and effectively close the Strait of Hormuz, China's long-running transition toward electric vehicles and renewable energy is providing the world's largest crude oil importer with a notable......

China turns Middle East war energy crisis into EV and LNG windfall

The war in the Middle East has upended global energy markets, but for China the disruption is proving to be an accelerant. As oil-importing nations grapple with crude prices above $110 a barrel and scramble for alternatives to volatile fossil fuel supplies, Chinese electric vehicles, solar panels, and......

South Korea risks Hormuz oil runs as Asia's energy crisis deepens into sixth week

Six weeks into the war between the United States, Israel, and Iran with no ceasefire in sight, Asia, the destination for roughly 90 percent of the oil and 83 percent of the liquefied natural gas that normally transits the Strait of Hormuz, is bearing the heaviest economic toll of a conflict it did not......

Middle East war wipes $62 billion from ASEAN billionaire fortunes in March

Escalating conflict in the Middle East erased approximately $62 billion from the combined wealth of Southeast Asian billionaires in March, reshuffling the region's richest rankings as Asia-Pacific stock markets buckled under surging energy prices and a collapse in investor confidence. The 150 ASEAN......

Shell and BP shares hit record highs as oil tops $100 amid Iran conflict

Shares in Shell and BP surged to all-time highs on Thursday as the ongoing U.S.-Iran conflict continues to drive crude oil prices sharply higher, generating windfall gains for major oil companies while hitting consumers hard at the pump. Shell's share price has risen roughly 15% over the past month,......

A record $977M bet against oil backfires as crude prices surge

Traders placed a record $977 million against crude oil in March, pouring capital into the ProShares UltraShort Bloomberg Crude Oil ETF in the largest monthly inflow the fund has recorded since its launch in November 2008. The bet has so far gone badly wrong. SCO, which delivers twice the daily inverse......

Gold holds near $3,490 as oil surge dims hopes of Fed rate cuts

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......

Markets weeks from peak panic amid US-Iran conflict, warns Alpine Macro

Nearly a month after US and Israeli strikes ignited the US-Iran conflict on February 28, fund managers scramble to reshape portfolios. Persistent volatility and surging oil prices upend standard investment approaches. Investors rush to cash and safe havens. One Australian small-cap fund boosted its......

Central banks worldwide raise inflation forecasts amid Iran war energy shock

Central banks across the globe have lifted their inflation outlooks less than a month after U.S. and Israeli forces struck Iran on February 28. The conflict's economic fallout spreads as energy prices soar and supply chains disrupt. Governments activate emergency measures to counter the crisis [reuters.com]. France's......