GLOBE
Oil Prices Surge to Historic Highs as WTI Jumps 30% and Brent 27%
Benchmark crude prices exceed $116 per barrel as markets react to the war in the Middle East and the de facto closure of the Strait of Hormuz.
oil
ECONOMY
How Much the War in Iran Costs: A Heavy Bill for the Economy and Human Lives
The conflict in the Persian Gulf region has already caused significant turbulence in international markets. Among the main economic impacts are a 10–15% increase in oil prices, heightened risk for roughly 20% of global oil trade passing through the Strait of Hormuz, and pressure on transport, airlines and supply chains.
GLOBE
New US Sanctions on Iranian Oil Follow Talks in Oman
Washington targets entities, individuals and vessels linked to Iran’s oil trade, even as Tehran describes discussions with the US as constructive.
Wider World
Cuba Will Defend Its Sovereignty to the Death
President Diaz-Canel said no one can impose their will on his country, after Trump warns Havana to sign an oil deal with the US before 'it's too late'.
GLOBE
Trump Says Venezuela Will Hand Over Up To 50m Barrels of Oil to US
US president claims the crude will be sold at market prices and says he will personally oversee the use of the proceeds.
