ImaWikimedia.ge Credit: Santeri Viinamäki, CC BY-SA 4.0, Russia’s oil story has taken a sharp and unexpected turn. What initially looked like a financial lifeline driven by global tensions is now colliding with a new and costly threat from Ukraine, creating ripple effects that extend far beyond energy markets and into the global automotive ecosystem. When…
I’ve been closely following the oil market for over a decade. Despite my extensive industry knowledge, I have no idea where oil prices will go from here. I can easily see a scenario where oil tops $200 a barrel if the war escalates and there are indefinite closures to the Strait of Hormuz and the…
A sharp rise in oil prices tied to the US-Israel confrontation with Iran is likely to speed up the global transition to electric vehicles, strengthening a shift that has already helped China overtake Japan as the world’s top car seller, according to South China Morning Post. Crude prices have surged past $100 a barrel amid…
Hong Kong authorities have arrested a man and seized more than 8,000 litres (2,100 gallons) of illegal fuel worth HK$250,000 (US$32,000), the latest in a string of similar cases amid the Middle East conflict that has pushed up global oil prices. A police spokesman said on Friday that a joint operation with the Fire Services…
Hong Kong flag carrier Cathay Pacific Airways will increase its fuel surcharge for all flights by 34 per cent from April – the second increase in two weeks – citing “considerable pressure” as the war in the Middle East affects oil prices. The airline said on Thursday that considering the scale of recent surges in…
Even as global markets brace for a potential oil shock, a quieter, more calculated story has been unfolding in Beijing, one that helps explain why prices refuse to fall and why volatility is here to stay. Warnings are already flashing. Larry Fink, chief executive of BlackRock, has said oil surging to 150 dollars a barrel…
FTSE 100 Live: Shares jump as oil prices fall as Iran allows some Hormuz shipping Proactive uses images sourced from Shutterstock FTSE 100 up 84 points to 10,049 Brent oil price falls below $100 Iran says ‘non-hostile’ vessels allowed through Hormuz Trading updates Asos, Diageo, Crest Nicholson, RS Group Average UK house prices were up…
New York : The supply shockwaves from the US and Israel’s war in Iran are spreading across the global economy, raising concerns about an inflation hit to companies and consumers that will require policymakers to raise borrowing costs. The release of the film ‘Toxic’, starring Yash, has been postponed to June for fear of missing…
Hong Kong authorities are investigating whether a fire at a Kwai Chung car park that sent thick black smoke high into the sky on Tuesday afternoon was linked to the operation of an illegal fuel station. The Fire Services Department received a report shortly after 2pm of a truck ablaze at a car park on…
Oil prices could extend gains at Monday’s open as the U.S.-Israeli war against Iran entered a third week, putting oil infrastructure at risk and keeping the Strait of Hormuz shut in the world’s largest supply disruption. U.S. President Donald Trump threatened further strikes on Iran’s Kharg Island oil export hub, drawing a defiant response of…