US Federal Reserve policymakers are expected to leave interest rates unchanged at their meeting next week, as the US-Israel war on Iran sends shock waves through markets and recent economic data has begun to show weakness. The Fed will start its two-day meeting on Tuesday, with an announcement of the benchmark lending rate in the…
Russia on Thursday (Mar 12) accused the United States and its Western allies of whipping up “hysteria” about Iran’s nuclear ambitions, as tensions flared at the United Nations over Washington’s military campaign Operation Epic Fury against Tehran. China also slammed the US, calling it the “instigator” of the Iranian nuclear crisis. US envoy to the…
Global oil markets swung both ways for a second straight day on Tuesday as mixed signals from the Trump administration about the war in Iran and security in the Strait of Hormuz caused panic among investors and energy traders. Galaxy Globe bulk carrier and Luojiashan tanker sit anchored in Muscat, as Iran vows to close…
The Israeli strikes on Iranian oil depots, which created ‘apocalyptic’ scenes in Tehran, have seemingly led to a disagreement between the US and Tel Aviv, with Washington taken by surprise by the extent of the bombing. Residents look on and take pictures as flames and smoke rise from an oil storage facility struck as attacks…
Oil prices surged past $100 a barrel for the first time in almost four years as more major Middle East producers cut production, the Strait of Hormuz remained largely closed, and the United States warned it could deepen a conflict that has already shaken global energy markets. Several Asian stock markets fell sharply on Monday…
South Korean shares sank more than 10% on Wednesday, wiping off $430 billion in value just this week, after the won currency hit a 17-year low on a widening Middle East war, prompting heavy selling in a market that had been the world’s hottest. A dealer walks past near a screen showing the foreign exchange…
The United States seems to be set to control the Venezuelan oil trade indefinitely, as President Donald Trump and his administration gave the clearest indication on Wednesday. President Donald Trump did not provide a precise timeline for ending the oversight of Venezuela. (AP/ File) Trump, in an interview with the New York Times, said on…
Oil prices climbed in early Asian trade on Friday as markets responded to renewed attacks by Ukraine against energy infrastructure in Russia. A Ukrainian drone attack on the Russian Black Sea port of Novorossiysk, one of the country’s most important oil export hubs, triggered renewed fears of supply disruptions in what has been a very…
MANILA, Philippines (AP) — Asian shares retreated on Friday, tracking Wall Street’s tumble to one of its worst days since April as Nvidia and other AI superstar stocks kept dropping on worries their prices have shot too high. U.S. futures were nearly unchanged and oil prices advanced. South Korea’s Kospi led the regional decline, falling…
Yahoo Finance’s Jake Conley reports: Earlier this month, China announced tightened export restrictions on rare earth minerals, including a complete prohibition on all exports for defense applications. That potentially leaves the US defense industry without a key input across a range of weapons systems. But during earnings calls this week, leadership at the country’s top…