Oil drilling rigs Oil markets are closely watching prices as Middle East tensions continue to threaten crude flows through the Strait of Hormuz, disrupting global supply and pushing prices higher. Brent crude closed above $100 per barrel yesterday for the first time since August 2022. During the week, prices briefly surpassed $120 per barrel. In […]
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Gold futures for April delivery edges down 0.5% to $5,100.4 per ounce Gold and silver futures fell on Friday as the US dollar strengthened, while the ongoing conflict in the Middle East kept oil prices above $100 per barrel. Gold futures for April delivery declined 0.5%, or $25.4, to $5,100.4 per ounce as of 9:30
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Greater Bay Airlines announced on Friday that fuel surcharges for non-mainland services would almost double from March 18 due to higher oil prices as a result of the Middle East conflict. This came after similar moves by Cathay Pacific and Hong Kong Airlines. For flights to the Maldives, the surcharge will rise from HK$284 to
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MANILA, Philippines — Malacañang pushed back against Vice President Sara Duterte’s criticism of the government’s response to rising oil prices linked to tensions in the Middle East. Palace Press Officer Claire Castro questioned Duterte’s claim that the administration failed to prepare for the possibility of a global oil crisis. The vice president earlier said the
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City receives 221 reports of illegal petrol stations in January and February, averaging 111 per month or more than four times 2025 monthly average Published: 1:54pm, 13 Mar 2026 Updated: 4:06pm, 13 Mar 2026 Illegal operators in Hong Kong have been converting vehicles into mobile refuelling points and posing risks to public safety, according to
Jump in illegal refuelling complaints as Hong Kong grapples with rising oil prices Read More »
As the US–Israel war on Iran escalates, so too does the global oil crisis. The effective closure of the Strait of Hormuz, through which roughly 20% of the world’s oil and natural gas flows, and the targeting of oil production facilities in the Middle East have lifted the oil price by 34%. The price of
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