The Israel-Iran conflict has entered a dangerous new phase, with attacks on vessels in the strategically vital raising fears of a prolonged global energy crisis. According to Iran’s Islamic Revolutionary Guard Corps (IRGC), two ships were struck after allegedly ignoring naval warnings. A Thai-flagged vessel, Mayuree Naree, suffered an explosion in its engine room, leaving […]
Oil prices spiked to just above $120 over the weekend as escalations of the Israel -US-Iran war intensified, with key read more Nigeria Week Ahead: Equities sink, Oil surpasses $100, CPI in focus… https://businessday.ng/insight-2/article/nigeria-week-ahead-equities-sink-oil-surpasses-100-cpi-in-focus/
Nigeria Week Ahead: Equities sink, Oil surpasses $100, CPI in focus Read More »
Oil prices would need to stay high for years — not weeks or months — to drive a lasting shift away from the fossil fuel.The big picture: Every time oil spikes, the same question surfaces: Will this push more people into electric cars or install solar panels onto rooftops?State of play: That’s happening again following
Why oil price spikes (probably) won’t spur shift away from oil Read More »
Trading steadied early Tuesday and crude prices eased after wild swings this week with investors trying to figure out how long the war with Iran will continue. Futures for the Dow Jones Industrial Average rose 0.2% before the opening bell, while S&P 500 futures inched up 0.1%. Futures for the Nasdaq were up 0.2%. On
Asian shares surge, echoing rally on Wall Street as oil prices sank back to about $90 Read More »
G7 finance ministers will on Monday discuss the possible release of emergency oil reserves, a French government source said, in response to surging oil prices resulting from the Middle East conflict… https://www.dailymaverick.co.za/article/g7-to-discuss-joint-release-of-emergency-oil-reserves-french-source-says
G7 to discuss joint release of emergency oil reserves, French source says Read More »
Iran on Monday named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader, signalling that hardliners remain firmly in charge, while the week-old U.S.-Israeli war with Iran sent oil prices surging and Asian stock markets into a nosedive… https://www.dailymaverick.co.za/article/khameneis-hardline-son-mojtaba-appointeded-irans-new-leader-oil-surges-on-supply
Khamenei’s hardline son Mojtaba appointed Iran’s new leader; oil surges on supply fears Read More »
By SAM LAWLEY, NEWS REPORTER and ADAM POGRUND, REPORTER and NOOR QURASHI, NEWS REPORTER and MELISSA KOENIG, US REPORTER Updated: 10:35 GMT, 9 March 2026 US Defense Secretary Pete Hegseth last night guaranteed Iran will ‘surrender’ as oil prices soared past $100 a barrel for the first time in four years as the war causes
PRESIDENT Ferdinand Marcos Jr. is set to formally request the Congress to grant him emergency powers to reduce the excise tax on petroleum products amid the looming fuel supply disruptions, which may result in the surge of prices due to the ongoing tension in the Middle East. In an interview with reporters in New York
Marcos to seek emergency powers amid looming oil price hike Read More »
Qatar PM says Iran strikes feel like ‘a big sense of betrayal’ Iran has elected Mojtaba Khamenei as its new leader, more than a week after his father was killed in an airstrike. The 56-year-old was chosen to become the next supreme leader on Sunday evening, despite Donald Trump’s insistence that he should have a
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