Why Reopening the Strait of Hormuz Matters for the U.S. Economy
The interconnectedness of global energy markets means that the effects of Iran’s blockade of the waterway are not limited to countries directly dependent on oil from the Middle East.
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Hormuz chokepoint: Are record oil prices good for Africa
The strategic response for Africa lies not in reacting to individual crises but in reducing its overall dependence on them US and Israeli strikes on Iran and the blockade of the Strait of Hormuz have implications for Africa that extend far beyond politics in the Middle East. This external shock has once again demonstrated Africa's structural dependence on global commodity markets.
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The Iran shock: A big economic test for a far-away continent
The strategic response for Africa lies not in reacting to individual crises but in reducing its overall dependence on them US and Israeli strikes on Iran and the blockade of the Strait of Hormuz have implications for Africa that extend far beyond politics in the Middle East. This external shock has once again demonstrated Africa's structural dependence on global commodity markets.
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UK facing worst economic shock in decades IMF
British households are facing renewed pressure on living standards as fuel costs surge, the Fund has warned The UK is facing one of the largest economic shocks of any country from the Middle East conflict, the International Monetary Fund (IMF) has warned, saying it is "especially exposed" to surging energy prices due to its heavy reliance on gas-fired power.
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Dubai crackdown hits Iran’s economic lifeline, squeezes IRGC networks
The arrest of dozens of IRGC-linked money changers in the United Arab Emirates is one of the most serious blows yet to Tehran’s sanctions-evasion network, laying bare how heavily the Islamic Republic has depended on Dubai as an economic lifeline.
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US fuel prices surge past $4 as Iran war disrupts oil
NEW YORK CITY, New York: U. S. gasoline prices have climbed above US$4 a gallon for the first time since 2022, as the Iran war drives a global surge in oil costs and adds to pressure on household budgets.
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Morgan Stanley turns cautious, downgrades global equities
NEW YORK CITY, New York: Morgan Stanley has downgraded global equities and shifted toward safer assets, citing rising uncertainty from the Middle East conflict and its impact on oil markets. The Wall Street brokerage cut its rating on global equities to "equal weight" from "overweight", while raising U. S.
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Argentina designates Iran’s Revolutionary Guards as a terrorist organization
Argentina has designated Iran’s Islamic Revolutionary Guard Corps a terrorist organization, broadening a years-long effort by Buenos Aires to hold Tehran and its proxies responsible for the deadliest attacks in the country’s history.
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UAE airlines bar Iranian nationals from entry, transit amid West Asia Conflict
Dubai [UAE], April 1 (ANI): The United Arab Emirates (UAE) airlines, including flydubai and Emirates, on Wednesday, through their websites, announced that Iranian nationals are not permitted to enter or transit the country, as reported by Xinhua. However, the announcement made on the flydubai website said that Iranian nationals holding a UAE 'Golden Visa' are exempt from the restriction, as reported by Xinhua.
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Malaysia ships not paying any toll to pass Strait of Hormuz, government says
Malaysia ships not paying any toll to pass Strait of Hormuz, government says Malaysia has several ships waiting in a queue to transit the Strait of Hormuz, and they have been allowed to pass without having to pay any tolls to Iran, a spokesperson for the government said on Wednesday. "We will not pay any toll as what may have been misunderstood by some netizens online. We're not paying anything," Fahmi Fadzil, who is also communications minister, told a regular press conference.
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Sensex, Nifty rebound sharply up over 2%, amid easing Iran tensions and global optimism
Mumbai (Maharashtra) [India], April 1 (ANI): India's benchmark indices staged a sharp rebound at the opening bell on Wednesday, tracking a relief rally in global equities amid easing geopolitical tensions. The BSE Sensex opened at 73,630. 84, surging 1683.
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"Tumbling down": Trump predicts gas price plunge following US exit from Iran
Washington, DC [US], April 1 (ANI): US President Donald Trump has stated that domestic gas prices will see a rapid decline once the United States concludes its military operations in Iran. Speaking from the Oval Office on Tuesday, the President indicated that the end of the conflict is the primary key to providing economic relief to American motorists.
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'All I have to do is leave Iran': Trump says fuel prices will fall after operation ends
'All I have to do is leave Iran': Trump says fuel prices will fall after operation ends President Donald Trump said gas prices will fall quickly once the United States completes its military operation in Iran, as fuel costs hit their highest level in years. “All I have to do is leave Iran, and we’ll be doing that very soon, and they’ll come tumbling down,” Trump told reporters. The national average price has reached about $4 a gallon, the highest since 2022.
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Iran’s inflation surges further as consumer prices hit new highs
Iran’s official data show inflation accelerating again amid a war with the United States and Israel, with prices more than fivefold higher than in 2021 and food costs rising even faster, hitting poorer and rural households hardest despite signs of monthly easing.
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Bilateral Trade Agreement with US could prove "devastating" for domestic apple growers: Congress' Kuldeep Singh Rathore
Shimla (Himachal Pradesh) [India], March 31 (ANI): Congress MLA and spokesperson Kuldeep Singh Rathore said that the proposed Bilateral Trade Agreement with the United States, being projected as a diplomatic success, could prove 'devastating' for domestic apple growers who operate on small landholdings of one to two acres, compared to large-scale orchards of nearly 100 acres in the US.
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Trump urges allies to buy from US or "Go get your own oil" from Hormuz Strait
Washington DC [US], March 31 (ANI): Amid deepening global energy turmoil linked to the ongoing war in Iran and the effective closure of the Strait of Hormuz, which is a vital chokepoint through which a significant proportion of the world's oil supply normally flows, US President Donald Trump on Tues
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Will the Iran Crisis Push the World to Rethink Oil and Gas?
A growing energy crisis could push countries to burn more fossil fuels in the short term, experts say. Plus more climate news.
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Russia will not sell oil to price cap backers Moscow
The Western anti-market price limit disrupts supply chains amid rising energy demand, Deputy Foreign Minister Andrey Rudenko has said Moscow will not supply oil to countries backing an "anti-market" price cap scheme, Russian Deputy Foreign Minister Andrey Rudenko has said, as demand for crude rises amid the Middle East conflict.
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Ethiopia rations fuel as shortages hit supplies
Ethiopia rations fuel as shortages hit supplies Ethiopia has begun rationing fuel as shortages affect supplies amid the US-Israeli war on Iran. Authorities said priority will be given to public transport and vehicles carrying essential goods, after daily diesel supply fell from 9. 2 million litres to 4.
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Explainer: Is U.S. truly ready to seize Iran's Kharg Island?
Tom Kloza, chief energy advisor for Gulf Oil, said that the United States seizing the island makes no sense if the Strait remains blocked. "It's a silly exercise because all of the oil loaded at Kharg Island pretty much moves through the Strait of Hormuz. " BEIJING, March 31 (Xinhua) -- U.
