Strain on food, fuel and aid systems continues as the global impacts of the Middle East crisis deepen. Rising oil prices, supply disruptions and mounting transport costs are affecting humanitarian operations and access to essential goods far beyond the region. Stay with us for live updates.
American producers are under pressure from investors to keep spending in check, and they are wary of drilling more wells because they are not sure oil prices will stay high.
By failing to sanction Israel, the EU has confirmed once again its global irrelevance Since the Russian invasion of Ukraine in February 2022, the global order is endangered by increasing geopolitical chaos. The US and Europe took a tough stance towards Russia by severing energy supplies, adopting unprecedented sanctions , and providing weapons deliveries and intelligence support to Kyiv’s government. No western decision-maker considered, or more likely ignored the fact, that by sanctioning Russia, the world’s primary commodities producer, dire consequences for their economies were to be expected.
FRANKFURT, Germany: The United Arab Emirates' decision to leave OPEC marks one of the most significant shifts in the global oil market in decades, potentially weakening the cartel's ability to control supply and influence prices over the long term.
New York [US], May 1 (ANI): United Nations Secretary General Antonio Guterres has urged the reopening of the Strait of Hormuz, saying that the longer it is choked, 'the higher the cost to humanity. ' 'My message is clear: Open the Strait. Let all ships pass.
European nations imposed temporary taxes in the 2022 energy shock when Russia invaded Ukraine, but whether they can effectively help households is up for debate.
The next phase of the Iran–US standoff may be decided not on the battlefield, but by how much economic pressure each side can withstand.
UAE bans travel to Iran, Lebanon and Iraq, urges its citizens to leave region The United Arab Emirates has banned its citizens from travelling to Iran, Lebanon and Iraq due to regional developments, the foreign ministry said on Thursday. The ministry also urged citizens currently in these countries to leave immediately and return home.
Trump, Fox News praise UAE decision to leave Opec Submitted by MEE staff on Thu, 04/30/2026 - 17:57 Fox News analyst says Saudi Arabia will no longer be able to 'control' UAE, as Trump celebrates its departure from the oil cartel US President Donald Trump attends a farewell ceremony at the White House on the final day of Britain's King Charles and Queen Camilla's state visit to the US, in Washington, DC, on 30 April 2026 (Samir Hussein/Reuters) Off US President Donald Trump on Wednesday indicated that he approved of the decision by the United Arab Emirates to leave the Organization of Petroleum Exporting Countries (Opec) amid the fallout from the US-Israeli war on Iran. "I think it's great. I know him very well.
Trump administration weighing measures to increase US oil output The Trump administration is talking to oil companies and considering measures to increase production in the US "really soon", White House economic adviser Kevin Hassett told reporters on Thursday.
UN chief warns Hormuz closure 'strangling' global economy UN chief Antonio Guterres sounded the alarm on Thursday over the worsening global economic impacts of the Strait of Hormuz remaining effectively closed due to the Iran war. The closure of the vital waterway is "strangling the global economy," the secretary-general warned in remarks to press. Even if restrictions were lifted today, "supply chains will take months to recover, prolonging lower economic output and higher prices," he said.
With no end in sight to the shipping stand-off in the Strait of Hormuz and as Brent crude oil prices hovered at around $118 in trading on Thursday, the prospect of running out of fuel, gas and more has focused attention in the world’s capitals on finding solutions, quickly.
LONDON, U. K. : Europe is facing growing concerns over jet fuel supply as shipments from the Middle East, its largest external source, effectively stopped in April, threatening a potential crunch ahead of the peak summer travel season.
Eurozone inflation jumps to 3. 0 percent as Israeli-US war drives up energy prices Inflation across the euro area has accelerated sharply, driven by surging energy costs linked to the Israeli-US war on Iran, according to fresh data from Eurostat. Consumer prices rose 3.
By failing to sanction Israel, the EU has confirmed once again its global irrelevance Submitted by Marco Carnelos on Tue, 04/28/2026 - 08:45 By wilfully ignoring blatant US-Israeli acts of aggression, the EU is facilitating a global regime of impunity that contravenes its founding principles EU High Representative for Foreign Affairs Kaja Kallas holds a press conference in New York City, 22 September 2025 (Timothy A Clary/AFP) On Since the Russian invasion of Ukraine in February 2022, the global order is endangered by increasing geopolitical chaos. The US and Europe took a tough stance towards Russia by severing energy supplies, adopting unprecedented sanctions , and providing weapons deliveries and intelligence support to Kyiv’s government. No western decision-maker considered, or more likely ignored the fact, that by sanctioning Russia, the world’s primary commodities producer, dire consequences for their economies were to be expected.
Oil surge triggers ‘biggest energy crisis’, IEA chief warns The head of the International Energy Agency has sounded the alarm over spiralling oil prices, warning of a deepening global economic shock as conflict in the Middle East disrupts markets. Speaking in Paris, Fatih Birol said the surge in crude prices is straining economies worldwide and driving up costs for governments already under pressure. "The world is facing the biggest energy crisis in history," Birol said at a high-level meeting on the energy transition at IEA headquarters.
The jump follows reports of Donald Trump being ready to continue the blockade of Iranian ports for months The price of Brent crude oil rose to $126 on Thursday as US-Iran talks stalled and reports that US President Donald Trump may extend the blockade of Iranian ports. It hit $126. 3 for the first time since March 2022, when the Ukraine conflict escalated.
Mumbai (Maharashtra) [India], April 30 (ANI): The domestic stock markets opened under heavy selling pressure on Thursday as Brent crude oil futures surged above USD 120 per barrel, denting investor sentiment amid continued uncertainty in West Asia. The Nifty 50 index opened at 23,899. 20, falling 278.
New posts 11:25 Iranian President Says US Naval Blockade 'Doomed To Failure' Iranian President Masud Pezeshkian said on April 30 that the US naval blockade of Iranian ports is contrary to the interests of regional countries and will ultimately fail.
New posts 03:52 We are now closing the live blog for the day. We'll be back at 7:30 a. m.
