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American warplanes bombed targets in southern Iran on Monday as a delicate ceasefire proposal showed signs of unraveling. The Pentagon directed strikes against Iranian military sites in Qeshm and Goruk. This action followed a series of drone and missile threats to regional shipping channels. Meanwhile, Kuwaiti air defences intercepted several hostile missiles over the Gulf….
Japan has commenced the release of its strategic petroleum reserves in response to a coordinated global effort by International Energy Agency member states to stabilize oil markets following price surges triggered by escalating conflict in the Middle East. The Japanese government confirmed the drawdown on Monday through an official notice published in the government…
Global crude oil markets recorded their first significant decline since the escalation of Middle East hostilities, with benchmark Brent crude falling 8.45 percent to 90 per barrel and United States West Texas Intermediate (WTI) dropping 8.58 percent to 86.77 per barrel on Tuesday. The correction follows Monday’s dramatic surge that pushed prices past 100…
