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US President Donald Trump agreed Tuesday to suspend military attacks against Iran for two weeks, pulling back from threats to destroy Iranian “civilization” just hours before his self-imposed deadline expired. The conditional ceasefire, announced via social media, hinges on Tehran’s commitment to reopen the Strait of Hormuz for safe international shipping . “Subject to…
Rising energy costs and fractured supply chains are threatening to derail Japan’s fragile economic recovery. In its quarterly report released on April 6, the Bank of Japan (BOJ) warned that the war in the Middle East is beginning to squeeze regional businesses. Policymakers noted that while the domestic economy remains resilient, the closure of the…
Gold prices slipped on Monday as a resurgent dollar and robust American labour data outweighed the geopolitical risk premium from the Middle East. Spot gold fell 0.4 per cent to $4,658.90 per ounce, retreating from recent highs despite the ongoing maritime blockade in the Persian Gulf. Investors are recalibrating their portfolios as the prospect of…
Oil prices climbed on Monday as a fresh cycle of threats between Washington and Tehran dashed hopes for a diplomatic truce. President Donald Trump used his Truth Social platform to warn of an imminent strike on Iranian power plants and bridges. He demanded that Iran bow to his terms for reopening the Strait of Hormuz….
Oil prices are flirting with a four-year high as OPEC+ struggles to bridge a massive supply chasm. Eight member nations agreed on Sunday to raise production quotas by a modest 206,000 barrels per day for May. The move is largely symbolic. Ongoing hostilities between Israel, the United States, and Iran have effectively choked the Strait…
Beijing has called for an immediate cessation of military hostilities in the Middle East following United States President Donald Trump’s threat to unleash devastating strikes on the Islamic republic in the coming weeks. Foreign Ministry spokeswoman Mao Ning told a regular press conference on Thursday that “military means cannot fundamentally solve the problem, and…
The United Kingdom will host an emergency summit of 35 nations on Thursday to address the paralysis of the Strait of Hormuz. Prime Minister Keir Starmer announced the virtual talks as the US-Israeli conflict with Iran effectively chokes the world’s most vital energy artery. Foreign Minister Yvette Cooper will lead the session to weigh…
American motorists are now paying more than $4 per gallon at the pump for the first time in nearly four years, as the ongoing US-Israeli war against Iran continues to choke global energy supplies through the shutdown of the critical Strait of Hormuz. The American Automobile Association (AAA) confirmed that the national average…
The global energy artery is narrowing. Iran’s Revolutionary Guards (IRGC) announced on Friday that they had intercepted and turned back three container ships attempting to transit the Strait of Hormuz. In a statement published on their official Sepah News website, the Guards declared the strategic waterway closed to any vessel travelling to or from ports…
Global energy markets are reeling as the Middle East conflict enters a volatile new phase. Crude oil prices surged by nearly 6% on Thursday, climbing to $108.3 per barrel after Iran dismissed a 15-point US peace proposal. Tehran labelled the plan “unfair” and “skewed” toward American and Israeli interests. The rejection abruptly reversed a brief…
