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Economy
Oil stocks drain at record pace as IEA warns of renewed price swings
The International Energy Agency says the oil market is likely to remain in deficit until the final quarter of the year, as disruptions at the Strait of Hormuz continue to constrain supply, increasing the risk of renewed price volatility.
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Economy
Gold or oil: Which shields you best from Iran war inflation?
Conventional wisdom holds that gold protects investors during war and inflation. The Iran conflict has turned that assumption on its head. Since the outbreak of the war, Brent crude has rallied 37%, while gold has fallen 10%. The driving force is interest rates, not geopolitics.
Iran
US seeks 'maritime freedom' coalition to restart Hormuz shipping
Iran effectively closed the crucial waterway when the war broke out on 28 February. Normally one-fifth of the world's oil and liquefied natural gas transits the waterway. Its closure has sent energy prices skyrocketing around the world.
Iran
Trump says US military blockaded Iranian ports to pressure Tehran
The US blockade comes in an attempt to economically pressure Iran to reopen the Strait of Hormuz to maritime traffic after its six-week closure caused global oil prices to surge. Roughly 40 vessels have passed through since the start of the ceasefire, down from 100 or more per day before the war.
Europe News
What impact could an Iran ceasefire have on energy prices?
The announcement of a two-week ceasefire in the Middle East has triggered an immediate drop in oil and natural gas prices, raising hopes for lower energy bills. However, consumers might not see the effects for several months, even though the oil industry has issued some optimistic forecasts.
