File photo (Picture credit: AP) Six major powers, Britain, France, Germany, Italy, the Netherlands and Japan, said on Thursday they are ready to support efforts to ensure safe passage through the Strait of Hormuz, as the conflict in the Gulf continues to disrupt one of the world’s most critical energy chokepoints.In a joint statement, the…
Executives for high-end brands worry that a prolonged war will hurt sales in a city important to the future of the luxury industry. Source link
If the US were to ‘unsanction’ Iran oil at sea, India would be able to step up procurement. (AI image) Will India get access to Iran crude oil soon? The Donald Trump administration has signalled the possibility of waiving sanctions on floating Iran crude oil to ease the ongoing shock in the global energy markets….
Jerome H. Powell, the Fed chair, wants to keep the central bank’s policy options open as officials stare down another economic shock that threatens to stoke inflation and crimp growth. Source link
European gas prices have more than doubled since the US-Israel-Iran conflict began. (AI image) Is an Armageddon scenario about to play out? Europe and Asia are facing a nightmare scenario with the escalating crisis in the Middle East now increasingly impacting key energy infrastructure. The latest shockwave for the market has come in the form…
The trade organization said that a slowdown in trade in 2026 could become even more extreme if the war in the Middle East persists. Source link
The Centre on Thursday launched the RELIEF (Resilience & Logistics Intervention for Export Facilitation) scheme with an outlay of Rs 497 crore to support Indian exporters facing disruptions due to the ongoing conflict in the Middle East, as the government moved to cushion the impact of rising freight costs, insurance premiums and shipping delays.The scheme…
Attacks on oil and natural gas facilities this week could make it much harder for Persian Gulf countries to rebuild and restart production when the war eventually end. Source link
Benchmark equity indices Sensex and Nifty suffered a sharp sell-off on Thursday, with both plunging more than 3 per cent as surging crude oil prices, weak global cues and escalating attacks on energy infrastructure in West Asia triggered a broad-based market rout. The fall was especially severe in financials, autos and industrials, while ONGC stood…
new video loaded: The Unexpected Impacts of High Oil Prices Our chief economics correspondent, Ben Casselman, breaks down how gasoline prices have responded to the oil crisis in the Persian Gulf, and what is in store for inflation if the price of oil remains above $100 per barrel. By Ben Casselman, Sutton Raphael, James Surdam,…
