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IEA Warns of Severe Oil and Gas Crisis Amid U.S.-Iran Tensions

IEA Warns of Severe Oil and Gas Crisis Amid U.S.-Iran Tensions

The International Energy Agency (IEA) has issued a warning about the severe impact of the ongoing conflict between the U.S. and Iran on global oil and gas markets. The crisis, exacerbated by the blockade of the Strait of Hormuz, is described as more serious than the oil shocks of 1973, 1979, and 2022 combined. President Trump has set a deadline for Iran to reopen the waterway, threatening further military action if demands are not met. The situation has led to volatile oil prices, with significant implications for global markets. The conflict has already resulted in military strikes on Iranian infrastructure, further escalating tensions.
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China and Russia veto UN resolution on protecting Hormuz shipping

China and Russia veto UN resolution on protecting Hormuz shipping

By David Brunnstrom April 7 (Reuters) - China and Russia on Tuesday vetoed a U.N. resolution encouraging states to coordinate efforts to protect commercial shipping in the Strait of Hormuz, calling the measure biased against Iran, while Washington's ambassador to the world body called on "
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Danone CEO Warns of Potential Price Hikes Amid Iran Conflict and Rising Inflation

Danone CEO Warns of Potential Price Hikes Amid Iran Conflict and Rising Inflation

Danone CEO Warns of Potential Price Hikes Amid Iran Conflict and Rising Inflation
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Iran War may boost inflation, but not expectations, per Dallas Fed research

Iran War may boost inflation, but not expectations, per Dallas Fed research

By Ann Saphir April 7 (Reuters) - An extended disruption of the world's oil trade from the Iran War could lift headline U.S. inflation to well over 4% by year-end, with even bigger increases possible in the short-term, fresh research from the Dallas Federal Reserve Bank suggests. 
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Morning Bid: Two weeks to breathe

Morning Bid: Two weeks to breathe

A look at the day ahead in European and global markets from Ankur Banerjee A sparkling relief rally across assets will greet Europe after U.S.
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IATA chief says jet fuel supply could take months to recover after Hormuz reopening

IATA chief says jet fuel supply could take months to recover after Hormuz reopening

SINGAPORE, April 8 (Reuters) - The head of a body representing global airlines said on Wednesday that even if Iran reopened the Strait of Hormuz it would take months for jet fuel supply to recover given disruptions to Middle East refining capacity. Oil fell below $100 per barrel after U.S.
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President Trump's Iran Deadline Approaches Amidst Rising Tensions

President Trump's Iran Deadline Approaches Amidst Rising Tensions

President Trump has set a deadline for Iran to reopen the Strait of Hormuz by 8 p.m. ET, as tensions between the U.S. and Iran escalate. The President has threatened widescale attacks on Iran's infrastructure if the deadline is not met. This comes as oil prices continue to rise due to the closure of this key maritime passageway. The situation remains tense with hopes for a ceasefire deal diminishing. Wall Street analysts are closely monitoring the situation, with some sending representatives to the region for firsthand observations.
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Deal, delay or strike? Investors on edge as Trump's Iran deadline nears

Deal, delay or strike? Investors on edge as Trump's Iran deadline nears

April 7 (Reuters) - Global markets have entered a period of heightened uncertainty ahead of a deadline set by U.S.
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President Trump's Deadline for Iran to Reopen Strait of Hormuz Impacts U.S. Stock Futures

President Trump's Deadline for Iran to Reopen Strait of Hormuz Impacts U.S. Stock Futures

President Trump's Deadline for Iran to Reopen Strait of Hormuz Impacts U.S. Stock Futures
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Oil prices rise as US-Israeli war with Iran continues to disrupt supply

Oil prices rise as US-Israeli war with Iran continues to disrupt supply

By Katya Golubkova TOKYO, April 6 (Reuters) - Oil prices climbed on Monday on continuing fears of supply losses because of shipping disruptions in the key Middle East producing region from the U.S.-Israeli war with Iran. Brent crude futures rose $1.71, or 1.6%, to $110.74 a barrel by 0057 GMT. U.S.
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Indian LPG Ships Navigate Gulf Amidst Middle East Tensions

Indian LPG Ships Navigate Gulf Amidst Middle East Tensions

Recent tracking data from LSEG and Kpler indicates that two more Indian-flagged liquefied petroleum gas (LPG) tankers have departed the Gulf, carrying fuel to a South Asian nation. This movement occurs amidst significant disruptions in the Strait of Hormuz due to the U.S. and Israeli conflict with Iran, which has severely impacted shipping routes. Despite these challenges, Iran has stated that non-hostile vessels can transit the waterway if they coordinate with Iranian authorities. The total number of Indian LPG carriers that have successfully crossed the Strait now stands at eight, with several already reaching India. The country, being the second-largest LPG importer globally, is facing severe gas shortages, prompting the government to prioritize household supplies over industrial use.
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Israeli Security Cabinet Prepares for Potential Escalation as President Trump's Iran Deadline Nears

Israeli Security Cabinet Prepares for Potential Escalation as President Trump's Iran Deadline Nears

The Israeli security cabinet is on high alert as President Trump's deadline for Iran to reopen the Strait of Hormuz approaches. Israeli officials are preparing for a possible escalation in the conflict with Iran, which could involve strikes on Iranian energy and infrastructure targets if diplomatic efforts fail. The deadline set by President Trump is expected to mark a significant turning point, potentially leading to broader military actions. Israeli officials are coordinating with U.S. Central Command to identify potential targets, while diplomatic efforts by countries like Egypt, Pakistan, and Turkey are ongoing to prevent further escalation. However, there is skepticism about the success of these diplomatic efforts, as Iran has so far rejected proposals for a ceasefire.