Asia’s oil dependence leaves it exposed after US-Israel strikes on Iran: Morgan Stanley

Asian countries are heavily reliant on imported oil and gas and could suffer serious economic fallout after the United States and Israel launched strikes on Iran, Morgan Stanley said. The manufacturing-intensive, export-reliant region was “more sensitive” to oil price volatility than Europe or the US, the New York-based investment bank said in a research note on Sunday. Asia’s oil and gas trade deficit stood at 2.1 per cent of gross domestic product, it calculated. Every sustained US$10...

By Ralph Jennings

CPPE warns Iran-US-Israel tensions could affect Nigeria’s oil revenue, economy

The Centre for Promotion of Private Enterprises (CPPE) has raised concerns over the potential impact of escalating tensions between Iran, the United States, and Israel on Nigeria’s economy, particularly in relation to crude oil exports and foreign exchange earnings. The post CPPE warns Iran-US-Israel tensions could affect Nigeria’s oil revenue, economy appeared first on Vanguard News.

By Nwafor

Oil Surges as Strikes on Iran Shake Energy Markets

Rabat – Oil markets opened the week under pressure after US and Israeli strikes on Iran, followed by Iranian missile attacks on Israeli and US military facilities across the Middle East, raised fears of a wider regional confrontation. West Texas Intermediate, the US benchmark, climbed to $72.79 per barrel early Monday. The price stood near […] The post Oil Surges as Strikes on Iran Shake Energy Markets appeared first on Morocco World News.

By Firdaous Naim

Oil prices spike and stock markets drop after US-Israeli strikes on Iran

Oil prices rose by up to nine per cent on Monday after United States and Israeli strikes on Iran and reported attacks on tankers near the Strait of Hormuz unsettled global energy markets. Brent crude climbed to around 79 dollars a barrel in early trading, while US benchmark West Texas Intermediate rose above 72 dollars. Equity markets in Europe and Asia fell as investors reacted to the widening conflict and the risk of supply disruption.