World shares are mixed as investors watch for release of oil reserves and crude heads higher - AP News

World shares are mixed as investors watch for release of oil reserves and crude heads higher  AP News

UK economy flatlines in January as people cut back on eating out

Analysts had been expecting 0.2% growth for the UK economy at the beginning of the year.

US Treasury Gives Green Light for Sale of More Russian Oil - Bloomberg.com

US Treasury Gives Green Light for Sale of More Russian Oil  Bloomberg.com

Why Does Oil Matter So Much to the Global Economy?

The war in the Middle East has sent oil and gas prices soaring. Our energy reporter Rebecca F. Elliott breaks down how much the world continues to depend on reliable sources of oil.

By Rebecca F. Elliott, Sutton Raphael, Joey Sendaydiego, James Surdam and Nikolay Nikolov

UK economy failed to grow in January

Figure comes as surging energy prices pose new threat

White House considers waiving shipping rules in bid to ease energy prices

The White House is considering waiving a 1920 law that requires goods transported between U.S. ports be carried on U.S.-owned ships as global shipping disruptions continue due to Iran war.

By Rachel Lerman, Evan Halper

Global food supplies could be badly hit if Iran war drags on, says fertiliser boss

Yara’s Svein Tore Holsether says it would be ‘catastrophic’ if the strait of Hormuz was closed for a year The boss of one of the world’s largest fertiliser companies has said global food supplies could be badly damaged this year if the Iran war becomes an extended conflict. Svein Tore Holsether, the chief executive of Norway’s Yara International, has called on global leaders to consider the impact that soaring food prices will have in some of the world’s poorest countries “before it is too l...

By Lisa O’Carroll

IEA announces release of 400 million barrels of oil. But is it enough?

Global energy watchdog pledges largest release from oil reserves amid war on Iran. But is 'one-shot' tactic sufficient?

Oil and Nvidia are key for Wall Street next week amid Iran war volatility

Investors will be awaiting developments with Nvidia and the Middle East as the war against Iran by the U.S. and Israel faces a third week.

Russia to gain billions in additional revenue from oil price surge due to war with Iran

Russia has been earning up to US$150 million a day in additional budget revenue from oil sales, becoming the biggest beneficiary of the conflict in the Middle East.

By Artur Kryzhnyi

US temporarily allows sale of Russian oil stranded at sea

The US Treasury Department ⁠license allows the sale of Russian oil already loaded onto vessels for the next 30 days.

‘We cut down the menu’: Cooking gas crisis hit restaurants in India amid war in Iran

Restaurants in India are suffering the consequences of disruptions to supplies of cooking gas caused by the war in the Middle East. Two restaurant owners describe the mounting challenges of operating under the crisis and the measures they’re taking to adapt.

By The FRANCE 24 Observers

What’s next for crude-oil prices as wealthy nations consider a release of their reserves

Panic in the oil market has calmed down, with prices pulling back from the week’s highs near $120 a barrel after a group of wealthy nations said they will consider a coordinated release of emergency global crude reserves

By Myra P. Saefong

Oil prices hit $103 per barrel despite Trump easing some Russian sanctions

Analysts estimate about 125 million barrels of Russian oil are currently being shipped

By David McHugh

Oil prices are shooting up. Will the cost of flying follow suit?

Airlines buy their fuel as they go, so any price hikes are going to hit them immediately, says aviation expert

By Chris Knight

Gujarat has more than four lakh LPG cylinders, says Minister

Adequate LPG stocks were available and the State govt. was closely monitoring the situation in view of developments in the region, Food and Civil Supplies Minister Ramanbhai Solanki informs State Assembly

War upends life as LPG crisis hits not only eateries & hostels but also temples

The ongoing conflict between Iran, the US, and Israel has triggered a severe LPG cylinder shortage across India, leading to black marketing, price hikes, and widespread business closures. Restaurants and educational institutions are forced to reduce operations and meals, while families resort to traditional cooking methods to cope with the crisis.

By TNN

Oil price rise: Market sinks 5% in a week, logs worst 4-yr weekly fall

By Akash Mandal

Sensex, Nifty sharply drop amid oil shortage fears, Trump admin probe

The BSE Sensex tumbled 992.53 points to 75,871.18 in early trade, while the Nifty dived 310.55 points to 23,556.30.

Rs 19 Lakh Crore Lost In Worst Week In 4 Years As Oil Shock Rattles Markets

Investors lost about Rs 19 lakh crore as the Indian markets logged their worst week in four years, struggling amid the Middle East conflict and the oil shock from the closure of the Strait of Hormuz.

Oil heads for weekly gains despite US sanctions waiver on Russian oil

Oil prices headed for weekly gains as of Friday, despite the US trying to ease supply concerns by issuing a 30-day license for countries to buy Russian oil and petroleum products stranded at sea. Brent futures for May rose $1.02, or 1 per cent, to $101.48 a barrel at 07:30 GMT, heading for a weekly increase of nearly 10pc. US West Texas Intermediate (WTI) crude for April was up by 94 cents, or 1.0pc, at $96.67 a barrel, poised for more than a 6pc uptick for the week. The license was issued in...

By none@none.com (Reuters)

Korean won falls against dollar amid oil price surge over supply concerns

The South Korean currency fell against the US dollar Friday as global oil prices surged amid heightened tensions in the Middle East. The won opened at 1,490.6 per dollar, down 9.4 won from the previous session. The weakness came as global oil prices spiked again overnight, hovering around $100 per barrel, after Iran's new leader, Mojtaba Khamenei, warned that the Strait of Hormuz would remain closed, raising concerns about supply disruptions and escalating tensions in the Middle East. The foreig

By The Korea Herald

Russia plans 10 per cent budget cut as energy revenues fall

The Russian government is preparing a possible 10 per cent cut to all “non-sensitive” spending in this ​year’s budget, sources told Reuters, but the final decision will hinge on the sustainability of the oil price rise triggered by the war ‌in Iran. As the war in Ukraine enters its fifth year, Russia is facing a […]

With Middle East in flames, Texan bunker maker sees business boom

With the United States and Israel pounding Iran, and Tehran retaliating with strikes across the region, a bomb shelter company in Texas has seen demand soar for its bunkers.

Wall Street closes lower, posts weekly loss as war on Iran fuels inflation worries

“It’s very much an emotional market,” said strategist Paul Nolte.

Seoul shares down late Fri. morning as oil swings on prolonged Hormuz blockade - Yonhap News Agency

Seoul shares down late Fri. morning as oil swings on prolonged Hormuz blockade  Yonhap News Agency

Middle East conflict pushes up shipping costs and reroutes container lines

The escalation of the conflict in the Middle East is raising transport costs and forcing major container shipping lines to adjust routes, as carriers respond to higher fuel costs, supply disruption and mounting uncertainty across key sea lanes. Maersk and CMA CGM have both announced emergency fuel surcharges, while Drewry said its World Container Index […]

By Newsroom

Quant ratings roundup as fertilizer stocks rally on Middle East supply fears

Uncertainty over the fuel that drives our economy

There are so many factors feeding into see-sawing petrol prices that predicting a landing price at the pump has become impossible.

IEA to launch largest-ever release of oil reserves - NZ Herald

IEA to launch largest-ever release of oil reserves  NZ Herald

U.S. temporarily lifts sanctions on Russian oil as Middle East war drives up energy prices

The United States has temporarily eased sanctions on Russian oil that is currently at sea. The exemptions, issued by the Treasury Department on Thursday, will remain in effect until April 11.

Double whammy for the masses as govt hikes RLNG rates after increase in petrol price

Price for Sui Northern consumers reaches Rs622 per MMBtu, while it reaches Rs634 per MMBtu for Sui Southern consumers

By Web Desk

Mideast war creates largest oil supply disruption in history: IEA

The Middle East war 'is creating the largest supply disruption in the history of the global oil market,' the International Energy Agency (IEA) said Thursday, as the energy crisis c...

IEA proposes largest ever oil release from strategic reserves, WSJ says - The Daily Star

IEA proposes largest ever oil release from strategic reserves, WSJ says  The Daily Star

Nigeria benefits from Dangote Refinery as global crude prices surge – PETROAN

PETROAN hails the Dangote Refinery in Nigeria as a ‘salvation’ amid global crude price surges, highlighting its crucial role in stabilizing domestic fuel s Read More: https://punchng.com/nigeria-benefits-from-dangote-refinery-as-global-crude-prices-surge-petroan/

By Punch Newspapers

Brent crude tops $100 as Iran attacks offset IEA stockpile release

As the US-Israel strikes on the Islamic republic approached their third week, the conflict showed no signs of letting up with Tehran responding with more retaliatory attacks across the Gulf. The post Brent crude tops $100 as Iran attacks offset IEA stockpile release appeared first on Vanguard News.

By Henry Oduah

​India reviewing diesel supply requests from Bangladesh, Sri Lanka and Maldives​ - phnompenhpost.com

​India reviewing diesel supply requests from Bangladesh, Sri Lanka and Maldives​  phnompenhpost.com

War lands India restaurants in soup - Kuwait Times

War lands India restaurants in soup  Kuwait Times

IEA Orders Record Release of Emergency Oil Reserves to Curb Surging Prices

Agadir – The International Energy Agency (IEA) has authorised the largest release of oil from strategic stockpiles in its history, making 400 million barrels available to global markets as a move to ease the rising of crude prices.  The decision was made by all 32 IEA member countries. This release is more than the double the […] The post IEA Orders Record Release of Emergency Oil Reserves to Curb Surging Prices appeared first on Morocco World News.

By Hanane Afeznaoui

IEA agrees record 400 million barrel oil release as war drives crude volatility

The International Energy Agency has agreed to release a record 400 million barrels of oil from strategic stockpiles in an effort to calm global crude markets following the outbreak of war involving the United States, Israel and Iran. The decision represents the largest coordinated emergency stock release ever proposed by the Paris-based energy watchdog. The […]

By Isaac Agyei

Iran conflict reshapes energy markets, and Russia may be biggest winner - AzerNews

Iran conflict reshapes energy markets, and Russia may be biggest winner  AzerNews

US eases sanctions on Russian oil to ease energy prices inflated by Iran war - thecitizen.co.tz

US eases sanctions on Russian oil to ease energy prices inflated by Iran war  thecitizen.co.tz

Iran intensifies its strikes; the IEA wants to unlock oil reserves - Seneweb

Iran intensifies its strikes; the IEA wants to unlock oil reserves  Seneweb