
Asia’s big economies brace for Iran war energy shock
Some of the world’s biggest fuel importers rush to secure oil and gas supplies as Middle East conflict chokes flow
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Asia’s big economies brace for Iran war energy shock
Some of the world’s biggest fuel importers rush to secure oil and gas supplies as Middle East conflict chokes flow
Read full article →Oil jumps 5pc on supply concerns amid conflict
HOUSTON: Oil prices jumped five per cent on Thursday, extending a rally as the escalating US-Israeli war with Iran disrupted supplies and shipping, driving some major producers in the Middle East to reduce output. Brent crude was up $4.09, or 5.02pc, at $85.49 per barrel by 1:37pm EST, a fifth session of gains. US West Texas Intermediate crude rose $6, or 8.04pc, to $80.66. US crude futures hit their highest since July 2024 during the session. “There is no movement in the Strait of Hormuz so ...
By [email protected] (Reuters)
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