Iranian missile strikes are costing the oil industry billions, with the IEA warning of a severe energy crisis, while a TotalEnergies CEO cautions that oil and gas prices could surpass 2022 highs if the Hormuz crisis persists, and oil prices rise as markets assess supply risks after Iran denied US talks.
Southeast Asian nations, including the Philippines, Vietnam, and Thailand, are grappling with a severe fuel crisis and rising prices for everyday items like cooking oil and bottled water, leading to protests and flight suspensions as the Middle East conflict disrupts global supply chains.
President Trump's claims of 'very good' talks with Iran, aimed at de-escalation and impacting oil markets, are met with denials from Iran regarding direct negotiations, as discussions continue for a resolution in the Middle East.
The Philippine Department of Transportation announced that airport fees, including terminal and navigation charges, will be discounted starting April 1, 2026, in response to recent oil price hikes.
Asia Pacific Breweries Singapore, a subsidiary of Heineken and maker of Tiger Beer, announced it will scale down large-scale brewing operations at its Tuas plant, leading to approximately 130 job displacements as some production moves to Malaysia and Vietnam.
Motor Oil reported strong profits and a significant dividend, alongside plans for a new €220 million investment cycle, as it navigates geopolitical uncertainty and strengthens its presence in green energy.
SBM Offshore has been awarded Front-End Engineering and Design (FEED) contracts by ExxonMobil for the Longtail floating production, storage, and offloading (FPSO) project in Guyana.
UK minister Michael Shanks stated that British drivers do not need to alter their driving habits or fuel purchasing methods, despite recent suggestions from the International Energy Agency.
An explosion and massive fire at the Valero oil refinery in Port Arthur, Texas, led to thick smoke covering the city and shelter-in-place orders for residents. Video footage shows a large plume of smoke and flames, as authorities continue to investigate the incident which also caused oil prices to jump.
WorldSCMPhvgTimes of India+1cyprus-mail40m ago4 sources
US President Donald Trump's energy war over Iran, exacerbated by Tehran's control of the Strait of Hormuz, is causing global repercussions, with Pakistan, China, and Sri Lanka experiencing fuel price hikes. This crisis is also prompting countries like India, South Korea, and Indonesia to adjust their energy policies, including increasing coal use, as the world pays the price for disrupted oil flows.
An Iranian missile attack on Tel Aviv injured at least four civilians and damaged a building, with the city's mayor confirming a direct hit. Reports also indicate Israeli and US forces retaliated with strikes on Iranian gas pipelines and supply depots.
Toyota plans to invest $1 billion in two of its U.S. plants to increase overall production and prepare one facility specifically for electric vehicle manufacturing.
This UPSC Essentials article provides practice questions for the Mains exam, focusing on the features of DME (dimethyl ether) production and India's three-stage nuclear program.
Fintech company Revolut announced a record net profit and secured its long-awaited all-clear to become a fully fledged bank in the UK, marking a landmark year for the company.
A new glossy drama series titled "Queen Silvia," inspired by the chance encounter between a German-Brazilian interpreter and a Swedish Crown Prince, is currently in production for Prime Video, with Beta Film handling sales.
David Davoli's nascent outfit Lucaville Global has formed a joint venture with Italian indie Titanus Production, with initial projects including a remake of the heist comedy 'The Treasure Of San Gennaro' with Lawrence Bender.
Global stock markets rallied and oil prices dropped significantly after US President Donald Trump announced he had 'good discussions' with Iran and postponed attacks, easing concerns about the Middle East conflict's economic consequences, with European bourses opening slightly higher amidst uncertainties over Trump's Middle East policy.
The European Commission is urging EU member states to prepare for winter as energy experts, including the IEA boss, warn that the Iran crisis's impact on the energy market could lead to a much costlier heating season, potentially surpassing the 1970s energy shocks, with higher gas and electricity prices expected.
The UK's competition watchdog has announced wide-ranging reforms for the veterinary sector, including capping the first prescription fee at £21 and requiring vets to publish price lists for services to increase transparency and fairness for pet owners.
Prime Minister Modi is seeking to calm the nation as India faces an acute gas shortage, a direct consequence of the ongoing conflict in Iran, prompting the government to convene an all-party meeting to address escalating West Asia tensions and energy security concerns.
Toyota Motor Corporation announced an investment of approximately 160 billion yen (about $1 billion USD) in its US factories, including in Kentucky, to boost production capacity for hybrid vehicles and prepare one plant for electric vehicle manufacturing amid rising demand.
The Northern Lights have been increasingly visible in the UK and other regions, displaying stunning bright colors, prompting interest in the natural phenomenon.
A gang involved in stealing copper and oil from transformers in Pune, India, was busted despite using SUVs, spotters, and WhatsApp calls to coordinate their operations.
