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Asia-Pacific markets tumble as investors brace for a prolonged war in Middle East
Commercial vessels are pictured offshore in Dubai on March 11, 2026. – | Afp | Getty Images Asia-Pacific markets opened lower Friday as oil prices soared on renewed fears that a prolonged conflict in the Middle East could further crimp energy supplies, stoking fears of a global economic downturn. Iran’s new Supreme Leader Mojtaba Khamenei […]
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U.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets
Russian supertanker Astro Lupus waits to unload its cargo of the first direct shipment of Russian crude oil on July 3, 2002 in the Gulf of Mexico. Pool | Afp | Getty Images The U.S. on Thursday temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets. U.S. Treasury Secretary Scott […]
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Stock futures are flat ahead of key inflation data; traders monitor oil prices and Iran war: Live updates
Traders prepare as sales of MDA Space Ltd begin at the New York Stock Exchange during morning trading on March 12, 2026 in New York City. Michael M. Santiago | Getty Images News | Getty Images Stock futures were little changed on Thursday night as investors await key U.S. inflation data. The report comes as […]
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Iran War: U.S. Navy will escort vessels through Strait of Hormuz as soon as ‘militarily possible,’ Bessent tells Sky News
The U.S. Navy will begin escorting ships through the Strait of Hormuz as soon as “militarily possible,” Treasury Secretary Scott Bessent told Sky News on Thursday. “That was always in our planning, that there’s the chance that the U.S. Navy or perhaps an international coalition will be escorting oil tankers through,” Bessent said in that […]
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Iran Supreme Leader Mojtaba Khamenei has verified account on X, Elon Musk’s platform
Mojtaba Khamenei; the son of the Iranian Supreme Leader Ayatollah Ali Khamenei; is seen in Tehran; Iran; on December 14; 2016. Reza B | Afp | Getty Images Iran’s new supreme leader, Ayatollah Mojtaba Khamenei, has a new “verified” account on X, the influential social media platform owned by Elon Musk. Khamenei, whose X handle […]
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Strait of Hormuz must remain closed as ‘tool to pressure enemy,’ Iran’s new supreme leader says
Son of Iran’s Supreme Leader Ayatollah Ali Khamenei, Mojtaba Khamenei, attends a demonstration to mark Jerusalem day in Tehran. Morteza Nikoubazl | Nurphoto | Getty Images Iran’s new Supreme Leader Mojtaba Khamenei has said all U.S. military bases in the Middle East should close immediately as those bases will be attacked, in his first public […]
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Energy Secretary Wright says U.S. ‘not ready’ to escort tankers through Strait of Hormuz yet
The U.S. Navy is not ready to escort oil tankers through the Strait of Hormuz, Energy Secretary Chris Wright told CNBC in an interview Thursday. “It’ll happen relatively soon but it can’t happen now,” Wright said. “We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and […]
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‘Please, please, please’: Denmark urges citizens to avoid driving as oil prices spike
Gasoline prices at a Uno-X gas station in Copenhagen, Denmark, on March 9, 2026. Nurphoto | Nurphoto | Getty Images Denmark’s energy minister urged citizens of the Scandinavian country to cut back on energy use and ditch cars as the price of oil continues to skyrocket amid the Middle East conflict. Lars Aagaard, Denmark’s minister […]
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European stocks fall further as oil prices jump despite reserve release; Leonardo shares pop 8%
An oil pumpjack operates in the Inglewood Oil Field on March 10, 2026 near Los Angeles, California. Mario Tama | Getty Images LONDON — European stocks extended losses on Thursday as investors monitor the Iran war and volatile global oil prices. Shortly after the opening bell, the pan-European Stoxx 600 was down 0.5%, with most […]
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Three more ships struck in the Persian Gulf as Iran warns of oil prices hitting $200
Commercial vessels are pictured offshore in Dubai on March 11, 2026. AFP | Getty Images Three more foreign ships were struck in the Persian Gulf overnight, authorities said, as attacks intensify on vessels sailing through or near the strategically vital Strait of Hormuz. The latest incidents come after three separate vessels sustained damage in Gulf […]
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