@NG26J
Iran war is a ‘catastrophe,’ G7 ministers warn — but there’s little they can do to stop it
U.S. President Donald Trump arrives at the G7 summit in Kananaskis, Alberta, Canada, June 16, 2025. Kevin Lamarque | Reuters The U.S. and Israeli war on Iran is having a catastrophic impact on the global economy, European members of the G7 have warned ahead of a key summit on Thursday. Foreign ministers from the group […]
Read More
The oil market is in ‘backwardation’ — Here’s what that means for energy prices
An Iranian security worker monitors an area in phase 19 of the South Pars gas field in Assalooyeh, on Iran’s Persian Gulf coast, on Aug. 23, 2016. Morteza Nikoubazl | Nurphoto | Getty Images Oil prices have been gripped by volatility since the U.S.-Iran war began nearly four weeks ago. But analysts say the market […]
Read More
Trump wants to squeeze Iran into peace talks with more troops — but it may backfire, analysts say
WASHINGTON DC, UNITED STATES – MARCH 20: United States President Donald Trump (R) speaks to the press before his departs the White House en route Miami, Florida on March 20, 2026, in Washington DC. Celal Gunes | Anadolu | Getty Images Nearly a month into the Iran war, the United States is preparing to send […]
Read More
Recession odds climb on Wall Street as economy shows cracks beneath the surface
Federal Reserve Chair Jerome Powell last week pushed back when asked whether stagflation posed a threat to the U.S. economy. His successor may face a tougher challenge, as Wall Street forecasters raise their expectations of recession, brought on in part by the Iran war and potential for higher prices. In recent days, economists have pulled […]
Read More
It’s not just oil and gas. The Strait of Hormuz blockage is rattling another vital commodity
Workers unload urea fertilizer from a cargo ship in Yantai Port, Shandong Province, China on March 13, 2026. Cfoto | Future Publishing | Getty Images Farmers in the northern hemisphere are heading into the crucial spring months, during which major fieldwork must begin. Their peers in the south, meanwhile, are busy harvesting crops before the […]
Read More
Don’t be fooled by the UK’s pre-war inflation print — a ‘brutal’ surge could be coming
People dispense fuel at the pump at Costco Petrol Station in West Thurrock, Essex. The conflict in Iran has caused a surge in oil and gas prices. Picture date: Thursday March 5, 2026. Jordan Pettitt – Pa Images | Pa Images | Getty Images The U.K. inflation rate stood firm at 3% in February, according […]
Read More
Europe and India are too sensitive to oil prices, says UBS — buy these defensive markets instead
Monday’s relief rally in response to a delay to U.S. strikes on Iranian energy infrastructure offers an opportunity for investors to rotate into defensive assets, according to UBS analysts. UBS says it remains “positive” on equities overall but the bank has now issued a downgrade on European and Indian equities, both of which it now […]
Read More
Venezuela opposition leader María Corina Machado calls for full privatization of oil industry
HOUSTON — Venezuela opposition leader María Corina Machado called Tuesday for the full privatization of the South American nation’s oil industry in an address that laid out her vision to energy executives and investors. “The Venezuelan state will get out of the way and pave the way to give the conditions so that the oil […]
Read More
World has ‘never experienced’ soaring refining margins like this, TotalEnergies CEO tells CNBC
Roughly 15% of TotalEnergies’ production is offline, as the war with Iran nears the one-month mark, but surging oil prices have more than made up for the lost barrels, chairman and CEO Patrick Pouyanné told CNBC in an exclusive interview. With Brent crude trading solidly above $100 a barrel, much of the attention has focused […]
Read More
Iran attacks in Strait of Hormuz are ‘economic terrorism against every nation,’ UAE oil CEO says
Sultan Ahmed Al Jaber, chief executive officer of Abu Dhabi National Oil Co. (ADNOC), during India Energy Week in Goa, India, on Tuesday, Jan. 27, 2026. Dhiraj Singh | Bloomberg | Getty Images HOUSTON — The United Arab Emirates on Monday condemned Iran’s attacks against shipping in the Strait of Hormuz as a form of […]
Read More