Iran Says U.S. Struck Unfinished Nuclear Plant, Warns of Safety Risk
Iran has warned there is a nuclear safety risk after the United States struck a nuclear power plant that is under construction in the southwestern province of Khuzestan. U.S. forces…
Oil Reverses Gains on Renewed Hope of Peace in Iran
Crude oil prices reversed their climb this morning, retreating on reports that efforts are being made to negotiate another ceasefire between the United States and Iran. Brent crude was trading…
Goldman Warns Oil Could Hit $120 as Middle East War Drags On
Crude oil prices could surge to $120 per barrel towards the end of the year if the war in the Middle East extends and the Strait of Hormuz remains closed…
IMF Flags Higher Oil Price As Key Risk to India’s GDP Growth
India’s economic growth for the 2026/2027 fiscal year could be lower than previously expected amid higher oil prices with the re-escalation of the Middle East war and the El Nino…
Oil Prices Top $90 as Kuwaiti Tanker Hit in Strait of Hormuz
A Kuwait-owned oil products tanker was struck by a projectile in the Strait of Hormuz near Oman as tensions escalate around the key shipping lanes of the Middle East, sending…
Ryanair Profit Falls 36% as Unhedged Jet Fuel Costs Double
Ryanair shed more than a third of its profit as rising jet fuel prices triggered by the Iran war began to take effect. The budget airline had previously insulated itself…
UK Scraps 5% VAT on Electricity
In one of his first moves as the UK’s new Prime Minister, Andy Burnham announced on Tuesday that the new Labour government would scrap the 5% value added tax (VAT)…
India Keeps Buying Russian Oil at Near-Record Pace Despite Expired Waiver
India’s crude oil imports have remained close to record-high levels in July despite the end of the U.S. waiver the previous month. The U.S. quietly let the waiver allowing the…
Pakistan Shells Out Record Sums for Spot LNG as Qatar Supply Falters
Pakistan is paying top dollar for LNG supply as the renewed closure of the Strait of Hormuz and the stranding of cargoes from its term supplier Qatar have forced the…
ADNOC Approves $6.2 Billion Gas Project in Abu Dhabi
Abu Dhabi’s national oil company ADNOC on Tuesday announced a $6.2 billion final investment decision to develop the Umm Shaif Gas Cap project in Abu Dhabi as part of its…
