Iran Conflict
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Iran conflict: Why has oil stayed near $100 a barrel?
Iran conflict: Why has oil stayed near $100 a barrel? The worst-case oil scenario has been avoided, but inflation and slower growth continue to weigh on the global economy. More than 100 days into the Iran conflict, 20 percent of the world’s energy flows remain disrupted, with the scenario described as the biggest supply shock in history.
CNA Explains: How airlines avoided a jet fuel shortage amid the Iran conflict
CNA Explains: How airlines avoided a jet fuel shortage amid the Iran conflict Despite warnings of a looming jet fuel supply crunch amid the Iran war, major airlines are now saying that they have enough fuel for the next few months. The conflict in Iran has sent jet fuel prices soaring, as the prolonged closure of the Strait of Hormuz choked exports from Gulf refineries that supply a significant share of the world’s jet fuel. The war, which began with United States-Israeli strikes on Iran on...
China, tungsten and a supply shock in metal critical for war that will last far beyond Iran conflict
The Iran war has caused well-documented price spikes and shortages on a range of items Americans depend upon. Oil and gas, of course, but also petrochemicals and everything derived from them (e.g. plastics) and helium are among raw materials that have been besieged by the closure of the Strait of Hormuz. Still, there is another element which has seen its price surge amid increasingly short supply because of war, but where the shock will not relent even if the Strait is reopened.
Asia’s stock markets dive amid Iran-Israel conflict, Wall Street jitters
Asia’s stock markets dive amid Iran-Israel conflict, Wall Street jitters South Korea’s main index plunges nearly 9 percent, while stocks in Japan, Taiwan and Hong Kong also see sharp falls. Asia’s major stock markets have dropped sharply amid the resumption of conflict between Israel and Iran and growing expectations of interest rate hikes in the United States. South Korea’s stock market suffered the steepest losses amid a region-wide sell-off on Monday, as investors followed Wall Street’s...
Higher airfares and fewer visitors: How the Iran conflict is hitting Southeast Asia tourism
Tourism across Southeast Asia was finally recovering from the pandemic. Now, soaring fuel prices, flight disruptions, and growing economic uncertainty linked to the Iran conflict are threatening to slow demand just as the region enters its crucial summer travel season. Cheap flights, backpacker hostels and beautiful beaches have helped make Southeast Asia one of the world’s most resilient travel regions.
Trump suffers rare House defeat as bipartisan vote moves to withdraw troops from Iran conflict
President Donald Trump suffered a rare defeat in the House of Representatives on Wednesday after Democrats joined by a handful of Republicans voted to sharply curb his war powers in Iran. Lawmakers voted 215-208 to withdraw troops from using military force against Iran absent congressional authorization. All Democrats present voted for the measure to effectively halt the U.S. military campaign against Iran.
Trump suffers rare House defeat as bipartisan vote moves to withdraw troops from Iran conflict
President Donald Trump suffered a rare defeat in the House of Representatives on Wednesday after Democrats joined by a handful of Republicans voted to sharply curb his war powers in Iran. Lawmakers voted 215-208 to withdraw troops from using military force against Iran absent congressional authorization. All Democrats present voted for the measure to effectively halt the U.S. military campaign against Iran.
OECD predicts spate of recessions globally if Iran conflict drags into 2027
Policy forum lays out ‘prolonged disruption’ scenario in which world’s GDP falls to 2.1% this year from 3.4% in 2025Rural UK ‘particularly at risk’ of diesel shortagesIf the Middle East conflict drags on into next year it would hit global growth hard, driving some economies into recession and causing energy shortages, according to forecasts from the Organisation for Economic Co-operation and Development. In its latest Economic Outlook, the Paris-based club of industrialised countries lays...
OECD predicts spate of recessions globally if Iran conflict drags into 2027
Policy forum lays out ‘prolonged disruption’ scenario in which world’s GDP falls to 2.1% this year from 3.4% in 2025Rural UK ‘particularly at risk’ of diesel shortagesIf the Middle East conflict drags on into next year it would hit global growth hard, driving some economies into recession and causing energy shortages, according to forecasts from the Organisation for Economic Co-operation and Development. In its latest Economic Outlook, the Paris-based club of industrialised countries lays...