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Asian stocks slide, oil gains as Middle East tensions escalate
Asian stocks slide, oil gains as Middle East tensions escalate The United States launched strikes against Iran after President Donald Trump said Tehran had shot down a US Apache helicopter in the Strait of Hormuz, leaving investors on edge. SINGAPORE: Asian stocks fell on Wednesday (Jun 10) while oil prices surged as escalating tensions in the Middle East unsettled markets, dimming hopes for an end to the months-long war that has pushed commodities higher and stoked inflation worries. The...
Oil exports through the Strait of Hormuz might not return to levels seen before the Iran war
The oil market might face a new reality after the Iran war in which exports through the Strait of Hormuz do not return to the levels once considered normal, as shipowners now have to weigh the risk that fighting could abruptly break out in the volatile Persian Gulf. And Western commercial ships will likely hesitate to sail through Hormuz if it remains under Iran's de facto control, especially if they have to coordinate with the Revolutionary Guard, putting them at risk of violating U.S....
Here's the inflation breakdown for May 2026 — in one chart
Consumer prices in May rose at their fastest pace in more than three years as the Iran war continued to put upward pressure on gasoline and other energy-related costs. The consumer price index, a key inflation gauge, increased to 4.2% last month relative to a year earlier — the highest annual inflation rate since April 2023 and an increase from 3.8% in April, the U.S. Bureau of Labor Statistics said Wednesday. "Inflation is painfully high," said Mark Zandi, chief economist at Moody's.
100 days into Iran war: How rising costs are hitting consumers and businesses in Southeast Asia
100 days into Iran war: How rising costs are hitting consumers and businesses in Southeast Asia As the war on Iran marks its 100th day on Monday (Jun 8), CNA looks at how the geopolitical crisis is filtering into everyday life across the region. SINGAPORE: More than three months into the war on Iran, the aftershocks from disrupted Middle Eastern energy and shipping routes are being felt far beyond the oil market, from road construction sites in Malaysia to food and beverage operators in...
US, Iran trade new attacks amid talks: Here’s what we know
US, Iran trade new attacks amid talks: Here’s what we know Washington and Tehran are attacking each other despite a ceasefire that came into effect on April 8. United States President Donald Trump says he is close to achieving a “very good deal” with Iran, but Washington and Tehran have been engaged in a new exchange of fire, dimming hopes of finalising a deal to end the war. Late on Sunday in a post on X, the US military’s Central Command (CENTCOM) said it struck Iranian military sites over...
TANVI RATNA: How the war in Iran realigned Europe's energy future around America
President Donald Trump is negotiating over the Strait of Hormuz this week. The Middle East will get the headlines. But one of the most consequential shifts in this war did not happen in Tehran or Tel Aviv.
Is the Great Nicobar Island India’s Hormuz-like chokepoint against China?
Is the Great Nicobar Island India’s Hormuz-like chokepoint against China? Far away from the mainland, the Indian government is pumping billions of dollars into a controversial development project that could spell the end of Great Nicobar Island. New Delhi, India — The southernmost point of India, the Great Nicobar Island, is closer to the coasts of Thailand, Malaysia and Indonesia than it is to the Indian mainland.
Fitch trims India's growth forecast to 6.4% as Middle East turmoil clouds outlook
This financial year, India’s economic numbers might lose some points to the ongoing Middle East chaos. The conflict has dented consumer spending, as households are feeling the pinch of rising costs. Global analytics firm Fitch Ratings on Tuesday cut its FY27 GDP forecast for the country to 6.4% from 6.7% projected earlier.
Türkiye, Singapore among countries rejecting ‘strategic resignation’ amid global disorder, says Turkish foreign minister
Türkiye, Singapore among countries rejecting ‘strategic resignation’ amid global disorder, says Turkish foreign minister Speaking at a special lecture in Singapore, Minister Hakan Fidan touched on Israel and the Middle East conflict, finding alternative connectivity routes to the Straits of Hormuz and Ankara’s foreign policy approach in Southeast Asia. SINGAPORE: Türkiye and Singapore are among “a handful of wise and responsible nations” which have rejected “strategic resignation” amid a...