Officials in Tokyo and Berlin said they planned to release oil from their strategic reserves to address disruptions of supplies from the Middle East.
Category: War and Armed Conflicts
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Japan and Germany Say They Will Release Oil
The New York Times – Business: -
How Trump and His Advisers Miscalculated Iran’s Response to War
The New York Times – Business:In the lead-up to the U.S.-Israeli attack, President Trump downplayed the risks to the energy markets as a short-term concern that should not overshadow the mission to decapitate the Iranian regime.
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Rising Fuel Costs Pressure Airlines and Truckers
The New York Times – Business:The price of jet fuel and diesel has surged since the war in Iran began, which could force airlines and trucking companies to pass on higher costs to their customers.
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Oil Falls and Stocks Rise After a Day of Drastic Swings
The New York Times – Business:The price of oil had spiked to nearly $120 a barrel on Monday, drawing remarks by President Trump that he believed the war on Iran was “very complete.”
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G7 Countries Hold Off on Releasing Emergency Oil Supplies
The New York Times – Business:Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
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War-Induced Inflation Spike Looms Over Europe’s Economic Recovery
The New York Times – Business:For months, the region has been encouraged by low inflation and better-than-expected economic growth. A disruption to energy supplies from the Middle East could knock it off course.
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Oil and Natural Gas Prices Extend Rally as Iran Attacks Escalates
The New York Times – Business:Energy prices continued to rise on Tuesday as attacks by the United States and Israel on Iran intensified, along with the country’s response.
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Travelers Stuck in Dubai Face ‘Chaos and Confusion’ Amid Flight Cancellations
The New York Times – Business:The Emirates’ reputation as a safe destination in a volatile area was put to a brutal test in recent days as Iran, retaliating against U.S.-Israeli attacks, targeted the region with missiles and drones.
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Airline Stocks Tumble as Iran War Expands Across Middle East
The New York Times – Business:Higher fuel prices and lower demand for international flights are eating into airlines’ profits.
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Oil Shipments in Persian Gulf Already Disrupted by Iran Attack
The New York Times – Business:Tankers have begun to steer clear of the region and the Strait of Hormuz, threatening to push up energy prices.
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A Popular Afghan Singer Challenges the Taliban With Song
After living for decades in exile, chased by war and religious bans, Naghma persists in singing to her people.