G7 Releases Emergency Oil Reserves as Middle East War Escalates
In response to escalating tensions in the Middle East, G7 countries have agreed to release emergency oil reserves to stabilise global markets and curb price surges.
In response to escalating tensions in the Middle East, G7 countries have agreed to release emergency oil reserves to stabilise global markets and curb price surges.
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Soaring oil prices above $115 a barrel, driven by US-Israeli war with Iran, trigger severe fuel shortages and violence in Pakistan and Bangladesh, with global economies bracing for further disruptions.
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RecommendedA significant fire at a vape shop near Glasgow Central station has led to the closure of Scotland's busiest railway hub, with widespread cancellations and delays expected throughout Monday.
A major fire at a building adjacent to Glasgow Central station has forced its closure, causing widespread train cancellations and delays with no reopening estimate.
Glasgow Central Station remains closed after a major fire at a vape shop on Union Street caused an explosion and building collapse, disrupting travel with no casualties reported.
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Oil prices have surged above $100 per barrel for the first time in four years due to a standstill in the Strait of Hormuz, threatening petrol pump price hikes and supply uncertainty.
Oil prices have surged past $115 a barrel as the Iran conflict disrupts the Strait of Hormuz, causing fuel rationing, violence at petrol pumps in Pakistan and Bangladesh, and global economic warnings.
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Asian markets plummet as the Middle East conflict drives oil prices above $115 a barrel, raising stagflation risks and threatening global economic growth with inflation and interest rate hikes.
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A significant fire near Glasgow Central station has forced its closure, halting all high-level train services and causing widespread cancellations and delays across Scotland's rail network.
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The British Chambers of Commerce warns that removing the de minimis exemption for low-value imports could lead to higher consumer prices and increased administrative burdens for businesses.
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Emirates announces rapid network recovery following Iranian drone strikes at Dubai International, with UK routes prioritised and first available flights detailed.
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Mojtaba Khamenei, son of Iran's late supreme leader, appointed as new ruler amid Middle East conflict, driving oil prices above $114 a barrel.
Global oil prices skyrocketed following Iran's appointment of a new supreme leader and renewed military strikes against Israel and Gulf nations, sparking economic fears worldwide.
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RecommendedA significant fire near Glasgow Central station has forced the closure of Scotland's busiest railway hub, with widespread cancellations and delays expected throughout Monday.