Trump Demands European Aid in Hormuz Crisis as Oil Prices Soar
Donald Trump pressures European allies to protect the Strait of Hormuz, warning of NATO consequences, as Iran's blockade disrupts global energy flows and spikes oil prices.
Category : Trade
China Warns Trump Tariffs Could Harm US Trade Ties
China's trade representative expressed serious concern that Trump's latest tariff investigations could destabilise hard-won economic relations between the two superpowers.
Iran's Hormuz Blockade Sparks Global Oil Crisis and Military Tensions
Iran has retaliated against US-Israeli strikes by effectively closing the Strait of Hormuz, a vital waterway for 20% of global oil and gas. The blockade has caused historic supply shocks, soaring prices, and a complex international military dilemma.
Trump Demands NATO Help Reopen Iran-Blocked Strait of Hormuz
President Trump pressures NATO allies to assist in reopening the Strait of Hormuz, a critical global oil chokepoint, as Iran's blockade causes oil prices to surge above $100 per barrel and disrupts maritime trade.
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Iran Attacks Gulf, Strangles Oil Shipping as Energy Crisis Looms
Iran intensifies attacks on Gulf neighbours and blocks Strait of Hormuz shipping, sparking global energy crisis concerns as oil prices surge and Trump demands allied naval support.
Oil Near $105 as Iran Attacks Gulf, Shares Mixed
Brent crude trades near $105 per barrel as Iran escalates attacks in the Gulf, disrupting oil flows. Global stock markets show mixed results amid inflationary pressures.
USMCA Renewal Talks Start as Trump Threatens Withdrawal
High-stakes negotiations to renew the US-Mexico-Canada trade agreement commence, with over $4 billion in daily cross-border goods at risk. President Trump's demands and potential withdrawal loom over the $1.6 trillion annual trade bloc.
Australia Faces 'Covid 2.0' Price Hikes from Middle East Conflict
Australian manufacturers warn of sharp price rises and possible rationing as the Strait of Hormuz closure strains supply chains, with plastics costs spiking up to 50%.
Iran May Allow Chinese Tankers Through Strait of Hormuz
Iran is considering allowing Chinese-linked oil tankers safe passage through the Strait of Hormuz, potentially in exchange for yuan transactions, amid global tensions over the strategic waterway's closure.
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Gulf States Suffer Economically from US-Israel War on Iran
The closure of the Strait of Hormuz due to conflict has crippled Gulf economies, sparking anger over a war they tried to prevent. Daily oil losses exceed $700 million.
Airfare Hikes as Asia Stopovers Surge Amid Middle East Conflict
Cathay Pacific, AirAsia, and Thai Airways join Qantas and Air New Zealand in raising airfares as travellers shift to Asian stopovers. The Middle East conflict disrupts oil markets, impacting EV sales, mortgages, deliveries, plastic recycling, and helium s
US-China Trade Talks Open in Paris, Set Stage for Summit
Economic delegations from Washington and Beijing have initiated crucial trade discussions in Paris, setting the groundwork for an upcoming state visit by President Trump to meet Chinese leader Xi Jinping.
Rich Britons Fleeing Gulf Avoid UK Return Over Tax Hit
Wealthy British nationals escaping Gulf conflict are avoiding returning to UK to prevent massive tax bills, with advisers warning HMRC won't be sympathetic to their circumstances.
Trump Oil Move May Give Russia Billions for Ukraine War
Russia could earn up to $11bn extra from oil and gas this month as Trump's waiver on Russian crude purchases sends prices soaring, potentially reversing sanctions losses.
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Kharg Island: Trump's Secret Weapon Against Iran's Oil Economy
The tiny Kharg Island, handling 94% of Iran's oil exports, emerges as a critical target in US strategy, with potential to devastate Iran's economy for years amid escalating conflict.
Poll: 70% of Americans Say Trump Tariffs Increased Costs
A new Harris Poll reveals that 70% of Americans believe President Trump's tariffs have led to higher prices, with partisan divides and economic studies confirming consumer impacts ahead of mid-term elections.
Trump Launches Forced Labor Probes to Reinstate Tariffs
The Trump administration initiates Section 301 investigations into forced labor practices across 60 trading partners, seeking a legal pathway to restore tariffs after a Supreme Court ruling struck down previous policies.
US Eases Russian Oil Sanctions as Crude Prices Remain High
The United States has granted a 30-day reprieve on sanctions for Russian oil shipments, aiming to stabilise global energy markets disrupted by the Iran war, though crude prices continue to trade at elevated levels.
Iran Closes Strait of Hormuz, Sparking Global Crisis Fears
Iran has shut the Strait of Hormuz, a vital oil chokepoint, after U.S.-Israeli strikes. The closure cuts 20% of global oil and LNG, risking energy and fertilizer shocks, with security challenges complicating international response efforts.
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Trump's Oil Move May Give Russia Billions for Ukraine War
Russia could earn up to $11bn extra from oil and gas this month due to Trump's waiver on Russian crude, reversing earlier losses and fueling the Ukraine conflict, analysts say.
Indian Tanker Leaves Hormuz Amid Middle East Tensions
An Indian-flagged oil tanker has sailed away from the Strait of Hormuz area as Iran's new supreme leader vows to keep the waterway shut, with dozens of vessels and hundreds of sailors still stranded.
UK Rejects US Move to Ease Russian Oil Sanctions
Energy Minister Michael Shanks insists the UK will not follow the US in temporarily lifting sanctions on Russian oil, warning against aiding Putin's war machine in Ukraine.
US Lifts Russian Oil Sanctions as Iran War Hits Prices
The Trump administration grants a 30-day waiver for Russian oil stranded at sea to curb soaring fuel costs, as US-Israeli strikes in Tehran disrupt global supplies via the Strait of Hormuz.
China Halts Jet Fuel Exports to Australia, Threatening Air Travel
China has ordered refineries to stop aviation fuel exports, a move that could pressure Australian airfares and fuel security, as the nation relies heavily on these imports.
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Oil Prices Soar Above $100 Amid US-Iran Strikes and Regional Conflict
Intense US and Israeli strikes on Iran, coupled with Iranian attacks on Gulf infrastructure, have driven oil prices above $100 a barrel. The conflict has displaced millions and caused casualties across the region.
Panama Canal Traffic Boost from Iran War and Fuel Costs
Panama Canal Administrator Ricaurte Vásquez states that the Middle East conflict and rising fuel prices could increase canal traffic as shippers seek more efficient routes.
Starmer: £937M Irish Investment Creates 850 UK Jobs, Boosts Ties
Prime Minister Keir Starmer announces £937 million in new Irish investment at UK-Ireland Summit, expected to create 850 jobs across London, Doncaster, South Wales and Scotland.
Private Jet Firm Leads Middle East Evacuations for Brits Fleeing War
Air Charter Service has organised over 70 evacuation flights from the Middle East since the US-Iran conflict began, helping thousands of Brits escape the escalating violence.
Trump Tariffs Cut UK Exports to US, Car Shipments Drop 28%
UK goods exports to the US fell 10.3% to £59.2bn last year due to Trump tariffs, marking the first post-pandemic decline. Car exports dropped 28.1%, with footwear and clothing also hit hard.
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Iran Steps Up Attacks on Middle East Oil Infrastructure
A new video report reveals Iran has intensified its assaults on oil infrastructure across the Middle East, raising regional tensions and threatening global energy supplies.
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