Global oil prices surge above one hundred dollars amid Iran conflict

US stocks surge on hopes Iran war will end soon

US stocks jumped and oil prices dropped after Iran signalled it was willing to end the conflict with the United States and Israel.

Oil nears highest price since start of Iran war

The US-Israel Iran war has halted almost all traffic in a key waterway and the price Brent crude has surged.

Crude prices whipsaw on mixed signals from Iran war

Oil prices searched for direction on Tuesday amid conflicting events related to the Iran war. While US President Donald Trump's threats that the US would obliterate Iranian energy infrastructure if the Strait of Hormuz remained closed led to an increase in prices, a later report saying Trump is seeking an end to the war brought them down. Also in this edition: inflation in France ticks up because of higher energy prices and Australia threatens legal action against social media giants.

Oil price steadies for now but cost of petrol soars around the world

The price of a barrel of oil has steadied with signs the US is open to ending the war against Iran, even if the Strait of Hormuz remains closed. But at the petrol pump, consumers are still paying the price for the global supply chain disruption.

Oil rises on Trump's Iran threats, stocks mixed

Oil prices jumped after the US president threatened to blow up Kharg Island and Iran’s oil infrastructure, while US stocks fell.

‘All roads lead to higher prices and slower growth’: IMF says Iran war is dimming outlook for many economies

The war in the Middle East has caused serious disruption to the economies of frontline countries, and is dimming the outlook for many economies that had just started to recover from previous crises, the International Monetary Fund (IMF) warned on Monday. In a blog published by the global lender’s top economists, the IMF said the war started by US and Israeli strikes against Iran on February 28 was causing a global, but asymmetric shock and leading to tighter financial conditions. Iran’s closure of the Strait of Hormuz and damage to regional infrastructure had caused the largest disruption to the global oil market in history, according to the International Energy Agency. Much would depend on how long the war lasts, how far it spreads and how much damage it inflicts on infrastructure and supply chains. The IMF said low-income countries were at particular risk of food insecurity due to higher food and fertiliser prices and may need more external support, even as many advanced economies were scaling back their international assistance. “Although the war could shape the global economy in different ways, all roads lead to higher prices and slower growth,” the economists wrote. The IMF said it will release a fuller assessment in its ‘World Economic Outlook’, to be published on April 14, during the IMF and World Bank spring meetings in Washington. If elevated energy and food prices persist, they will fuel inflation worldwide, the authors wrote, noting that sustained oil-price spikes have historically tended to push inflation higher and growth lower. The war could also fuel expectations that inflation will remain higher for longer, which could translate into higher wages and prices, making it harder to contain the shock without a sharper slowdown, they said.

Oil rises, stocks fall as Iran war enters fifth week and further escalation looms

Oil surged over $115 a barrel this Monday as the war in Iran entered its fifth week. Houthi strikes on Israel have raised concerns that shipping through the Bab al-Mandeb strait could be disrupted, adding to the supply pressure already created by the effective closure of the Strait of Hormuz. Also in this edition, we see how the conflict in the Middle East is affecting a wide range of businesses, including used car dealers in Japan and South Korea.

Oil rises above $115 and Asia shares slide as Iran war enters fifth week

It comes after Iran-backed Houthi rebels in Yemen joined the conflict by striking Israel over the weekend.

Oil tops $116 a barrel as Iran accuses US of preparing invasion

Crude prices continue to climb as world faces its biggest energy crisis in decades.

Oil prices jump after Yemeni Houthis attack Israel, widening Iran conflict