India, the world's third-largest crude consumer, is advancing alternative fuels like ethanol from corn and biogas from animal waste to bolster energy security against rising global oil prices and potential Russian supply curbs. The country mandated 20% ethanol blending in petrol, but faces public backlash over vehicle damage concerns.
Norway's state oil company Equinor reported nearly doubled profits of $11.5bn in Q2, exceeding predictions, driven by increased oil and gas production and soaring prices due to the war against Iran and a blockade in the Strait of Hormuz.
Oil prices rose 4% after the 11th consecutive night of US strikes against Iran, with Secretary of State Marco Rubio citing the Strait of Hormuz as a key point of contention. Global benchmarks Brent and WTI crude futures saw significant gains, while market focus also returned to inflation and potential Federal Reserve rate hikes.
Houthi rebels threaten a blockade of the Bab el-Mandeb Strait, a vital oil shipping route, in retaliation for alleged Saudi restrictions on Yemen. This could disrupt 7.4 million barrels per day of oil flow, potentially pushing global oil prices above US$100 and deepening uncertainty for Asian consumers.
The escalating Middle East crisis has driven Brent crude prices up 23% to near $US90/barrel, doubling market forecasts for an Australian Reserve Bank interest rate hike. Australian motorists face rising fuel costs as experts warn of a critical juncture for global energy markets.
Beijing has eased refined fuel export restrictions due to high global oil prices and ample reserves, but introduced compliance requirements for refiners to maintain inventory levels, a cautious move influenced by the collapse of the interim US-Iran truce.
Oil prices remained near a one-month high despite truce efforts between the US and Iran, as escalating conflict and new Houthi threats to Red Sea shipping routes fueled supply fears, with Brent crude at $88.87 and WTI at $82.47.
Analysts warn of renewed inflation fears driven by escalating US-Iran tensions in the Middle East, which keep oil prices high. BlackRock estimates a 0.8 percentage point increase to global inflation, particularly affecting energy-reliant regions like Europe and Asia. This environment reinforces the Federal Reserve's hawkish stance, prompting calls for diversified portfolios.
Bitcoin maintains key support levels, with some traders predicting short-term gains up to $67,000, despite retreating spot demand. Geopolitical tensions, particularly escalating US-Iran rhetoric, are driving oil prices higher, while major corporate earnings reports from Tesla, Alphabet, and Intel are set to influence risk assets.
Renewed US attacks on Iran have closed the Strait of Hormuz, threatening global oil supplies and driving prices above $100, risking inflation and recession. China, the world's largest oil buyer, is unlikely to use its strategic reserves to cushion prices, a move that could prolong the conflict.
President Trump vowed harsh retaliation after three US service members were killed in recent fighting with Iran, following US military strikes on Iranian sites to clear the Strait of Hormuz. Iran-backed Houthi militants declared an embargo on Saudi Arabia, while oil prices fluctuated amid escalating conflict and disrupted shipping in the vital waterway.
Edible oil prices are projected to stay high for several months due to geopolitical tensions, El Nino threats, and Indonesia's biodiesel push tightening global supplies. India's festive season demand will also strengthen prices, while domestic cultivation expands to reduce import dependence.
Oil prices surged after President Trump vowed retaliation for US soldier deaths, and Houthi militants declared a maritime embargo on Saudi Arabia, escalating US-Iran tensions and raising concerns about global supply disruptions.
Bitcoin's stabilization near $64,000, aided by ETF inflows, is threatened by rising oil prices due to US-Iran conflict disrupting the Strait of Hormuz, potentially reigniting inflation concerns. Concurrently, a $2.3 billion stablecoin reserve contraction on major exchanges and concentrated leveraged longs near $57,000 leave the market vulnerable to a sharper decline.
Spain secured its first World Cup since 2010 by defeating Argentina 1-0 in extra time. Meanwhile, US strikes on Iranian targets continued for a ninth night, leading to three US military personnel deaths and pushing international oil prices above $90 per barrel. The UK also saw Andy Burnham replace Keir Starmer as Prime Minister, and TSMC announced accelerated expansion of its Arizona factory.
Average petrol prices in the United States have risen to $4 per gallon, driven by escalating tensions between the US and Iran in the Middle East. This increase reverses a period of easing costs and could have wider economic implications, impacting groceries and upcoming US midterm elections.
U.S. forces conducted airstrikes in Iran following the deaths of three service members, including two in Jordan and one in Iraq, amidst ongoing conflict. Iran retaliated with strikes targeting infrastructure in Kuwait, Bahrain, and Jordan, while oil prices rose above $90 per barrel.
Ryanair's pre-tax profits fell 34% to €593m between April and June, attributed to soaring jet fuel prices due to the Middle East war and consumer hesitancy leading to lower fares. The airline expects summer fares to be modestly lower than last year.
Oil prices showed mixed movements Monday, paring gains after Iran indicated potential negotiations with the U.S. amid ongoing American strikes and casualties. Renewed hostilities raise concerns over the Strait of Hormuz's oil transit security.
Bitcoin fell below $63,000 on Monday, influenced by rising oil prices and declining equity futures following U.S. strikes on Iran. Factors like thin weekend trading and fund flows also contributed to the drop, with Bitcoin nearing $60,000.
Oil prices soared and Asian stocks plummeted after the US launched new strikes against Iran, escalating tensions over the Strait of Hormuz. Brent crude rose 4.7%, while markets like South Korea's Kospi dropped 8%. Chip companies were severely hit.
Chip stocks, led by South Korea's SK Hynix, experienced steep losses triggering circuit breakers. Oil prices rose amid US-Iran exchanges of strikes over the weekend. Reporting season begins with major companies like JPMorgan and Netflix.
South Korea's Kospi index dropped 8% to a trading halt on Monday due to escalating Gulf conflict and rising oil prices. Major AI-heavyweights SK Hynix and Samsung Electronics led the selloff, pushing the index into bear market territory, despite remaining the world's best-performing major stock market in 2026.
The Indian Rupee depreciated 39 paise against the US dollar, opening at 95.72 and falling to 95.77 due to soaring crude oil prices and escalating Middle East tensions. Concerns over global crude supply disruptions, fueled by Iran's actions in the Strait of Hormuz, dampened market sentiment.
