Exxon Mobil and Chevron reported massive second-quarter profit surges driven by record fuel prices and supply constraints stemming from a six-month conflict halting shipping through the Strait of Hormuz.
Saudi Arabia, Pakistan, and Turkey sign the Mecca Joint Defence Agreement to strengthen collective deterrence against aggression, amid escalating regional conflict involving Iran and its allies.
US copper imports reached a 12-year high of over 200,000 tonnes last month, pushing combined Comex and LME inventories above 740,000 tonnes as analysts cite Trump's tariff threat pulling metal from China and global warehouses.
Donald Trump warned Iran that it would be hit hard if the Strait of Hormuz does not open soon, as oil prices fell to a three-week low following reports of progress in diplomatic talks involving the US, Iran, Oman, and Qatar.
Oil prices dropped to a three-week low on Tuesday, with Brent crude falling nearly 5% below $80 a barrel, after senior US officials reported progress in talks with Iran and Oman to reopen the Strait of Hormuz.
Russian oil exports from western ports are set to increase 4% in August as Ukrainian refinery attacks limit domestic processing and Asian demand rises amid Middle East supply disruptions, traders say. Baltic and Black Sea ports may load near 2.7 million barrels per day.
A second LNG tanker, GasLog Shanghai, was struck by a projectile off Oman in the Strait of Hormuz, extending QatarEnergy's force majeure deliveries and causing insurance premiums to climb. This follows a previous attack on July 7 and impacts Qatar's vital LNG exports.
Chinese motorcycle exports hit a record $11.28 billion in H1, with manufacturers like CFMoto targeting upmarket segments. Domestic tech gains in design and engine development are enabling them to compete with foreign brands like Honda and BMW, boosting shipments to the US and ASEAN.
South Korea's monthly exports surged by nearly 63% in July compared to the previous year, reaching $98.89 billion, driven by robust semiconductor shipments. Imports also rose, resulting in a trade surplus of $30.32 billion for the month.
A new multi-modal freight corridor via Uzbekistan and Turkmenistan reduces China-Afghanistan delivery times from 2-3 months to 30 days, though security and capacity concerns persist.
Company refutes market shutdown rumors, confirms record-breaking Phone (4b) sales, and announces restructuring with AI-native unit and regional hubs, impacting certain positions.
Indian refiners are seeking alternative crude oil suppliers like Venezuela and Angola and considering rerouting shipments around Africa to avoid the Red Sea. This comes as Houthi attacks disrupt vital shipping lanes, pushing Brent crude prices above $100 a barrel.
China's durian imports increased by 47% year-on-year in the first half of 2026, reaching 1.07 million tonnes, as Southeast Asian exporters, particularly Thailand, Malaysia, and Vietnam, offloaded a fruit glut that led to a price drop.
EU ambassadors will examine a new Russia sanctions proposal Thursday after Greece vetoed previous measures over its fuel shipping industry. Ireland's proposal aims to break the deadlock, with talks focusing on implementation timelines and exemptions to drain Moscow's war chest.
Ousted Venezuelan President Nicolas Maduro and his wife, Cilia Flores, will stand trial in the US on June 1, 2027, for drug trafficking charges. Captured by US forces in Caracas, they pleaded not guilty. The defense plans to challenge the indictment based on sovereign immunity and the legality of their capture.
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.
North Korea's Foreign Minister Choe Son-hui met Russian President Vladimir Putin in Moscow to discuss ammunition and missile shipments for the Ukraine war, and prepare for a possible Kim Jong-un visit. Putin thanked North Korea for its support and for sending Korean People's Army soldiers to the Kursk region.
President Trump declared a June 17 ceasefire with Iran "over," ordering new US strikes after alleged Iranian attacks on tankers in the Strait of Hormuz. This raises fears of renewed conflict, impacting oil markets, US midterm politics, and Iran's nuclear program.
President Trump declared a June 17 ceasefire with Iran "over," ordering new US strikes after alleged Iranian attacks on tankers in the Strait of Hormuz. This breakdown raises fears of renewed conflict, impacting oil markets, US politics, and Iran's nuclear program.
Russia is enhancing security at its oil refineries and working to maintain fuel production following drone attacks that have idled some facilities, Deputy Prime Minister Alexander Novak stated. The country aims to ensure sufficient fuel volumes and additional shipments to regions experiencing shortages due to panic buying.
Australian PM Anthony Albanese and Indian PM Narendra Modi announced a major uranium deal, aiming to end decades of delays for nuclear fuel exports to India for peaceful purposes. The agreement was made during Modi's three-day visit to Australia, where he is also set to address a large rally.
Australian PM Anthony Albanese is set to sign a significant uranium deal with India, strengthening economic ties. The agreement, delayed for over a decade, follows a 2014 nuclear cooperation pact. PM Narendra Modi is visiting Australia, addressing a large Indian diaspora rally in Melbourne.
Worldwide PC shipments dropped nearly 5% to 68.2 million units, the first decline in two years, due to an AI-driven memory shortage expected to last until 2028. Despite falling unit sales, revenues are rising for manufacturers as prices increase.
BYD has overtaken Tesla to become the world's largest battery-powered car manufacturer, driven by increased overseas shipments despite a recent drop in deliveries. The report also highlights China's growing adoption of electric heavy trucks.
