While oil and gas are once again flowing through the Strait of Hormuz, the closure of the vital waterway for over 100 days could prove to be a turning point in global energy markets. The Arab oil embargo of 1973, a similarly disruptive supply shock, offers clues about where we might be headed.
Category: News
Human-caused climate change made this week’s soaring night-time temperatures 100 times more likely than they would have been just two decades ago, they said.
Germany’s proposed pension reforms will ease pressure on younger workers struggling to accumulate wealth in the face of a weak economy and high housing costs, but analysts say the path to financial stability remains steeper than that of their parents.
President Donald Trump’s administration has pushed hard to present a united front on the Iran war, but statements by his vice president and secretary of state have at times diverged over the past week, especially on the subject of Israel.
Australia’s prime minister said on Friday he was keen to make sure the country’s social media ban for children was as strong as possible, as a new study found that the measure — the first of its kind and now six months old — had little impact on teen use.
Samsung Group will unveil a sweeping decade-long investment plan on Monday, pledging 1,000 trillion won ($648 billion) to anchor South Korea’s next growth cycle, including a possible 300 trillion won push to build chip factories in the country’s southwest, a media report said.
Oil prices fell on Friday morning and are heading for steep weekly losses amid easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.
The U.S. economy grew faster than previously estimated in the first quarter, but consumer spending almost stalled.
SpaceX plans to begin next month building an eight‑mile (13-km) natural gas pipeline called “Starpipe” to its Texas launch facilities, according to county filings, as Elon Musk’s company seeks to ramp up launches of its next‑generation Starship rocket.
It was a day of modest reversals across currencies and commodities on Thursday, to varying degrees, as the dollar rally and oil slump paused for breath. Meanwhile, stocks in Europe and Asia rose, but megacap tech weakness weighed on Wall Street.