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Gas Prices in Europe Surge 50% After Qatar Halts Production
SadaNews - The price of European natural gas rose by 50% during trading on Monday following Qatar's suspension of liquefied natural gas production.
QatarEnergy announced today the suspension of liquefied natural gas production and related products due to military attacks targeting facilities in Ras...
Iran's War Dashes Egypt's Hopes for Suez Canal Recovery
SadaNews - Shipping companies have returned to avoiding transit through the Suez Canal amid the involvement of the United States and Israel in a war with Iran, which has dashed hopes for the imminent recovery of the vital shipping route for global trade, a cornerstone of the Egyptian economy.
"A.P....
Warning of Rising Gasoline Prices in America Due to War on Iran
SadaNews - Analysts expect that the average retail gasoline price in the United States will exceed $3 per gallon today, Monday, for the first time in more than 3 months, as the war on Iran, a major crude oil producer, disrupts global oil flows.
This poses a significant risk to President Donald Trum...
The Shekel Defies Expectations: Where Did the Israeli Currency Draw Its Strength From?
Special SadaNews - Contrary to expectations, the shekel has risen against the dollar despite Israel and the United States entering a war with Iran. Many analysts expected the shekel to decline against the dollar in the first sessions of the week, but the opposite happened; the dollar fell to an exch...
Qatar Reduces Number of Workers at Largest LNG Export Facility in the World
SadaNews - Qatar has temporarily reduced the number of workers at the largest liquefied natural gas (LNG) export facility in the world, driven by safety concerns, as the repercussions of the US-Israeli attack on Iran extend to the region.
According to informed sources who requested anony...
Major Marine Insurance Companies Announce Cancellation of War Risk Coverage in Waters of I...
SadaNews - Major marine insurance companies have announced the cancellation of war risk coverage for ships passing through the waters of Iran and the Arabian Gulf starting March 5, in a move that reflects the escalation of military tensions in the region and the increasing risks to maritime traffic....
DP World Resumes Operations at Jebel Ali Port in the UAE
SadaNews - DP World announced the resumption of operations at Jebel Ali Port in the UAE, following a temporary suspension of operations as a precautionary measure, according to Reuters.
The company had previously halted operations at all port terminals following a fire that broke out at one of the...
Oil Prices Soar on First Trading Day Since War Began
SadaNews - Oil has seen its biggest jump in four years, with traders assessing the implications of the actual closure of the Strait of Hormuz due to the war waged by the United States and Israel against Iran.
The price of Brent crude, which is a global benchmark for oil prices, rose by more than 6%...
Currency Exchange Rates Against the Shekel Today, Monday (March 2)
SadaNews - The currency exchange rates against the shekel today, Monday (March 2), are as follows:
Israel Raises Defense Budget by $2.9 Billion to Fund War with Iran
SadaNews - The government in Israel announced that it has pre-approved an addition of 9 billion shekels ($2.9 billion) to this year's defense budget to fund the war with Iran.
Finance Minister Bezalel Smotrich stated that he and Prime Minister Benjamin Netanyahu granted approval over the past few w...
Gold and Silver Prices Rise as Investors Seek Safe Havens
SadaNews - Gold prices have risen after the war in the Middle East disrupted markets, pushing investors toward safer assets.
The precious metal rose by more than 2% to around $5,390 an ounce in early trading, after having surged more than 3% the previous week with the mobilization of U.S. forces in...
Egypt announces measures to secure supplies after Israeli gas halt
SadaNews - The Ministry of Petroleum and Mineral Resources confirmed that it has implemented a package of proactive steps to secure energy supplies for the local market from natural gas and petroleum products, as part of a government coordination aimed at ensuring the fulfillment of needs and enhanc...