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Amid 'Supply Shock'.. Oil and Gas Halt European Recovery
SadaNews -Europe faces a dual test with the widening war against Iran, a shock to energy that raises production and living costs, and shipping and insurance disruptions that double the "uncertainty tax" on trade and investment.
The International Monetary Fund confirmed today, Tuesday, that it is "c...
Oil Rises Despite Washington's Commitment to Protect Supply Flow from Hormuz
SadaNews - Oil extended its gains as new attacks erupted in the Middle East, while traders evaluated a U.S. plan to secure and escort oil tankers passing through the Strait of Hormuz, as shipping activity through this vital corridor had nearly come to a halt.
Brent crude rose towards $83 a barrel af...
UAE Resumes Trading on Abu Dhabi and Dubai Stock Exchanges After War Closure
SadaNews - The UAE has decided to resume trading on the "Abu Dhabi Securities Exchange" and the "Dubai Financial Market" on Wednesday, March 4, after a two-day closure due to the escalation of the US-Israeli war on Iran and the widening conflict in the Middle East.
The Securities and Commodities Au...
Gold Maintains a Foothold Above $5,100 Amidst the War
SadaNews - Gold rose, recouping some of the losses incurred in the previous session, as buyers entered the market at lower prices in a risk-filled environment, on the fifth day of the war in the Middle East.
The precious metal climbed by as much as 2%, regaining some gains after a four-day rally en...
Increase in Airfare to Asia and Europe After Gulf Airports Closure
SadaNews - Airfares between Asia and Europe have significantly increased following the closure of major airports in the Middle East due to the American-Israeli war on Iran.
Airline websites have shown that tickets on many airlines are fully booked for days.
Major airports in the Gulf, including Du...
Oil Prices Continue to Rise Amid Heightened Tensions Over the Strait of Hormuz
SadaNews - Oil prices continued to rise as the United States and Israel escalated their war against Iran, while the latter threatened a complete closure of the vital Strait of Hormuz.
Brent crude rose to around $79 a barrel, after jumping about 7% on Monday, while West Texas Intermediate was near $...
Gold Rises Amid Fears of Iran War's Impact on US Inflation
SadaNews - Gold has risen for the fifth consecutive day as the escalating war in the Middle East has disrupted global energy markets, driving investors toward safer assets.
The precious metal climbed by up to 0.8% to surpass $5,360 per ounce, after adding more than 3% during the previous four sessi...
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...
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....