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Oil Surges Amid Growing Fears Over Global Supplies
SadaNews - Oil prices rose as Iran-backed Houthis in Yemen entered the war in the Middle East and with additional U.S. forces arriving in the region, heightening fears of escalation and threatening further disruption in energy markets.
Brent crude, heading for record monthly gains, rose by as much...
Gold Stabilizes as Iran's War Enters Its Fifth Week
SadaNews - Gold stabilized after achieving its first weekly gain since the outbreak of the conflict in the Middle East, as buying on dips supported prices, while the market awaits clarity regarding the duration of the ongoing dispute.
The precious metal recovered from some of its early losses to se...
Closure of the Strait of Hormuz Causes Sharp Rise in Ship Insurance Costs.. Stranded Sailo...
SadaNews - The ongoing war against Iran has led to a significant increase in ship insurance costs in the region, particularly for vessels crossing the Strait of Hormuz, which provided a passage for one-fifth of the world's oil and LNG supplies before the war. There has been a 95% drop in maritime tr...
Financial Times: Iran War Raises Eurozone Borrowing Costs to Highest Level in Years
SadaNews - The Financial Times reported that borrowing costs in the Eurozone have risen to their highest levels in years, amid increasing concerns from investors about the impact of the Iran war on the public finances of European countries.
The newspaper stated that the cost of 10-year Italian bond...
Gold prices reach nearly $4,492 per ounce.. and silver near $69
SadaNews - On Sunday, March 29, gold prices recorded around $4,492 per ounce, amid a state of anticipation in global markets. This comes as investors are closely monitoring developments in economic conditions and changes in international financial indicators.
In contrast, silver prices reached abou...
British Banks Consider Creating a National Alternative to Visa and Mastercard
SadaNews - Major British bank leaders are preparing to hold their first meeting to establish a national alternative to the American payment networks "Visa" and "Mastercard", in a move reflecting increasing concerns over the near-total reliance on U.S.-owned systems for managing payments within the U...
Oil Declines and Heads Towards Recording Biggest Weekly Loss in 6 Months
SadaNews Economy - Oil prices fell during trading today, Friday, heading towards recording the biggest weekly loss in six months, despite strong gains in the previous session, following statements from U.S. President Donald Trump about progress in talks to end the war with Iran.
Brent crude contrac...
Gold Rises But is on Track for Fourth Weekly Loss
SadaNews Economy - The price of gold rose by more than one percent today, Friday, supported by buying activities; however, it is on track to incur losses for the fourth consecutive week.
Gold advanced in spot transactions (1.1%) to (4428.30) dollars per ounce (at 0228 GMT), but the precious metal h...
The IMF Studies Supporting Economies Affected by the Iran War
SadaNews Economy - Bloomberg reported, citing informed sources, that the International Monetary Fund is exploring ways to finance economies that may need support if the Iran war continues for a long time.
The agency quoted sources stating that "the IMF is developing scenarios for the unfolding of e...
The Implications of the Middle East War on the Global Economy: Concerns of a Comprehensive...
SadaNews Economy - The economic repercussions of the war on Iran are accelerating as it enters its fourth week, with continued reflections pressuring energy markets and global economies, amid urgent government measures and warnings of a crisis that may extend beyond the oil sector to a broader indus...
LNG Buyers Compete for U.S. Supplies as "Ras Laffan" Suspends Operations
SadaNews - LNG buyers in Asia and Europe are competing for the limited remaining shipments from U.S. suppliers after the world’s largest LNG facility in Qatar was halted due to the war in Iran.
According to informed sources who requested anonymity because the information is confidential, importers...
Asia Prepares for Worst Energy Scenarios as Iran War Continues
SadaNews - Governments across Asia are preparing for the worst energy scenarios, which could include lengthy and severe supply disruptions, even as the United States works on a plan to end the war in Iran.
South Korea entered a state of alert on Wednesday, establishing an emergency economic task fo...