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US diesel price surpasses $5 per gallon amid Iran war
SadaNews - Diesel prices in the United States have risen to over $5 per gallon for the first time since December 2022, amid the ongoing Iran war disrupting supplies, adding new pressures on broad sectors within the world’s largest economy.
The national average retail price reached $5.044 pe...
Oil Rises as Supply Threats Escalate Amid Ongoing War with Iran
SadaNews - Oil prices rose following their first decline in nearly a week, as Iran escalated its attacks on energy infrastructure in the Arabian Gulf region.
Brent crude prices increased towards $105 per barrel after losing 2.8% on Monday, while West Texas Intermediate crude was trading near $98....
Trump Requests to Postpone Summit with Chinese Counterpart for a Month Due to Iran War
SadaNews - President Donald Trump said that he has requested China to postpone a summit that was scheduled to be held with his Chinese counterpart Xi Jinping for about a month, indicating that it is important for him to remain in Washington to oversee the war with Iran.
During an event at the Whi...
Gold Stabilizes as Traders Assess Inflation Risks and Oil Supply Shock
Sada News - Gold moved within a narrow range as traders balanced inflation risks against attempts to contain the oil supply shock stemming from the war in the Middle East.
The precious metal rose by up to 0.5% to remain above the $5,000 per ounce mark, after falling 0.3% in the previous session.
O...
Technology Boosts U.S. Futures as Fed Decision Awaits
SadaNews Economy - U.S. stock index futures rose on Monday, led by gains in "Meta" stocks, following a report that the tech giant is preparing for widespread layoffs in the artificial intelligence sector. This comes as rising crude oil prices due to the ongoing conflict in the Middle East dampened i...
Ministry of Energy: Global gasoline prices of both types rise by 27.4% in the second week...
SadaNews - Fuel prices experienced a notable rise during the second week of March, according to the global price bulletin, amid varying increases that included gasoline, diesel, kerosene, and fuel oil, while the price of liquefied petroleum gas remained stable.
According to data published by the Mi...
Aluminum Prices Rise as Bahrain's Alba Reduces Production
SadaNews - Aluminum prices have increased after one of the world's largest smelters halted about a fifth of its production capacity, deepening the risk of supply shortages as the Iran war chokes supply coming from the Middle East.
On Sunday, Aluminum Bahrain announced that it has begun a gradual sh...
Iran's War Puts Water Security in the Gulf Under Scrutiny
SadaNews - Iran's war has revealed a crucial issue in the oil-rich Gulf region, namely its dependence on desalination plants.
The countries in the region suffer from a scarcity of natural freshwater resources, prompting them to convert seawater into potable water to meet the growing needs of their...
Oil Prices Fluctuate as Markets Assess Supply Risks
SadaNews - Oil prices fluctuated after Iran stated that crude flows were continuing from its main export hub following a U.S. attack on military facilities, while President Donald Trump intensified pressure on countries to help reopen the Strait of Hormuz.
Brent crude was trading around $105 per ba...
Trump Pressures China to Help Secure Hormuz and Threatens to Postpone Summit with Xi
SadaNews - U.S. President Donald Trump hinted that he may postpone the summit he plans to hold with Chinese President Xi Jinping if Beijing does not assist in reopening the Strait of Hormuz, according to the Financial Times citing an interview with the U.S. President.
Trump told the newspaper: "It...
Gold Fluctuates Near $5,000 Amid Escalating War and Rising Oil Prices
SadaNews - Gold prices fluctuated as the war in the Middle East entered its third week, while investors assessed the impact of the dollar's decline against the ongoing threats to global oil supplies.
The precious metal traded around $5,000 per ounce, after falling by as much as 1% before trimming i...
Iran's War Puts Global Central Banks Face-to-Face with Inflation Fears
SadaNews - Global central banks are expected to conduct their first assessments of the economic damages after more than two weeks of conflict between the United States and Iran.
The anticipated decisions next week - which involve all members of the G7 and eight regions among the world's top ten mos...