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South Korean PM cancels China visit as energy concerns mount amid Iran war

The last-minute cancellation comes as the effective closure of the Strait of Hormuz is piling pressure on Washington and on major importers of oil, gas and fuels from the Persian Gulf

From Indian films to Italian wine, Iran war ripples through global economy

India is among the most vulnerable to the war's fallout, with heavy dependence on imported crude and LPG, much of it routed via Hormuz, now facing disruptions and shortages

Europe, Australia agree to free trade deal to boost ties, defy US

The conclusion of negotiations for the agreement was announced by Australian PM Anthony Albanese and Ursula von der Leyen, the EU's top executive

Japanese PM Takaichi orders review of entire supply chain for oil products

Takaichi assigned the task to Trade Minister Ryosei Akazawa on Tuesday morning at a meeting with relevant ministers

Saudi Arabia, UAE take steps toward joining Iran war amid escalation

Saudi Arabia agreed to give the US military access to King Fahd Air Base, an apparent reversal after saying its bases couldn't be used to attack its longtime rival

AI threatens to leave masses behind unless they invest: BlackRock CEO

Encouraging individuals to invest for the long-term alongside that probable growth "is both the challenge and the opportunity," he said

Trump admin asks Supreme Court to halt DOGE probe, block records access

The justices intervened in the same case last year in favor of the administration, halting CREW's fact-finding push

Nepal seeks fourfold increase in hydropower supplies to India amid Iran war

The Himalayan nation is looking to nearly double its contribution to India's grid to 1.1 gigawatts this summer, when high temperatures are expected to drive record demand

New York airport closes as Air Canada plane hits fire truck; see pics

The aircraft hit a Port Authority of New York and New Jersey ground vehicle and the airport was closed to incoming flights from across the US and Canada

Two Indian vessels carrying LPG are in transit through Strait of Hormuz

The two supertankers were signaling Indian ownership instead of a destination, but are likely to be heading to India, which has been facing acute shortages of LPG, used as cooking gas

Credit Suisse AT1 bond crash may have fuelled HDFC Bank leadership crisis

The rift came down to differing views over accountability, particularly over client losses tied to risky bonds sold by Credit Suisse

Goldman raises oil forecasts on largest-ever supply shock amid Iran war

Brent is expected to average $85 a barrel in 2026, up from an earlier forecast of $77, analysts including Daan Struyven said in a note

Trump's 48-hour Iran ultimatum raises risk of reckless escalation

The logic is obvious: Having started the war, Trump can now only win it by continuing until, at a minimum, Iran is unable to endanger tanker traffic through Hormuz

China's state refiners explore Iranian oil after US sanctions waiver

Limited relief opens door to new buyers amid global supply crunch

Ukrainian drone strike hits Russia's Primorsk oil port, damages fuel tank

Emergency services are working to extinguish the blaze at the fuel storage tank at Primorsk, and personnel have been evacuated

Zombie oil tanker exits Strait of Hormuz as Trump, Iran trade threats

The vessel posing as Nabiin is likely a zombie tanker, which assumes the identity of a scrapped, legitimate ship

West Asia war damages over 40 energy assets, risks supply disruption: IEA

The effect of the current disruptions is equivalent to the two major oil crises in the 1970s and the 2022 natural gas crisis after Russia invaded Ukraine 'all put together,' IEA director Birol said

Trump's tariff playbook returns, this time with lawyering not legitimacy

The unusually rapid pace of these 76 inquiries raises concerns over due process, with expectations that responses may align closely with the Trump administration's preferred outcomes

South Asian industries pivot to solar, cut reliance on gas amid Iran crisis

In India and Pakistan, once key customers for the Persian Gulf's LNG exports, industries have been rapidly shifting away from both gas and grid power to make use of cheap, abundant solar energy

'Pandemonium' fuels surge in US yields as fed rate-hike bets emerge

Ten-year yields rose 11 basis points to 4.39 per cent, extending their rise since hostilities began to 44 basis points