Middle East, oil
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It's often more important in times of heightened tensions in the Middle East to look more at what is not happening, rather than fixating on the dramatic headlines of tit-for-tat air and missile strikes between Israel and Iran.
Smoke billowed above fuel tanks in Tehran and gas plants on Iran’s south coast on Sunday as energy became the latest frontline in its conflict with Israel. Iran’s creaking energy sector, starved of foreign investment for years by sanctions,
Rising Middle East tensions have driven oil prices higher, potentially boosting Texas Pacific Land's future earnings. Read why TPL stock is a hold for now.
SYDNEY] Abu Dhabi’s state-owned oil company is leading a takeover bid for Australian energy group Santos, valuing it at US$18.7 billion, the two firms said on Monday (Jun 16). Read more at The Business Times.
Oil prices rose as much as 12 per cent in the immediate aftermath of Israel’s attacks on Iran’s nuclear facilities. Over the weekend the conflict escalated further with Israel hitting, among other targets,
If prices go up, Fed officials may be inclined to raise its benchmark rate, raising borrowing costs for businesses and consumers. That could lead to businesses to cut jobs, particularly in the high-growth tech sector, and force Americans to pull back on spending, which drives more than 70% of economic activity in the U.S.
U.S. ultra-low sulfur diesel futures hit the highest level since February, outpacing gains in oil and gasoline as analysts warned that diesel supply is the most exposed to the conflict in the Middle East.
Deputy Prime Minister Richard Marles says it is “inevitable” Australians will pay more for fuel as the conflict between nuclear-armed Israel and Iran escalates.
President Donald Trump has repeatedly demanded the Federal Reserve slash interest rates. But Fed officials have stood pat, waiting to see how his administration’s sweeping policy changes affect the economy first.
After a night of intense cross-border attacks, Iran has threatened any country that attempts to defend Israel | ITV National News