Oil Prices Spike Above $110 as Israel Strike on Iran’s Key Gas Field Rattles Markets
Global oil markets surged into volatility after Israel launched an airstrike on Iran’s South Pars gas field, the world’s largest natural gas reserve sending Brent crude soaring past $110 per barrel. The strike, followed by Tehran’s threats to retaliate against major Gulf energy infrastructure, triggered panic across energy markets. Persian
Lavrov Calls for End to Middle East ‘Aggression’, Criticizes Double Standards
Russia has called for an immediate end to the escalating conflict in the Middle East, with Sergey Lavrov criticizing what he described as double standards in the international response to the war involving Iran, the United States, and Israel. Speaking during an ambassadorial round-table meeting in Moscow, Lavrov questioned why
Gov’t Warns Fuel Firms Against Profiteering Amid Middle East Tensions
Energy Minister Ruth Nankabirwa has issued a stern warning to fuel companies, cautioning them against using the escalating US/Israel–Iran conflict as justification to hike pump prices. Nankabirwa made it clear that Uganda’s fuel supply remains stable and that there is no basis for price increases, given that the Uganda National
Oil Shock and Middle East Escalation Send Global Markets into Tailspin
Global markets sank deeper into turmoil as a surge in oil prices and intensifying conflict in the Middle East rattled investor confidence, unleashing broad sell-offs from Asia to Wall Street. In South Korea, the benchmark KOSPI posted one of its sharpest three-day declines in years, tumbling between 14 and 16
