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oil prices
US-Iran follow-up talks called off, clouding outlook for European stocks
The preliminary peace agreement between the United States and Iran has reshaped the outlook for European equities, prompting Wall Street strategists to raise their year-end targets for the STOXX Europe 600 index as geopolitical risk recedes and oil prices fall.
Iran war funneled $374B to fossil fuel industry, 350.org says
The U.S.-Iran war has delivered a windfall to oil and gas companies even as consumers worldwide struggle with elevated energy costs, according to new analysis from the environmental advocacy group 350.org released on Thursday. The report estimates that $374 billion…
Philippine, Thai earnings hit hardest in Southeast Asia by Iran war
Philippine and Thai companies face the steepest earnings downgrades in Southeast Asia as the Iran conflict continues to disrupt energy supply chains, prompting the region's governments to deepen cooperation on energy security through new agreements signed Thursday in Russia.
US-Iran peace deal clouds Europe’s war-fueled EV boom
A months-long surge in European electric vehicle sales driven by the Iran war's impact on fuel prices now faces an uncertain future, as a newly signed U.S.-Iran peace framework sends oil prices tumbling and threatens to erode the economic case…
ECB says inflation will stay elevated despite U.S.-Iran deal
The European Central Bank expects consumer prices in the euro area to remain well above target for the next two years even as a freshly signed U.S.-Iran peace deal brings hope of lower energy costs, ECB Governing Council member Martin…
Trump claims US secretly took oil from Iran; Energy Secretary says he was unaware
President Donald Trump stunned reporters on Wednesday by asserting that the United States has been covertly extracting millions of barrels of oil from Iran, a claim that appeared to catch his own energy secretary off guard during congressional testimony the…
Iran’s Supreme Leader orders enriched uranium to stay in country
A directive from Iran's Supreme Leader that the country's near-weapons-grade enriched uranium must remain on Iranian soil jolted markets on Thursday, erasing much of the optimism that had briefly lifted investor sentiment a day earlier.
Trump leaves Beijing without Iran breakthrough after two-day Xi summit
President Donald Trump departed Beijing on Friday after more than 40 hours of talks with Chinese President Xi Jinping, claiming the two leaders had found common ground on Iran's nuclear ambitions and the reopening of the Strait of Hormuz —…
Trump calls UAE’s exit from OPEC ‘great’ for fuel prices
President Donald Trump on Wednesday welcomed the United Arab Emirates' decision to withdraw from OPEC, calling the move "great" and framing it as a win for American consumers grappling with surging fuel costs amid the ongoing war with Iran.