Latest Business News
Oil Prices Drop 13% After Surge Amid US-Iran Conflict
West Texas Intermediate crude fell 13.8% today after spiking higher yesterday due to US escalation against Iran, while Brent dropped 12.6%. Stocks rose with S&P up 0.5% and Nasdaq 0.7%, as markets hope for deployment of global oil stockpiles.
Gold climbed 1.7% and Bitcoin 3.3%, but oil majors like Exxon Mobil dipped 1%.
G7 Ministers Discuss Oil Stockpiles But Refrain from Release
Surging oil prices from Iran war threaten global economy, prompting G7 talks on strategic reserves, but no decision to release them was made. This follows spikes in oil that could impact inflation and energy costs worldwide.
Earlier meetings addressed similar concerns without action.
US Warns Iran of Intense Strikes as War Escalates
US signals escalation in war on Iran, contributing to volatile oil markets and closure of Strait of Hormuz. This has led to flight cancellations threatening $11.7 trillion global travel industry.
Markets react with higher crude initially, now retreating.
Indian Nifty Hits 24,200 Amid Oil Volatility and Iran War
Indian equity indices closed strongly with Nifty at 24,200, led by gainers like Shriram Finance and Interglobe Aviation. Losers included Infosys and Reliance Industries despite global oil shocks from Israel-Iran war.
Sensex followed suit in positive territory.
Oil Could Surge Beyond $200 if Strait of Hormuz Stays Blocked
Expert Rory Johnston warns prolonged Iran war and Hormuz closure could push oil to over $200/barrel, causing shortages. Jet fuel surges even more extremely, hitting Asian refining runs.
This represents a worst-case industry scenario.
China's Trade Surges 20% in Early 2026 Despite US Export Drop
China's trade boomed by a fifth in January-February, far exceeding forecasts even as US exports plunged. This strong performance bucks global tensions from oil disruptions.
Officials highlight robust activity amid external shocks.
Global Stocks Rise on Hopes of Oil Stockpile Deployment
S&P 500 gained 0.5% and Nasdaq 0.7% as investors anticipate release of strategic oil reserves amid Iran conflict. US 10-year yield at 4.11% reflects shifting market dynamics.
Energy funds like US Oil Fund fell 4.7%.
Iran War Spikes Threaten Inflation, Energy, and Mortgages
Ongoing Iran conflict drives up oil prices, impacting inflation, energy costs, and even mortgage rates globally. Businesses face higher operational expenses from fuel surges.
G7 monitors situation closely.
Trump Floats Ending Iran War and Lifting Oil Sanctions
Former President Trump signals possible war end and removing oil sanctions amid surging prices from Iran hostilities. This could ease market pressures if pursued.
Markets watch for policy shifts.
Russia Gains as India Seeks Oil Amid Hormuz Disruptions
India ramps up Russian crude purchases after US waiver, as Strait of Hormuz block limits Gulf supplies. This shifts global oil flows amid war.
China also eyes alternatives for 20% of its imports.
Travel Industry Faces Chaos from Iran War Flight Cancellations
Iran war causes widespread flight disruptions, endangering $11.7 trillion global travel sector. Oil spikes exacerbate costs for airlines and consumers.
Recovery hinges on conflict resolution.
China Benefits from Oil Volatility, Says Analyst
Chinese officials claim higher oil prices from conflict will aid their economy amid market buildup. They downplay disruptions to Strait of Hormuz flows.
Press conference remarks described as confusing.