Latest Business News
Trump Orders Blockade of Strait of Hormuz After Iran Talks Fail
President Trump has ordered a blockade of the Strait of Hormuz starting 10am NY time, halting maritime traffic to Iranian ports following collapsed weekend talks. Iran deems the action illegal and threatens Gulf ports in response.
Crude and natural gas prices are surging as nations race for oil supplies.
Oil and Gas Prices Spike on Hormuz Blockade Fears
Oil prices resumed climbing while Europe gas futures spiked as the US prepares the Hormuz blockade. Traders are running for cover, with volatility noted though below recent peaks.
Global markets mostly declined in response.
Global Markets Decline Amid Escalating Iran Crisis
Risk assets are in focus as the Iran war escalates, weighing on markets with Tokyo, Seoul, and Sydney openings lower. China stocks opened lower on Iran fears, prompting calls for more stimulus.
Wall Street banks kick off earnings season under pressure.
Hungary's Péter Magyar Wins Election, Unseats Orbán
Péter Magyar has won Hungary's election in a seismic shift, calling for sweeping changes and prompting market reactions. This victory unseats Viktor Orbán after years in power.
Investors eye policy shifts from the new premier.
John Bolton Criticizes Iran Ceasefire as Mistake
Former National Security Adviser John Bolton called the recent ceasefire with Iran a mistake amid renewed tensions. He discussed US strategy as Trump vows the Hormuz blockade.
Escalation follows Iran's missiles reportedly largely depleted.
Nations Race for Oil Barrels Amid Supply Crisis
Countries are in a frantic race for oil barrels as the Hormuz blockade threatens supplies. Australia works to secure urea supply while fuel shortages risk Asia's rice production.
India raised export taxes on diesel and jet fuel.
Shell CEO Highlights Role in Energy Transition Amid Oil Surge
Shell's CEO emphasized the company's big role in the energy transition despite strategy controversies, as oil volatility rises. This comes ahead of his interview preview on competitive strengths.
Markets watch oil majors closely.
Tech Stocks Vulnerable to Iran Crisis, Says Analyst
Wedbush's Dan Ives warns tech stocks are vulnerable amid the Iran crisis and Hormuz blockade risks. Broader risk-off sentiment hits equities globally.
China markets reflect heightened geopolitical concerns.
Iran Threatens Gulf Ports Over US Blockade Plans
Tehran threatens Gulf ports and calls the US Hormuz blockade illegal after peace talks failed. Experts like Stimson Center's Barbara Slavin and former Ambassador Michael Ratney analyze impacts.
SVB Energy's Sara Vakhshouri eyes oil outlook.
Wall Street Earnings Season Begins Under Geopolitical Strain
Wall Street banks kick off Q1 earnings amid oil surges and market declines from Iran tensions. Asia markets check shows caution, with Japan ahead insights from former BOJ official.
Westpac's Sian Fenner discusses global outlook.
Fuel Shortages Threaten Asia's Rice Supply Chain
Fuel shortages from the Hormuz crisis threaten Asia's rice supply, exacerbating urea and energy issues. India hikes taxes on key fuels amid global scramble.
Economic pressures mount on agriculture.