Oil

The IMF issued three scenarios for global GDP amid uncertainty over the war in the Middle East: the main "reference forecast," a middle "adverse scenario," and a much worse "severe scenario."

Yemen's coast guard stated that the tanker’s location had been identified and efforts were underway to track it, take necessary measures to recover it, and ensure the safety of its crew.

According to Pentagon officials, over 40 vessels carrying oil and other contraband have been redirected by the US military since the blockade began on April 13th. 

Oil shipments from Russia have jumped 75% to about 60,000 barrels per day this year, making Moscow the country's dominant crude supplier following the fall of Assad in December 2024.

Abu Dhabi’s exit, a summit snub, and public criticism expose a widening Saudi-Emirati split reshaping energy and security coordination.

As a result of the blockade on Iranian ports, Tehran has been forced to store all the oil it extracts through various means, including onshore facilities and floating storage aboard vessels.

Does Washington not realize that Tehran is already holding the world hostage? Hegemony over Hormuz is the bomb – a weapon far more immediate and devastating than any nuclear arsenal.

World Bank forecasts a 24% rise in energy prices in 2026, driven by the Iran conflict and the continued closure of the Strait of Hormuz, affecting global markets.

While the streets are full of people, their pockets are empty. The Iranian rial has become a liability that citizens are desperate to offload.

The exit would complicate OPEC+'s efforts to balance the market through supply adjustments because the group would have control over less of the global production.