Oil jumps over 2% as Iran standoff deepens, Hormuz shipping stalls
Oil settled up over $2 on Monday as diplomatic efforts to end the Iran war stalled and shipping through the Strait of Hormuz slowed sharply.
Economy
Oil climbs $2 as Iran standoff deepens, Hormuz shipping stalls
Oil jumped over $2 on Monday as US-Iran talks stalled, Hormuz transits slowed, and ADNOC sold spot crude to Asia.
UN presses US and Iran to return to talks as 60-day deadline nears
The UN urges Washington and Tehran to resume talks as a 60-day deadline approaches, while Iran and Oman work on a Hormuz shipping plan.
Hundreds of vessels remain stuck in Strait of Hormuz as US-Iran talks stall
Hundreds of ships remain stranded in the Strait of Hormuz as a 60-day US-Iran negotiating window expires without progress.
San Francisco Fed paper suggests current policy may be accommodative
New San Francisco Fed research suggests current monetary policy is accommodative when measured against a medium-run neutral rate estimate.
Chad Shakes Up Anti-Corruption Leadership Amid Oil Audit Dispute
Chad's president replaced anti-corruption chiefs after inspectors were detained while auditing the state oil company.
US-Canada Trade Tensions: Key Disputes Ahead of Tariff Deadline
Canada faces new U.S. tariffs on Aug 19 amid disputes over dairy, alcohol, procurement, and more.
Iran's Leaders Fear Economic Strangulation Could Reignite Unrest
Iranian officials worry new US sanctions will worsen economic hardship and trigger nationwide protests, as inflation and unemployment bite.
Bodies of Pakistani Sailors Killed in Red Sea Attack Begin Journey Home
Yemeni officials at Mokha Port prepare the remains of two Pakistani sailors killed in a Houthi attack on the Tihama for repatriation.
Oil Holds Steady as Iran-US Talks Stall, Hormuz Shipping Slows
Oil prices remain flat amid a diplomatic stalemate between the US and Iran, with Strait of Hormuz shipping showing a sharp slowdown.
Brazil's Finance Minister Warns of 'Painful Final Mile' in Fiscal Reforms
Brazil's finance minister says the country faces a difficult stretch of fiscal reforms to tackle high interest rates, debt, and household leverage.
Russia and China to trial drone and driverless truck cargo links
Russia's Amur region will test drones and driverless trucks for cross-border cargo with China, aiming to ease trade bottlenecks.
Canada faces 50% US tariffs as trade talks remain deadlocked
US tariffs of up to 50% on Canadian goods take effect Wednesday, covering wine, dairy, furniture and more, as negotiators fail to bridge differences.
Russia Turns to Indian Gasoline as Drone Strikes Hit Refineries
Russia has imported a cargo of gasoline from India to ease domestic fuel shortages caused by Ukrainian drone attacks on refineries.
Eurozone bond yields climb to multi-year highs on geopolitical and fiscal worries
Long-dated eurozone yields hit multi-year peaks as Middle East tensions and fiscal concerns keep inflation worries alive.
Iran Warns of Offensive in Strait of Hormuz as Peace Deal Stalls
Iran says it will shift to a fully offensive posture and attack if the U.S. fails to implement the June peace deal within weeks.
Trump's ultra-rich appointees outnumber previous White Houses by fourfold
Public Citizen finds 57 Trump officials worth $100M+, four times the combined total of the last three presidents.
Canada's July inflation hits 3% as gasoline costs surge
Canada's annual inflation rose to 3% in July, matching the BoC's ceiling, as gasoline prices jumped 25.7% year-on-year.
Russian state bank dismisses economist who warned of losing war of attrition
VEB fires chief economist Andrei Klepach after he said Russia was falling behind the West and China and facing mounting costs from the Ukraine war.
Taiwan to Give Every Citizen NT$10,000 in 2027 as AI Boom Boosts Revenue
Taiwan's 2027 budget includes a NT$10,000 cash handout for all citizens, funded by AI-driven economic growth.