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(Bloomberg) — Russia’s key Black Sea oil terminal caught fire following an overnight drone attack, Ukraine’s General Staff said on Monday, confirming earlier satellite images from NASA. Read More
Amazon.com Inc. has joined other companies in adding fuel surcharges as they try to deal with high gas prices due to the war in Iran. Read More
Synthetic Canadian oil prized by refiners for its rich diesel output tripled in a matter of days amid a worldwide clamour to secure supplies of the truck and train fuel. Read More
(Bloomberg) — Iran rejected a proposed ceasefire as a deadline from President Donald Trump looms to re-open the Strait of Hormuz or face further attacks on civilian infrastructure. Read More
(Bloomberg) — Bond traders kicked off the week betting that the Federal Reserve will keep interest rates on hold for the coming year, with the Treasuries market holding steady ahead of President Donald Trump’s extended deadline for Iran to reopen the Strait of Hormuz. Read More
The outcome of the Iran war remains unclear, but the resulting oil shock has revealed a novel vulnerability in the global economy. Never has the world entered a crisis of any kind with such high deficits and debt levels. This burden will limit the ability of governments to cushion the impact of elevated energy prices. Read More