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petroleum

Germany targets oil firms to prevent wartime price gouging

Germany targets oil firms to prevent wartime price gouging

Germany said Tuesday its competition watchdog will soon get more powers to target energy firms over concerns they are unfairly hiking petrol prices to profit from the wartime oil shock. Global oil prices have surged as the Middle East war, pitting allies the United States and Israel against Iran, has

Gas prices continue to rise in Southwest, U.S. during conflict

(The Center Square) - Gas prices continued to rise across the nation as the U.S.-Israel conflict with Iran went on past its second week. Since the conflict started on Feb. 28, the average cost for a gallon of gas has increased by nearly 75 cents. With no sense of

Middle East war: global economic fallout

Middle East war: global economic fallout

Here are the latest economic events in the Middle East war on Monday: - Stocks rise as oil prices cool - Global markets mostly rose as oil prices pulled back, with investors focused on the Strait of Hormuz, the Gulf waterway through which a fifth of global crude oil passes, where traffic

Equities rise on oil easing, with focus on Iran war and central banks

Equities rise on oil easing, with focus on Iran war and central banks

Oil prices retreated and equities rose Monday as investors remained focused on the Strait of Hormuz, with US allies pushing back against President Donald Trump's demands to help reopen the key waterway to oil and natural gas tankers. As the US-Israel war on Iran entered its third

Hours-long fuel queues in Laos capital Vientiane

Hours-long fuel queues in Laos capital Vientiane

Long queues formed at petrol stations across the Laotian capital Vientiane on Monday as fuel shortages deepened, with the ripples of the Middle East conflict reverberating across landlocked Laos. The Southeast Asian nation is dependent on neighbouring Thailand for fuel supplies, which initially announced it was suspending exports to conserve

Middle East war: global economic fallout

Middle East war: global economic fallout

Here are the latest economic events in the Middle East war on Monday: - Pakistani tanker transits Hormuz - A Pakistani oil tanker transited the Strait of Hormuz with its automatic transponder system activated, monitor Marine Traffic said Monday, the first such voyage by a non-Iranian tanker since the start of

The environment, another casualty of war in the Mideast

The environment, another casualty of war in the Mideast

From the jet fuel used in bombing raids to acrid smoke from burning oil depots, the conflict in the Middle East is inflicting a significant toll on nature and the climate. AFP interviewed experts about the environmental cost of war that often goes under the radar: - Bombers and warships - US