World Business NewsAviation firms shed $22 billion as major Gulf hubs remain shut for third day, leaving tens of thousands stranded as aviation faces biggest disruption since Covid-19 pandemic
World Business NewsAWS says power to its UAE data center was shut down after objects struck the facility, triggering sparks and a fire
World Business NewsDollar rises due to safe-haven demand and inflation concerns
World Business NewsSpot gold rises 1% to $5,377.21, US gold futures for April up 1.5% to $5,391.90; Spot silver surge 1.4% to $90.67, platinum adds 0.6% to $2,316.50, while palladium gains 1.6% to $1,795.08 per ounce
World Business NewsBrent rises 1.4% to $78.83 after touching $82.37, highest since Jan 2025; Monday contract settles 6.7% higher
World Business NewsIndustry experts warn that an extended closure of the Strait of Hormuz will cause oil prices to soar
World Business NewsChina has about six months of oil stockpiled, India has reserves up to 25 days; Global prices could surge on prolonged conflict; 90% Mideast oil exports go to Asia; US cut its Mideast oil imports in recent years to 900,000 bpd in recent years
World Business NewsStocks on Wall Street stable on Monday after choppy session; Oil prices remain elevated as Iran vows to close Strait of Hormuz; Korean shares lead declines for regional benchmark as Kospi tumbles 2.5%
World Business NewsEnergy supply disruptions widen as Qatar halts LNG output, impacting 82% Asian clients; key regional fields and facilities go offline as precaution
World Business NewsAtlantic LNG rates rise to $61,500/day, Pacific to $41,000, while Middle East–China VLCC route doubles to Worldscale 419
World Business NewsQantas drops 10% at open; Cathay, Singapore Airlines cancel Middle East routes as oil jumps 7%
World Business NewsMajor marine insurers including Gard, Skuld, NorthStandard, London P&I Club and American Club say policy cancellations will take effect from March 5; War risk cover will be excluded in Iranian waters, as well as the Gulf and adjacent waters