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Oil prices jump as US, Iran trade fire in Strait of Hormuz

Brent crude rises amid clashes in critical waterway.

SH

What is China’s anti-sanctions law and how does it work?

Beijing’s order blocking US sanctions on five oil refineries marks first invocation of 2021 law.

china

Saudi Arabia posts $33.5bn budget deficit amid drop in oil sales

Kingdom announces sharp rise in budget shortfall amid the effective closure of the Strait of Hormuz.

Saudi Arabia

Airlines hike fares, cut millions of seats as Iran war drives up fuel costs

Surging jet fuel prices are prompting carriers to slash their flight schedules, casting a cloud over summer travel rush.

air travel

Oil prices surge as violence flares in Strait of Hormuz

Brent crude rises nearly 6 percent as soaring tensions in waterway push ceasefire to the brink.

SH

Oil prices flat as Trump’s plan for Strait of Hormuz fails to calm market

Brent crude is largely unmoved by Trump’s announcement of the operation, dubbed ‘Project Freedom’.

Gas prices at a station.

Austrian police arrest man after discovery of rat poison in baby food

Arrest of 39-year-old comes after Swiss company HiPP last month issued product recall over tainted baby food jars.

HiPP

Trump administration fires all members of US National Science Board

Democrats blast latest move by the administration to radically restructure the federal government.

National Science Board

Oil prices rise despite Iran’s proposal to reopen Strait of Hormuz

Brent crude rises 3 percent despite Iran’s offer to reopen waterway in exchange for deferral of nuclear talks.

Wells at an oilfield.

Italy extradites Chinese cyber-espionage suspect to US

US prosecutors say 34-year-old Xu Zewei hacked into universities to steal vaccine research during COVID-19 pandemic. 

italian police