The shadow of Hormuz: Why oil prices are finally reacting to Middle East crisis
Iran’s retaliation for Israeli strikes on Lebanon is raising concerns that the political turmoil could spill over into the crude market
Mideast Starbucks franchisee firing 2,000 workers after being targeted in Israel-Hamas war boycott
Starbucks has found itself alongside other Western brands targeted by pro-Palestinian activists over the war. The company has been trying to counter what it describes as ‘ongoing false and misleading information’
With oil prices slumping, OPEC+ producers weigh more production cuts
AP|
The decision comes amid uncertainty about when the slow-growing global economy will regain its thirst for fuel for travel and industry, and with producers counting on oil profits to bolster their coffers
Oil producers’ cuts could boost gasoline prices, help Russia
Combined with a cut of two million barrels per day announced in October, producers have axed about 3% of the world’s oil supply
Saudis and other oil giants announce surprise production cuts
The move would likely raise oil prices, further straining relations between Riyadh and Washington as the world copes with inflation fueled in part by the war in Ukraine
Senate takes first step toward repealing Iraq War authorization
The push to end that authority comes as the United States marks the 20th anniversary of the Iraq War