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Gulf nations lost more than $50 billion in just 30 days due to the Strait of Hormuz blockade, according to the TESPAM research center in Ankara.
Oil exports from Saudi Arabia, Iraq, and the United Arab Emirates declined by 36.4%. This is not just an energy crisis but a comprehensive economic collapse affecting logistics, trade, and tourism.
The latest 10 news from this category
Greece among the first European countries using AI for automated penalties. The system is used for traffic violations and administrative...
The Iran war is causing an invisible hit to the global food system. Fertilizer prices are surging. Energy accounts for...
Gold surged 2.4% to $4,560 per ounce. Goldman Sachs projects gold to reach $5,400 by end of 2026. Silver rose...
Oil dropped below $100 per barrel amid hopes for peace. WTI at $102. S&P 500 up 2.9%, Nasdaq 3.8%. Gold...
Europe faces a severe energy crisis from the Hormuz Strait closure, which handles 20% of global oil and gas.
Annual eurozone inflation jumped to 2.5 percent in March due to rising energy prices caused by the Middle East conflict.
The head of the Engineering Institution warned that the declining number of civil engineers will impact the delivery of major...
The escalation of the conflict brings rising prices, unstable markets and the risk of a global recession with long-term consequences.
The EU Council convenes an extraordinary session for a coordinated approach to the impact of the Iran conflict on the...
Asian markets fell up to 3.4% after Trump's statement about seizing Iranian oil. Analysts warn of possible 200 dollars per...