Global oil prices surged past $120 on Thursday, briefly touching $122, the highest level since 2022 as fears of prolonged supply disruptions intensified amid a deadlock in talks to end the US conflict with Iran.Brent crude for June delivery rose around 1.9% to near $120 a barrel, while US West Texas Intermediate (WTI) edged up …
File photo (Picture credit: AP) Asian markets showed a mixed and cautious trend on Friday, with investors remaining on edge as uncertainty around the Iran conflict and stalled US-Iran talks continued to cloud sentiment.MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.3% and was on track for a modest weekly gain of 0.8%.Japan’s …
The current energy shock may feel sudden, but for China, it is anything but unexpected. Long before tensions escalated in the Middle East, Beijing had already begun reworking its energy strategy to withstand exactly this kind of disruption. According to a report by The New York Times, China steadily built up oil stockpiles, expanded renewable …