The Australian sharemarket opened sharply lower as renewed hostilities in the Middle East rattled investors, before recovering most of its losses by the close. Energy stocks surged on a jump in oil prices, while Telstra slid after a network outage sent its shares to their lowest level since February. SBS Finance Editor Ricardo Gonçalves speaks…
Renewed U.S.-Iran military strikes and attacks on commercial shipping near the Strait of Hormuz have lifted oil prices and reminded markets that geopolitical risks remain a major threat to global energy supplies.
Oil-sensitive Indian stocks tumbled significantly after US airstrikes on Iran. Crude oil prices climbed as sanctions on Iranian sales were reinstated. These events reignited concerns over Middle East stability and potential supply disruptions. Shipping through the Strait of Hormuz remains vulnerable, impacting global energy supply routes. Analysts expect oil inventories to stay under pressure until…
The U.S. has re-imposed sanctions on Iranian oil, citing attacks on vessels in the Strait of Hormuz. The move ends Iran’s oil sale grace period and raises oil prices. Tensions threaten U.S.-Iran negotiations, as the Strait remains a crucial oil transit route. Continued disruptions could impact global energy markets.
The United States has revoked a license allowing Iranian oil sales, citing Iran’s hostile actions in the Strait of Hormuz. This move follows attacks on tankers, risking further strain on US-Iran relations. The region’s tension could disrupt global oil supply and influence energy prices.
Prime Minister Anutin Charnvirakul has instructed Energy Minister Akanat Promphan to find ways to reduce domestic fuel prices, saying lower oil costs would ease the cost of living and reduce business overheads nationwide.
Aker Solutions has been contracted by Tussa Energi to deliver electromechanical equipment for the Tussa II hydropower plant.
Syntholene completed construction of its geothermal-integrated SOEC demonstration facility in Húsavík, nearly six months ahead of schedule.
At Vestas’ annual general meeting, CEO Henrik Andersen addressed shareholders, stating that the recent drop in share price is the most painful aspect for the company. He emphasized the need for strategic focus to navigate market challenges and restore investor confidence.
In a recent interview, the CEO of Maersk Offshore Wind emphasized the company’s commitment to expansion, stating, “We won’t be a one-vessel company.” The firm aims to enhance its fleet and capabilities to meet the growing demands of the offshore wind sector.