Global Economy
Strait of Hormuz Traffic Slows as Iran Strikes Raise Safety Risk
The number of tankers transiting the Strait of Hormuz fell in the past day to the lowest level in two months, shipping data showed on Monday, as renewed strikes between the U.S. and Iran and attacks ...
Extreme Weather to Drive $20 Trillion in Spending
Extreme weather will likely spur more than $20 trillion in global spending over the next decade, boosting sales and earnings for reinsurers and companies involved in energy efficiency and climate ...
Supply-Chain Stress That Peaked in COVID Heads Higher Again
The impact of the energy crisis on the global economy in recent months is showing up in gauges of supply-chain stress that flashed red during the pandemic, adding to reasons for central banks to be ...
Iran War Is ‘Supercharging’ Clean Energy Transition, UN Climate Chief Says
The Iran war is "supercharging" the world's shift to renewable energy, as countries scramble to reduce their exposure to volatile oil and gas markets, the U.N. climate secretary said on Thursday. The ...
Trump Blockade of Iran Ports Risks Widening War to High Seas
President Donald Trump's threat to blockade the Strait of Hormuz after talks with Iran collapsed over the weekend risks widening a war now entering its seventh week, lifting oil prices and raising ...
U.S., Iran Agree to Two-Week Ceasefire Brokered by Pakistan
The United States and Iran agreed to a two-week ceasefire brokered by Pakistan, potentially suspending a six-week-old war that has killed thousands, spread across the Middle East and caused ...
‘Black Swan’ Risks Stalk Container Carriers in Avoiding Iran War
The Iran conflict has thrust container shipping from an industry bracing for a capacity glut to another potential "black swan" supply crunch. That paradigm shift dawned on the more than 3,500 ...
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates
Marine insurers are canceling war risk coverage for vessels and oil shipping rates are set to surge further after the widening Iran conflict left at least three tankers damaged, a seafarer killed and ...