Global economy

War creating ‘largest’ oil shock in history as Iran hits new Gulf targets

An oil tanker is seen listing to one side after it was attacked and set ablaze off Iraq’s coast.

IEA members to release 400 million barrels from oil reserves to ease Iran war’s impact

Germany is limiting how many times petrol stations can raise prices to just one per day.

Japan to release part of oil reserves ahead of IEA-led decision, PM says

Japan is dependent on the Middle East for around 95 per cent of its oil supplies.

G-7 energy ministers ready to take ‘all necessary measures’ on oil reserves

The IEA is proposing the largest ever release of oil reserves, as the Middle East war drives up oil prices.

China’s growth is softening and global uncertainty does not help

If this war in the Middle-East persists, China’s growth outlook faces additional downside risks.

G-7 to discuss joint release of emergency oil reserves amid Mid-East war

Motorists queueing at a petrol station in Quezon City, the Philippines, amid rising prices on March 9.

IMF urges preparation for ‘unthinkable’ amid Mid-East conflict

IMF head Kristalina Georgieva warns that a 10 per cent hike in energy prices persisting for a year may push global inflation by 40 basis points.

Japan asked US not to disadvantage Tokyo under new tariff rules

Japan's Prime Minister Sanae Takaichi is set to visit the United States on March 19.

Trump demands Iran’s ‘unconditional surrender,’ complicating diplomatic paths

Smoke rises over Beirut’s southern suburbs following an air strike by Israeli forces against the Iran-backed militant group Hezbollah.

IMF says Mid-East war to test world economy, expecting new shocks

IMF managing director Kristalina Georgieva warned that a prolonged conflict could affect energy prices, market sentiment, economic growth and inflation.

E-paper

Newsletters

Podcasts

RSS Feed

About Us

Terms & Conditions

Privacy Policy

Need help? Reach us here.

Advertise with us

MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.