Economy
Iraq cuts Basra oil output by 70% amid regional escalation
Production reduced from 3.3M bpd to 900,000 after halt of southern exports
Iraq cuts Basra oil output by 70% amid regional escalation
Production reduced from 3.3M bpd to 900,000 after halt of southern exports
IMF warns prolonged energy price surge could lift inflation
Prolonged energy price shock from Middle East war could push up global inflation, weaken output, keep central banks on alert about inflation expectations, says Fund
Switzerland signals readiness to curb franc gains amid Iran war risks
Swiss Central Bank keeps policy rate at 0%, says it is more willing to intervene in exchange markets to prevent excessive franc appreciation amid heightened geopolitical tensions
Middle East tensions redraw Europe’s fuel market as diesel prices outpace gasoline
Supply disruptions, higher logistics costs lift fuel prices across Europe, with Netherlands, Denmark most expensive markets, according to EU Commission data
Brent crude pulls back below $100 per barrel after surging to $119 amid sharp volatility
Oil benchmark retreats from intraday peak, but remains elevated as attacks on Gulf energy facilities fuel supply concerns
US new home sales unexpectedly fall 17.6% in January
New house sales at 587,000 in January, according to US Census Bureau
