Stocks near record high as crude oil drops on Iran
Global stocks climbed to approach a record high as crude oil fell after officials signaled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows. The dollar weakened.
Zim firms urged to curb energy costs, seek alternatives as US-Iran war stokes inflation
The Confederation of Zimbabwe Industries (CZI) has urged businesses to prioritise energy cost containment, optimize supply chains and seek alternatives, as the ongoing US-Iran conflict stokes inflation and disrupts raw materials access.
Invictus showcases Zim oil breakthrough on global centre stage
Invictus Energy Limited (Invictus) will showcase Zimbabwe’s oil project breakthrough on a global centre stage at the Africa Energies Summit in London this week.
The obvious solution to the global oil shock finally makes sense
If oil is in such short supply, why can’t we simply drill more of it?
Oil prices increase after Iran doubles down on Strait of Hormuz closure, accuses US of undermining trust
Brent crude, the international benchmark, has gone up about 2.14 percent to $107.58. US crude increased 2.08 percent to $96.36.
Invictus raises $10 million to advance oil, gas project in Zim
The $10 million will fund forward works at its Invictus’ 80 percent-owned Cabora Bassa oil and gas exploration project in northern Zimbabwe.
Oil prices rise as Iran restricts access to Strait of Hormuz, ceasefire nears expiration
Brent crude, the international benchmark, is up about 7 percent to $96.88, after settling on Friday at its lowest level since March 10 on news Iran would reopen the strait. US crude was up 7 percent to $90.33.
If the war’s over, when does everything go back to normal?
If the war is actually ending, the logical question from anyone who has filled a gas tank over the past month is: When will prices return to where they were before the war?
29 African currencies knocked down by Middle East war: AU,AfDB
At least 29 African currencies have weakened, according to a joint assessment by the African Union and the African Development Bank, amplifying the cost of servicing external debt and importing essential commodities such as food, fuel, and fertiliser.
Trump says US blockade of Iranian ports to begin on Monday 14:00
Donald Trump said that the US will start blockading ships entering and leaving Iranian ports from Monday, 10:00 ET (14:00 GMT, 15:00 BST)