Topic
iran war
Commodities Shell Profits Double as Oil Prices Rise Due to Iran War
Shell reported a doubling of second-quarter profits to $9.84bn, driven by soaring oil prices following the outbreak of the US-Israel war with Iran. The conflict caused major disruption to global oil and LNG supplies through the Strait of Hormuz. Shell's first-half earnings surged 70% to $16.76bn.
Logistics Ryanair Profits Plunge 34% on Iran War Fears, Fuel Costs Spike – Air Freight Implications
Ryanair's pre-tax profits dropped 34% to €593m as the Iran war drove jet fuel costs higher and reduced passenger demand. The airline cut fares and expects lower summer fares. Crude oil surpassed $90/barrel, and traffic through the Strait of Hormuz halted. This signals potential air cargo capacity constraints and fuel surcharges for freight forwarders.
Logistics 2026 Air Cargo Contract Rates Forecast to Rise Up to 15% on Iran War Capacity Crunch
Air cargo contract rates are now expected to rise 5% to 15% in 2026 instead of falling, according to freight analytics firm Xeneta, because renewed hostilities between Iran and the United States are reducing airline capacity through the critical Middle East corridor. The war that began Feb. 28 immediately forced more than 12% of global air cargo capacity out of service. Cathay Pacific has postponed resumption of services to Dubai and Riyadh indefinitely.
Business India's Economy Passed the Iran War Test, But El Niño Threatens Recovery
India's economy has emerged resilient after the US-Iran conflict, with Q1 FY2026-27 high-frequency indicators like GST collections (up 13.9% to Rs 1.95 lakh crore), vehicle sales (up 22% to 2.56 million units), and industrial production (up 5.1%) flashing green. However, a poor monsoon due to El Niño threatens food inflation and could dampen the recovery.
Commodities Crude Oil Plunges to Pre-War Levels on US-Iran Ceasefire, India Fuel Price Cut in Doubt
Global crude oil prices have crashed to a four-month low, hovering around $70 per barrel amid the US-Iran ceasefire and reopening of the Strait of Hormuz. While this has sparked expectations of petrol and diesel price cuts in India, experts say a reduction is unlikely soon due to government fiscal priorities and the need for oil marketing companies to recover past losses.
Business Wall Street rebounds as AI stocks recover; SpaceX debut and Iran tensions in foc
US stocks rebounded over two sessions, with AI-linked stocks recovering from recent volatility. Oracle tumbled 10% after announcing a $40 billion debt-and-equity plan for AI investments, while chipmakers Intel and Applied Materials surged. Oil prices fell sharply after President Trump withdrew a strike threat against Iran, boosting sentiment. The much-anticipated SpaceX IPO began trading on the Nasdaq, commanding a $1.77 trillion market value. The ECB raised rates by 25 basis points, and markets await the Fed decision next week.
Trade EU Considers Freeze on Russia Oil Price Cap Amid Iran Conflict
The European Union is contemplating a temporary freeze on its price cap for Russian oil due to the ongoing conflict in Iran. The current cap is set at $44.10 per barrel, with a review scheduled for July.