02 March 2026

Global economy braces for oil turbulence

The exchange of strikes between Iran and its adversaries is rapidly transforming a regional conflict into a source of global energy risk. Drone attacks on Saudi Aramco facilities in Ras Tanura, a fire at infrastructure in the Ahvaz area, and reports of an almost complete halt in tanker traffic through the Strait of Hormuz together paint an alarming picture for the global oil market.
New explosions heard over Doha
Maps and charts of the Iran crisis

The steady flow of Gulf oil shipments to Europe, the United States and Asia through the narrow shipping lanes of the Strait of Hormuz has created the world’s largest oil transit chokepoint.
US tariff lawsuits returned to trade court to determine next steps

A U.S. appeals court on Monday returned the lawsuits that led to most of President Donald Trump's tariffs being struck ‌down to the U.S. Court of International Trade, which could determine the process for refunding more than $130 billion to importers.
China's Huawei and UK's Aggreko to develop storage system project in Brazil's Amazon

China's Huawe will sell batteries to British business Aggreko for a renewable energy project in Brazil's Amazon region, in what is expected to become the country's largest-ever energy storage system, the two companies told Reuters.
Rare earths company REalloys receives Pentagon funding

Rare earths company REalloys (ALOY.O), opens new tab has been awarded a U.S. Department of Defense contract worth up to $1.7 million to fund design of a processing facility ‌for metals used to make magnets for weapons and electronics, it said on Monday.
Berkshire Hathaway shares slide after earnings, CEO letter

Berkshire Hathaway (BRKa.N), opens new tab shares on Monday had their largest decline since Warren Buffett announced he would step down as chief executive, after the conglomerate posted financial results ‌that fell short of some analysts' expectations and expressed caution about investing its cash.
Turkish president, NATO chief discuss regional, global developments

Turkish President Recep Tayyip Erdogan on Monday discussed regional and global developments, as well as issues on NATO's agenda, with NATO Secretary General Mark Rutte in a phone call following the attacks on Iran and the subsequent clashes.
Satellite images Saudi Arabia’s Iran-hit Ras Tanura oil facility - IMAGES
Kazakhstan to update combat training system of armed forces

Kazakhstan will revamp its combat training system amid a number of changes to its armed forces.