Business & Economy4 stories from 1 sources
Global stock markets have significantly declined, with oil prices surging above $100 a barrel due to escalating fears of supply disruptions through the Strait of Hormuz amid the ongoing US-Israeli conflict with Iran. Asian governments are moving to cap fuel prices in response to surging global oil costs, exacerbated by the US-Israel war with Iran. Bahrain's national oil company, Bapco Energies, has declared a force majeure on its operations following an Iranian drone attack on its refinery early Monday morning, resulting in civilian injuries. G7 nations are convening an emergency meeting to address the economic fallout from the escalating conflict, which has sent oil prices soaring and stock markets plummeting.