Iran war
Houthis claim attacks on Saudi Arabian oil facility and Yemeni port, and other Mideast news
Yemen’s Houthis said they attacked an oil facility on Sunday in southwestern Saudi Arabia, the latest attack by the Iranian-backed rebels on the kingdom. They also attacked a crucial port on the Red Sea, further escalating the conflict over strategic waterways. Meanwhile, Iran has made new demands about the restart of negotiations and the reopening […]
Inflation likely reached 3-year high last month as Iran war spikes gas prices
WASHINGTON | Consumer prices probably jumped in May for the third straight month, heightening concerns for the inflation fighters at the Federal Reserve and underscoring the threat that rising costs pose for the Trump administration as midterm elections near. Inflation is expected to reach 4.2% in May from a year earlier when the Labor Department […]
Brass bands in Beijing make way for sticker shock at home as Trump returns to escalating inflation
WASHINGTON | President Donald Trump returned from the spectacle of a Chinese state visit to a less than welcoming U.S. economy — with the military band and garden tour in Beijing giving way to pressure over how to fix America’s escalating inflation rate. Consumer inflation in the United States increased to 3.8% annually in April, […]
Shipping industry fears fuel shortages as Iran war squeezes bunker fuel supply
BANGKOK | Ship operators rely on a sludgelike substance known as bunker fuel to keep vessels running. The Iran war ‘s closure of the Strait of Hormuz has choked off the supply of this fuel that powers the global maritime industry and its largest refueling hub in Asia. Bunker fuel is a literal bottom of […]