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The United States carried out fresh air strikes on Iran, as President Trump warned of retaliation following the deaths of American soldiers in recent attacks. The strikes mark the latest escalation in the weeks-long conflict.
Copper futures slipped on Monday as supply risks in Chile and Peru, combined with shifting Chinese demand, tested the metal's energy-transition narrative. Markets are closely watching production disruptions in the two countries.
Oil prices gave back early gains on Monday after Iran said talks with the United States could be pursued based on its national interests, even as American forces carried out a ninth consecutive night of strikes on Iranian targets. Traders read the remarks as a possible opening for de-escalation despite the ongoing military campaign.
The United States launched a ninth consecutive night of strikes against Iran, escalating a campaign aimed at destroying Tehran's ability to disrupt shipping through the Strait of Hormuz. American military casualties have climbed as the operation widens.
Oil prices rose on Sunday while US stock-index futures were little changed, as fighting between the United States and Iran intensified in the Middle East. Investors are awaiting a wave of major tech earnings due this week.
According to the latest Stats NZ figures, petrol and diesel prices in New Zealand fell between May and June. There was, however, a slight increase in food prices over the same period.
As tensions in the Middle East push oil prices higher, China's ability to flexibly adjust its imports is cushioning the shock to global markets. Analysts say Beijing is using its strategic reserves and purchase timing to manage price volatility.
Climate rights group Greenpeace Africa has called for a halt to a proposed $17bn oil refinery project by Africa's richest businessman, Aliko Dangote, in Kenya's coastal region, warning of environmental risks.
A widening fuel shortage across Russia is increasingly disrupting ordinary citizens' daily lives. A couple returning to the city of Vologda had to pass four petrol stations before finding one that actually had fuel.
As Iran tightens its grip on the Strait of Hormuz, the shockwave from Asia's energy panic is reshaping Latin America's strategic calculus overnight. From Guyana's oil output to Chile's lithium mines, the region is reassessing its role in global supply chains.
One seafarer was killed and three others injured in an attack on the crude oil tanker Al Bahyah off Oman's coast on Tuesday. A maritime risk firm's CEO said tankers transiting the Strait of Hormuz now face a "worst case scenario" as Iran escalates attacks on shipping.
International Energy Agency chief Fatih Birol said oil security remains a critical issue and that the world should be worried if the situation does not improve. His comments come as tension in the Strait of Hormuz continues.
Canadian Ambassador to Argentina Stewart Wheeler confirmed that both countries are interested in revamping an agreement originally signed in 1992 to boost mining investment. The talks are part of Argentina's broader push to attract foreign capital into its mining sector.
Oil prices rose Friday as investors weighed escalating hostilities between the United States and Iran, which threaten crude supply routed through the Strait of Hormuz. Traders are pricing in the risk of disruption to regional shipments.
The US military targeted an unladen oil tanker it said was heading for the key Iranian oil terminal on Kharg Island. The strike is part of a new naval blockade the US has imposed against Iran.
The United Nations says revenue flowing to warring factions in Sudan is being driven substantially by looted gold and exported gum arabic. The report highlights how these resources are helping prolong the conflict and are reshaping the regional economy.
Control of the waterway has become a key point of contention between the US and Iran, as a ceasefire deal falters. Tension in the strait is exposing the fragility of the understanding reached between the two countries.
US President Donald Trump's abrupt about-face over tolls he had imposed on ships passing through the Strait of Hormuz marked the latest contradictory turn in a conflict that has now lasted more than four months. The reversal raises questions about Washington's strategy for ending the war.
Brent crude oil prices rose again as the conflict in the Middle East reignited. Westpac economists say New Zealand motorists could soon be paying around $3.10 a litre for 91-octane petrol.