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Yemen's Houthi movement announced it would impose a maritime embargo on Saudi Arabia, raising fresh concerns about shipping safety in the Red Sea region. The move risks further inflaming tensions in an already volatile waterway.
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.
West African nations have signed off on a $25 billion mega gas-pipeline project intended to connect the region to European markets. The plan aims to significantly expand the region's energy export capacity.
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.
New Zealand's inflation rate is expected to hit a two-year high, driven largely by a spike in fuel prices caused by the Middle East war. Economists say the surge stems mainly from volatility in global energy markets.
Algeria and Germany agreed to deepen energy ties during President Abdelmadjid Tebboune's recent visit to Berlin, as Algiers positions itself as a bigger gas supplier to Europe. The push comes even as Algeria grapples with tensions over Western Sahara and instability in the Sahel.
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.
New Zealand's NZ First party said it would explore deep-sea basins around the country for oil and gas if elected, arguing the move would shore up fuel security. Greenpeace says the billion-dollar pledge would be better spent on renewable energy.
The EU Commission has proposed weakening Europe's emissions trading system, a scheme that became a global blueprint for carbon pricing and cutting CO2. The move has reopened debate over how effective the system has been and where it falls short.
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.
Kuwait and Bahrain report several rounds of Iranian missile and drone attacks, with sirens reportedly sounding in Jordan as well. The strikes ignited a fire at a power plant in Kuwait.
Israel is set to receive more US aerial refueling planes as Iranian attacks intensify, Israeli officials say. The move is intended to sustain the pace of regional air operations amid the ongoing confrontation.
Russia launched strikes on Kyiv on Sunday that killed one person and wounded several others. The attack came a day after a Ukrainian drone strike hit e-commerce warehouses near Moscow, in the latest exchange of the war.
US Central Command says it struck Iran's coastal surveillance and air-defense facilities, a day after an Iranian strike on Jordan killed two American service members. The exchange marks a further escalation in the days-long confrontation between Washington and Tehran.
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.
Communities across the United States staged 142 separate protests in 42 states against the rapid expansion of AI data centers. The demonstrations reflect mounting backlash over energy and water use, and land consumption.
New Zealand holds about a month's supply of petrol and jet fuel. As a new bulk fuel reserve is set to arrive in Australia, debate is growing over whether New Zealand should follow suit to protect its own access.
Explosions were also reported on Qeshm Island, while in Hormozgan province air strikes hit two bridges and a tunnel. The reciprocal attacks are directly affecting civilian infrastructure in both Iran and Kuwait, deepening the war's humanitarian toll.
The deals include rebuilding the long-defunct Iraq-Syria crude oil pipeline, which could offer a route bypassing the Strait of Hormuz. The visit is part of Iraq's effort to deepen economic ties with the US amid heightened regional tensions.
Ukrainian President Volodymyr Zelenskyy said the targeted facilities were used to supply sanctioned components for drone production and navigation equipment. The strike marks a new phase of the war reaching deep into Russian territory.
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.
US Central Command says it continues to enforce a naval blockade against Iran, while Kuwait and Bahrain say they have intercepted more Iranian projectiles. The announcement caps another night of strikes amid growing disruption to Gulf shipping.
A tanker was hijacked off the coast of Yemen by suspected Somali pirates, marking the second such incident in three months. The region has also seen several unsuccessful attacks, suggesting piracy is making a comeback.
The US extended its air campaign against Iranian targets into a seventh consecutive night. Iran retaliated against US allies in the region, with Kuwait reporting that a power and water plant had been hit.
Geopolitical disruptions, including the Iran war and rising tariffs, have begun redrawing global shipping routes. Industry watchers say the risks could push more carriers toward alternative hubs, including Singapore.
Global stocks closed the week lower as a sharp sell-off in semiconductor shares weighed on markets. Oil prices, meanwhile, headed for a weekly gain as hostilities in the Gulf intensified.
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.
New satellite imagery shows visible damage inside Iran's Bushehr nuclear power plant, the country's largest, from strikes carried out between 7 and 12 July. The images add to evidence of expanding military targeting of Iranian nuclear infrastructure amid the ongoing conflict.
New Zealand's wholesale electricity prices have fallen to some of their lowest winter levels in more than a decade, according to the Electricity Retailers and Generators Association. Chief executive Bridget Abernethy called the trend a positive signal for the country's shift away from fossil fuels.
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.
The United States carried out a sixth consecutive night of strikes on Iran, with Iranian sources saying civilian infrastructure was hit. The prolonged confrontation is deepening concern about a wider regional war.
Reserve Bank of India governor Sanjay Malhotra identified the Iran war's pressure on oil prices and the trajectory of this year's monsoon rains as the two key risks facing India's economy. Malhotra said both factors will shape the outlook for inflation and growth.
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.
Water experts are raising concerns that Queensland's push to fast-track approvals for oil exploration in the Taroom Trough lacks crucial detail on potential impacts. The region is at the center of a resource rush after significant oil deposits were identified beneath agricultural land. Regulators have yet to fully address how the drilling could affect groundwater supplies.
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.
Explosions were heard across Iran overnight, shortly after neighboring Gulf states began reporting attacks of their own. The development signals a new and more intense phase in the confrontation between the United States and Iran.
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.
Iran carried out fresh strikes on targets in the Gulf even as Foreign Minister Abbas Araghchi visited Qatar to pay respects following the death of the Father Emir, Sheikh Hamad bin Khalifa Al Thani. The developments show military and diplomatic activity continuing in parallel.
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.
Iran said its ceasefire agreement with the United States is no longer valid after Washington launched a new wave of attacks Wednesday night, amid reported explosions in Bandar Abbas, Chabahar and Ahvaz. Tehran described the fighting as an 'existential 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.
The Trump administration has threatened a 100% tariff on India if it continues purchasing Russian oil. The move risks straining trade and diplomatic relations between the two countries.
European Commission chief Ursula von der Leyen announced a 'drone deal' with Ukraine to boost joint production of the key battlefield technology. Ukraine has already signed similar agreements with individual EU countries and Gulf nations.