Business

Crude oil prices rose again on Thursday as the ceasefire announced by US President Donald Trump and Iran shows signs of fragility. In this edition, we speak with Ilian Mihov, Professor of Economics at INSEAD, about whether the war and the resulting oil shock could trigger a global recession. He explains that supply shortages can affect economic activity more than price hikes and outlines the delicate calculations central banks will have to make.

Oil prices have plunged and stock markets soared after the announcement of a two-week ceasefire between the US and Iran. But regardless of whether the deal holds, the energy crisis unleashed by the war is far from over. Damage to infrastructure in the region means it could take years for oil and gas production to get back to pre-war levels. Meanwhile, global aviation group IATA says supplies of jet fuel will remain tight. 

A two-week ceasefire agreement between the United States and Iran on Wednesday led to a steep drop in oil prices and a rebound in Asian and European equities. In this edition, we see what the various stakeholders are saying the deal means for the future of the Hormuz Strait through which a fifth of the world's supply of oil and natural gas transits. And we see how Pakistan's adoption of solar power has partially protected it from the energy shock left in the wake of the war.

As Donald Trump threatened to wipe out an entire civilisation in Iran ahead of his latest deadline for Tehran to open up the Strait of Hormuz, Qatar's foreign ministry official warned that the world was nearing a point beyond which the war would be out of anyone's control. Oil markets continue to be volatile amid ongoing tensions, while physical prices refiners are paying are rising to record levels with premiums on crude with earlier delivery dates surging. 

Israeli airstrikes have hit two petrochemical plants in Iran's South Pars gas field complex.  It is the second time Israel has targeted the key energy complex since the war started.  The previous attack, on March 18, triggered retaliatory strikes by Iran on energy infrastructure across the region. We look at why the gas field is so important for Iran and the world. Plus, Pakistan has offered public transport to people to cushion the impact of the Middle Eastern energy crisis. 

As crude prices hover around the $110 per barrel mark on Monday morning, consumers worldwide are feeling the impact of the war in Iran and the closure of the Hormuz Strait when they head to the petrol pump. In China, where more than half of new car sales are for electric vehicles, that impact may be less pronounced, as France 24’s Bryan Quinn explains in his report. Also in this edition, "Super Mario Galaxy Movie" has achieved the best opening release of the year so far.

It has been a year since US President Donald Trump introduced sweeping new tariffs, reshaping the global trade landscape. After 12 months of upheaval and uncertainty, what is left of the so-called “Liberation Day” duties? Also in the show, soaring oil prices are driving a surge in car-pooling services in France.

Oil prices rose and stocks fell on Wednesday following US President Donald Trump’s speech in which he warned he would hit Iran “extremely hard” over the next two to three weeks. Meanwhile, Iran has reportedly begun collecting tolls from ships seeking safe passage through the Hormuz Strait. We’ll take a closer look at how this process is unfolding and whether it could be formalised. Also in this edition, SpaceX has filed for what could become the world’s largest ever Initial Public Offering.

The average price of regular gasoline in the United States has topped $4 a gallon for the first time since 2022, as the war in Iran continues to disrupt global energy supplies. Meanwhile, inflation in the eurozone rose to 2.5% in March, surpassing the European Central Bank’s target amid rising energy costs. And in Egypt, shops and restaurants are being forced to close early under government-imposed energy-saving measures introduced in response to surging fuel prices.

Oil prices searched for direction on Tuesday amid conflicting events related to the Iran war. While US President Donald Trump's threats that the US would obliterate Iranian energy infrastructure if the Strait of Hormuz remained closed led to an increase in prices, a later report saying Trump is seeking an end to the war brought them down. Also in this edition: inflation in France ticks up because of higher energy prices and Australia threatens legal action against social media giants.