Global Economy

Duties for products made by certain larger companies will take effect in 120 days, while items from smaller manufacturers won't be hit for another 180 days, according to a White House statement.

Oil markets remain under pressure due to reduced flows from the Gulf, particularly through the Strait of Hormuz, a key transit route for global energy supplies.

"We don't need oil from the Hormuz strait. Those who import from there must take care of the passage," Trump said in an address from the White House.

In a televised address from the White House, Trump said US operations are close to achieving their objectives, even as he set a two- to three-week window for either a deal or further attacks.

Donald Trump Speech Live: He said Iran's navy is gone, its air force is in ruins, most of its leaders are dead, and its ability to launch missiles has been curtailed.

As the conflict evolves, an expert points to a shift in risks between key players, suggesting different paths ahead for countries involved in the crisis.

Global energy price surges and weakened growth forecasts have boosted the dollar as a safe haven, with traders holding over seven billion dollars in bullish derivative bets.

Oil prices fell below $102 after reports that President Trump may end the Iran conflict even if the Strait of Hormuz remains closed, following recent tanker attacks.

Stocks rose and oil prices fell after reports that President Trump is open to ending the US military campaign against Iran despite the Strait of Hormuz remaining closed.

Powell noted that tariffs typically have a one-time impact on inflation and said there is no evidence that the Federal Reserve's past bond-buying programmes significantly contributed to inflation.

Located at the southern tip of the Red Sea, this narrow passage connects the Red Sea to the Gulf of Aden and the Indian Ocean, making it a vital artery for global trade.

The reasons behind the improvement could be because Iranian jamming capabilities may have been reduced by US strikes or that the United Arab Emirates has stepped down its interference in light of fewer attacks by Tehran.

With one trading session still remaining in the month, the outflows could extend further. The previous record for the highest monthly exodus stood at Rs 94,017 crore in October 2024.

The contract, based on the S&P Global Energy (Platts) Dated Brent assessment, will be traded under the symbol BRCRUDEOIL

Analysts said the investigation would give China a legal framework to retaliate against any new US tariffs, after the Supreme Court struck down most of the duties imposed during US President Donald Trump's previous term.

Crude exports via Yanbu have now reached about 5 million barrels a day and the kingdom is also exporting 700,000 to 900,000 barrels a day of refined products

The US has been pushing for stricter rules on mandatory disclosures as part of the WTO reform proposal.

Little progress is expected on fisheries subsidies.

The two sides successfully concluded the third review of the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), the IMF said on Saturday.

"The war has to stop because the world economy cannot bear this for too long," foreign affairs expert Zaki Zaidi said.