Rolling coverage of the latest economic and financial news
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Trump says UK is protected from tariffs ‘because I like them’ as trade deal is signed off
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Iran and Israel crisis: what does it mean for the price of oil?
Global oil supply is set to increase “far” faster than demand in the coming years, the International Energy Agency has predicted.
In a new report, the IEA argues that oil markets are undergoing structural changes as the key drivers of supply and demand growth of the past 15 years start to fade.
This growth is set to be dominated by robust gains in natural gas liquids (NGLs) and other non-crude liquids. The strategic shift towards higher non-crude capacity is driven by strong global demand for petrochemical feedstocks and the development of liquid‑rich gas resources.
UK’s FTSE 100: -46 points or -0.5% at 8828 points
German DAX: down 267 points or -1.1% at 23,430 points
French CAC: down 61 points or -0.8% at 7,680 points
After rallying on Monday on hopes that the Israel and Iran conflict would remain contained, stock markets have lurched lower again on Tuesday after US President Trump left early from the G-7 summit in Banff and told Iran to evacuate Tehran, signalling potential escalation of the conflict.
Trump said he left the summit early due to something “much bigger” than discussing a ceasefire. Israel and Iran meanwhile traded strikes for a fifth day. Reports have indicated that Tehran is willing to negotiate, but it takes two to tango and Israel won’t stop until it feels like it’s done enough.
Rolling coverage of the latest economic and financial newsTrump says UK is protected from tariffs ‘because I like them’ as trade deal is signed offIran and Israel crisis: what does it mean for the price of oil?Global oil supply is set to increase “far” faster than demand in the coming years, the International Energy Agency has predicted.In a new report, the IEA argues that oil markets are undergoing structural changes as the key drivers of supply and demand growth of the past 15 years start to fade.This growth is set to be dominated by robust gains in natural gas liquids (NGLs) and other non-crude liquids. The strategic shift towards higher non-crude capacity is driven by strong global demand for petrochemical feedstocks and the development of liquid‑rich gas resources.UK’s FTSE 100: -46 points or -0.5% at 8828 pointsGerman DAX: down 267 points or -1.1% at 23,430 pointsFrench CAC: down 61 points or -0.8% at 7,680 pointsAfter rallying on Monday on hopes that the Israel and Iran conflict would remain contained, stock markets have lurched lower again on Tuesday after US President Trump left early from the G-7 summit in Banff and told Iran to evacuate Tehran, signalling potential escalation of the conflict.Trump said he left the summit early due to something “much bigger” than discussing a ceasefire. Israel and Iran meanwhile traded strikes for a fifth day. Reports have indicated that Tehran is willing to negotiate, but it takes two to tango and Israel won’t stop until it feels like it’s done enough. Continue reading… Business, Economics, Stock markets, FTSE, Oil, Shipping industry Business | The Guardian
