World Economy
Last update : 04 July 2026, Saturday / 15:53
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Latest World Economy News
Precious metals tumble as Fed rate hike fears strengthen US dollar
Precious metals declined sharply in the first half as expectations of Federal Reserve rate hikes—driven by inflation from the US-Israel-Iran war—sent investors fleeing to dollar assets, with gold dropping 7.1% and silver plunging 17.4% as hawkish policy stoked selling pressure across commodity markets.
03 July 2026
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Brent climbs above $72 as US-Iran pause eases Hormuz fears
International benchmark Brent crude rose above $72 per barrel on Monday, rebounding from four-month lows as renewed US-Iran tensions around the Strait of Hormuz revived supply concerns in global energy markets, though price gains were limited by an agreement to halt strikes ahead of talks in Doha.
29 June 2026
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UN says 6.76M people may be affected by Venezuela quakes
The UN's International Organization for Migration warned on Saturday that up to 6.76 million people could be affected by Wednesday's devastating earthquakes in Venezuela, citing preliminary estimates that include 2 million residents in Caracas alone as relief efforts scale up.
28 June 2026
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Dollar index hits 13-month high on hawkish Fed, Middle East strain
The dollar index climbed to a 13-month high on Friday, driven by hawkish signals from the US Federal Reserve and renewed uncertainty over Middle East peace efforts, as money markets priced in a likely rate hike and investors sought safety following reports that Israel targeted Lebanon and Iran withdrew from negotiations.
19 June 2026
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Critical minerals reshape trade as supply risks mount: UNCTAD
UNCTAD said on Friday that surging demand for electric vehicles and renewable energy is fundamentally reshaping global trade flows around critical minerals, warning that highly concentrated supply chains and a wave of new export restrictions risk fragmenting international markets and raising costs.
12 June 2026
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OpenAI weighs price cuts to compete with Anthropic: WSJ
OpenAI is exploring steep reductions to artificial intelligence token pricing to undercut rival Anthropic and retain enterprise customers, as both firms confront mounting cost pressures and advance toward potential public offerings.
11 June 2026
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Oil prices tumble over 5% as Israel and Iran halt mutual attacks
International benchmark Brent crude fell sharply on Tuesday after Israeli Prime Minister Benjamin Netanyahu and Iranian officials signaled a temporary halt to mutual strikes, easing immediate concerns over supply disruptions in the Middle East while traders monitored whether the ceasefire would hold.
09 June 2026
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Global markets add $4.1 trillion on AI boom despite Middle East war
Global equity markets prioritized artificial intelligence growth over Middle East geopolitical risks during the past 100 days, adding $4.1 trillion in total value and pushing global valuations to $161.1 trillion despite ongoing military hostilities between the US, Israel and Iran.
09 June 2026
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Trump says Fed chair should 'do whatever he wants,' criticizes rate hikes
US President Donald Trump on Sunday praised newly appointed Federal Reserve Chairman Kevin Warsh and endorsed his autonomy in setting monetary policy, while warning that any move to raise interest rates would unfairly penalize recent economic gains and undermine market confidence.
08 June 2026
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Rosneft chief says US oil firms gain from Hormuz crisis
Rosneft CEO Igor Sechin said Saturday that US oil companies have gained "noncompetitive advantages" from the Strait of Hormuz crisis, citing estimates that American firms could earn over $60 billion in additional profit next year while noting that China's energy planning leaves it better prepared for disruptions than other nations.
07 June 2026
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Gold climbs as Trump cites progress on Hormuz peace deal
Gold prices advanced more than 1% in early trading on Monday after US President Donald Trump said Washington and Tehran had held extensive negotiations on a memorandum of understanding to reopen the Strait of Hormuz, raising hopes for a de-escalation in the Middle East.
25 May 2026
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Primary forest losses threaten global climate fight
Doganay Tolunay, head of the Forest Engineering Department at Istanbul University-Cerrahpasa, warned that destruction of primary forests is depleting global carbon stocks, noting that 4.3 million hectares of tropical woodlands disappeared last year despite a 36% decline in the pace of losses.
17 May 2026
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US energy chief: Hormuz could reopen by summer
US Energy Secretary Chris Wright said on Friday that the Strait of Hormuz could reopen by summer's end at the latest, warning that the US military stands ready to intervene if Iran continues holding the world economy hostage through the vital chokepoint even as he signaled that a diplomatic breakthrough could emerge within days.
16 May 2026
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Silver tumbles 6.5% as US inflation resurgence rattles markets
Silver prices plummeted more than 6.5% to $77.8 per ounce on Friday, extending losses for a second consecutive session as unexpectedly strong US inflation data drove investors away from non-yielding assets and prompted markets to price out the possibility of Federal Reserve rate cuts this year.
15 May 2026
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Trump administration seeks to maintain 10% global tariffs during appeal
The Trump administration has asked a federal trade court to pause a ruling that invalidated President Donald Trump's 10% global tariffs, warning that thousands of importers could challenge the levies if the decision takes effect more broadly.
12 May 2026
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Australia stockpiles jet fuel, diesel over Middle East supply risks
Canberra has initiated emergency measures to reinforce national energy security through substantial fuel acquisitions. The Australian government confirmed securing millions of liters of aviation and diesel supplies destined for strategic port cities. These procurements aim to insulate the nation's transport and logistics infrastructure from escalating volatility in global petroleum markets triggered by ongoing geopolitical instability across the Middle East region.
01 May 2026
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Brent crude hits $120 as Trump maintains Iran naval blockade
Global oil markets surged to multi-year highs Wednesday as Brent crude futures breached $120 per barrel, driven by escalating tensions in the Middle East. The price spike reflects growing anxiety over Washington's decision to maintain a naval blockade on Iran, effectively sealing the strategic Strait of Hormuz.
30 April 2026
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UN: Strait of Hormuz maritime traffic plummets 95% amid Iran conflict
Maritime transit through the strategic Strait of Hormuz has collapsed by over ninety-five percent since the outbreak of hostilities between Washington, Tel Aviv and Tehran, United Nations officials confirmed Tuesday. The dramatic reduction in vessel movements through the critical energy corridor has triggered significant volatility in global oil markets and food commodity prices.
29 April 2026
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Russian Black Sea refinery engulfed in flames after drone assault
Regional governor Veniamin Kondratyev confirmed a major conflagration at the Tuapse oil processing facility following an unmanned aerial vehicle strike. Emergency crews have mobilized significant resources to contain the blaze near residential areas, while authorities relocate local inhabitants to temporary shelters amid ongoing military tensions in the Black Sea region.
28 April 2026
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