Korean Tanker Transits Alternative Red Sea Route For First Time
South Korea successfully sent a Korean‑flagged oil tanker through the Red Sea, marking the first such transit since the Strait of Hormuz was effectively closed after Iran’s retaliation to U.S.-Israeli strikes. The move is part of Seoul’s broader strategy to secure crude via alternative routes, including five ships dispatched to Saudi Arabia’s Yanbu port. President Lee Jae‑Myung praised the operation as a valuable achievement for national energy security. Officials say more than 270 million barrels have been sourced through non‑Hormuz pathways, covering roughly three months of demand.
Japan Vows $10bn to Help Southeast Asia Procure Oil Amid Iran War
Japan announced a $10 billion (≈¥1.6 trillion) “Power Asia” initiative to help Southeast Asian nations procure crude oil amid the Iran‑related conflict that has spiked global prices. Prime Minister Sanae Takaichi said the funding, channelled through state‑backed banks such as JBIC and...
Vance Flies Out After Talks With Iran Fail, Saudis Restore Pipeline
U.S. Vice President JD Vance left Islamabad after 21 hours of talks with Iran, delivering what he called the United States’ final and best offer. Washington’s proposal demanded a firm Iranian commitment not to develop a nuclear weapon, a condition...
Energy Crisis From Iran War to Fuel Renewables Boom, IEA Says
The International Energy Agency warns that the war‑driven blockade of the Strait of Hormuz has sparked the world’s most severe energy crisis since the 1970s. IEA chief Fatih Birol says the disruption will reshape the global energy architecture, accelerating renewables, nuclear...
Asian Markets Jump, Oil Plunges on News of Iran-US Ceasefire
The United States and Iran agreed to a temporary cease‑fire, reopening the Strait of Hormuz, which triggered a sharp market reversal on Wednesday. Oil benchmarks tumbled about 15% to just under $100 a barrel, while Asian equities surged—Nikkei up 5.4%...
Australia in Energy Security Deal With China, as War Rages in Iran
Australia has opened high‑level talks with China to secure refined fuel supplies as the US‑Israeli conflict in Iran pushes oil prices higher. Prime Minister Anthony Albanese and Premier Li Qiang agreed to boost regional energy security and seek an exemption...
Nexperia’s China Unit ‘Nears Fully Local Production’ of Chips
Nexperia’s China unit is close to achieving full local chip production, having shifted from European wafer imports after Dutch restrictions. The plant in Dongguan and a new wafer fab in Shanghai are operating at 60‑70% capacity and aim to reach...
Another Two India-Bound LPG Tankers Cross Strait of Hormuz
Iran has allowed two additional Indian‑flagged LPG tankers, BW TYR and BW ELM, to transit the Strait of Hormuz, carrying roughly 94,000 tonnes of cargo toward Mumbai and New Mangalore. The move follows Tehran’s pledge to let “non‑hostile” vessels pass...
Oil Rises, Asian Markets Sink as Middle East War Broadens
Oil prices surged on Monday as Brent crude briefly topped $117 a barrel and U.S. crude hovered around $102, driven by escalating conflict in the Middle East. Iran’s attacks on aluminium smelters in Bahrain and the UAE pushed metal prices...
ByteDance Rolls Out Seedance 2.0, as OpenAI Scraps Sora
ByteDance unveiled Seedance 2.0, a text‑to‑video model that produces near‑Hollywood‑quality clips, prompting immediate backlash from major studios over potential copyright infringement. The company paused its global rollout while expanding the service in Africa, Latin America, the Middle East, and Southeast...
Oil Falls, Asian Markets Rally as News of US Peace Plan Emerges
The United States delivered a 15‑point peace proposal to Iran via Pakistan, prompting Tehran to announce safe passage for non‑hostile tankers through the Strait of Hormuz. Oil benchmarks reacted sharply, with Brent sliding to $98 a barrel and WTI to...
Asian Stocks Sink After Oil Surges 5% and Energy Fears Rise
Oil prices surged over 5% on Thursday, with Brent breaching $113 per barrel after Iran struck Qatar's Ras Laffan LNG hub and threatened the South Pars field shared with Israel. The attacks reignited regional energy‑supply fears, sending European gas up more...
Oil Sinks, Asian Markets Rally, as Trump Says War Will End ‘Soon’
President Donald Trump’s claim that the U.S.–Israel‑Iran war will end soon helped reverse a sharp oil rally, pulling Brent crude down more than 7% to around $92 a barrel. Iran vowed to halt all Gulf oil exports, while attacks on...
China Unveils New Year Measures as Consumption Data Dips
Chinese local governments announced a suite of stimulus measures ahead of the longest Lunar New Year break, extending the holiday to nine days. The central government allocated 2.05 billion yuan in vouchers, red‑envelopes and subsidies to directly benefit consumers. January's consumer...