Latest news with #globalTrade
Argaam
11 hours ago
- Business
- Argaam
Oil could surge to $90 if Strait of Hormuz closed: Citigroup
Brent crude could jump to around $90 a barrel if the Strait of Hormuz is shut, according to Citigroup Inc. 'Any closure of the Strait could lead to a sharp price spike,' analysts including Anthony Yuen and Eric Lee wrote in a note, citing the bank's current bullish case scenario. This is due to the strategic importance of the Strait of Hormuz, which accounted for more than a quarter of global seaborne oil trade last year and in the first quarter of 2025. Any disruption to Iranian crude exports could have a smaller price impact than expected, according to Citigroup. The country's shipments have been falling and Chinese refineries are buying less, the bank said.
Yahoo
a day ago
- Business
- Yahoo
Israel-Iran war is jamming ship signals, Shell warns
The boss of Shell has warned that oil tankers are having their signals jammed when they pass through the Strait of Hormuz as the conflict escalates between Israel and Iran. Wael Sawan, the chief executive of the FTSE 100 oil giant, said it had drawn up contingency plans in case the war in the Middle East leads to major upheaval in the crucial shipping route, which carries around a fifth of the world's oil. He raised concerns about the disruption to shipping signals in the area, which has affected nearly 1,000 ships in the Gulf, according to Windward, the shipping analysts. A collision involving tankers south of the Strait of Hormuz occurred on Tuesday, with both vessels catching fire. Mr Sawan said: 'What is particularly challenging right now is some of the jamming that's happening.' He told the Japan Energy Summit and Exhibition in Tokyo that Shell is 'being very careful' with shipping in the Middle East, adding that any blockage of the trade route risked triggering a substantial shock to the global economy. Around 19m barrels a day pass through the strait separating the Persian Gulf from the Gulf of Oman and the Indian Ocean beyond, which is just 21 nautical miles wide at its narrowest point. The United States has previously called the waterway 'the world's most important choke point'. Mr Sawan said: 'If that artery is blocked, for whatever reason, it has a huge impact on global trade. We have plans in the eventuality that things deteriorate.' Oil prices have surged from around $60 a barrel at the start of this month to more than $77 a barrel on Thursday, over concerns that supplies could be disrupted by the upheaval in the Middle East. European wholesale gas prices have also climbed by nearly 10pc since the outbreak of the war between Israel and Iran, which has entered its seventh day. White House officials said on Thursday that Donald Trump has approved a plan to attack Iran but is yet to give a final order. The US president gave private instructions to military chiefs in the situation room inside the White House on Wednesday, according to reports. Mr Trump said on Wednesday: 'You don't know that I'm going to even do it. I may do it. I may not do it. Nobody knows what I'm going to do. I can tell you this: Iran's got a lot of trouble, and they want to negotiate.' Gao Jian, an analyst at Qisheng Futures, said: 'The geopolitical situation remains highly tense, with no signs of easing.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
The Guardian
a day ago
- Business
- The Guardian
Shell boss warns of ‘huge impact on trade' if Israel-Iran conflict escalates
An escalation in the Middle East conflict could have a 'huge impact on global trade', the boss of the oil company Shell has warned, as Donald Trump suggested the US could enter the air war between Israel and Iran. Shell, one of the biggest traders of oil and natural gas in the world, said it had contingency plans in case the conflict disrupted flows from the region. There is a risk that a blockage in the strait of Hormuz could shock the energy market. Speaking at an energy conference in Tokyo, Wael Sawan, the chief executive of Shell, said: 'If that artery is blocked, for whatever reason, it has a huge impact on global trade… We have plans in the eventuality that things deteriorate.' About a quarter of the world's oil trade passes through the strait of Hormuz, which links the Persian Gulf to the Indian Ocean. Oil prices have risen over the last week as the conflict has escalated. On Thursday, Brent crude rose nearly 1% to more than $77 (£57) a barrel. 'What is particularly challenging right now is some of the jamming that's happening,' said Sawan, referring to the interference in navigation signals in and around the Persian Gulf. The growing risk in the area has also more than doubled the price to charter large oil tankers through the strait of Hormuz, according to figures from the data and analytics firm Clarksons Research, reported by the Financial Times. The daily price to charter a very large crude carrier, which is capable of carrying 2m barrels of oil, from the Gulf to China rose from $19,998 two days before Israel's attack on Iran last week to $47,609 on Wednesday. The sharp rise in costs far outpaces the 12% increase in the wider Baltic Dirty Tanker index over the same period. The index tracks crude oil tanker rates across the world. Meanwhile, global stocks slipped slightly on Thursday, as investors bought assets that are typically more stable during volatile periods such as gold and the US dollar. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The precious metal ticked up 0.1% to $3,372.36 an ounce, while the dollar rose against the euro, as well as the Australian and New Zealand dollars. Trump said on Wednesday he had not yet made a final decision about the US entering the war. 'I may do it, I may not do it. I mean, nobody knows what I'm going to do,' the president said. Kyle Rodda, a senior financial markets analyst at said: 'Market participants remain edgy and uncertain. Speculation remains rife – fed probably strategically by the Trump administration – that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran.' 'Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth,' Rodda added.
Yahoo
2 days ago
- Business
- Yahoo
Bath & Body (BBWI) Works Jumps 5% on Improving Global Trade
Bath & Body Works, Inc. (NYSE:BBWI) is one of the . Bath & Body Works rallied for a second day on Tuesday, adding 5.03 percent to close at $27.13 apiece as investors continued to load up positions while digesting the developments on the global trade landscape. In particular, the positive sentiment appears to be supported by the improving relationship between the US and China, having agreed on a new trade deal last week. A female customer browsing a variety of body care products in a retail store. Earlier this year, Bath & Body Works, Inc. (NYSE:BBWI) forecast annual sales largely below its expectations with uncertainties in consumer spending due to the global trade tensions. Late last month, Bath & Body Works, Inc. (NYSE:BBWI) earned a lower price target from Morgan Stanley, but kept a 'buy' recommendation. According to Morgan Stanley, Bath & Body Works, Inc. (NYSE:BBWI) remains under pressure from expectations of lesser insulation from tariffs and deceleration in quarter-on-quarter sales, among others, but holds the potential for future growth. While we acknowledge the potential of BBWI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Travel Weekly
3 days ago
- Business
- Travel Weekly
Business travel in the age of the Trump tariffs
Charlene Leiss is president of Flight Centre Travel Group, Americas, where she oversees a vast network of companies that includes flagship business travel divisions Corporate Traveler and FCM Travel. We at Flight Centre Travel Group acknowledge that while President Trump's trade tariffs pose challenges, they also highlight the necessity of sustained global business travel and the opportunities they give for businesses big and small. The long history of economic growth and trade goes hand in hand with the movement of people across borders. For businesses, the answer lies in maintaining robust travel strategies to explore new markets, build and grow international relationships and negotiate mutually beneficial agreements. The travel management industry is well aware of the apprehensions among both international traders and companies due to the recent tariffs introduced by President Trump. These tariffs, aimed at protecting domestic industries, potentially and inadvertently create barriers to international trade and cooperation. But business travel worldwide is the key to mitigating these barriers and unlocking new markets. By enabling direct engagement with foreign partners, businesses can navigate many tariff complexities, explore alternative sourcing options and diversify their market presence. Flourishing markets in Southeast Asia and Africa, for example, can now be seen as opportunity regions for U.S. corporations, especially as American businesses currently face heightened tariffs with Chinese goods. But through strategic business travel, companies large and small can identify new suppliers in countries less affected by the tariffs, building new trade routes that benefit both the American economy and emerging economies in these regions. Companies looking to survive and thrive in the new trade tariff world may well respond to the uncertainty by forging new relationships and investing in corporate travel to offset challenges in the U.S., as managed travel becomes a key cog in the machine of driving new market opportunities and collaboration across the globe. Business travel has played a pivotal role in economic development for centuries, with the only constant being change and opportunity - President Trump's new global tariffs are no different and offers both - where international borders can be lucrative new avenues rather than obstacles. The historical need for corporate travel -- and the more recent requirement for managed business travel -- is mirrored today by those globetrotting to not only win new business and bid for contracts but to build relationships, negotiate contracts, and attend meetings, events, and conferences. Today, the link between business travel and economic growth is undeniable. In an age where AI is playing an ever-increasing role in multiple industries, the connections people are able to create through in-person interactions can't be understated. Who would sign a multimillion-dollar deal over a Zoom or Teams meeting? Business travel opens a gateway to understanding the local business environment, while ensuring compliance with regional regulations and tailoring products to meet local demands. As a travel management company, we are committed to supporting enterprises in navigating this complex landscape, ensuring that business travel continues to be a formidable driver of economic success and global cooperation and providing the gateway to thrive in 2025. _______________________________ Travel Weekly accepts opinion pieces on subjects of interest to the travel industry and, most importantly, to travel advisors. Forums should be 550 words and must be exclusive to Travel Weekly; no part of the writing can have been published anywhere else. Forums must not be self-promotional and should be submitted with the understanding that Travel Weekly reserves the right to edit the content for length, style, spelling, clarity, structure, etc. Submissions, along with a high-resolution headshot and a short bio, should be emailed to editor in chief Arnie Weissmann and deputy managing editor Gerry Bourbeau.
