Trump's statement sent oil lower, while equities jumped. Still, the recovery on Tuesday suggests lingering skepticism over Trump signaling a de-escalation.
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From sand to concrete, suppliers are bringing in "emergency fuel levies" as petrol prices soar due to the war in the Middle East. Major companies that supply pipes for plumbing are even warning of shortages.
Asia-Pacific markets tumbled Monday as investors weighed escalating tensions in the Middle East after the U.S. and Iran threatened to intensify military hostilities.
PM Narendra Modi said the Iran war is straining supply chains and trade routes, but stressed India's economic fundamentals remain strong.
The IEA’s Fatih Birol warned that damage to energy infrastructure across the Middle East would take some time to repair. Grouped from 2 articles across 2 sources.
Oil prices traded higher on Tuesday, with international benchmark Brent crude climbing back above $100 per barrel.
The ASX 200 has fallen sharply to begin the new week after the escalating Middle East war led Wall Street to tumble and oil prices to keep rising. Follow the day's events from our business reporters on the ABC News…