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Oil price today: Crude touches $113 per barrel after UAE oil storage facility hit
Oil prices surged Tuesday as Iranian-linked attacks and military clashes heightened fears of disruption in the Strait of Hormuz. Brent crude rose 6% to $114.44 a barrel, while WTI settled 4% higher at $106.42. The Fujairah Oil Industry Zone was struck by a drone, with Emirati officials blaming Iran.
Copper Drops as Iran and US Trade Fire in Gulf, Testing Truce
Copper fell after the US and Iran exchanged fire in the Persian Gulf on Monday, casting doubt over the fate of a ceasefire and raising concerns about further escalation in the conflict that’s upended global markets.
The Labor tax changes that every Aussie needs to know about
The Labor tax changes that every Aussie needs to know aboutBudget handed down next Tuesday READ MORE: Albanese set to announce cash splash for millions of AussiesBy NICHOLAS COMINO, POLITICAL REPORTER, AUSTRALIA Published: 02:31, 5 May 2026 | Updated: 02:31, 5 May 2026 e-mail View comments
MARK ALMOND: Tehran is suffering and the mullahs could run out of cash, but time is not on President's side
MARK ALMOND: Tehran is suffering and the mullahs could run out of cash, but time is not on President's sideREAD MORE: Trump threatens to 'blow Iran off face of the Earth'...By MARK ALMOND Published: 00:30, 5 May 2026 | Updated: 02:30, 5 May 2026 e-mail View comments
Poverty and technology fueling record levels of slavery in UK
Poverty and technology fueling record levels of slavery in UKJust nowShareSaveAdd as preferred on GoogleJamie WhiteheadReutersA supposed victim of modern slavery photographed in London in 2024 The rising cost of living and new technology have fueled record levels of exploitation in the UK, the independent anti-slavery commissioner (IASC) has warned. Over 23,000 potential victims of modern slavery were referred to the monitoring group in 2025, a 22% increase on the previous year and the highest n...
Dubai Airport recovery to accelerate in Q3 2026; DWC expansion plans on track, says CEO
Dubai: Recovery at Dubai International Airport is expected to accelerate in the third quarter of this year, with a surge in visitor numbers likely as travel demand returns, according to Dubai Airports’ chief executive.Paul Griffiths, CEO of Dubai Airports, said the coming months will mark a turning point following weeks of disruption that impacted flight capacity and schedules.“What I think will be the really, really strong growth quarter will be q3 when we start to see huge surges of visitors c...
Warning UK is at dire risk of rationing jet fuel due to shortages caused by Iran war
The extended shutdown of the Strait of Hormuz has created what Goldman Sachs describes as “extreme tightness” in Europe’s jet fuel supply, and the UK is seen as particularly vulnerable
Australia's public service to shed workers as redundancy rounds begin across departments
Australia's public service to shed workers as redundancy rounds begin across departments Multiple departments offering redundanciesLabor campaigned against APS job cutsREAD MORE: Infuriating reason Aussies are $2,000 worse off every yearBy NICHOLAS COMINO, POLITICAL REPORTER, AUSTRALIA Published: 01:24, 5 May 2026 | Updated: 01:24, 5 May 2026 e-mail View comments
Geothermal startup Fervo Energy to raise up to $1.3B in IPO
Geothermal startup Fervo Energy said Monday it hopes to raise up to $1.3 billion in its initial public offering. The company would be valued at up to $6.5 billion if shares sell at the top of its $21 to $24 price target. That’s more than twice what Fervo had reportedly been seeking earlier this year when it confidentially filed paperwork with the SEC to start the IPO process.
Treasury Secretary signals hope for gas prices as Trump attempts to break deadlock over Strait of Hormuz
Treasury Secretary signals hope for gas prices as Trump attempts to break deadlock over Strait of HormuzPolitics is fast. We're faster. Sign up to the DC Insider newsletter for a front-row seat to American politics... and unlock 3 FREE months of DailyMail+ HERE By STEPHEN M. LEPORE, US SENIOR REPORTER Published: 01:12, 5 May 2026 | Updated: 01:12, 5 May 2026 e-mail View comments
Emaar's Mohamed Alabbar reveals why he likes to hire Indians
Abu Dhabi: Mohamed Alabbar, Founder and Managing Director of Emaar Properties, said he likes to hire Indians because of their work ethic, using the remark to make a wider point about hard work, discipline and the kind of business culture that helps companies survive repeated crises.Get updated faster and for FREE: Download the Gulf News app now - simply click here.Speaking at the Make it in the Emirates summit in Abu Dhabi, Alabbar said companies that want to grow through disruption need teams t...
Trump’s World Liberty Financial venture sues crypto entrepreneur for defamation
Suit alleges that Hong Kong-based Justin Sun engaged in a campaign to ‘torch’ the company’s reputationSign up for the Breaking News US newsletter email World Liberty Financial, the crypto venture co-founded by Donald Trump and his sons, said on Monday it had filed a defamation lawsuit in Florida state court against the Hong Kong-based crypto entrepreneur Justin Sun, as a dispute escalates between the project and one of its most prominent backers.World Liberty posted a copy of its lawsuit on X in...
OPEC+ Hikes Oil Production Quotas Without Mentioning UAE Pull-Out
Saudi Arabia, Russia and five other OPEC+ countries increased their oil production quota on Sunday in an expected move aimed at demonstrating continuity at the cartel after the shock withdrawal of the United Arab Emirates.
Economic growth forecast for island of Ireland despite fuel supply turbulence
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Growth Kitchen eyes £100m in sales as unique concept taps into delivery boom
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US redirects 50 commercial vessels since beginning of Iran blockade — command
The US forces established the naval blockade of Iran on April 13
Oil prices skyrocket as Hormuz blockade leaves global markets braced for shock
Benchmark Brent crude futures surged early on Tuesday, jumping 5.8% to $114.44 a barrel — up $6.27 — as concerns over supply pressures reverberated across global markets. Murban crude also climbed, gaining 3.4% to $107.30 by about 7:35 am in Tokyo.On May 4, 2026, the Iranian regime launched a series of missile and drone attacks on the UAE, including energy infrastructure and a major oil port in Fujairah.UAE air defences intercept 12 missiles and 4 drones The assault caused fires and was seen as...
India, Canada kick off second round of free trade talks
New Delhi, May 5 (IANS) India and Canada began the second round of negotiations for a bilateral free trade agreement, with the two sides aiming to seal the deal by year-end. The five-day talks in New Delhi come on Monday ahead of the Commerce and Industry Minister Piyush Goyal's scheduled visit to Canada at the end of this month to accelerate the momentum of the economic engagement as the two countries target increasing bilateral trade to $50 billion by 2030. Trade, trust and security: Carney v...
Asian Stocks Set to Fall as Gulf Tensions Lift Oil: Markets Wrap
Stocks in Asia were set to fall Tuesday as a surge in oil prices dragged US equities and bonds lower, with escalating tensions around the Strait of Hormuz raising fresh fears about high energy prices and global inflation.
Albanese government set to announce cash splash for millions of Aussies - what you need to know
Albanese government set to announce cash splash for millions of Aussies - what you need to know Jim Chalmers set to announce multibillion-dollar cash splashREAD MORE: Infuriating reason Aussies are $2,000 worse off every yearBy KYLIE STEVENS, SENIOR BREAKING NEWS REPORTER, AUSTRALIA Published: 22:48, 4 May 2026 | Updated: 22:48, 4 May 2026 e-mail View comments