46 resultsfor “What led to the increase in oil prices this week”
week](/news/2026/4/28/gulf-leaders-meet-in-saudi-arabia-for-first-time-since-start-of-war-on-iran) for their first in-person meeting since the outbreak of [the US–Israel war with Iran](/news/2026/3/18/iran-fires-missiles-drones-across-gulf-region-remains-in-war-crosshairs). Alongside security concerns, they also discussed expediting longstanding joint projects. Under the umbrella of the [Gulf
led to widespread fuel rationing, with Russian President Vladimir Putin now unable to mask the war’s economic effects. The Russian petrol shortages come amid other good news for Ukraine, which during the past week
prices have driven up the cost of items made with petrochemicals, everything from textiles to plastics. For some producers in China, costs have gone up 20%. China has enviable oil reserves and the lead
oil imports and two-thirds of its trade. That geography makes Great Nicobar a potentially valuable sentry for India, watching over the Strait of Malacca. “It is a great place to monitor all the traffic
led Tehran’s delegation at the Islamabad talks, also met Munir. Reza Amiri Moghadam, Iran’s ambassador to Pakistan, said at an event in Islamabad that Tehran would not consider any venue other than Pakistan
led “[ceasefire](/news/2026/6/4/israel-and-lebanon-agree-to-conditional-ceasefire)” announced jointly by Israel and Lebanon on June 4. Hours after those attacks, Iran launched missiles towards northern Israel in what Tehran described as retaliation for the Beirut attack. These were largely