Hong Kong government announces HK$1.8 billion subsidy for diesel to support transport sector amid rising oil prices
The Hong Kong government has introduced a robust financial relief measure aimed at alleviating the financial strain on the transport sector, which is grappling with unprecedented oil prices. Announced yesterday, the initiative involves a HK$3-per-litre (approximately 38 US cents) subsidy for diesel, totaling an investment of HK$1.8 billion (about US$229.8 million). This measure is intended to counteract the repercussions of escalating oil prices, partly resulting from the ongoing Middle East conflict. Industry leaders and lawmakers have expressed immediate concerns regarding the potential misuse of this subsidy by petroleum companies. Stanley Tandon Lal Chaing, chairman of the Lok Ma Chau-Hong Kong... [Continue Reading]
360LiveNews | 10 Apr 2026 06:12
Shipping operations in Strait of Hormuz remain disrupted despite US-Iran ceasefire agreement
Shipping operations in the critically important Strait of Hormuz remain severely disrupted following a ceasefire agreement between the United States and Iran, which was announced on Tuesday. The agreement intended to establish a temporary two-week pause in the ongoing hostilities between the two nations but has not resulted in the expected increase in maritime traffic. Reports indicate that only a few vessels have successfully transited the strait since the ceasefire was declared, raising concerns over one of the most significant energy supply disruptions the world has faced. This situation has implications for global oil markets, supply chains, and regional stability.... [Continue Reading]
360LiveNews | 10 Apr 2026 03:31
Operational activities suspended at Saudi energy facilities following drone and missile attacks, resulting in one death and seven injuries
In recent developments, operational activities have been suspended at several energy facilities across Saudi Arabia due to a series of drone and missile attacks. Reports from the Saudi Press Agency, citing an official from the Ministry of Energy, indicate that these attacks have significantly impacted the country’s energy sector, resulting in the loss of one life and injuries to seven others as of Thursday evening. The strikes targeted vital infrastructure in key regions including Riyadh, the Eastern Province, and Yanbu Industrial City. The assault has led to a substantial reduction in Saudi Arabia's oil production capacity, decreasing by approximately 600,000... [Continue Reading]
360LiveNews | 09 Apr 2026 21:08
Ceasefire between the United States and Iran highlights shifting regional power dynamics in the Middle East
Recent developments have brought a fragile ceasefire between the United States and Iran into focus, marking a significant pause in hostilities that have raged for weeks. The outcome of these tensions has not only heightened the stakes in the Middle East but has also sidelined Israel's strategic objectives, leading to a complex interplay of regional power dynamics. U.S. President Donald Trump's administration has faced criticism for its handling of the situation, particularly regarding contradictory statements that have left many confused about the future of the Strait of Hormuz, the world's most crucial oil shipping lane. On 9 April, a press... [Continue Reading]
360LiveNews | 09 Apr 2026 19:22
Albanese Discusses Australia's Fuel Supply with Singapore's Prime Minister Amid Global Oil Market Disruptions
Prime Minister Anthony Albanese is currently in Singapore, engaging in discussions with his counterpart, Prime Minister Lawrence Wong, regarding Australia's fuel supply amidst ongoing disruptions in the global oil market. Singapore is a critical refining hub, supplying about half of Australia’s petrol. However, significant disruptions are affecting fuel production in Singapore due to the ongoing tensions in the Strait of Hormuz, which have halted the flow of crude oil necessary for the city-state's refineries. Reports confirm that for over a month, the Strait of Hormuz has effectively been closed, impacting the delivery of approximately two-thirds of the crude oil that... [Continue Reading]
360LiveNews | 09 Apr 2026 19:16
Major US airlines increase baggage fees amid rising oil prices linked to conflict in the Middle East
Major US airlines are raising their baggage fees as a response to soaring oil prices resulting from the ongoing conflict between the US and Israel in Iran, which has significantly impacted the aviation industry's operational costs. As the situation persists, carriers Delta Air Lines, United Airlines, and JetBlue Airways have enacted these fee increases, leading to higher costs for travelers. This decision comes in tandem with Delta's announcement of an anticipated pretax profit of approximately $1 billion for the quarter ending in June. On Tuesday, Delta officially revealed its increased baggage fee structure, which will be effective starting Wednesday. Under... [Continue Reading]
360LiveNews | 08 Apr 2026 15:13
Iran and the US agree to a conditional two-week ceasefire ahead of peace negotiations in Islamabad
Following a turbulent period marked by escalating hostilities, Iran and the United States have agreed to a conditional two-week ceasefire. This significant breakthrough was announced early Wednesday, just hours ahead of a deadline set by US President Donald Trump, who had previously threatened severe repercussions if diplomatic efforts failed to yield results. The ceasefire allows for peace negotiations which are expected to commence in Islamabad, Pakistan, on Friday. The agreement includes provisions for safe passage through the critical Strait of Hormuz, through which approximately 20 percent of the globe's oil reserves transit. Iran's Foreign Minister confirmed that the ceasefire would... [Continue Reading]
360LiveNews | 08 Apr 2026 09:10
Europe Faces Renewed Energy Crisis Amid US-Israeli Tensions with Iran
Europe is currently grappling with a renewed energy crisis, marking the second energy shock within a span of five years. This crisis is exacerbated by escalating tensions stemming from the ongoing US-Israeli conflict against Iran. Recent statements indicate that the economic implications of this turmoil remain uncertain, much hinging on the duration and intensity of the conflict and its geopolitical ramifications. The complexity of the situation compels European nations to reconsider their energy dependencies. The European Central Bank (ECB) has highlighted the necessity for Europe to mitigate its reliance on imported fossil fuels as a primary solution to these pressing... [Continue Reading]
360LiveNews | 08 Apr 2026 07:13
Trump Announces Two-Week Ceasefire with Iran Linked to Strait of Hormuz Access, Oil Prices Drop Significantly
In a notable escalation in global geopolitics, US President Donald Trump has declared a two-week ceasefire with Iran, contingent upon the reinstatement of free passage through the crucial Strait of Hormuz. This announcement has prompted a significant decline in oil prices, with Brent crude falling by 15.5% to $92.80 per barrel and US-traded oil decreasing by about 16.5% to $93.80. The declaration of the ceasefire comes amid heightened tensions between the United States and Iran, which escalated following ongoing military actions involving both nations. Trump emphasized the agreement's conditional nature, stating that it hinges on Iran's willingness to permit "the... [Continue Reading]
360LiveNews | 08 Apr 2026 00:09
Trump Issues Ultimatum to Iran Over Strait of Hormuz Amid Rising Tensions
The ongoing tensions between the United States and Iran have reached a critical moment as President Donald Trump has issued an alarming ultimatum to Tehran. Following increased military activities, Trump threatened that "a whole civilization will die tonight" if Iran does not comply with demands to reopen the Strait of Hormuz. The deadline for this ultimatum, set for 1 AM Irish time, is part of a broader strategy by the U.S. to address Iran's pivotal role in regional geopolitical tensions and its blockade of Gulf oil. Hours leading up to the deadline, Trump voiced his dire warnings via social media,... [Continue Reading]
360LiveNews | 07 Apr 2026 16:09
Israeli military targets multiple locations in northern Iran, including Tehran, causing extensive destruction on April 7
In a significant escalation of military action, the Israeli military has reportedly targeted several locations in northern Iran, including the capital, Tehran, resulting in extensive destruction. This operation occurred on April 7, leading to widespread devastation in areas such as Pardis, a city known for its proximity to the Iranian capital. Video footage from the location showcases the scale of the destruction that has brought international attention to the ongoing regional tensions. The context of these strikes is rooted in a firm ultimatum delivered by US President Donald Trump, who has insisted that Iran must reopen the strategically critical Strait... [Continue Reading]
360LiveNews | 07 Apr 2026 11:09
Libya's Oil Sector Struggles Intensify Amid Rising Tensions in the Strait of Hormuz and Global Energy Supply Concerns
Libya's ongoing struggles in its oil sector have intensified, mirroring recent tensions in the Strait of Hormuz as geopolitical players exert their influence over global energy supplies. Recent reports indicate that these disputes have emerged as important flashpoints that threaten the stability of oil markets, particularly in Europe, where supply vulnerabilities are becoming increasingly evident. The latest developments in Libya's oil sector occur against a backdrop where the Strait of Hormuz, a critical maritime chokepoint, has been subjected to escalating tensions. Approximately 20 million barrels of oil flow through this narrow waterway daily, representing about 25 percent of the world’s... [Continue Reading]
360LiveNews | 06 Apr 2026 18:13
Ukraine Conducts Drone Strikes on Key Russian Oil Terminals to Disrupt Military Financing
In a notable escalation in the ongoing conflict, Ukraine has launched drone strikes targeting crucial oil facilities in Russia, specifically the terminals at Ust-Luga and Primorsk. These attacks, which commenced in recent days, are reported to aim at crippling Russia’s ability to finance its military operations by targeting its oil exports. The International Energy Agency indicates that these terminals are vital, handling approximately two-fifths of Moscow's seaborne oil exports and contributing nearly 2% to the global oil supply. Residents of St Petersburg, particularly men like Konstantin, are beginning to notice the effects of these strikes. The 53-year-old St Petersburg resident... [Continue Reading]
360LiveNews | 06 Apr 2026 14:13
Global oil prices exceed $110 a barrel amid tensions between the US and Iran over the Strait of Hormuz
Global oil prices have surged past $110 a barrel following US President Donald Trump's threatening remarks aimed at Iran concerning the critical Strait of Hormuz. In a recent social media post, Trump warned of potential military action against Iranian infrastructure unless the strait is reopened by Tuesday. This ultimatum has contributed to significant fluctuations in oil markets, where Brent crude has risen by 1.6% to $110.85 and US-traded oil is up by 0.8% at $112.40. The Strait of Hormuz is pivotal for global energy transit, facilitating approximately one-fifth of the world’s crude oil shipments. The recent military threats coincide with... [Continue Reading]
360LiveNews | 06 Apr 2026 02:09
Iranian missiles strike residential and industrial areas in Israel, causing destruction and multiple injuries
In a troubling escalation of hostilities, Iranian missiles struck residential and industrial areas in Israel today, resulting in significant destruction and multiple casualties. Video footage has surfaced showing a missile direct hit on a residential building in Haifa, causing part of the structure to collapse and trapping several individuals beneath the rubble. Initial reports indicate that at least ten people have sustained injuries, with emergency services working urgently to rescue those trapped. Separately, missiles targeting the Ramat Hovav industrial area in southern Israel were also recorded hitting their mark, contributing to widespread alarm across affected communities. The direct impact of... [Continue Reading]
360LiveNews | 05 Apr 2026 19:09
Nepal government extends weekend to two days to address fuel crisis and alleviate citizen discomfort
In a significant response to an ongoing fuel crisis, the government of Nepal has officially extended the weekend from one day to two, implementing Saturday and Sunday as non-working days for all government offices and educational institutions. This emergency decision was taken during a cabinet meeting held today, with spokesperson Sasmit Pokharel indicating that the measures aim to alleviate the discomfort faced by citizens due to drastic fuel shortages. The context for this surprising move can be traced back to the recent escalation of hostilities in the conflict involving Israel and Iran, which has led to soaring fuel prices globally.... [Continue Reading]
360LiveNews | 05 Apr 2026 15:13
China's hydrogen-powered aircraft maiden flight highlights technological advancements amid tensions in the Strait of Hormuz
The ongoing geopolitical tensions in the Strait of Hormuz coincide with China's significant technological advancements in aviation, marked by the recent successful maiden flight of a hydrogen-powered aircraft. This event has provoked discussions around energy resources and regional security, particularly as Iran continues to assert control over vital maritime passages. The aircraft, a powerful uncrewed model, is heralded for establishing a complete technological chain in hydrogen propulsion, showcasing both China's engineering capabilities and its commitment to alternative energy solutions. The aircraft, developed by the Aero Engine Corporation of China (AECC), weighed 7.5 tonnes and is powered by a hydrogen turboprop... [Continue Reading]
360LiveNews | 05 Apr 2026 13:09
US Rescues Second Crew Member from Downed F-15 Fighter Jet in Iran Amid Rising Tensions with Iranian Forces
In a dramatic escalation of military operations, the United States has successfully rescued a second crew member from an F-15 fighter jet shot down over Iran. President Donald Trump confirmed the rescue early Sunday, calling it "miraculous" and describing the operation as one of the most daring search and rescue missions in US military history. The operation unfolded against a backdrop of increasing hostilities between Iran, the US, and Israel, as Iranian forces launched missile strikes early Sunday targeting locations in Israel and Kuwait. According to Trump, the rescued airman, a colonel, was found in the “treacherous mountains of Iran,”... [Continue Reading]
360LiveNews | 05 Apr 2026 08:09
Australia Secures Assurances from Asian Nations on Continued Fuel Supply Amid Middle East Tensions
Australia's federal government has received assurances from several Asian nations that the "normal supply" of fuel will continue despite ongoing tensions in the Middle East, specifically associated with the Iran conflict. With the closure of the Strait of Hormuz impacting global oil markets, the government is intensifying efforts to prevent potential petrol and diesel shortages that could arise from these international developments. Nations such as South Korea, Singapore, Malaysia, and Japan have been pivotal in these discussions, given that Australia imports about 90% of its refined fuel from these and other Asian refineries. The Organization of the Petroleum Exporting Countries... [Continue Reading]
360LiveNews | 05 Apr 2026 05:17
Discussions on extending UK fuel duty cut intensify amid rising petrol prices linked to geopolitical tensions
The ongoing discussions surrounding the extension of a fuel duty cut in the United Kingdom have gained momentum following a recent surge in petrol prices. This increase has been attributed largely to geopolitical tensions stemming from the war involving the US, Israel, and Iran. Lord Walker, who serves as an adviser on cost-of-living issues to the UK Prime Minister, has publicly stated that the government should consider maintaining the current fuel duty reduction, which is currently set to expire in September. Lord Walker's remarks mark a notable shift in the dialogue around fuel prices as the Labour Party, led by... [Continue Reading]
360LiveNews | 03 Apr 2026 22:13
US Defence Secretary orders retirement of Army Chief of Staff General Randy A. George amid ongoing military tensions
US Defence Secretary Pete Hegseth has ordered the immediate retirement of Army Chief of Staff General Randy A. George, marking the latest high-profile dismissal within the US military hierarchy amid the ongoing conflict involving the United States, Israel, and Iran. This decision follows a series of dismissals since Hegseth took office, and it raises questions about military leadership during a turbulent period marked by increasing tensions and active military engagements. According to a statement from Pentagon spokesperson Sean Parnell, General George's retirement was announced publicly, yet reasons for this abrupt action have not been disclosed. Parnell expressed gratitude for George's... [Continue Reading]
360LiveNews | 03 Apr 2026 09:09
When Deterrence Becomes Reality
Yesterday the war crossed a line! For years the Sejjil ballistic missile existed mostly as a symbol. A weapon paraded in military videos, discussed in defense briefings, whispered about in strategic circles as one of Iran’s most serious capabilities. A weapon that analysts described as deterrence, not something meant to be used. But on March 15, 2026, that line disappeared. Iran reportedly launched the Sejjil (also known as Ashoura) as part of what Tehran called the 54th wave of Operation True Promise 4, a massive strike package that also included the Fattah hypersonic missile and the Qadr ballistic missile system.... [Continue Reading]
360LiveNews | 16 Mar 2026 18:34
There Is Good in Every Bad
Power, Greed, Oil, and the Theater of Modern Geopolitics The Business Model of Power Donald Trump does not govern like a traditional politician. He governs like a negotiator who believes every geopolitical crisis is leverage, every war threat is a bargaining chip, and every market panic is an opportunity. When markets tremble, someone profits. The question is, who? Global markets react instantly to political tension. Gold rises when conflict looms. Oil spikes when instability threatens production. Stock markets collapse on fear, then rebound on reassurance. Volatility is not chaos, it is opportunity. Historically, gold has surged during major geopolitical crises,... [Continue Reading]
360LiveNews | 18 Feb 2026 17:11
