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G7 releases record amount of oil stocks to 'calm the markets down'
BusinessAPReutersBBC+101bloombergNYTwsjFTle-mondewapoThe GuardianAl Jazeera+93 more3d ago104 sources

G7 releases record amount of oil stocks to 'calm the markets down'

G7 leaders have announced the record release of 400 million barrels of oil in response to the war in the Middle East. This represents about twenty days worth of usual oil traffic through the Strait of Hormuz, currently through dangerous to go through due to the threat of Iranian strikes. This initiative aims 'to calm markets down', as FRANCE 24's Philip Turle explains.

Central Banks Eye Hawkish Shift as Middle East Conflict Fuels Inflation and Boosts Dollar
FinanceReutersBBCbloomberg+11wsjNHK Worldmarketwatchnikkei-asiaYahoohindustan-timesstraits-timesnaftemporiki+3 more3d ago14 sources

Central Banks Eye Hawkish Shift as Middle East Conflict Fuels Inflation and Boosts Dollar

The Yen has weakened and Goldman Sachs delayed Fed rate cuts due to increased inflation risks from the Middle East conflict, prompting concerns among central banks about potential hawkish shifts in monetary policy. The conflict's impact on oil prices has also made dollar options the most bullish since 2022.