IAEA inspections in Iran show no substantive nuclear work, says Grossi
The International Atomic Energy Agency (IAEA) is conducting inspections in Iran but has not visited the three sites that were bombed by the United Sta...
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
Despite an early spike in oil prices that quickly subsided, Goldman Sachs analysts predict that a disruption in supplies from the Middle East, especially through the vital Strait of Hormuz, would cause energy prices to soar.
The investment bank estimates that if oil flows through the Strait of Hormuz were cut by half for a month and then remained 10% lower for another 11 months, Brent crude could spike briefly to as high as $110 per barrel. This level would mark the highest price since August 2022 and nearly a third higher than the current price of around $77 per barrel.
If Iranian oil supply alone fell by 1.75 million barrels per day, Brent prices would peak at about $90 per barrel, according to analysts including Daan Struyven.
However, Goldman Sachs’ baseline scenario assumes that physical disruptions to Iran’s supply and the broader regional oil and gas production and shipping are avoided. Under this assumption, Brent crude is forecast to fall to around $60 per barrel by the end of the year.
The warning comes amid heightened tensions in the region after Iran’s parliament voted to shut down the Hormuz shipping channel, a crucial artery carrying about 20% of global oil shipments, in retaliation against U.S. military actions.
Goldman analysts argue that there are strong economic incentives for key players - including the U.S. and China - to prevent a sustained and large-scale disruption to the Strait of Hormuz, underscoring the critical importance of this route to global energy security.
A small, silent object from another star is cutting through the Solar System. It’s real, not a film, and one scientist thinks it might be sending a message.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
U.S. stocks were mixed late Wednesday as traders digested comments from Federal Reserve Chair Jerome Powell, who signaled that another interest rate cut in December is far from guaranteed. The Dow Jones Industrial Average and S&P 500 edged slightly lower, while the Nasdaq climbed on continued gains
U.S. chipmaker Nvidia has made history by becoming the first company in the world to reach a market value of 5 trillion dollars, driven by soaring demand for artificial intelligence technologies.
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
Türkiye has emerged as Europe’s largest steel producer and the world’s seventh largest in the first eight months of 2025, producing 36.9 million tonnes last year, according to sector officials.
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