Asia

Yemen's Houthi group fired missiles on Saudi Arabia, accusing it of bombing a Saudi airport that was under their control. This broke a four-year ceasefire in the conflict between Saudi Arabia and the Iran-aligned movement. This move marks the end of the de-escalation period and is a sign that Iran may now use its Houthi allies in order to shut down the Bab el-Mandeb entrance to the Red Sea. It would be the second 'global /shipping chokepoint disrupted since the Strait of Hormuz. WHO ARE HOUTHIS? Abdul Malik al-Houthi is the leader of Yemen’s Houthis. He is a highly secretive...

China's export engine will post another trillion-dollar trade surplus in this year. It is ignoring tariff tensions and energy shortages, while focusing on the still undervalued Yuan. While the focus is on Washington, the second-largest economy in the world is growing rapidly. Its?global influence is just as strong as that of Washington. China's housing crises, demographic decline, and bilateral trade conflicts with Washington, which have occurred amid the geopolitical tensions since the pandemic and amidst the geopolitical tensions that followed, have?overshadowed the biggest economic shock of the century, according to some -- even though China's economy is still posting impressive...

Two sources with knowledge of the matter confirmed on Wednesday that China's Zhenhua Oil had booked to load 2 million barrels in Saudi crude for August. This is a sign that a new?joint venture? refinery between China and Saudi Arabia will soon begin operations. The crude will be supplied to the newly built 300,000-barrel-per-day Huajin Aramco Petrochemical Co (HAPCO) refinery in northeastern China's Liaoning province, the sources said. HAPCO was formed by Saudi Aramco, Norinco Group (a Chinese state-owned conglomerate) and Panjin Xincheng Industrial Group. HAPCO has delayed its start-up to September or even October due to disruptions in Middle...

Malaysia announced on Wednesday that higher global energy prices have boosted its petroleum revenue enough to cover part of the rising costs for 'fuel subsidies. This has eased pressure on the government's finances. The government said that it may spend as much as 40 billion ringgits ($9.83 billion), far more than the 15 billion ringgits initially allocated?in the budget for 2026, on fuel subsidies in 2019. This is due to higher energy prices related to the Middle East conflict. * Each $1 change in crude oil prices is estimated to affect federal petroleum revenues by?about 300 million ringgit, not including...

The dramatic reduction in China's crude oil imports is credited with preventing prices from rising during the Iran conflict. The question now is whether the world’s largest oil importer will be able to do the same for markets that are increasingly stressed. In June, China's imports of crude oils by sea fell to their lowest level in over a decade. According to commodity analysts?Kpler, arrivals were 5.96 million barrels a day. This was down from an average of 10,66 million bpd during the three months prior to the U.S.-Israeli attack on Iran, which began a conflict which resulted in a...

Traders and fuel market participants reported that the fuel?shortages?in Russia caused by?Ukrainian drone attacks on its refineries?have reached Central Asian nations, who are dependent on Russian supplies. Sources claim that the amount of jet fuel shipped by rail by Central Asia and Afghanistan dropped 92% from May to 3,800 metric tons in June, while gasoline supplies fell 34% to 99 300 tonnes. According to traders, diesel exports grew?in June from 167.500 tons in May to 237.700 tons. Despite the larger drop in June, Russian fuel imports to Central Asia & Afghanistan rose by 7% from a year earlier to 3,82...

* Oil demand growth in 2026 is cut by 190,000 barrels per day (bpd) due to the impact of the Iran war * OPEC+ production?rises 3 million bpd by June as Hormuz flow starts to?recover * Reduced geopolitical tensions could give the economy some 'upside' in the second half of the year Olesya Astakhova & Alex Lawler LONDON - OPEC lowered Monday its forecast for the world's oil demand growth to 780,000 barrels a day. This is its third consecutive downward revision. The producer group has continued to predict a lower impact on consumption than other forecasters, such as the...

After a series of antisemitic attacks on British streets, the British government used powers similar to proscriptions in order to combat state-backed threats. This power would effectively ban support for these groups, and give police and intelligence agencies?new powers to combat any threats related to them. Keir starmer, the Prime Minister of Britain, said that "these 'new powers' will make it easier for anyone to be prosecuted and jailed in Britain who is doing their dirty work." Since its establishment in 1979, the IRGC has been an elite military force loyal the Supreme Leader of the Islamic Republic. The Islamic...

Sheikh Hamad Bin Khalifa al-Thani died aged 74. He was a moderniser and a powerful leader who took power in 1995, but broke tradition by handing it over to his son, 18 years later. The Amiri Diwan in Qatar, Qatar's top government body, announced on Sunday that Sheikh Hamad died. The cause of death was not mentioned. It did not mention?the cause of his death. Sheikh Hamad presided in one of the most significant periods of history of the country, driving a fast transformation of the small desert state, which reshaped the economy, global status and political ambition. He was...

The nation's Amiri Diwan (its top government body) announced on Sunday that Qatar's former emir had died at the age of 74. Sheikh Hamad bin Khalifa Al Thani, Qatar's former ruler from 1995 until 2013, abdicated to his son Sheikh Tamim. Sheikh Tamim is now the current leader of this gas-rich Gulf nation. The Amiri Diwan has announced the death of HH Father Amir Sheikh Hamad Bin Khalifa Al-Thani. The Diwan stated that Allah would have mercy on him and give him the best reward possible for his achievements for 'his homeland and nation. Sheikh Hamad has raised Qatar's profile...

The local RFE/RL branch reported that Tajikistan has 60 days worth of fuel reserves. It is also in discussions with nearby countries to secure future supplies. This comes amid acute fuel shortages in Russia, a major trading partner. Radio Ozodi quoted the minister Daler Juma as saying "The export of some types?of petroleum products is still continuing from Russia to Tajikistan." At the same time, some difficulties continue. The broadcaster quoted the minister as saying that Tajikistan worked with Kazakhstan, Turkmenistan and Iran to ensure it had the fuel it needed. Tajikistan is a small country with a population of...

India's Oil?and?Natural?Gas Corp. will build a 1,75 million metric tons (about 13,000,000 barrels) strategic petroleum reserve at Mangalore, in southern India. The company announced this in a late-night stock exchange filing on Thursday. India, which is the third largest oil consumer and importer in the world, was severely affected by the blockade imposed on the Strait of Hormuz - during the Iran War. Around a fifth (25%) of all energy in the world passes through this?waterway. India has increased its energy cooperation, with countries such as the United Arab Emirates, Japan and others, in order to strengthen its emergency stockpile....

Investors weighed the gloomy macroeconomic conditions in China with lower U.S. consumer inflation data. Benchmark three-month Copper on the London?Metal Exchange fell 0.49% to $13,576.5?a metric tonne by?0700 GMT. The most-traded contract for copper on the Shanghai Futures Exchange has pared earlier gains. It is now trading at 104,220 Yuan ($15.392.11) per ton. China, the world's largest economy and top metals consumer, saw its GDP growth slow to a low of 3.5 years, as a result of weak domestic demand. The Yangshan Copper Premium, which tracks Chinese purchasing interest, remains strong. On Tuesday, the price of a ton of copper...

Copper prices rose on Wednesday as lower than expected U.S. inflation supported demand and lifted sentiment, even though the Middle East crisis continued to weigh. The benchmark three-month 'copper contract on the London Metal Exchange? was up 0.05% to $13,650 per metric ton at 0300 GMT. The Shanghai Futures Exchange's most traded copper contract was up 0.64% at 104,770 Yuan ($15480.89) per ton. Data released on Tuesday showed that U.S. consumer prices slowed down more than anticipated in June. This eased fears about higher interest rates and a possible slowdown of economic activity. Daniel Hynes said in a ANZ note...

Ghana's Gold Board purchased up to 54 tons of gold in the first half 2026 from small-scale and artisanal mining. The sector's output is on track to equal or exceed last year's records, said the CEO of the state entity. Ghana's largest exporter and foreign currency earner is expected to have another successful year, which will help support the economy as it recovers from its worst financial crisis in decades. Africa's biggest gold producer saw ASM production?surge after sector reforms were implemented to?stop smuggling and boost foreign currency earnings. The production reached a new record of 104 metric tonnes last...

The company reported that a 'furnace explosion' triggered a fire in a Jain Resource Recycling manufacturing facility in India’s Tamil Nadu. The 'firm' said that it was evaluating the extent of damage caused by the fire and has temporarily suspended operations in the affected section. According to its LinkedIn 'page, Jain Resource Recycling converts scrap metals such as aluminum, copper and lead into 'raw materials' used in the construction, automotive and electrical industries. Vedanta Sterlite Copper, Luminous Power Technologies and Mitsubishi Corporation RtM Japan are among its?customers....

On Tuesday, copper 'prices' rose to their highest level in three weeks due to signs of a firmer China demand and shortages. The benchmark three-month copper price on the London Metal Exchange rose 0.4% by 0930 GMT to $13,601 per metric ton, its highest level since June 23. Ewa Mnthey, commodities analyst at ING, said that copper is being supported by a combination of strong Chinese data and tighter physical market conditions. Exports from the top metals consumer, China, surged in June. This was their best performance for four months. The Shanghai Futures Exchange's most traded copper contract rose by...

The latest escalation of the Middle East conflict prompted a rise in copper?prices on Tuesday. The benchmark three-month copper price?on London Metal Exchange? climbed 0.2% by 0700 GMT to $13,568.5 per?metric?ton. The Shanghai Futures Exchange's most traded copper contract rose by 1.06%, to 104 390 yuan a ton. Donald Trump, the President of the United States and Iran, have both announced blockades of Strait of Hormuz. The U.S. renewed its attacks on Iran and?tankers were attacked in this vital waterway. Everbright Futures, a Chinese broker, said that the escalation was a "double edged sword" as fears about supply support prices,...

Ma Xingrui was expelled from the Communist Party by China on charges of corruption. He is the third member to have been expelled since 2025, as President Xi Jinping continues his anti-corruption campaign. Ma, who was also the deputy leader of the central rural working group, came under investigation for "serious violations of law and order" (the party's code word for corruption) in April. Xinhua said that Ma's investigators discovered that he had improperly arranged a?job for another and sought to benefit others through the selection and appointment officials. The report stated that he "connived, failed to detect, and failed...

The price of copper in London fell slightly on Tuesday, amid the latest escalation of the Middle East conflict. However, this was offset by concerns over a possible supply chain crisis. Benchmark 'three-month' copper prices on the London Metal Exchange dropped 0.18% to $13,516 per metric tonne by 0300 GMT. After an increase in LME copper prices overnight, the most-traded contract for copper on the Shanghai Futures Exchange increased by 0.64%. It now stands at 103950 yuan a ton. Donald Trump, the U.S. president, and Iran announced that they would both blockade the Strait of Hormuz. The U.S. has renewed...

Northern Minerals announced?on?Tuesday that Australian Treasurer, Jim?Chalmers, has ordered three 'offshore 'investment firms - including Hong Kong Ying Tak - to refrain from exercising voting rights within the rare earths developer. Foreign Investment Review Board of Australia (FIRB) has said that Hong Kong Ying Tak and?British Virgin Islands registered Real International Resources as well as Hong Kong registered?Qogir Trading & Service have failed to comply to earlier government 'orders to reduce stakes in Northern Minerals. In May, Treasurer Chalmers?ordered offshore shareholders to divest by July?2 their?holdings over concerns that Chinese-linked groups were seeking control of rare-earths mining company. Ying Tak's...

The copper prices held steady on Monday, as the dollar eased. However, gains were limited as the 'fighting' between the U.S.A. and Iran intensified and oil prices rose, reinforcing fears of inflation and growth. At 1601 GMT, the benchmark copper price on 'the?London Metal Exchange' was up 0.3% to $13,528 per metric tonne. The lower dollar makes metals priced in dollars cheaper for holders of currencies other than the U.S. dollar, which could increase demand. The price of oil has risen after renewed military attacks between the United States of America and Iran re-ignited concerns over energy shipments via the...

India's trade minister said that the talks between India and America are "progressing well" and New Delhi does not see any obstacles to a successful conclusion of a deal. The framework agreement is complete. The framework deal will be signed when the time is right, said Rajesh Agrawal, trade secretary, at a June press conference, as he presented monthly data on exports and imports. In February, both sides agreed on a?18% tariff on Indian goods as a trade-off for New Delhi to lower its trade barriers and buy more American goods. The U.S. Supreme Court's ruling invalidating President Donald Trump’s...

The dollar was weaker on Monday, but gains were limited as tensions between the U.S.A. and Iran escalated and oil prices increased, further causing inflationary fears. The benchmark copper price on the London Metal Exchange was 0.1% higher, at $13,501 per metric ton of official rings. The lower dollar makes metals priced in dollars cheaper for holders of currencies other than the U.S. dollar, which could increase demand. After renewed military strikes by the United States and Iran, concerns about energy shipments via the Strait of Hormuz were reignited. The focus was also on falling copper inventories. The copper stocks...