Global oil prices drop - US easing Iranian closure of Strait of Hormuz
Oil prices fell 1% on Tuesday on signs that the US Navy is loosening Iran's grip on the Strait of Hormuz, potentially opening up supplies from the Middle East.
The US on Monday launched a new operation aimed at reopening the strait to shipping. Maersk later said the Alliance Fairfax, a US-flagged car carrier, exited the Gulf through the strait escorted by the US military.
Brent oil futures for July fell 51 cents to $113.93 a barrel, while U.S. crude fell $1.55 to $104.87.
However, Iran launched attacks in the Persian Gulf on Monday to counter the US move as they fight for control over the Strait of Hormuz, which connects the Gulf to wider markets and usually transports oil and gas equivalent to about 20% of global demand each day.
Several commercial ships were reportedly hit in the area, while a key oil port in the United Arab Emirates caught fire after an Iranian attack. Trump's attempt to use the US Navy to free the ships is the biggest escalation of the war since the ceasefire was declared four weeks ago.
The US is pushing to open the Strait of Hormuz to ease a massive disruption to global energy supplies, after Iran largely closed the strait after the US and Israel began war on February 28.
Due to disruptions, global oil reserves are approaching their lowest level in eight years, Goldman Sachs said, warning that the speed of their depletion was becoming worrying as supplies remained tight.
Finance publishes securities auction calendar, starting with 20-year bonds
The Ministry of Finance published the government securities auction calendar for May, inviting citizens and investors to participate. Through an......
The Parliamentary Laws Committee approved the Normative Act on fuel excise duty, effective in April 370 thousand euros
The state budget has so far benefited from the increase in hydrocarbon prices by 553 million lekë, while the negative effect of the 20% reduction in oil......
Cashless payments with POS, Taxes remind entities that have the obligation of the remaining deadline
There are 27 days left until the deadline for implementing the legal obligation to make cashless payments through POS/POI devices at points of sale, for a......
Are Albanians hesitant about vacationing abroad? - Zani: Albania is being seen as an alternative destination by foreigners
The uncertainties and recent developments in the region seem to be directly affecting vacation plans. This summer, Albanians are being more reserved about......
Housing in Albania, more difficult for locals than for foreigners/ Eurostat: Albanians face housing difficulties more often
Amid rising housing prices and the difficulty of affording rent or loans, a significant portion of the population has encountered housing problems at some......
Airbnb në Shqipëri po shkon drejt luksit? Riviera kryeson me tarifa deri në 200 euro nata në kulm sezoni
Tregu i qirave afatshkurtra në Shqipëri po hyn në një fazë më të sofistikuar, ku mundësitë më të mëdha nuk qëndrojnë vetëm tek volumi, por tek segmentet e......
"There has been and is no blockage" - Negotiation process, Minister Hoxha: We continue the reforms with patience
Albania's path towards the European Union is not blocked or vetoed by any member of the union. This was emphasized by the Minister for Europe and Foreign......
Rinas Railway Station - Tender opens for design and construction, fund limit 91.6 million lekë
The Albanian Railways has opened the tender for the drafting of the detailed project and the construction of the Rinas airport railway station building, part......
