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Thursday March 26, 2026 Hargeisa (AX) — Drivers and businesses across North Western State of Somalia are facing fresh fuel price hikes after authorities on Wednesday rolled out new official pump rates, pointing to surging global oil prices and tighter supply conditions. The revised pricing sets gasoline at 12,500 North Western State of Somalia shillings per liter, while diesel will sell for 10,500 North Western State of Somalia shillings per liter. Officials said the new rates were agreed after consultations involving the…

Japan and Australia said they are not planning to send naval vessels to escort commercial ships through the Strait of Hormuz after President Donald Trump called on allies to help reopen the vital waterway amid the U.S.-Israeli war on Iran. Trump, arguing that countries dependent on Gulf oil have a responsibility to protect the corridor through which about 20 percent of the world’s energy flows, said his administration has contacted seven nations to form a maritime coalition. He did not identify them, though over the weekend…

Domestic Petrol Prices Rise Amid Global Supply Concerns Initial hopes for a reduction in domestic petrol prices sparked by the International Energy Agency (IEA) announcing that oil-producing nations would ramp up production now appear to be short-lived. Just as expectations rose, the Iranian government's alarming statement regarding the potential closure of the Strait of Hormuz—a critical global supply route—sent international oil prices surging again. This unexpected turn of events followed assurances of price cuts from…

Iran is shifting the battlefield to the global economy: oil routes and cloud giants in the crosshairs The United States holds a decisive edge in conventional firepower. Iran knows it cannot match that force head-to-head. Instead, it is probing the seams of a system that keeps the world running—energy flows and digital infrastructure—and betting that economic disruption will shape the outcome of this war as much as any clash on land, sea or air. In recent days, Iranian threats to target ships have played out despite stern…

Oil prices leap past $100 as Iran conflict chokes Hormuz, stoking global food inflation risk LONDON — Oil prices surged above $100 a barrel this week, the highest since Russia’s 2022 invasion of Ukraine, as escalating conflict involving U.S.-Israeli forces and Iran on Feb. 28 rattled energy markets and raised the specter of renewed food inflation worldwide. The Strait of Hormuz — the narrow chokepoint between the Persian Gulf and the Gulf of Oman through which roughly 20% of global oil supply moves — has seen marine traffic…

European shares fell further Monday as oil prices surged toward $120 a barrel, deepening inflation fears and rattling risk appetite amid the US-Israeli war on Iran, which shows no sign of easing. The latest bout of volatility underscored the market’s sensitivity to energy shocks and supply disruptions tied to the conflict in the Middle East. London’s benchmark slipped 1% in afternoon trade, while the Paris CAC 40 lost 1.7% and Frankfurt’s DAX dropped 1.4%. Dublin’s market fell 1.3%, with Kingspan, Cairn Homes and Ryanair…

MOGADISHU, Somalia — Fuel prices in Somalia’s capital surged nearly 77% overnight on Sunday, intensifying pressure on households and businesses already strained by rising living costs and supply disruptions across the region. The price of gasoline jumped from about $0.65 to $1.15 per liter late Friday, according to traders and drivers. By rush hour, cars queued at multiple Mogadishu stations as motorists scrambled to fill up, while taxi and three-wheeler (Bajaj) operators warned they may have to raise fares to stay afloat.…

Analysis: Macron’s nuclear bet redraws Europe’s security map — and tests its appetite for autonomy Emmanuel Macron stood before a hulking French ballistic-missile submarine in Brest and declared a new nuclear doctrine for Europe. In quieter times, the French leader’s vow to expand France’s arsenal, cease public warhead disclosures and extend a French “nuclear umbrella” over willing European partners would have sparked a week of front pages. Instead, with the United States and Israel waging war on Iran, the significance of…

Oil and gas prices jumped Monday as escalating Iranian strikes across the Middle East snarled shipping lanes, hit energy infrastructure and stoked fresh inflation fears in global markets. European natural gas futures spiked as much as 50% intraday before closing 39% higher after QatarEnergy halted liquefied natural gas production following drone attacks on facilities in Ras Laffan Industrial City, according to the country’s defense ministry. Brent crude briefly touched $82 a barrel after at least three ships were attacked…

Airspace closures across the Middle East have triggered sweeping flight cancellations and global knock-on delays, as pressure mounts on the region’s key aviation hubs in Dubai, Doha and Abu Dhabi. Dublin Airport said all services between Ireland and the Middle East scheduled for today are canceled, with 5,000 to 6,000 passengers affected so far, underscoring how the disruption is rippling through long-haul travel networks. Gulf gateways are central to east–west traffic linking Europe with Asia and Australia. Twenty-three…