Oil price heading for biggest weekly gain in four years, as strait of Hormuz traffic grinds to a halt – business live

2026-03-06 - 07:32

Rolling coverage of the latest economic and financial news Iran war live updates: US temporarily lets India buy Russian oil amid energy fears; Israeli military launches strikes on Beirut International Monetary Fund managing director Kristalina Georgieva has warned that a 10% increase in energy prices that persists for a year would push global inflation up by 40 basis points and slow economic growth by 0.1-0.2%. Speaking to Bloomberg TV, Georgieva said: “The world economy has been remarkably resilient. Shock after shock, and yet growth is at 3.3%. But this resilience is being tested yet again.” Continue reading...