Global air cargo rates fell in July as the conflict involving Iran pushed up jet fuel costs and disrupted supply chains, while new European Union import rules further weakened shipments from China and Hong Kong to Europe, according to WorldACD Market Data.
Global chemical leader Saudi Basic Industries Corporation (Sabic) has announced that it has completed the sale of its engineering thermoplastics (ETP) business in the Americas and Europe to Mutares SE & Co, thus marking a key step in its portfolio optimisation strategy.
Diesel prices in the US and Europe have risen sharply amid disruptions to supplies of refined oil products, including diesel fuel. US ultra-low sulfur diesel futures surged 7.4% to settle at $4.19 per gallon on Monday, while in Europe, the diesel refining margins witnessed a 10% drop.
The US and Israel are planning 'one of the harshest bombing campaigns to date' against energy infrastructure targets in Iran, multiple sources told CBS News, with strikes possible throughout the weekend in a move that would mark a further escalation of regional tensions.
The International Energy Agency (IEA) forecasts global natural gas demand will fall 0.5 per cent in 2026 as Middle East conflict-driven supply disruptions, higher prices and reduced LNG flows through the Strait of Hormuz weigh on consumption.
The United States launched a fresh wave of military strikes across Iran overnight, targeting more than 80 sites after Tehran resumed attacks on commercial shipping in the Strait of Hormuz, further destabilising a fragile ceasefire agreed less than three weeks ago.
Yokogawa Corporation of America has been selected as Main Automation Contractor (MAC) for the Commonwealth LNG project in Louisiana, US, strengthening its role in one of the country’s major LNG developments.
Global liquefied natural gas (LNG) trade reached a record 436.98 million tonnes in 2025, rising 6.3 percent and marking the fastest growth since 2022, according to the International Gas Union (IGU).
British budget airline easyJet has agreed in principle to a revised takeover offer from US investment firm Castlelake, valuing the carrier at up to £5.5 billion ($7.34 billion).
Valvitalia Group has secured a contract worth approximately $30 million to supply valves for the Desert Southwest pipeline, one of the largest energy infrastructure projects currently under development in the southwestern US.
