FRANKFURT, Germany (AP) – Energy prices rose sharply Monday as disruptions to tanker traffic through the Strait of Hormuz and damage to production facilities raised uncertainty about how U.S. and Israeli attacks on Iran would affect supply to the world economy.
NEW YORK (AP) – Oil prices are leaping Monday with worries that war in the Middle East will clog the global flow of crude and make inflation even worse. U.S. stocks, meanwhile, are swinging between sharp losses and a tiny gain.
KUALA LUMPUR, Malaysia (AP) – Malaysia’s government renewed Australian miner Lynas Rare Earths’ operating license for 10 years but will require it to stop producing radioactive waste by 2031.
Excerpts from recent editorials in the United States and abroad:
NEW YORK (AP) – Eight countries that are part of the OPEC+ oil cartel announced Sunday they will boost production of crude as U.S. and Israeli forces launched a major attack on Iran and the country responded with retaliatory strikes against Israel and U.S. military installations around the Gulf, disrupting oil shipments from the region.
LONDON (AP) – Several international airlines resumed a small number of flights from the United Arab Emirates on Monday, offering some relief for travelers caught up in airspace closures and other safety precautions as the U.S. and Israel bombarded Iran, and Iran struck back at targets across the Middle East.
The “Life in Venice” housing development, a multibillion-dollar replica of the Italian city on the Chinese coast, stands silent. Many of the tens of thousands of homes are hollow husks of concrete and alabaster.
The United Arab Emirates has sold itself to foreigners for years as a sunny, safe, tax-free oasis. That peaceful image was shattered Saturday as Iranian weaponry rained down on Dubai, setting fire to a five-star resort, threatening the world’s tallest building, and killing one person and injuring seven others at the airport in the capital city of Abu Dhabi.
OMAHA, Neb. (AP) – Greg Abel paid tribute to his predecessor Warren Buffett while promising Berkshire Hathaway won’t retreat from investing or make significant changes. Abel said he will always maintain Berkshire’s financial strength but investors shouldn’t look at the company’s $373.3 billion cash as a sign that it’s not interested in new investments.
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