Tag: Global Oil Markets

Global Oil Trade Impacted by US-Iran Tensions, Strait of Hormuz Slowdown

On Thursday, the passage of ships through the Strait of Hormuz saw a sharp decline, as tensions escalated between Iran and the United States, disrupting a crucial conduit for global energy trade. The waterway, which typically sees heavy traffic, recorded only three commodity vessels crossing, marking the lowest daily activity since May. This drop comes amid a backdrop of rising security concerns, spurred by...

Italian President’s Stance on Pardons Influences Economic and Business Stability

In a recent development, Italian President Sergio Mattarella held discussions with Justice Minister Carlo Nordio to reaffirm the constitutional prerogatives surrounding the granting of pardons. This meeting was prompted by the justice ministry's initiation of pardon proceedings for Mario Roggero, a jeweler aged 72, who has been sentenced to over 14 years in prison. Roggero was convicted for shooting and killing two robbers and...
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