Daily brief
Oil prices have surged past $90 per barrel, with a key Middle East benchmark exceeding $100, driven by fears that regional conflict could disrupt global supplies. In response, Kuwait's national oil company has announced a precautionary cut in production. Companies like Indian Oil Corp are making arrangements to secure cargoes via alternative routes such as the Red Sea.
Qatar's aviation authority is allowing limited air traffic, temporarily reopening its airspace for coordinated flights.
Damage to undersea cables in the Red Sea could disrupt internet connectivity in Arab countries.
The United States has brokered a major gold deal with Venezuela's state-owned mining company.
Pakistan is seeking to use a Saudi Red Sea route for its oil imports after Iran closed the Strait of Hormuz.