Daily brief
Global oil prices have surged to record monthly highs, driven by supply disruptions and fears of a wider conflict stemming from the war in the Middle East. The spike is increasing fuel costs for consumers worldwide, prompting some governments to cut taxes for relief. Asian stock markets fell as investors worried expensive oil could harm fragile economic growth.
QatarEnergy has started liquefied natural gas production at a facility in the United States, aiming to bolster global supplies amid market volatility and regional conflicts.
President Donald Trump threatened to seize Iran's oil resources while also predicting a possible deal, contributing to volatility in oil markets.
Iran bombarded the Gulf, killing one person at a desalination plant in Kuwait.
Fears of a double blockade in the Red Sea and Strait of Hormuz are raising risks for South Korea's exports and supply chains.