Category
Economy
Markets, trade, employment, prices and economic policy.
Credibility summary
Of the 247 claims in Economy with evidence either way, 93% held up.
Showing 1-20 of 1595 claims
Nucleus Portland is part gallery, part gift shop whose offerings include Kewpie dolls and vintage Japanese key chains.
Really Good Stuff is an eminently browsable boutique.
Qatar’s energy minister has predicted that if the disruption to Hormuz continues all Gulf energy exporters will have to shut down production within weeks – delaying any restart if the strait reopens – and oil could rise to $150 a barrel.
China has taken advantage of weak oil prices over recent years to quietly amass record high levels of crude stocks, which are estimated to exceed 1.2bn barrels in its onshore crude stockpiles.
The stoppage has sent fossil fuel prices soaring, and fears over supplies have been compounded by strikes against key oil and gas infrastructure in the region that threaten to further disrupt supply even if tankers are able to resume their routes through the strait.
Oil storage facilities in Saudi Arabia, the United Arab Emirates and Kuwait are reaching their limits, meaning large oilfields may need to be shut down if crude cannot be exported via the strait of Hormuz to the global market.
Global oil markets have recorded some of the biggest price swings in history this week after the US-Israeli war with Iran throttled the flow of Middle Eastern crude through the strait of Hormuz.
In 2024, more than 80 percent of the oil and gas transported through the Strait of Hormuz went to Asia.
International oil prices have climbed 12 percent since the fighting began, trading Tuesday around $81 a barrel.
According to TankerTrackers.com, 55 oil tankers remain in Iranian waters — 18 laden with crude and 37 sitting empty.
Saudi Arabia, Iraq, the United Arab Emirates and Qatar are the most exposed as the majority of their seaborne crude and liquefied natural gas exports pass through Hormuz.
One of the world’s most vital maritime arteries saw a 70 percent drop in vessel traffic.
Shipping Traffic Through Strait of Hormuz Plummets After Attacks on Iran.
Iran relies on China to buy its exported oil.
Japan has already suspended dozens of Iranian assets.
The Iranian rial has sunk to a historic low.
In 1990, Israel’s GDP per capita was slightly higher than Iran’s; today, it is nearly 15 times Iran’s.
The country now operates at the frontiers of technology, which is why the Gulf states have been so eager to develop ties with it.
In the 1990s, Israel was closer to a run-of the-mill developing country.
Today, its per capita gross domestic product rivals many in Europe and is the highest in the region, except for Qatar.
Recently analyzed in Economy
While some price increases stemmed from tariffs on imports, other factors like housing and food costs played a larger role.
June inflation hit its highest level since February, fueled by Trump's tariffs increasing prices on various goods.
Prices are now starting to rise because of tariffs.
The risk is that investors begin to doubt that the United States will pay back its debts and start demanding higher interest rates, stunting borrowing across the economy.
The New York Times
The country is still on track to borrow what economists consider an alarming amount of money in the coming years.
The New York Times