Bloomberg
Asia Braces for Worst-Case Energy Scenarios as Iran War Drags On
Asia's energy-dependent economies are moving into crisis-planning mode as the Iran conflict shows no sign of a swift resolution, threatening the flow of oil and gas through critical Middle East shipping corridors. The disruption poses an acute risk to nations like Japan, South Korea, and China, which rely heavily on Gulf imports to keep their economies running. Even with Washington working toward an exit strategy, governments are refusing to bet on a quick fix.
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Bloomberg
US Mortgage Rates Jump Further to Five-Month High of 6.43%
US mortgage rates rose for the third consecutive week, reaching 6.43%—a five-month high not seen since October. The sustained climb is squeezing prospective buyers and homeowners alike, dampening both purchase demand and refinancing opportunities. With borrowing costs trending upward, affordability pressures in an already tight housing market stand to worsen.
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Bloomberg
Fire at Russia’s Ust-Luga Oil Port on Baltic After Drone Attack
Russia's Ust-Luga oil port on the Baltic Sea caught fire Wednesday following a drone assault in which 56 unmanned aerial vehicles were intercepted over the Leningrad region. The attack marks the latest in a sustained campaign targeting Russia's energy export infrastructure. Ust-Luga is one of Russia's most strategically significant oil terminals, handling a substantial share of the country's seaborne crude and petroleum product exports.
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