A Ukrainian drone strike hit a fuel reservoir at Russia’s Primorsk port on April 5, 2026, causing a fuel leak. The attack on the Baltic Sea export hub disrupted air traffic and is part of Kyiv’s campaign against Russian energy infrastructure.

Government ends blanket subsidies, introduces targeted relief for motorcyclists, farmers and transporters after oil prices surge amid Iran war ISLAMABAD

Iran’s parliament has approved a plan to impose $2 million tolls on vessels transiting the Strait of Hormuz

The Philippines declares energy emergency on March 24, 2026, as President Marcos cites Strait of Hormuz closure and Middle East conflict threatening the nation’s fuel supply and energy stability.

Sri Lanka has raised fuel prices for the third time in less than a month, with auto diesel rising 36 per cent since February, as the island nation grapples with soaring global oil costs triggered by the ongoing conflict in the Middle East.

Russia accuses Ukraine of reckless drone strikes on the TurkStream gas pipeline, accusing Kyiv of attempting to halt energy supplies to European consumers.

Asian countries are scrambling to contain a deepening energy crisis following the closure of the Strait of Hormuz, with governments from South Korea to Bangladesh capping fuel prices, rationing supplies, and imposing emergency working-from-home measures.

Global oil prices have cratered more than 10 percent in one of the most dramatic reversals in energy market history, plunging from three-year highs above $119 per barrel to below $85 as diplomatic signals and potential intervention by major economies calmed supply fears.

Global oil prices have surpassed $100 per barrel for the first time since 2022 as the escalating Iran-Israel-US war disrupts shipping through the Strait of Hormuz, removing 20 million barrels from daily supply and forcing G7 ministers to consider emergency reserve releases.

The ILO’s Employment and Social Trends 2026 report reveals stable global unemployment at 4.9% masks deteriorating job quality, with 2.1 billion in informal work and 260 million youth disengaged from employment or education.

China sets lowest GDP target in decades (4.5-5%) at NPC. Li Qiang announces 4% fiscal deficit, 1.9T defense budget, 700M tonnes grain as 15th FYP begins.

A structural analysis of how GDP, inflation, trade, exchange rates, sovereign debt, and central banking interact to shape the modern global economy.