Dossier
Asian economies
Coverage of Asian economies in the Nexus archive.
- Report: Disruption of Mideast energy supplies into next year would slam global economy
The OECD warns that prolonged disruption of Middle East energy supplies due to the Iran war could severely harm the global economy, causing recessions, inflation, and higher unemployment. Asian economies reliant on Persian Gulf energy and poorer countries spending more on fuel would be hardest hit, with global growth slowing significantly.
- Oil prices rally on Hormuz talks but will Asia’s energy woes ease?
Oil prices dropped sharply due to hopes of the US and Iran reopening the Strait of Hormuz, but analysts suggest Asian economies may not quickly recover from the energy crisis. Benchmark Brent crude oil fell 11.15% to $92.13 per barrel, its steepest weekly drop since early April, though prices later rose to around $93 per barrel.