Economics
Hormuz shutdown worsens after U.S. hits Iranian warship; tankers stranded for fifth day
The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralyzed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows.
India eyes alternative energy supplies amid Strait of Hormuz disruption
Shipping through the Strait of Hormuz between Iran and Oman, which carries around a fifth of oil consumed globally as well as large quantities of gas, has ground to a near halt after vessels in the area were struck as Iran hit back after U.S. and Israeli strikes.
India most vulnerable to prolonged disruptions to Mideast oil, analysts say
Both China and India, Asia's top energy consumers, source around half of their crude imports from the Middle East, but India has far less oil in storage than its neighbor and is more dependent on that region's crude now than in the last three-plus years.
Asia's jet fuel, diesel cash premiums hit multi-year highs on Mideast concerns
ITT completes acquisition of SPX FLOW
In December 2025, ITT announced it had entered into a definitive agreement to purchase SPX FLOW for a total consideration of $4.775 B, funded through a combination of cash and equity.
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