Gulf: Petroleum product production reduced by at least 10 million barrels/day (IEA)

Gulf countries are currently reducing their oil production by at least 10 million barrels per day, due to the blockade of the Strait of Hormuz, which is "the most significant disruption" to the supply of black gold in history, the International Energy Agency (IEA) said in a report on Thursday.

Stock markets: markets decline

European stock markets opened slightly lower on Thursday, caught up by a further rise in crude oil prices despite a record release of strategic oil reserves.

In Asia, Tokyo's Nikkei 225 index fell 1.5% to 54,177.15 points, while Hong Kong's Hang Seng index dropped 1.2% to 25,587.33 points. Sydney, Seoul, Wellington, Singapore, Taipei, Manila, and Jakarta also declined.

Oil: Brent rises above $100

The price of Brent crude from the North Sea, the global oil market benchmark, has temporarily risen above the $100 mark in Asian trading.

Its price rose 9.3% to $100.50 around 03:00 GMT, with the increase slowing to 5.33% to $96.88 around 08:30 GMT, and that of its US equivalent, WTI, to 4.65% to $91.31, pushing interest rates higher due to inflationary fears. The yield on the 10-year German bond was nearing 2.94% around 08:30 GMT, a high since October 2023, compared to 2.93% at Wednesday's close, and its French equivalent reached 3.59%, compared to 3.57% on Wednesday.

The US spent $11 billion in the first six days of the war.

The first week of the war against Iran cost the United States more than $11.3 billion, according to a Pentagon briefing of members of Congress, the New York Times reported Wednesday, noting that the figure excludes many costs related to preparing the strikes, suggesting that the final amount could be much higher.

TotalEnergies raises its maximum price for diesel to 2.09 euros

TotalEnergies announced on Thursday that it would maintain its cap on the price of petrol at 1.99 euros per litre at its service stations, but raised the cap to 2.09 euros per litre for diesel.

The distributor announces its commitment, "until the end of March", to "cap the price of petrol at 1.99 euros/L; and the price of diesel at 2.09 euros/L".

Cathay Pacific: fuel surcharge almost doubled

Hong Kong-based airline Cathay Pacific announced on Thursday an almost doubling of the fare surcharge, known as "fuel surcharge", for most of its routes.

The company released a detailed list of affected routes in a statement titled "Fuel Surcharge Updates".

Flights cancelled and possible "car-free days" in New Zealand

Air New Zealand has announced the cancellation of 1,100 flights over the next two months, mostly domestic flights, citing the impact of the war in the Middle East.

About 5% of the company's flights will be cancelled, affecting 44,000 passengers, said its boss, Nikhil Ravishankar.

Attack on oil tanks in Bahrain

Bahrain's Interior Ministry on Thursday called on residents of several localities to stay home after an attack, attributed to Iran, on hydrocarbon storage tanks.

Iran says it wants to target finance and tech companies

The Iranian military said Wednesday it wanted to strike "economic centers and banks" in the Gulf, while the Iranian news agency Tasnim cited American tech giants as "future targets" of Tehran.

Drone intercepted near a Saudi oil field

The Saudi Ministry of Defense announced on Thursday the interception of a drone heading towards the Shaybah oil field in the east of the country, which has already been targeted several times in recent days.