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July 04, 2026
 

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OIL

A woman walks past an anti-U.S. billboard depicting U.S. President Donald Trump and the Strait of Hormuz, in Tehran on Sunday.
WORLD / Politics
May 19, 2026
Trump says he paused attack on Iran as negotiations continue
An Iranian source said the U.S. may agree to release some of Tehran’s frozen funds and show more flexibility toward peaceful nuclear activity under supervision of the IAEA.
Cargo ships in the Persian Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the U.S.-Israeli conflict with Iran, in United Arab Emirates, on March 11
BUSINESS / Economy
May 18, 2026
Iran war saddles global companies with $25 billion bill — and counting
Businesses are grappling with soaring energy prices, fractured supply chains and trade routes severed by Iran’s chokehold on the Strait of Hormuz.
The war in Iran is fueling currency crises in energy-importing countries, underscoring the need to accelerate the transition to electric vehicles and renewable energy to shield economies from fossil-fuel shocks.
COMMENTARY / World
May 18, 2026
The energy crisis is becoming a currency crisis
The biggest losers include the Egyptian pound, the Philippine peso, the South Korean won and the Thai baht.
A ship suspected of belonging to Russia's "shadow fleet," which was boarded by the Swedish coast guard outside Trelleborg, southern Sweden, on May 3
WORLD
May 18, 2026
Russia expands LNG dark fleet with four tankers to boost exports
The developments mean that there are now at least 20 tankers being used to ferry LNG from sanctioned Russian projects, according to tracking data.
A ship remains anchored in the Strait of Hormuz near Larak Island, Iran, on Saturday.
WORLD / Politics
May 18, 2026
U.S. and Iran far from Hormuz deal as Trump says clock is ticking
Iranian threats on shipping in the Persian Gulf have brought the region’s energy exports to a near-standstill, giving Tehran significant leverage in talks with the U.S.
Leaders and other officials of the Association of Southeast Asian Nations pose for a group photo during the opening ceremony of the 48th ASEAN summit in Cebu, Philippines, on May 8.
COMMENTARY / World
May 17, 2026
Why ASEAN chose silence amid the growing Gulf crisis
In Cebu, much of the summit’s energy went into drafting a statement broad enough to avoid offending any member state.
U.S. President Donald Trump attends a dinner event in the Rose Garden of the White House in Washington on May 11.
WORLD / Politics / ANALYSIS
May 16, 2026
Trump’s geopolitical brinkmanship has hit a wall with Iran
The continuing impasse with Iran comes as Trump faces domestic pressure over high U.S. gasoline prices and his own low approval ratings.
Japan’s corporate goods prices in April posted their biggest rise in 12 years, driven by higher oil and naphtha prices, the Bank of Japan said.
BUSINESS / Economy
May 15, 2026
Japanese producer prices jump by the most since 2014, backing case for rate hike
The measure of input prices for Japanese firms rose 2.3% in April from a month earlier, a full point above the highest estimate in a survey of economists.
A man fuels up his vehicle at a gas station during a gas giveaway event in Chicago last month. More than 6 in 10 Americans say their household's finances have taken a hit from higher gas prices, according to a poll taken in May.
WORLD / Politics
May 15, 2026
White House scrambles for gas-price relief as Iran war drags on
Gasoline prices are averaging more than $4.50 a gallon nationwide, and historically, $4 per gallon has been a level that triggers public backlash and economic anxiety.
An Eneos gasoline tanker truck in Yokohama. An Eneos crude oil supertanker has passed through the Strait of ​Hormuz, ship-tracking data shows.
BUSINESS / Companies
May 14, 2026
Japanese crude tanker emerges outside Hormuz in rare transit
The tanker is listed as part of refiner Eneos Holdings’ fleet.
The Reserve Bank of India headquarters in Mumba on April 8
BUSINESS / Economy
May 14, 2026
War turmoil saps Asian reserves with Philippines and India hit most
The slide in reserves adds to evidence that Asia has been one of the biggest losers from the Middle East conflict due to its reliance on energy imports.
Many municipalities across Japan say buzz online and anxiety over the situation in the Middle East has led to people panic buying garbage bags.
JAPAN / Society / FOCUS
May 13, 2026
Designated trash bags run low in Japan as fears grow over supply shortages
Reports of a naphtha shortage have driven some to hoard city-designated trash bags needed in some areas to dispose of waste.
Prime Minister Sanae Takaichi instructed industry minister Ryosei Akazawa to work to further increase the rate in July of crude oil procurement from sources outside the Middle East.
BUSINESS / Economy
May 13, 2026
Japan to procure 70% of its oil for June from outside Middle East
Prime Minister Sanae Takaichi also instructed industry minister Ryosei Akazawa to work to further increase the rate of crude oil procurement from alternative sources in July.
Mutual overconfidence and strategic miscalculation by both the U.S. and Iran are making renewed war increasingly likely because neither side fully understands the other’s strengths, weaknesses or willingness to endure pain.
COMMENTARY / World
May 13, 2026
The risk of the Iran war restarting is irrationally high
So long as the ceasefire holds and Hormuz remains blocked, the conflict is now a test of how well each side can withstand the economic and political strain inflicted by the other.
An annual rally to commemorate the 1979 Islamic Revolution in Tehran on Feb. 11, 2023. Iran has retained roughly 70% of its prewar missile stockpile, according to U.S. assessments.
WORLD / Politics
May 13, 2026
U.S. intelligence shows Iran retains substantial missile capabilities
Iran has retained roughly 70% of its prewar missile stockpile, according to U.S. assessments.
A passenger aircraft operated by Deutsche Lufthansa in Frankfurt, Germany, on April 13. The airline group — Europe’s largest — said it’s scrapping 20,000 uneconomic short-haul flights in the region this summer.
BUSINESS / Markets
May 13, 2026
How a jet fuel supply crunch threatens summer flights
Faced with higher fuel costs and lower supply, airlines have axed thousands of flights, grounded less-efficient aircraft and raised airfares.
Commuters drive past an anti-U.S. billboard referring to President Donald Trump and the Strait of Hormuz, installed on a building at the Valiasr Square in Tehran on May 10.
WORLD / Politics
May 13, 2026
Iran says U.S. must accept its peace plan or face ‘failure’
The war has spread throughout the Middle East and roiled the global economy despite the ceasefire, impacting hundreds of millions worldwide.
The first shipment of Central Asian oil arrived in Japan as the country seeks to diversify supply sources amid the effective closure of the Strait of Hormuz due to the war in Iran, according to the industry ministry.
BUSINESS
May 12, 2026
Crude oil from Azerbaijan arrives in Japan
Japan received the shipment of U.S. oil in late April and Russian oil earlier this month.
A tugboat guides the crude oil tanker Odessa, carrying UAE crude, after passing through the Strait of Hormuz this month.
COMMENTARY / World
May 12, 2026
Is the global financial system making the Hormuz shock worse?
The system is functioning as designed. It was built for a world of episodic shocks and orderly recoveries, not one characterized by persistent, overlapping sources of disruption.
An Iranian woman walks past an anti-Israeli mural on a street in Tehran on Monday.
WORLD / Politics
May 12, 2026
Trump says Iran ceasefire is ‘on life support’ as hopes for a deal fade
Disruptions in the Strait of Hormuz have forced oil ​producers to cut exports, and OPEC output dropped to the lowest in more than two decades.
‘My dream is broken’: Japan visa rules push out foreign residents
A man orders from a kebab shop in the Okubo district in Tokyo.
Japan triples departure tax in push to combat overtourism
Tourists in Yanaka Ginza, Tokyo, on Wednesday. Japan tripled its International Tourist Tax (departure tax) to ¥3,000 from ¥1,000 on Wednesday for all travelers leaving Japan, regardless of nationality.
Japanese-language education is at a turning point
The country is gradually transforming Japanese-language education from a volunteer-driven system into a professional, government-supported network to better serve its growing foreign population. 
Japan’s princesses face life-altering legal revisions
Princess Aiko, the daughter of Emperor Naruhito, said in a 2022 news conference upon coming of age that she hopes to “spend a long time together” with her parents.
Japan plans to sharply raise fees for residence permits from October
Foreign tourists walk on the path leading to the Kiyomizu Temple in Kyoto in May.
Iran war exposed, but hasn’t changed, Japan’s reliance on imported oil
Wind turbines generate energy from strong easterly winds on the Shonai Plain in Yamagata Prefecture. Despite the oil crisis caused by conflict near the Strait of Hormuz, and concerns instability in the region could continue to impact supply and the price of imports, the administration of Prime Minister Sanae Takaichi does not seem to be drawing on the war as a pretext to hasten progress toward Japan's renewable goals.
Six of the best: rikishi of note in each sumo division
Kazuma (right) faces off against future <i>yokozuna</i> Onosato during the All Japan Amateur Sumo Championships at the Ryogoku Kokugikan in Tokyo in December 2020.
Some startups see opportunity in an aging Japan
Yasmin Baba, CTO of Amilis, wins the Grand Prize at the Pitch2Tokyo Grand Final on Feb. 19.
Japan’s fertility system offers few safe paths for same-sex couples
A Tokyo Pride parade participant holds a sign that says "we want to be a married couple, not a couple."
Life inside Japan’s largest prison for women
Western-style rooms spanning the size of four tatami mats with hardwood floors, a toilet and soft mattresses on bed frames are designated for foreign nationals and those with health conditions at Tochigi Prison.

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