latest news in economy
Saudi Aramco Suspends Major Refinery Operations After Drone Strike, Jolting Oil Markets
Ras Tanura, Monday, 2 March 2026.
Operations at the pivotal Ras Tanura refinery halted following a drone strike, driving Brent crude to $80 per barrel as the expanding Iran-Israel conflict threatens global energy supply lines.
Administration Links Future Rate Cuts to Projected AI Productivity Surge
Washington D.C., Monday, 2 March 2026.
The administration argues AI will mirror the 1990s internet boom to justify rate cuts, though economists warn the sector’s massive resource consumption could conversely spike near-term inflation.
Boston Real Estate Investment Pauses Amid Rent Control Concerns
Boston, Monday, 2 March 2026.
A major real estate investor is halting new Boston projects, managing $10 billion in assets. Citing policy uncertainties like rent control, they are diverting funds elsewhere, impacting Boston’s development.
Texas Ports Surge as Venezuelan Heavy Crude Imports Triple Under New Trade Deal
Houston, Sunday, 1 March 2026.
Following a $2 billion agreement, Venezuelan oil exports to the U.S. tripled in January 2026. Texas refineries are rapidly absorbing these heavy crude shipments to replace dwindling Mexican supplies, signaling a major shift in Gulf Coast energy dynamics.
US and Israel Kill Iranian Supreme Leader, Sparking Global Oil Supply Fears
Washington, Saturday, 28 February 2026.
On February 28, 2026, joint US-Israeli strikes killed Supreme Leader Ayatollah Ali Khamenei. Markets brace for extreme volatility and surging oil prices as the Strait of Hormuz faces potential closure.
