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Palantir, Energy Stocks Rally, Cruise Lines Tumble On Iran War - Figure Technology (NASDAQ:FIGR)
Iranian attacks and QatarEnergy's halt of LNG output caused oil prices to surge nearly 9% while global stocks fell and investors favored the dollar and gold.
- Following reports of attacks involving Iran, Qatar's energy firm halted LNG output on Sunday, causing prices to surge and markets to decline.
- Amid the widening Iran war, several ships were attacked and the Strait of Hormuz was described as effectively shut, with OPEC+ announcing a larger-than-expected production increase on Sunday.
- Investors moved into safe havens, with gold climbing to $5,382.60 an ounce, as world crude futures surged nearly nine percent amid Strait of Hormuz disruptions.
- Airlines were forced to cancel flights and Dubai's airport was hit, while energy majors Shell and TotalEnergies and defence firms BAE Systems and Palantir gained.
- Economists cautioned that if disruption endures, the supply gap is 'just too big,' and prices could exceed $100, amid fears of prolonged Hormuz shutdown.
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Palantir, Energy Stocks Rally, Cruise Lines Tumble On Iran War - Figure Technology (NASDAQ:FIGR)
Wall Street traded firmly higher at midday in New York on Monday, reversing overnight futures losses as investors brushed aside escalating tensions in the Middle East.
·New York, United States
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Government must intervene in blatant price gouging by energy companies amidst turmoil in Gulf States
The government must take urgent action to prevent price gouging by energy companies as the situation in the Middle East continues to worsen, according to Social Democrats energy spokesperson Jennifer Whitmore TD. Deputy Whitmore said: “There are reports today that the cost of home heating oil is already soaring. This is outrageous. Any company selling home heating oil today did not buy its stock at an inflated rate post-conflict. It is supply th…
Coverage Details
Total News Sources21
Leaning Left3Leaning Right3Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 23%
C 54%
R 23%
Factuality
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