The surge in energy prices triggered by the conflict in the Middle East has significantly strengthened the dollar, paradoxically undermining US President Donald Trump’s economic objectives.

Only 77 ships have so far crossed the Strait of Hormuz in March as the Mideast war disrupts one of the world’s most vital shipping routes, a maritime data firm reported Friday.

The war in the Middle East has largely paralysed the Gulf region’s crucial oil industry, which has been hit by attacks and an export blockade.

No possibility of a commodity price hike either, he said at an Iftar and Eid gift distribution ceremony in Sylhet

For Bangladesh, these moves are more than distant geopolitical gestures

With more dollars needed to purchase oil, the greenback has appreciated by around 2.5 percent since the start of hostilities

The Middle East accounted for 9.8 percent of global container trade last year

Brent crude closed at $103.14 per barrel

Oil and gas prices have surged since US-Israeli strikes on Iran killed its supreme leader and plunged the Middle East into war

Gold prices fell on Thursday, weighed down ‌by a firmer US dollar and waning hopes for near-term US interest rate cuts as higher energy prices stoked inflation concerns.

With production in the Gulf countries at a standstill and gas prices rising, the war in the Middle East is disrupting the supply of fertilisers and posing risks for food security.

When US and Israeli forces launched airstrikes on Iran, the shock waves were felt far beyond the region. As the conflict escalates, understanding who benefits from this crisis might be as important as counting its costs.

Banks in the region sent staff home in response to a deepening Middle East conflict

"China opposes using it as an excuse for political manipulation," ministry spokesman Guo Jiakun said

​An Indian source ‌said ⁠on Thursday

The dollar advanced against the euro, yen, sterling and kiwi for a third straight day

Brent jumped more than nine percent to hit as high as $101.59 a barrel

Gold edged higher on Wednesday on safe-haven demand and as ‌a retreat in oil prices calmed inflation worries, reviving expectations for potential Federal Reserve rate cuts this year as investors awaited US CPI data that may offer more cues.

Oil prices rebounded on Wednesday as markets doubted whether the International Energy Agency’s reported plan for a ​record release of oil reserves could offset potential supply shocks from the US-Israeli conflict with Iran.

Bangladesh imports crude and refined fuel oil from a range of countries, including in the Middle East, to meet its annual demand of roughly 70 lakh tonnes