Files proving legitimate expenses ‘disappeared’, ex-Opec chief tells court
Diezani Alison-Madueke denies seeking or taking bribes as minister in Nigerian government
Economic news
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Opec production falls more than a quarter as Iran war hits oil exports
Output dropped by biggest volume on record in March with closure of Strait of Hormuz hitting producers around the Gulf
Oil prices soar above $100 a barrel
Crude had stabilised on optimism that a deal could be reached to reopen the Strait of Hormuz
Bank of England wins US approval for new way to rescue failed lenders
Regulators gain more flexibility if ‘bail-in’ process is required in response to a crisis
Why time is on Iran’s side
A global energy crisis is only just beginning. Political turmoil will follow
Hormuz blockade could deepen world’s worst energy crisis — and risk a dangerous misstep
The U.S. naval blockade of the Strait of Hormuz threatens to halt more tanker traffic, sending oil surging and risks drawing China into a widening confrontation with Washington.