The Trump administration eased sanctions on Venezuela's state-run financial system Tuesday to try to boost the country's economy amid protests by public workers demanding higher pay.
Why it matters: Venezuela's government-run bank and other large financial institutions can now begin legally using U.S. currency, directly receive billions of dollars in oil sales and reenter the U.S.-controlled global financial system to help its damaged economy.
The International Monetary Fund cut its 2026 global economic growth forecast Tuesday, warning of slower growth and higher inflation thanks to the Iran war.
Why it matters: The war and energy shock in tow has halted economic momentum — and even a rather short conflict will do real damage, it finds.
The Iran war brought global economic momentum to a halt, the International Monetary Fund said Tuesday, providing new projections for slower growth and higher inflation.
Why it matters: It is the latest major economic institution to warn about stagflation-like global economic fallout from the war. The conflict upended what was shaping up to be a solid year for the global economy.
Global oil consumption is slated to dip this year as high prices and scarce supplies bring "demand destruction," the International Energy Agency projected Tuesday.
Why it matters: It's a stunning reflection of the historic throttling of supplies from the Iran war.
Technology that captures carbon emissions from power plants may finally get a breakthrough as deep-pocketed tech companies try to meet climate goals while powering the AI race.
Why it matters: It could help make natural gas electricity cleaner, but it's long been too expensive. The AI boom could change that.
Oil prices jumped over 7% to well over $100 per barrel when markets opened Sunday evening and remained high into Monday.
Why it matters: The latest surge shows that traders don't see last week's U.S.-Iran ceasefire deal reviving large-scale tanker transit through the Strait of Hormuz — and it undoes a large amount of the price drop that followed the pause in hostilities.
