Oil rose Wednesday, as Mideast tensions continue to escalate after the U.S. attacked Iran, while Tehran reportedly struck back at U.S. allies.

Oil prices rose nearly 1% in early trade on Wednesday, extending the previous session's surge, as concerns over supply disruption intensified after the U.S. and Iran exchanged ​strikes overnight, dimming hopes for a quick easing of tensions in the Middle ‌East.

Oil prices on Tuesday settled at their highest levels in nearly six weeks, after the U.S. military said it struck Iranian targets in the Strait of Hormuz in response to Tehran’s overnight attacks on ships transiting the vital waterway.

Oil prices have climbed and Asian shares have wavered as recurring violence in the Iran war heightens uncertainty over the future of the conflict

Samir Kapadia discusses the strategic implications of the U.S. securing oil concessions in Venezuela. He explains how the deal helps the White House counter influence from China and Russia while refilling domestic reserves.

The US government and an unnamed private operator in Venezuela formed a new company that was given the rights to untapped oil fields for 100 years.

The United States, under the current president, is in talks to acquire ownership stakes in Venezuela’s oil fields, potentially involving more than a dozen fields and a deal described as massive. The effort would significantly boost U.

The White House says a new oil deal with Venezuela could be on the way and could potentially bring help to US citizens.

Shein’s shares fell on its Hong Kong debut after years of failed attempts to list elsewhere. WSJ’s Stu Woo explains the challenges facing the Chinese fast-fashion giant and what’s fueling the city’s IPO boom.

Shein’s path to the public markets has never been easy. The Chinese-founded, Singapore-domiciled company originally wanted to list in New York and then London, but found the politics in both markets too hot to handle.

The fashion retailer lost 10% of its $26.3 ​bln market worth minutes ​after its Hong Kong debut. Even ⁠that requires optimism about ​revenue growth and margin improvement, ​which look hard to stomach after a 75% drop from its peak ​valuation.

Shares in fast-fashion online retail giant Shein have begun trading on Hong Kong’s stock exchange after a long delay

USMCA-compliant firms now face higher tariffs than competitors that built in Shenzhen as Section 338 duties stack on top of the trade agreement's rates.

At gathering of G20 finance ministers, the Treasury secretary accused Canada’s prime minister of starting a “political shouting match” over U.S. trade policies.

Canadian Prime Minister Mark Carney vowed “dollar-for-dollar” tariffs in response to the United States’ 50% tariffs on $20 billion in Canadian goods after the two sides failed to reach a trade deal. Carney’s tit-for-tat measures,

The U.S.-Canada trade standoff is threatening to stretch past the midterm elections. The White House is shrugging off the threat. With a week to go before Canada imposes its retaliatory tariffs — aimed at key industries in states like Ohio and Texas with competitive Senate elections — tensions between Washington and Ottawa are at a steady simmer,

Russian President Vladimir Putin and Chinese President Xi Jinping shake hands during a meeting on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek, Kyrgyzstan, August 31, 2026.

Vladimir Putin said digital innovations, particularly AI, were creating new opportunities for Russia's economic development.

The two leaders' meeting took place in a "friendly and constructive atmosphere" and focused on bilateral Russian-Chinese ties, Kremlin spokesperson Dmitry Peskov said.

Vladimir Putin and Xi Jinping are set to meet in Bishkek on August 31 as Russia faces fresh economic pressure from the Ukraine war. Their partnership remains strategically important, but the balance has tilted further toward Beijing.

Japan’s Finance Minister Satsuki Katayama said that she and Treasury Secretary Scott Bessent share the view that their recent joint intervention in the currency market was beneficial, while playing down reports that he has been pushing for the Bank of Japan to raise its policy rate.

A weak yen, which has pushed up import prices and broader inflation, has been blamed in part on the central bank's slow pace of rate increases Japanese Finance Minister Satsuki Katayama said on Monday she met US Treasury Secretary Scott Bessent and agreed that orderly yen movement is critical for global market stability.

U.S. Treasury Secretary Scott Bessent called for sound ‌monetary policy to anchor inflation expectations and avoid excessive currency volatility during his meeting with Bank of Japan ​Governor Kazuo Ueda,

Japan’s finance minister, Satsuki Katayama, is under pressure to strengthen the yen while balancing competing demands from the prime minister and Washington.