Seven Middle Eastern countries have suspended commercial flights due to the fast-spreading virus. The aviation industry's largest trade association announced Thursday that airlines in the region have already lost more than $7 billion in revenue. The International Air Transport Association,...

U.S. senators on Wednesday raised pressure on Saudi Arabia and Russia to stop the price war that is sinking global oil prices as they held talks with the kingdom’s U.S. envoy and separately urged President Donald Trump to impose an embargo on oil from the two countries. Oil prices...

Oil prices plunged on Wednesday, with U.S. crude futures hitting an 18-year low, as governments worldwide accelerated lockdowns to counter the coronavirus pandemic that is causing global fuel demand to collapse. Oil futures have lost more than half their value in the past 10 days, as...

The United States has targeted a number of Chinese, Hong Kong and South African companies in a fresh round of Iran-related sanctions regarding petrochemicals, according to the U.S. State Department said in a statement on Wednesday. The entities targeted include Hong Kong-based Mcfly Plastic...