Global oil stocks fell by a record 200 million barrels in April amid Middle East conflict, tightening supplies and raising energy market volatility with broad fintech sector implications.
US Treasury Secretary Scott Bessent confirms no further extensions for sanctions exemptions on Russian and Iranian oil shipments already at sea.
Lufthansa plans to cancel 20,000 flights and retire older aircraft to reduce aviation fuel consumption by over 40,000 tons amid the ongoing energy crisis.
The US has extended its waiver on sanctions for Russian oil shipments until May 16, raising concerns about sanction evasion and implications for fintech compliance and digital payments.