Feb 4, 2026

Tunisia Appeals Court Extends Rached Ghannouchi’s Prison Term by 20 Years$

Rached Ghannouchi, the 84-year-old leader of Tunisia’s Ennahda party, has had his prison sentence increased to 20 years in a case known as “Conspiracy 2,” pushing his cumulative jail time from multiple convictions to more than four decades. His defense team says he will not seek a final appeal, denouncing the charges as politically driven and warning that the ruling deepens Tunisia’s crackdown on organized opposition.
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Global Energy Markets Jolt as Iran War Disrupts Gulf Oil Flows$

Oil prices surged toward $119 per barrel as the conflict involving Iran disrupted tanker traffic through the Persian Gulf, forcing several Gulf producers to reduce output and pushing governments to consider emergency energy measures. Saudi Arabia joined Iraq, Kuwait, Qatar, and the UAE in cutting production as shipments stalled and storage capacity tightened. With hundreds of tankers idling near the Strait of Hormuz and major shipping insurers suspending coverage, the crisis is rapidly evolving from a regional military conflict into a global energy shock.

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Energy Markets Are Reacting to Iran, But Not Panicking Yet$

Energy markets often react before the rest of the economy when geopolitical crises erupt. Oil has surged toward $90 per barrel as traders price the risk of disruption around the Strait of Hormuz, while European natural gas remains relatively calm but structurally exposed through LNG shipping routes. Together, the charts suggest markets are pricing risk, not yet a supply shock, as the conflict involving Iran enters its early phase.

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