Why the US-Iran tensions are driving up oil prices

Marie-Hélène Poisson is the only craftswoman to be entirely dedicated to Boulle work. This French technique, invented at the end of the 17th century, consists of inlaying antique furniture with decoration made of brass or tortoiseshell. Marie-Hélène learned the trade from her father and is now passing it on to her daughter. The future of Boulle inlay is safe in their hands. FRANCE 24 takes you to the town of Vendôme, in France's Loir-et-Cher region, for a closer look at this special craft.

We take a look at the business of this year's Winter Olympics. A report suggests the true cost is 10 times more than the official $3.9 billion price tag, but Beijing is banking on other benefits. Also, Amazon reports another strong sales quarter, with its advertising business playing an increasingly significant role.

Russia's move to recognise the breakaway Ukrainian regions of Donetsk and Luhansk has sent ripples through global markets on Tuesday, with falls across Asia, and in early trading in Europe. Oil prices also jumped, with the international benchmark Brent Crude hitting its highest level since mid-2014. Investors are now focusing on which sanctions the United States, the United Kingdom and the European Union might impose on Russia in response.

Global stock markets have taken a beating as investors rush for safe havens amid an escalation in geopolitical tensions over Ukraine. Russian stocks and bonds as well as the ruble are among the biggest losers.

Victoria Scholar, head of investment at Interactive Investor, says the geopolitical volatility and limited supplies mean oil prices will continue to rise and are likely to pass well beyond the symbolic $100 per barrel level.

Crude oil futures touched 13-year highs on Monday as the US and UK signalled a willingness to include the previously untouched Russian energy sector in sanctions. Meanwhile, more US firms and Chinese social media giant TikTok are suspending Russian operations, and new UK laws to sanction Russian oligarchs could mean big changes for London's luxury real estate market.

French car giant Renault announced Wednesday it was immediately suspending operations at its Moscow factory after Kyiv called for a boycott of the company for remaining in Russia.

The price of oil tumbled in early trading on Thursday, after reports that the United States was preparing to release more oil from its strategic reserves in a bid to bring down the cost for consumers. President Joe Biden is due to make an announcement later this Thursday. It would be the second time this month that the US has released oil from its stockpile. Also today, we look at how French consumers are preparing for a potential shortage of sunflower oil due to the war in Ukraine.

The coronavirus pandemic forced many companies to halt business travel almost overnight. The economic consequences for airlines and hotels have been dramatic, leaving many to wonder if corporate travel will bounce back.

The former US president has been fined $10,000 per day until he complies with a New York court order to turn over documents as part of an investigation into his business practices.

More European businesses in China are looking to shift their investments due to the country's strict coronavirus lockdowns, according to the European Chamber of Commerce.