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Keywords: Oil supply
The war involving Iran has disrupted global energy markets, cutting about 8 million barrels of crude oil per day and a fifth of global liquefied natural gas supply. Far from the Strait of Hormuz, African energy producers are emerging as long-term beneficiaries of the shock. Major producers including......
Yemen’s Houthi forces launched their first direct strikes on Israel on Saturday, marking a new phase in the ongoing conflict involving the United States, Israel, and Iran. The escalation has raised concerns that the Red Sea, now a critical alternative route for oil shipments, could become a major......
The head of the International Energy Agency has declared that the global energy shock caused by the Iran war is the most severe on record, warning that no country will be spared its effects as oil prices surge and critical supply routes remain severed. IEA Executive Director Fatih Birol, speaking at......
The United Arab Emirates has expressed its willingness to participate in a multinational maritime initiative aimed at restoring navigation through the strategically vital Strait of Hormuz, according to international media reports. The proposed operation would involve a coalition of countries working......
Iran has likely collected hundreds of millions of dollars in additional oil revenue since the U.S.-Israeli military campaign began on February 28, exploiting its unique position as the only major Persian Gulf producer still able to ship crude through the Strait of Hormuz. The windfall represents a central......
The global energy market is facing its most severe disruption in decades, with the International Energy Agency warning that the oil crisis triggered by the Iran conflict now surpasses the scale of the shocks seen in the 1970s. Nearly a month after hostilities began on February 28, the closure of the......
Jet fuel prices have surged sharply in recent weeks, sending shockwaves through the global aviation industry as supply disruptions linked to the Iran conflict drive costs to levels not seen in decades. Data from the International Air Transport Association shows the global average price of jet fuel reached......
Goldman Sachs has sharply increased its oil price outlook for 2026, citing what it describes as the largest supply shock in history driven by the near-total disruption of flows through the Strait of Hormuz. The bank now expects Brent crude to average $85 per barrel this year, up from a previous forecast......
The world is facing an energy crisis more severe than the combined oil shocks of the 1970s, the International Energy Agency warned, as tensions between the United States and Iran escalate over control of the Strait of Hormuz. The warning comes as US President Donald Trump issued a 48-hour ultimatum......