Wednesday 01 - 17:16
Asian countries are confronting a worsening energy crisis as two simultaneous disruptions have removed roughly 30% of global liquefied natural gas supply from the market, according to the Australian Financial Review. The crisis began on March 2, when Iranian drone strikes hit the industrial cities of Ras Laffan and Mesaieed in Qatar, forcing......
TotalEnergies generated more than $1 billion in profit this month by cornering the Middle East crude oil market during one of the most volatile periods in energy trading history, according to reporting by the Financial Times and Bloomberg. The French energy giant's trading arm purchased 69 cargoes of benchmark Dubai crude through the......
Four weeks into the war between the United States, Israel and Iran, the near-total paralysis of the Strait of Hormuz has blocked one third of global seaborne fertilizer trade, triggering a price surge and prompting the United Nations to warn of a "systemic shock" to global food systems as planting seasons begin across the Northern......
The war in Iran, now entering its second month, is sending cascading economic shockwaves across Southeast Asia, where surging energy costs are rapidly translating into food insecurity and social unrest. The United Nations Food and Agriculture Organization warned Thursday that the conflict in the Persian Gulf "has triggered one of the......
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 National Press Club of Australia in......
The European Central Bank faces classic stagflation pressures from the Iran war: surging energy prices pair with stagnant growth, forcing rate hike considerations officials hoped to avoid. ECB President Christine Lagarde told The Economist in a Thursday interview that conflict-linked energy disruptions may endure for years. She called quick......
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 paradox of the conflict: the war has......
The Middle East war now threatens to slow US liquefied natural gas export capacity expansion. It disrupts one-fifth of global supply and spikes prices in Europe and Asia. Freeport LNG CEO Michael Smith warned Wednesday at S&P Global's CERAWeek conference in Houston. Supply chain issues from the US-Israeli war on Iran could delay new......
The European Bank for Reconstruction and Development cautioned Tuesday that the ongoing Middle East conflict threatens economic growth across its regions. Higher energy costs, supply chain disruptions, and tighter financial conditions pose risks. Forecasts could drop 0.4 percentage points if oil prices stay elevated. In its report "Potential......
At least 11 liquefied natural gas tankers originally bound for Europe have been redirected to Asia since early March, as buyers in the region outbid European importers for limited cargoes following the escalation of war in the Middle East. Data from MarineTraffic shows the rerouting trend as disruptions around the Strait of Hormuz removed......
The closure of the Strait of Hormuz has escalated into one of the most severe energy crises in decades, cutting off around 20 percent of global oil supply and sending shockwaves through food and industrial supply chains. As the conflict between the United States and Iran enters its fourth week, the scale of damage and disruption continues......
Morgan Stanley has upgraded its ratings on major US liquefied natural gas exporters Cheniere Energy and Venture Global, reversing bearish positions taken weeks earlier as global supply expectations shift בעקבות disruptions in Qatar. Analyst Devin McDermott raised Cheniere to overweight from equal weight and increased its price target......
Italian Prime Minister Giorgia Meloni is set to visit Algeria this week as Italy moves to secure alternative gas supplies following disruptions in deliveries from Qatar. The supply issues are linked to escalating tensions in the Middle East, which have affected energy infrastructure and export capacity. Algeria has emerged as a key partner......
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