Economy
Crude imports across Asia are declining as the closure of the Strait of Hormuz approaches its eighth week, exposing the limits of alternative supply routes. Major importers including China, India, South Korea and Japan are struggling to replace Middle Eastern crude that previously moved through the corridor,......
Major Asian carriers including Cathay Pacific, Singapore Airlines, Korean Air and Qantas report a sharp increase in passenger demand on Europe-bound routes as travelers avoid Middle East hubs affected by the conflict involving Iran. The shift reflects a rapid reconfiguration of global air travel flows,......
A fire at a major Australian refinery has intensified fuel supply pressures across Asia, as regional markets already strain under disruptions linked to the Middle East conflict. At the same time, Japanese refiners are resorting to complex offshore oil transfers to secure crude supplies while avoiding......
Asian stock markets rose sharply on Thursday as investors reacted to renewed expectations of diplomatic progress between the United States and Iran. The surge pushed Japan’s benchmark Nikkei 225 beyond its previous closing record during intraday trading, reflecting growing confidence across regional......
China has lifted restrictions on some iron ore purchases from BHP, signaling a shift in a trade dispute that had disrupted global supply chains for months and unsettled commodity markets. A state-backed buyer, China Mineral Resources Group, informed steel producers they could resume bidding on selected......
The global aviation sector is confronting sustained disruption as jet fuel prices surge and supply tightens, with Corneel Koster warning that elevated fuel costs are likely to persist. The crisis follows the closure of the Strait of Hormuz, which has cut off roughly one fifth of global oil flows. Six......
The growing probability of a powerful El Niño event later this year is adding pressure to an already fragile global food system, as conflict in Iran continues to disrupt fertilizer supplies through the Strait of Hormuz. Economists and climate scientists warn that the combination of supply chain......
The war in Iran, which broke out in late February, is reshaping car-buying behavior across the world. As fuel prices surge on the back of oil supply disruptions, consumers in the United Kingdom and Australia turned to electric vehicles in record numbers in March 2026, according to recently published......
The worst energy crisis in modern history will ultimately accelerate the worldwide transition to renewables, nuclear power, and electric vehicles, International Energy Agency executive director Fatih Birol said in an interview published Tuesday by French daily Le Figaro. Birol described the current......
The world is facing an unprecedented energy crisis as disruptions to oil and gas supplies continue to intensify, raising concerns about global economic stability and inflation. According to the head of the International Energy Agency (IEA), the current situation represents one of the most severe energy......
The war in Iran has triggered a cascading energy crisis from Southeast Asia to Europe, with governments imposing fuel rationing, grounding aircraft, and shutting institutions as the closure of the Strait of Hormuz chokes off roughly one fifth of the world's oil and gas supply. Goldman Sachs has described......
Rising fuel costs driven by the ongoing conflict in the Middle East are reshaping Easter and spring holiday travel across multiple continents, forcing millions of consumers to cancel trips, shorten itineraries, or stay closer to home as the global tourism industry braces for a difficult season. In Australia,......
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......
