Keywords: Strait of Hormuz
French President Emmanuel Macron called for a diplomatic approach to Iran and rejected Washington’s strategy during a European Union summit, warning that escalating tensions risk destabilizing global markets. Speaking at the gathering in Agia Napa, he said negotiations with Tehran must rely on......
Global inflation data for March show a broad and immediate impact from the disruption of oil supplies following the escalation of conflict between the United States and Iran in late February. The closure of the Strait of Hormuz has triggered a sharp rise in energy costs, feeding into consumer prices......
The head of the International Energy Agency has warned that the disruption in the Strait of Hormuz may trigger lasting changes in global energy markets, even if the passage reopens. Executive director Fatih Birol said the era of heavy dependence on a single maritime chokepoint is nearing its end, adding......
The head of DHL Group has warned that the global economy is approaching a critical threshold as an oil supply deficit linked to the conflict involving Iran disrupts energy flows and trade. Chief executive Tobias Meyer said the impact on logistics operations is already significant, with mounting pressure......
Crude exports from Saudi Arabia rose to 7.276 million barrels per day in February, up from 6.993 million in January, reaching their highest level in several years. The increase of 283,000 barrels per day reflects a steady ramp up in output as the kingdom positioned itself amid rising geopolitical tensions......
Governments across dozens of countries are deploying emergency policies to shield households and businesses from a widening energy crisis triggered by the war involving the United States, Israel, and Iran. The disruption has been amplified by the closure of the Strait of Hormuz, which has removed roughly......
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,......
Fatih Birol said the conflict involving Iran and a coalition led by the United States and Israel has created the most severe global energy crisis on record, surpassing both the oil shocks of the 1970s and disruptions linked to the war in Ukraine. Speaking publicly on Tuesday, he said the combined impact......
Global agriculture is facing mounting pressure as fertilizer shortages spread across Africa and South Asia following weeks of disruption in the Strait of Hormuz. Although Iran announced a temporary reopening of the key maritime route on April 17 under a short ceasefire, supply chains remain strained.......
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