Keywords: Oil supply disruption
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......
Iranian drones struck the Mina al-Ahmadi oil refinery in Kuwait on Friday morning, igniting fires across multiple operational units in the latest attack on Gulf energy infrastructure since the U.S.-Israeli air campaign against Iran began in late February. Kuwait Petroleum Corporation told the official......
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......
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......
Oil prices rose sharply on Tuesday as renewed concerns over the Strait of Hormuz erased the previous day’s relief rally, highlighting ongoing disruption in one of the world’s most critical energy corridors. Brent crude climbed nearly 3 percent to around $103 per barrel, while US benchmark......
Oil prices climbed above 100 dollars per barrel on Monday as the conflict involving the United States, Israel, and Iran entered its third week, with a drone strike on the port of Fujairah in the United Arab Emirates intensifying concerns about global energy supply disruptions. Brent crude traded near......
Commercial shipping through the Strait of Hormuz has halted completely as the conflict involving Iran enters its third week, marking one of the most severe disruptions to global energy supply chains in decades. Maritime analytics firm Windward reported that vessel traffic through the strategic waterway......
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