Iranian forces struck energy infrastructure across the Gulf on Thursday, triggering sharp movements in global oil and gas markets and widening a conflict that has now claimed more than 2,200 lives across four parties in 20 days. Brent crude, the international benchmark, surged past $116 a barrel while European gas prices rose more than 30 […]
The IEA is reacting to the effects of the conflict in the Middle East on the energy market. The Strait of Hormuz holds significant effects on the world economy and the energy security and affordability through the disruption of oil and gas flows through the Strait of Hormuz, and energy infrastructure in the region. The […]
Iran has categorically denied reports suggesting it gave special permission for India-flagged oil tankers to pass through the Strait of Hormuz, dismissing the claims as unfounded amid the ongoing conflict that has choked the vital shipping lane since late February. The controversy erupted yesterday when several Indian news outlets reported that Tehran had quietly agreed […]
U.S. Energy Secretary Chris Wright posted on X a little earlier today stating that the U.S Navy had escorted an oil tanker in the Strait of Hormuz, which is strategically important, in order to effectively guarantee that oil continued to flow into the world markets. The post was removed soon and it caused some confusion […]
• US suggested India absorb Russian oil waiting for Chinese refineries• Over 100 million barrels of crude currently floating offshore• Extra cargoes could benefit Indian refiners through discounted supply• Move aimed at cooling global oil prices amid Middle East tensions The United States has proposed that India reflect on absorbing over 100 million barrels of […]