After three months, the fallout of the closure of the Strait of Hormuz is spreading, with developing countries bearing the brunt of the shortfall.
Category: Far East, South and Southeast Asia and Pacific Areas
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The War-Driven Supply Shock Already Roiling Manufacturing in Asia
A shortage of naphtha, stemming from the blockade of the Strait of Hormuz, is disrupting manufacturing and retail goods in Japan and South Korea.
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Fuel Prices Drive Sales of E.V.s, Just Not in the U.S.
Electric vehicle sales have soared in Europe and much of the rest of the world, but Americans are still hesitant.
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These Countries Embrace E.V.s to Avoid Oil Price Shocks
People in Costa Rica and other Latin American, Asian and African countries are increasingly buying electric vehicles to avoid spiking fuel prices.
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The World Needs Natural Gas Now, but the U.S. Is Exporting All It Can
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
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Why Diesel Has Become a Much Bigger Economic Problem Than Gasoline
The war in Iran has disrupted supplies of diesel, used to power trucks and heavy equipment, much more than gasoline, which is primarily used in passenger cars.
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Japan Pledges $10 Billion to Help Countries Cope With Oil Prices
With supply chains at risk, the aid to Southeast Asian nations is aimed at securing the availability of oil-based products, including medical equipment.
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Iran War Drives Deeper Oil Shock Than Prices Reveal
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
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Why the Iran War May Force Countries to Rely Less on Natural Gas
The U.S. and other exporters are poised for a windfall, but disruptions to Persian Gulf supplies are also pushing gas-buying countries to consider alternatives like coal, solar and nuclear energy.
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Iran Keeps a Tight Grip on Strait of Hormuz, Pressuring Shipping and Energy Sectors
Iran has allowed a small number of vessels to pass, but that won’t alleviate pressure or risk for the shipping industry and energy markets any time soon.
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The Iran War’s Economic Threat to Europe and Asia
Inflation and its consequences for growth is a growing concern for countries where memories of the 2022 energy crisis are fresh.
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As War Chokes Natural Gas Supply, Asia Turns Back to Coal
Across Asia, a sharp drop in liquefied natural gas supplies is pushing major importers back toward coal, undermining L.N.G.’s long-held role as a stable energy anchor.