For a mega-refinery in Ulsan, South Korea, a top exporter of jet fuel to the West Coast of the United States and other places, weaning off Middle Eastern oil is no small feat.
Category: Middle East
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Lesson Learned From Iran War: Reduce Reliance on Strait of Hormuz
Increased stockpiles, more pipelines and other tactics could loosen the waterway’s stranglehold on the global economy.
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Mines, Logistics and Deep Uncertainty Threaten a Middle East Oil Rebound
More oil is getting out of the Persian Gulf, but the region’s producers are looking for signs that it is safe as they ramp up plans for alternative routes.
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Global Supply Shortages Deepen as War Drags On, Risking Jobs and Growth
After three months, the fallout of the closure of the Strait of Hormuz is spreading, with developing countries bearing the brunt of the shortfall.
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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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An Uncertain World Awaits the Reopening of the Strait of Hormuz
Fatih Birol of the International Energy Agency, who orchestrated a multinational release of oil reserves, detailed the risks facing the economy now and beyond.
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Luxury Brands Bet on the Middle East. War Has Damaged Their Plans.
High-end brands such as Louis Vuitton and Hermès are looking to other regions as sales in Persian Gulf nations plummet.
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China’s Electrostate Is Poised to Win From War in the Middle East
A cluster of Chinese firms is poised to win big from the energy crisis set off by the war in the Middle East, building on booming investment in artificial intelligence.
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I.M.F. Says Iran War Will Drag Global Growth Lower
Kristalina Georgieva, the head of the International Monetary Fund, said the war in the Middle East could lead to another bout of inflation and higher interest rates.
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Fresh Food Distributors Add Surcharges as Fuel Costs Rise
Delivering salmon, fruits and other perishable foods has become more expensive as the war with Iran pushes up diesel prices.
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This Is What Happens When the Gas Runs Out
With a cutoff in shipments imminent, Asian countries, the biggest importers of liquefied natural gas from the Middle East, are already burning more coal and reducing consumption.