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: Oil (Petroleum) and Gasoline
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BP’s Former Chairman, Albert Manifold, Disputes How Company Characterized His Dismissal
Albert Manifold, who was abruptly fired less than a year after he was appointed, said he was let go “without explanation.”
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Oil Prices Fall as Uneasy Truce Holds Between U.S. and Iran
Oil/Stocks/Gas hed
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BP Ousts Chairman, Citing ‘Serious Concerns’ Over Conduct
The British oil group said that Albert Manifold had been removed, after concerns were raised “related to important governance standards, oversight and conduct.”
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How Delta Steered Around Airline Industry Chaos
The carrier has become the country’s most profitable by catering to affluent travelers, but it is facing stiffer competition from United.
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Global Oil Price Rises After U.S. Strikes in Iran Cloud Peace Deal
Optimism for a resolution to the conflict and the reopening of the Strait of Hormuz was checked after the United States said it had carried out strikes on missile launch sites in Iran.
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Even After a Strait of Hormuz Deal, Moving 1,500 Ships Won’t Be Easy
An agreement to reopen the waterway would be followed by a complicated process of navigating a backlog of vessels stranded for nearly three months.
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Oil Prices Fall on News of Possible Iran Deal
S&P 500 futures were up slightly in what may be a sign that investors and analysts are waiting to see if a deal is finalized.
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Reopening of Strait of Hormuz Still a Question Mark
Without the details of a formal agreement, it is unclear how soon normal shipping will resume and when oil prices will start to come down.
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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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Oil Prices Jump on Impasse Over Reopening the Strait of Hormuz
Nearly three months since the fighting began, disagreements remain over the fate of Iran’s uranium stockpile and transit fees for the Strait of Hormuz.
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Thousands of Miles From the Iran War, Asia’s Currencies Feel the Strain
Soaring oil prices and a surging dollar are testing Asia’s foreign-exchange reserves, which were built up after the 1997 crisis.