An analysis of oil export data offers clues about which nations have benefited from higher prices, and which have lost a lot of revenue.
Category: Persian Gulf
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A Fact Check of Trump’s Claims on Inflation and Gas Prices in Iran War
He has minimized soaring gas prices, rising inflation and the American economy’s need for the Strait of Hormuz.
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What You Need to Know About the Federal Gas Tax
President Trump said he would like to suspend the 18.4-cent-a-gallon tax, but it’s a move that may save drivers only a few dollars a month.
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Nations Brace for Long-Term Economic Woes as Trump Calls Iran Truce Plan ‘Garbage’
President Trump said the fragile cease-fire was on “life support,” and India’s leader urged residents to cut back on purchases and travel.
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Maersk Ship Passed Strait of Hormuz Under U.S. Military Protection
A U.S.-flagged ship operated by a Maersk subsidiary exited under American military guidance, part of President Trump’s effort to encourage ships to pass the Strait of Hormuz.
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Confusion in Strait of Hormuz Leaves Shipping Firms Guessing
The United States vowed to help tankers navigate the perilous conditions that have kept them stranded in the Persian Gulf, but it remained unclear if companies would try to get out.
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Loss of Emirates Further Weakens OPEC’s Influence
The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.
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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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Strait of Hormuz May Not Return to Normal, Whether It’s Open or Closed
The energy industry is planning for a future where the choke point on Iran’s southern coast is a lot less important.
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Reopening Strait of Hormuz Would Ease Oil Crisis but Only So Much
Analysts said energy and shipping companies would be reluctant to fully restore operations until they were confident that hostilities were over.
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Oil Prices Fall Sharply After Iran Says Strait of Hormuz Is Open
But analysts said it was not clear how quickly the oil industry in the Persian Gulf would be able to get back to normal.