Concern that oil production and shipment from the region will remain limited has lifted the price of crude oil — the largest factor in the cost of a gallon of gas — sharply.
Category: Ships and Shipping
-
How the Iran War Could Hit Americans’ Wallets
Gas prices are rising, with the cost of food likely to follow. If the conflict drags on, the fallout for consumers could worsen, experts warned.
-
G7 Countries Hold Off on Releasing Emergency Oil Supplies
Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
-
Countries in Asia Try to Contain the Economic Fallout of the Mideast Conflict
Across Asia, where countries are highly exposed to rising oil and gas costs and tightening supply, governments are acting to mitigate economic harm.
-
Energy Secretary Says Tankers Could Start Moving Soon
“We’re not too long, I think, before you will see more regular resumption of ship traffic through the Strait of Hormuz,” Chris Wright said on CNN on Sunday.
-
Oil and Natural Gas Prices Extend Rally as Iran Attacks Escalates
Energy prices continued to rise on Tuesday as attacks by the United States and Israel on Iran intensified, along with the country’s response.
-
Trump’s ‘Whatever It Takes’ Rattles Global Markets
President Trump has signaled that he is open to the idea of a prolonged military conflict with Iran. Investors are spooked by that scenario.
-
What Rising Oil Prices Could Mean for Drivers in the U.S.
A prolonged conflict in the Middle East could cause a spike at American gas pumps, as the busy driving season approaches.
-
Beyond a Trade War, China, Japan and Others in Asia Face a New Energy Threat
China and its neighbors scrambled to soften the blow of a disorderly trade war. Conflict in the Middle East now threatens to disrupt the oil imports that power their economies.
-
Oil Shipments in Persian Gulf Already Disrupted by Iran Attack
Tankers have begun to steer clear of the region and the Strait of Hormuz, threatening to push up energy prices.
-
At World’s Busiest Port, China’s Unbalanced Economy Comes Into View
The shipping traffic and factories never stop in China’s port city of Ningbo, but the local housing market has crashed and nearby restaurants sit empty.