India relies on huge quantities of cooking gas that is normally shipped from the Persian Gulf.
Category: Ships and Shipping
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Countries Scramble to Shore Up Global Oil Supplies as Ships Are Attacked
The United States and Israel launched more strikes against Iran, where crowds mourned military commanders killed in the war. Israel also bombed targets in Lebanon, where the death toll climbed.
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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.
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At Least 3 Ships Are Struck In and Around the Strait of Hormuz
Three vessels were hit on Wednesday, according to a British maritime agency. The Strait of Hormuz is all but closed as war in the Middle East expands.
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Japan and Germany Say They Will Release Oil
Officials in Tokyo and Berlin said they planned to release oil from their strategic reserves to address disruptions of supplies from the Middle East.
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Since February, rising gas prices have added to inflation.
Gas prices don’t move in lock step with crude, usually trailing increases or drops by a few days.
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How Trump and His Advisers Miscalculated Iran’s Response to War
In the lead-up to the U.S.-Israeli attack, President Trump downplayed the risks to the energy markets as a short-term concern that should not overshadow the mission to decapitate the Iranian regime.
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Rising Fuel Costs Pressure Airlines and Truckers
The price of jet fuel and diesel has surged since the war in Iran began, which could force airlines and trucking companies to pass on higher costs to their customers.
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Gas Prices Hit $3.54 a Gallon, Up 19% Since Attacks on Iran
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.
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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.
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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.
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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.