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: Shortages
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War and Energy Shortages Boost China’s Influence in Asia
The war in Iran has left China’s neighbors appealing for help, handing Beijing the kind of sway it has long sought.
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‘City of Glass’ Is Under Threat From Iran War
In India, Firozabad has depended on its glassmaking industry for centuries. Fuel prices are starting to shatter businesses already under pressure.
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How Jet Fuel Shortages Could Affect Summer Travel to Europe and Beyond
Facing sky-high fuel costs linked to the war in Iran, airlines are cutting routes and raising prices. European vacations are looking a lot less affordable.
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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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Lufthansa Cuts 20,000 Flights to Save Fuel Amid Iran War Price Surge
Global jet fuel prices have jumped more than 70 percent since the start of the war, pressuring airlines in Europe, the largest consumers of jet fuel shipped through the Strait of Hormuz.
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Hoarding Is Driving Energy Prices Higher Everywhere
As wealthy nations scramble to secure stocks of oil, the result is higher prices for all and shortages in vulnerable countries.
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European Airlines Face Fuel Shortages Within Weeks
If tankers do not soon begin crossing the Strait of Hormuz, airlines in Europe may not have enough jet fuel to operate all of their flights.
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Japan Pledges $10 Billion to Help Countries Cope With Oil Prices
With supply chains at risk, the aid to Southeast Asian nations is aimed at securing the availability of oil-based products, including medical equipment.
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Trump’s Latest Oil Blockade Brings Bigger Economic Risks
Oil markets shrugged it off, but the effort to hurt Iran could provoke retaliation that inflicts more damage on energy assets and the global economy.
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Iran War Drives Deeper Oil Shock Than Prices Reveal
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
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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.