Category: Strait of Hormuz

An Uncertain World Awaits the Reopening of the Strait of Hormuz

The New York Times – Business:
Fatih Birol of the International Energy Agency, who orchestrated a multinational release of oil reserves, detailed the risks facing the economy now and beyond.
Fuel Prices Drive Sales of E.V.s, Just Not in the U.S.

The New York Times – Business:
Electric vehicle sales have soared in Europe and much of the rest of the world, but Americans are still hesitant.
Nations Brace for Long-Term Economic Woes as Trump Calls Iran Truce Plan ‘Garbage’

The New York Times – Business:
President Trump said the fragile cease-fire was on “life support,” and India’s leader urged residents to cut back on purchases and travel.
How the U.S. Is Trying to Ensure the Dollar’s Dominance During Economic Turmoil

The New York Times – Business:
As the government has been devising plans to keep the dollar dominant, China has been making its own moves to increase global influence of the renminbi.
U.S. Targets Iran’s Missile and Drone Program With Sanctions

The New York Times – Business:
The new measures are focused on Chinese companies that supply Iran’s military with materials to make drones.
Attack on French Cargo Ship Highlights Continued Risks in Strait of Hormuz

The New York Times – Business:
U.S. Central Command and the ship’s owner disagreed on whether the vessel coordinated safe passage with the United States military.
Maersk Ship Passed Strait of Hormuz Under U.S. Military Protection

The New York Times – Business:
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.
Confusion in Strait of Hormuz Leaves Shipping Firms Guessing

The New York Times – Business:
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.
OPEC Plus, in Symbolic Gesture, to Increase Oil Production

The New York Times – Business:
The announcement came days after the United Arab Emirates withdrew from the group. The higher output will have little effect on global supplies.
Why U.S. Oil Companies Are Not Plugging the World’s Energy Gap

The New York Times – Business:
American producers are under pressure from investors to keep spending in check, and they are wary of drilling more wells because they are not sure oil prices will stay high.
Loss of Emirates Further Weakens OPEC’s Influence

The New York Times – Business:
The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.
What Is OPEC, and How Does the Oil Cartel Influence Petroleum Prices?

The New York Times – Business:
The group of oil-producing countries supplied more than 25 percent of the world’s oil before the war in Iran. Its members have influenced energy markets through the years.