Conflict is forcing producers to slash production and close ports as Iran steps up attacks on energy infrastructure.
Category: Strait of Hormuz
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Iran War Causing Largest Ever Oil Disruption, I.E.A. Says
The New York Times – Business: -
Countries Scramble to Shore Up Global Oil Supplies as Ships Are Attacked
The New York Times – Business: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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At Least 3 Ships Are Struck In and Around the Strait of Hormuz
The New York Times – Business: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
The New York Times – Business: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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How Trump and His Advisers Miscalculated Iran’s Response to War
The New York Times – Business: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 New York Times – Business: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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Businesses Ask the TACO Question About Iran
The New York Times – Business:Whether President Trump signaled that he may soon end the military strikes is weighing on the minds of investors, executives and others.
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Oil Falls and Stocks Rise After a Day of Drastic Swings
The New York Times – Business:The price of oil had spiked to nearly $120 a barrel on Monday, drawing remarks by President Trump that he believed the war on Iran was “very complete.”
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G7 Countries Hold Off on Releasing Emergency Oil Supplies
The New York Times – Business: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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Investors and Trump Face an Iran Dilemma
The New York Times – Business:A spike in oil prices has roiled stocks and bonds again and threatens to accelerate inflation — adding pressure on the White House.
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Oil Prices Spike Over $110 a Barrel, Highest Since Pandemic
The New York Times – Business:The jump was a sign of growing concern that the war in the Middle East will take a toll on energy supplies.
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Stocks Tank in Asia as Oil Price Surges
The New York Times – Business:Asian markets tumbled on Monday as Middle East tensions and spiking oil prices sparked a mass exit from the region’s previously booming stocks.