Iran has allowed a small number of vessels to pass, but that won’t alleviate pressure or risk for the shipping industry and energy markets any time soon.
Category: War and Armed Conflicts
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Iran Keeps a Tight Grip on Strait of Hormuz, Pressuring Shipping and Energy Sectors
The New York Times – Business: -
Shield AI, a Start-Up Making Military Drones, Raises $2 Billion
The New York Times – Business:The company, which develops autonomous military technology, also plans to buy a maker of simulation software as interest in next-generation defense soars.
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For Western Oil Companies, War in Iran Means Bigger Profits, and Risks
The New York Times – Business:American and European oil and gas companies are expected to earn a lot more as prices surge but are worried about the future.
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War in Iran Reveals Strait of Hormuz’s Weakness as an Oil Bottleneck
The New York Times – Business:But at just 35 miles wide, it did. It’s just the latest evidence of how dependent the global economy is on a handful of choke points.
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Iran’s South Pars Gas Field Is Attacked, Sending Energy Prices Soaring
The New York Times – Business:The field is part of a vast gas reservoir shared by Iran and Qatar. The strike appeared to be one of the most significant attacks on an energy site since the U.S.-Israeli air war against Iran began.
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Surging Energy Costs Put German Industry ‘Really in Danger’
The New York Times – Business:Four years after the Russian invasion of Ukraine sent energy prices soaring, the war in Iran is posing another challenge to efforts to revive European factories.
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War in Iran Has India Scrambling to Keep Stoves Lit for Cooking
The New York Times – Business:India relies on huge quantities of cooking gas that is normally shipped from the Persian Gulf.
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Iran War Causing Largest Ever Oil Disruption, I.E.A. Says
The New York Times – Business:Conflict is forcing producers to slash production and close ports as Iran steps up attacks on energy infrastructure.
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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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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.