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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Shield AI, a Start-Up Making Military Drones, Raises $2 Billion
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
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
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 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’
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
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
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 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
Officials in Tokyo and Berlin said they planned to release oil from their strategic reserves to address disruptions of supplies from the Middle East.