India has so far managed the oil shock from the Iran war through policy buffers, diversified crude sourcing and intervention by the Reserve Bank of India, keeping inflation and supply chains stable. However, the proposed US naval blockade of Iranian ports by Donald Trump risks escalating the situation and disrupting energy flows through the Strait…
British Prime Minister Keir Starmer has stated that the UK will not be drawn into a war with Iran, nor will it support a blockade of the Strait of Hormuz. Starmer emphasized the critical importance of reopening the strait, confirming that all of Britain’s efforts are focused on this objective and will continue.
A commentary argues that US President Donald Trump may be underestimating Iran’s leverage in the Strait of Hormuz, warning that a blockade is more likely to deepen conflict than force concessions. It says energy blockades are acts of war, slow to take effect, and risk collapsing the fragile ceasefire while hurting the global economy.
An Iranian Armed Forces spokesperson called U.S. restrictions on vessels in international waters “illegal” and said they amount to piracy, warning that Iran will enforce a “permanent mechanism” to control the Strait of Hormuz.
Oil prices could skyrocket to $150 a barrel if the US proceeds with a planned blockade of the Strait of Hormuz, a move that could disrupt up to 12 million barrels per day. Brent crude already surpassed $103 following failed talks with Iran, with traders deeming a full blockade unlikely despite escalating tensions and naval…
U.S. President Donald Trump on Sunday said the U.S. Navy would begin a blockade of ships linked to Iranian ports in the Strait of Hormuz after ceasefire talks with Iran in Pakistan failed. The U.S. Central Command said the blockade would start Monday but still allow vessels not heading to Iranian ports to pass through…
A significant increase in diesel export tax is set to align prices for state-run oil companies and private fuel sellers. This move could end a prolonged dispute over domestic fuel supply agreements. State-run firms typically buy diesel from private refiners and some state-run ones.
Donald Trump has commented on the fluctuating prices of oil and gas. He believes these costs could either decrease or increase before the upcoming US midterm elections. This statement underscores the current unpredictability in global energy markets. Geopolitical tensions and supply disruptions are key factors influencing these price movements. The situation remains uncertain as the…
A desperate scramble for immediately available oil supplies is occurring globally, with traders paying unprecedented prices for prompt cargoes. This physical market frenzy contrasts with futures, highlighting a significant crude shortfall as Middle East supplies are disrupted. Refiners may cut production, deepening shortages of vital products like diesel and jet fuel.
Global energy firm Shell plc has significantly increased natural gas supplies to India. This comes as disruptions from the West Asia conflict impacted supplies from Qatar. Shell’s global LNG portfolio and infrastructure allowed it to step in. It became India’s largest imported gas supplier in March. This ensured feedstock for fertiliser production and other industrial…