Looming Energy Crisis Has Severe Implications - and only One Solution

Looming energy crisis has severe implications - and only one solution

The International Energy Agency is warning world leaders may not appreciate the depth of the energy crisis that is looming, as the US war with Iran develops. The effective closure of the Strait of Hormuz has triggered a global fuel shortage experts say will have widespread and severe implications.

Why the oil and gas price shock from the Iran war won’t just fade away

Rerouting and diversification cannot help when a significant chunk of oil and gas have been taken off the market.

After Hormuz: Winners, Losers, and the Return of Energy Geopolitics

The de facto closure of the Strait of Hormuz is not merely another oil shock. It is a structural rupture in the global energy system—arguably the most severe in modern history. The head of the International Energy Agency has described it as “the greatest global energy security challenge in history,” warning that restoring normal flows […] The post After Hormuz: Winners, Losers, and the Return of Energy Geopolitics appeared first on Modern Diplom…

Oil prices to eclipse 2008 record highs if Iran war drags on

Global oil prices will leap past their 2008 record highs in the coming weeks if the US-Israel war on Iran continues and the Strait of Hormuz remains closed, according to energy analysts. The regional conflict has thrown global energy markets into turmoil after Tehran's retaliatory strikes effectively sealed off the Strait of Hormuz and vital infrastructure on both sides of the Arabian Gulf comes under fire. The strategic waterway carries around …

Iran Oil Prices Hold Near Four-Year Highs After U.S. Frees 140 Million Barrels

Brent crude closed at $112.19 a barrel Friday, its highest since July 2022, despite the U.S. move to temporarily release about 140 million barrels of stranded Iranian oil. The Strait of Hormuz remains mostly shut, with Iraq cutting Basra output to 900,000 barrels per day and declaring force majeure on foreign-operated oilfields. Middle East Dubai crude hit a record $166.80 a barrel Thursday as refiners scrambled for alternative supplies. The pos…

Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply

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