China Builds Gas Buffer for Winter as Iran War Heightens Risk
China has stockpiled enough natural gas to meet winter demand, according to analysts, as importers acted early to build supplies in anticipation of price spikes from the Iran war.
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China has stockpiled enough natural gas to meet winter demand, according to analysts, as importers acted early to build supplies in anticipation of price spikes from the Iran war.
Saudi Arabia’s fiscal buffers and backup oil-export facilities are helping curb the damage to the Middle East’s largest economy from the Iran war, according to the International Monetary Fund.
Brokers increased their share of Europe’s repo market to the highest since 2012 as automated trading lost ground to more discreet ways of raising cash during turbulence sparked by the Iran war.
Zambia trimmed its growth forecasts for the next two years due to the mounting economic threat that El Niño poses to the copper-rich nation, as well as the prolonged impact of the Iran war.
For Doug Rende, who runs an aluminium product manufacturer in the US state of Ohio, President Donald Trump’s tariffs have meant millions of dollars more in annual costs – and recently, the Iran war has made shipments even more expensive. Rende is CEO at Shapes Unlimited, one of many American producers smarting from Trump’s economic policies as the midterm election approaches. “Frustrating would be one word,” Rende said. “And I think that we’re sensing a lack of trust in not only the...
Leading oil executives warned that the world is running out of stopgaps to manage the impact of the Iran war as the conflict extends into an eighth month.
Risks to Southeast Asia’s energy supplies are multiplying faster than nations are coming up with solutions to meet rapidly rising demand for electricity, according to an International Energy Agency report released on Tuesday. Southeast Asia has a seemingly insatiable appetite for energy, but the region is now in a pinch as energy costs rise, partly due to the Iran war. Fast-growing Southeast Asian economies also need more electricity to power data centres and keep homes and businesses cool. To...
Kuwait is pumping oil at about 75% of the level it was at before the Iran war started as more tankers take the risk of navigating the Strait of Hormuz, the chief executive officer of the nation’s state oil company said.
Intercontinental Exchange Inc. said it would offer tanker derivatives contracts based on a route outside the Strait of Hormuz, as the oil shipping industry’s main benchmark continues to be upended by the Iran war.
European countries have agreed to release diesel stocks, US President Donald Trump said on Friday, after the White House pressured governments to do so, in a bid to cool surging fuel prices linked to the Iran war. “Europe has just agreed to release a massive amount of their heavily stocked diesel oil. The process will begin immediately,” Trump wrote in a post on Truth Social. Trump’s statement followed talks on Friday among EU governments, who discussed a proposal by France for European...
Governments around the world are running out of room to shield consumers from higher energy prices resulting from the Iran war and other crises, with fuel subsidies potentially costing more than $1 trillion this year, a United Nations study found.
Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate amid the ongoing Iran war. The Conference Board said Tuesday that its consumer confidence index tumbled 6.7 points to 81.9 in September, down from 88.6 in August. That is the lowest reading in the board’s survey since April 2014 and below the lowest level reached during the pandemic. Respondents’ views of their present situation fell by 7.9 points to 109.3....
Saudi Arabia’s crude shipments in September jumped to the highest level since the start of the Iran war, after the kingdom quickly ramped up exports via the Strait of Hormuz following an attack on its key bypass pipeline.
Amos Hochstein, managing partner at TWG Global and former energy advisor to President Joe Biden, proposes an alternative to a US diesel export ban and says the war in Iran will remain a “core problem” for fuel prices. (Source: Bloomberg)
Oil prices dropped to their lowest in 11 days on Monday, as investors hoped to see diplomatic progress on the Iran war with the UN meeting this week, as well as a partial recovery from shipments in Saudi Arabia.
High energy costs at the pump and strategic setback for US in the Iran war will likely cost Trump in the midterms.