Pockets of fuel shortages worldwide, continuing price spikes, and rising inflationary pressure are now more imminent amid the ongoing Iran war escalation and the continuing decline of global energy supplies, analysts said. On Wednesday, the global benchmark for crude oil topped $101 per barrel for the first time since July and the U.S. standard for
President Donald Trump has downplayed his war on Iran as “small potatoes,” but those potatoes are getting bigger as both sides are escalating beyond their stalemate in the Strait of Hormuz. For months, Iran’s military has failed to completely close off the narrow waterway, as U.S. forces shepherd more oil tankers through, eroding Tehran’s geopolitical
One of the hottest debates in the energy industry right now is how much oil is actually coming out of the Persian Gulf, and the answer could determine how long the Iran war lasts. Iran insists the Strait of Hormuz is closed and that it has control of the narrow waterway, which saw 20 million
Iran says it has carried out drone strikes against US military facilities and bases across the Middle East in retaliation for the 13th consecutive night of US strikes on the country. Explosions were reported along Iran’s Gulf coast and in the western, northern and central areas. Four people were killed and five wounded in an