Energy
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Iran War is more than inconvenient for Bangladesh as millions consider leaving urban life to move back to the village
Tariqul Islam lost his savings after setbacks in his clothing business about a year and a half ago and turned to ride-sharing on his motorbike to make ends meet. Until recently, he spent hours in fuel lines as supply disruptions linked to the war in Iran ripple into Bangladesh. The 53-year-old father of four fears…
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Markets sell off as U.S.-Iran ceasefire plans go nowhere, leaving Trump with military options to reopen the Strait of Hormuz
Hopes for a peace deal with Iran waned on Sunday, raising the risk that the global energy crisis will drag on and leaving the U.S. to weigh military operations to reopen the Strait of Hormuz. Futures tied to the Dow Jones industrial average fell 200 points, or 0.40%. S&P 500 futures were down 0.33%, and Nasdaq futures lost 0.28%.…
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World’s largest oil company reports 25% profit jump as exports via Saudi Arabia’s East-West Pipeline bypass Strait of Hormuz closure
Aramco, the world’s largest oil company, reported Sunday that its first quarter profits jumped 25% over last year, as it increased exports by using a pipeline that avoids shipping through the Strait of Hormuz, which has been disrupted by the Iran war. Formally known as the Saudi Arabian Oil Co., Aramco reported a profit of…
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The global economy is experiencing the largest capex cycle ever, with nearly $5 trillion seen by the end of the decade—and it’s not all AI spending
AI hyperscalers aren’t the only big spenders fueling the economy and financial markets as the energy sector is experiencing its own capital tsunami. Alphabet, Amazon, Meta, and Microsoft have been plowing hundreds of billions of dollars a year into AI. But the Iran war and closure of the Strait of Hormuz have highlighted another factor…
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Qatar sends first LNG shipment through Hormuz since war started
A tanker carrying liquefied natural gas from Qatar appears to have transited the Strait of Hormuz, marking the country’s first export out of the region since the Iran war began. The Al Kharaitiyat, which loaded at the Ras Laffan export plant earlier this month, exited the strait and is in the Gulf of Oman, ship-tracking…
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Iran war is draining world’s oil buffer at an unprecedented pace
The world has burned through oil inventories at a record speed as the Iran war throttles flows from the Persian Gulf, eating into the very buffer that protects against supply shocks. The rapidly shrinking stockpiles mean that the risk of even more extreme price spikes and shortages is getting ever-closer, leaving governments and industries with…
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The CEO of Maersk, which ships 14% of everything you buy, said the Iran war is adding $500 million in monthly costs it’s trying not to pass down
A prolonged war in Iran will bump the odds of inflation while simultaneously forcing a slowdown in consumer demand. All of this is troubling for the chief executive of container shipping giant Maersk, who warned that deadly combination is already rocking the global shipping sector. “The war in the Middle East created a new wake-up call…
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Oil developer Sentinel just got the U.S. and Japan to fund a deepwater terminal near Texas—but it won’t put a dent in spiraling prices until 2028
U.S. petroleum exports are rising to record highs amid the Iran war, and now a little-known developer will build a large oil-shipping hub deep in the middle of the Gulf of Mexico—but only with funding from the Trump administration and Japan. The unusual government investment for Sentinel Midstream’s multibillion-dollar Texas GulfLink deepwater terminal is a…
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Cargo ship crews face attacks waiting the Gulf as Trump pauses two-day-old project to ‘guide’ ships
With hundreds of vessels still stuck in the Persian Gulf and costs piling up, shipping companies are being whipsawed by uncertainty over how and when the Strait of Hormuz might reopen more than two months into the Iran war. On Sunday, President Donald Trump announced “Project Freedom,” a way for the U.S. to “guide” ships…
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You’re paying 50% more for gas than you did before Trump went to war in Iran
The price of a gallon of regular gasoline climbed 31 cents in the past week, spiking to an average of $4.48 per gallon Tuesday, according to AAA, hitting the wallets of drivers after rising 50% since the war with Iran began. The main reason drivers are paying more at the pump is because of the…