As Iran War Spikes Gas Prices, Americans Struggle With the Rising Cost of Living
Shocked by the rapid price increases, many Americans are scrambling to figure out how to stretch their budgets to cover an essential expense.
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Washington Weighing a Rollback of Oil Sanctions on Russia
Trump and Putin connected by phone for the first time this year, holding what the Kremlin described as a substantive conversation covering the war in Iran, the situation in Ukraine, and Venezuela's role in global oil markets. The call came just hours after Putin had warned publicly that the ongoing conflict was pushing the world toward an energy crisis.
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India diverts gas to priority sectors after Strait of Hormuz closure
India diverts gas to priority sectors after Strait of Hormuz closure India has activated emergency measures to redirect natural gas supplies to priority sectors after liquefied natural gas shipments through the Strait of Hormuz were disrupted, according to a government notification. Authorities said gas will be diverted away from non-essential users to protect key industries and services that depend heavily on the fuel. India consumes about 195 million standard cubic metres of gas per day and relies on imports for roughly half of that demand.
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India should develop multiple supply chains: Congress MP on LPG shortage
New Delhi [India], March 10 (ANI): As the West Asia conflict disrupted Liquefied Petroleum Gas (LPG) and other natural gas supply across the country, Congress MP Karti Chidambaram on Tuesday stressed on the need for India to develop multiple supply chains so as to not be so adversely affected by the 'natural fallout' of the crisis in the region. 'It is a natural fallout of the crisis in the Middle East.
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Europe Stands Ready to Tap Oil Reserves If Necessary
European Commissioner for the Economy Valdis Dombrovskis signaled that the EU is prepared to release its strategic oil reserves should the deteriorating situation in the Middle East demand it. The statement came after a meeting of EU finance and economy ministers, where the steep climb in global energy prices dominated much of the discussion.
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"Govt unable to understand impact of West Asia crisis": Manickam Tagore slams Centre over LPG shortage
New Delhi [India], March 10 (ANI): Congress MP Manickam Tagore on Tuesday slammed the Centre over the alleged shortage of commercial Liquefied Petroleum Gas (LPG) cylinders, saying that the Opposition had warned against an energy security crisis amid the ongoing conflict in West Asia.
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Video: US sanctions murdered 38 million people, political scientist says
Video: US sanctions murdered 38 million people, political scientist says “American sanctions from 1971 to 2021…murdered 38 million people. ” Political scientist John Mearsheimer criticised US foreign policy and cited a report by The Lancet that says US sanctions have killed 38 million people worldwide. “American sanctions from 1971 to 2021…murdered 38 million people.
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Was Iran really building a nuclear weapon? – podcast
Among the many justifications Donald Trump has presented for the US and Israel attacking Iran has been the supposedly imminent threat posed by its nuclear weapons programme. But how close was the country really to developing an atomic weapon? Ian Sample hears from Kelsey Davenport, the director of non-proliferation policy at the Arms Control Association.
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Middle East conflict strands fashion cargo in South Asia
DHAKA, Bangladesh: Garment shipments bound for major global retailers, including Zara owner Inditex, are piling up at airports in Bangladesh and India after Middle East airspace closures forced airlines to cancel flights, manufacturers said.
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"We're waiving certain oil-related sanctions": Trump moves to curb global price surge
Washington, DC [US], March 10 (ANI): US President Donald Trump has indicated that Washington could implement temporary waivers on specific oil-related sanctions to mitigate the impact of surging global energy costs caused by the escalating conflict involving Iran.
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Energy price surge worsens Europe's cost-of-living pressures
The surge in wholesale energy prices is quickly feeding into consumer costs across Europe. Analysts warn the shock could extend beyond household energy bills if the conflict drags on.
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The Guardian view on the Iran crisis exposing Britain’s energy vulnerability: clean power offers protection | Editorial
The war reveals Britain’s exposure to volatile fossil fuel prices. More North Sea drilling will not shield households, building domestic green energy will What should Britain do when war in the Middle East sends energy prices soaring? If the strait of Hormuz were blocked for the month of fighting that Donald Trump predicts, British households could face another brutal cost of living shock.
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Putin urges Russian firms to capitalise on energy market turmoil
Putin urges Russian firms to capitalise on energy market turmoil Russian President Vladimir Putin said Russian companies should “take advantage” of the current situation as the war disrupts global oil and energy markets. Speaking at a meeting in the Kremlin, Putin said the US-Israeli has triggered a worldwide energy crisis and warned that oil production relying on transport through the Strait of Hormuz could soon come to a halt. He added that Russia would be ready to supply European buyers if they were willing to engage in “long-term work without politics”.
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X suspends 800m accounts in one year amid ‘massive’ scale of manipulation attempts
Social media company tells MPs of continual fight against state-backed attempts, with Russia being most prolific Elon Musk’s X said it has suspended 800m accounts over a 12-month period as it fights the “massive” scale of attempts to manipulate the platform. The social media company told MPs it was continually fighting state-backed attempts to hijack the agenda on its network, with Russia being the most prolific state actor, followed by Iran and China. Continue reading...
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IndiGo flight from Delhi to Manchester forced to make U-turn due to sudden airspace restrictions over West Asia
New Delhi [India], March 9 (ANI): IndiGo flight 6E 033 from Delhi to Manchester was forced to return to Delhi after being airborne for nearly eight hours due to sudden airspace restrictions over West Asia. The airline prioritised safety, citing 'last-minute airspace restrictions' as the reason. IndiGo is working with authorities to explore resuming the journey.
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Gulf oil production could stop in weeks - Putin
Russia has warned that any attempts to destabilize the Middle East will lead to energy price hikes, the president has said Oil production dependent on the Strait of Hormuz could come to a complete halt within a month, Russian President Vladimir Putin has said.
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G7 Countries Hold Off on Releasing Emergency Oil Supplies
Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
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India unlikely to contribute from its strategic petroleum reserves in G7 effort, strategy is "India First": Sources
New Delhi [India], March 9 (ANI): India has no plan to release oil reserves in coordination with the International Energy Agency (IEA), government sources said on Monday. The sources said that India is unlikely to contribute from its strategic petroleum reserves in the G7 effort, 'as our strategy is 'India First''. International crude prices have surged amid the ongoing conflict in West Asia.
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The Iran war has triggered a puzzling market trend
Gold ix being sold to absorb the oil price shock but no amount of tinkering with margin requirements can address physical shortages. The moment we all wondered about has come. Oil has surged past $100 per barrel and markets are coming under serious strain.
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Hungary urges EU to lift Russian oil ban
Brussels should protect the interests of Europeans, not ideology, as the Middle East crisis escalates, Peter Szijjarto says Hungarian Foreign Minister Peter Szijjarto has urged the EU to lift its ban on Russian oil and gas imports, as escalating Middle East tensions and attacks involving Iran have sent global oil prices soaring.
