global oil supply

Washington, April 11 – A new complication has emerged in the already tense geopolitical landscape, with Iran reportedly facing difficulties in reopening the strategically important Strait of Hormuz after laying sea mines during recent hostilities.According to a report by The New York Times...

South Korea has stated that it is ready to participate in efforts to ensure safe passage through the Strait of Hormuz, which is responsible for 20% of global oil and gas supply. The South Korean foreign ministry announced that it will join 7 countries, including European nations and Japan, in...

Washington, March 14 US President Donald Trump on Saturday urged nations affected by Tehran’s “attempted closure” of the Strait of Hormuz to send ships to secure the narrow shipping lane crucial for global oil supplies as the war with Iran entered its third week.In a post on Truth Social...

Oil prices have exceeded $100 per barrel for the first time in over three and a half years, due to the ongoing conflict in Iran, which is disrupting production and shipping in the Middle East. The price of a barrel of Brent crude, the international standard, was trading at $101.19 yesterday, up...

Washington, March 8 – US President Donald Trump said he was not concerned about rising fuel prices despite the ongoing war with Iran, arguing that global oil markets have enough supply and that any price spike would be temporary.Speaking to reporters during a press briefing aboard Air Force...

Wednesday, March 5 The United States may deploy naval escorts for oil tankers passing through the Strait of Hormuz if necessary, the White House has said, as the conflict with Iran raises concerns about global energy supplies and shipping security in one of the world’s most critical maritime...