Oil and gas

Can the US and Iran conclude a lasting deal to end the Middle East war?

Iran is unlikely to give up its leverage over Hormuz without concessions from the US

QatarEnergy's LNG production facilities in Ras Laffan Industrial City in Qatar on Mar 2.

Energy crisis triggered by Iran war pushes Asia to think twice before doubling down on LNG

LNG prices in the region more than doubled in the weeks after the start of the conflict

Europe is heavily reliant on imported jet fuel because many of its oil refineries have shut down in recent decades.

European airlines face fuel shortages within weeks

Europe is by far the biggest consumer of jet fuel shipped through the Strait of Hormuz

Asia’s fierce buying has also pitted refiners in the region against their global counterparts.

Asia relying on US crude to replace Middle East supply

The war in Iran and near closing of the Strait of Hormuz has choked off crude flows to Asia

Article 38 of Unclos provides vessels a right of unimpeded “transit passage” through more than 100 straits worldwide, including the Strait of Hormuz.

Can Iran legally impose tolls in the Strait of Hormuz?

The US disputes Iran’s authority to charge tolls

Fuel, particularly diesel, and fertilisers are critical to Thailand’s economy, supporting factories, farms and millions of rural households reliant on rice and other crops.

Thailand rushes to secure oil, fertiliser as Strait of Hormuz remains shut

Despite talk of a US-Iran ceasefire extension, policymakers are still on high alert in South-east Asia

A crude oil tanker at anchor in Galveston Bay as it made its way to the Port of Houston in Texas City in March. Data shows that the US was last a net exporter of crude in 1943.

Iran war brings US close to net crude exporter for first time since World War II

Atlantic Basin and Asian buyers are reaching further out for available supply

US President Donald Trump said that Iran had been in touch on Monday and wanted to make a deal, adding that he would not sanction any deal that allowed Teheran to possess a nuclear weapon.

US, Iran may resume talks this week despite port blockade

Signs that diplomatic engagement might continue have calmed oil markets

Investors have latched on to hopes for an Iran war off-ramp, lifting the overall market mood.

Asian stocks rise on US-Iran deal hopes amid Hormuz blockade, oil falls

Since the US and Israel launched the war in late February, the Trump administration has taken repeated steps to contain prices

A billboard on a building in Tehran on April 13 declaring that the Strait of Hormuz belongs to Iran.

What to know about the US blockade of Iran’s ports 

The ultimate aim of a blockade would be to cut off Iran’s oil flows, severing a vital financial lifeline for the regime