Oil and gas

US, Iran cite progress in talks as uncertainty hangs over Hormuz strait

An Israeli soldier was killed in combat in southern Lebanon and nine were wounded

A man sits outside a closed shop on Apr 10 at a market after authorities ordered closures to reduce energy consumption in Karachi.

A war in the Persian Gulf is plunging Pakistan into darkness

ELECTRICITY has become a luxury for Mohammad Rizwan.

Brent futures retreated 9.1 per cent to settle near US$90 a barrel, reversing some of the rally sparked by the US-Iran war, while West Texas Intermediate slumped to roughly US$84.

Oil and gas plunge on Hormuz opening, hope for end of war

[LONDON] Oil and European natural gas prices tumbled after the promised re-opening of the Strait of Hormuz bolstered sweeping optimism that the US-Iran conflict will reach an end and ease disruptions ...

The market was underestimating the consequences of a prolonged closure of the Strait of Hormuz, said Fatih Birol.

Loss of energy output in Middle East due to Iran war will take about 2 years to recover: IEA chief

There were no new deliveries of oil, gas or fuels to Asian markets, said Fatih Birol

People take part in a pro-government rally at in Teheran on Apr 15. The current US-Iran ceasefire has largely held since it began on Apr 8.

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