The UAE’s decision to quit OPEC to prioritise its ‘national interests’ deals a blow to the oil group.
The German airline says 20,000 short-haul flights would be removed from its schedule between now and October.
In the spring of 2026, amid a fragile ceasefire in the Strait of Hormuz, President Donald Trump continues to insist that the United States is untouched by disruptions in the Persian Gulf. “We don’t use it”, he has claimed, echoing years of “energy dominance” rhetoric. The numbers tell a different story. The United States remains a net importer of crude oil. Its refineries are engineered for the medium sour barrels that flow through the Hormuz Strait. And the global price shock triggered by the...
Heavily dependent on imported oil, Australia looks for quick fixes from regional diplomacy to free train rides.
A major fire at a key refinery in Australia refinery has disrupted fuel production, raising fears of fuel shortages.
Washington’s naval blockade of the Strait of Hormuz is threatening to tip Asia into its worst energy crisis in living memory, with peace talks on the Iran war stalled and no clear timeline for when oil flows might resume. The United States moved to seize control of the flashpoint waterway on Monday night, with US President Donald Trump framing the move as a way to force Iran to open the strait and accept a deal to end the war. Iran responded by threatening all ports in the Persian Gulf and the...
China’s green energy transition is expanding from a domestic security priority into a potent geopolitical asset at a time of heightened global uncertainty, according to the latest official reading of the country’s 15th five-year plan. That shift has been tested in recent weeks by the US-Israeli war in Iran and Tehran’s effective closure of the Strait of Hormuz – a chokepoint for 20 per cent of global oil and gas supplies. While Tehran signalled it would reopen the strait on Tuesday under a...
Malaysia is facing renewed pressure to expand palm-based biodiesel as the Iran war drives up fuel costs, but industry and academic observers say high infrastructure costs and slow roll-out make it an unlikely source of quick relief. That tension has sharpened as the government confronts a swelling fuel subsidy bill and greater exposure to imported supply shocks. The finance ministry last month said petrol and diesel subsidies could reach 4 billion ringgit (US$903 million) a month with crude oil...