The future of energy exports through the Strait of Hormuz hangs in the balance after negotiations between Iran and the United States in Doha this week ended without an agreement on releasing frozen funds to the Islamic Republic. With Tehran also failing to begin demining the strait, and still threatening to attack ships attempting to leave the Gulf without its permission, neither side has yet met the two key obligations under their June 17 memorandum of understanding (MOU) to freeze the conflict...
Australia forecasts a A$38 billion (US$26 billion) lift in its export income as commodity and energy prices rise because of the war in Iran. The nation’s resources exports are set to rise almost 3 per cent to A$416 billion in the financial year through June 2027, the Department of Industry, Science and Resources said in its latest resources and energy quarterly on Friday. The extra earnings assume trade is disrupted until end-June 2026, with a further A$7 billion windfall possible if that...