China’s top diplomat met with Iran’s foreign minister on Wednesday and called for greater efforts to open the Strait of Hormuz and for an end to the war, after the Trump administration pressed Beijing to help end Tehran’s chokehold over the waterway. Meeting in Beijing with his Iranian counterpart, Abbas Araghchi, Foreign Minister Wang Yi…
A sign saying “Sorry, No Petrol” on the forecourt of a BP service station during a fuel shortage in London on Feb 9, 1971. Evening Standard | Hulton Archive | Getty Images This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here. The dispatch For Britons of a…
In January 1980, President Jimmy Carter made a bold promise: If any foreign power tried to dominate the Persian Gulf or the region’s vast oil reserves, it would be met with American military force. By guaranteeing the free flow of oil through the Strait of Hormuz over the next 45 years, America signaled to the…
Geothermal startup Fervo Energy said Monday it hopes to raise up to $1.3 billion in its initial public offering. The company would be valued at up to $6.5 billion if shares sell at the top of its $21 to $24 price target. That’s more than twice what Fervo had reportedly been seeking earlier this year…
Dealing with emissions could help alleviate effects of Iran crisis on global energy supply, says report. Published On 4 May 20264 May 2026 Tackling methane emissions in the fossil fuel sector would help efforts to hold back climate change and increase energy security, especially as the Iran crisis threatens global supplies, according to a report…
Sanae Takaichi makes comments during a visit to Australia, where she signs agreements on energy supplies. Published On 4 May 20264 May 2026 The global oil supply squeeze from shipping disruptions in the Strait of Hormuz during the United States-Israeli war on Iran is having an “enormous impact” across the Asia Pacific, Japan’s prime minister…
Takaichi signs six agreements with Vietnam, including on technology, agriculture and space, during a trip to Hanoi. Published On 2 May 20262 May 2026 Japan’s Prime Minister Sanae Takaichi says the country will boost ties with Vietnam, with a focus on energy and critical minerals. Takaichi met her Vietnamese counterpart, Le Minh Hung, on Saturday…
If there are any winners from the war with Iran in the business world, they are Western oil companies that are reaping the rewards of much higher energy prices. But don’t expect them to invest their bumper profits into pumping a lot more oil and natural gas — at least not yet. In fact, there…
The American economy extended a streak of resilience and expanded at an annual rate of 2 percent in the first three months of the year, even as global energy prices surged in the first weeks of war with Iran. The data from the Commerce Department offered the first official snapshot of how the U.S. economy…
Stay informed with free updates Simply sign up to the Energy crisis myFT Digest — delivered directly to your inbox. There is nothing good about the energy shock stemming from the closure of the Strait of Hormuz. Higher prices for fuel, gas and electricity are needed to reduce demand to the point it balances lower…
