Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. The writer is an adjunct senior research scholar at the Center on Global Energy Policy, Columbia University, and on the advisory board of Crystol Energy The world is watching a race between two blockades. Washington…
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…
Costa Ricans buy more electric vehicles per person than almost any other country in the Western Hemisphere, a fact that would not surprise anyone stopping recently at the Croc Skywalk, a tourist attraction above a slow-moving river where people can gawk at sunbathing crocodiles. Numerous electric vehicles, most of them made by Chinese companies like…
An oil tanker off the coast of Yemen was hijacked Saturday and diverted toward Somalia’s waters, according to Yemen’s Coast Guard, the latest in a spate of ship abductions around the Horn of Africa in recent weeks. An official in Somalia’s semiautonomous Puntland region, along with experts briefed by Yemeni and Somali authorities, said the…
Officials say pirates have become emboldened as naval forces patrolling the Red Sea area are distracted by the blockade of the Strait of Hormuz and civilian maritime routes diverted. Published On 2 May 20262 May 2026 Yemen’s Coast Guard has said that it is attempting to recover an oil tanker that was hijacked off the…
For many months, conservative lawmakers and political operatives have been targeting the scientists and lawyers behind the Climate Judiciary Project, a program meant to educate the courts about climate science, alleging that their effort constitutes a conspiracy to influence federal judges and persuade them to rule against the oil industry. Now, just as congressional investigators…
Oil prices were marginally lower Thursday amid stalled peace talks between Iran and the United States, and continued restrictions through the Strait of Hormuz. Brandon Bell | Getty Images Oil prices fell Friday after Iran sent an updated peace prososal to mediators in Pakistan, raising hopes again that a settlement with the U.S. is still…
Lately, financial markets appear confused. Oil prices recently hit their highest level since the start of the war in Iran, stoking broad worries about inflation and a global energy crisis. Yet, it has been the best month for the stock market of President Trump’s second term. The S&P 500 ended April nearly 10 percent higher…
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…
For oil and gas companies, it has been a profitable war. The energy shock caused by the conflict in Iran, missile attacks on oil and gas facilities in the Persian Gulf and, most crucially, the halt on shipping traffic in the Strait of Hormuz have produced a spectacular bonanza as energy prices have soared. The…
