#energy-price-crisis

#energy-price-crisis

"The energy crunch is doing much more to accelerate the EV transition than any message on climate change," said Lawrence Loh, who heads the Center for Governance and Sustainability at the National University of Singapore (NUS). "Ultimately, it's about what hits your pocket-and the Iran war hits your pocket right away."

The anticipated increase reflects renewed pressure on household budgets driven by surging oil and fuel costs, which economists say are increasingly being shaped by the fallout from the conflict involving US-Israeli and Iranian forces.

"Fortunately, our relations with Russia remain good," Anwar Ibrahim, Malaysia's prime minister, told local publication Sinar Harian. "Therefore, the Petronas team can negotiate with them."

Karex is seeing a surge in condom demand as rising freight costs and shipping delays have left many of its customers with lower stockpiles than usual. The situation is definitely very fragile, prices are expensive. We have no choice but to transfer the costs right now to the customers.

In Europe, we have maybe six weeks or so (of) jet fuel left. If we are not able to open the Strait of Hormuz ... I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel.

The IEA sees global oil demand falling by 80,000 barrels per day this year, compared with a projected year-on-year rise of 640,000 bpd in its previous monthly report.

Shipping costs have increased by more than 10 percent in the past month due to the US-Israel war on Iran. The 60-day waiver for the Jones Act aimed to lower energy costs but has had little impact on oil prices, which continue to rise amid the ongoing conflict.

Major indices, including the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, all recorded gains, with the Nasdaq delivering its strongest weekly performance since November.

The war in the Middle East is exposing how dependent the world is on a handful of strategic chokepoints. The Strait of Hormuz a narrow waterway in the Gulf is closed. The longer this goes on, the faster the global energy map could be reshaped.