President Trump dropped a hint on Tuesday, in the context of another dig at U.S. allies in Europe who have declined to join the U.S.-Israeli war against Iran, that he could be prepared to abandon efforts to force Tehran to reopen the Strait of Hormuz to all shipping traffic. After issuing increasingly aggressive threats to … Read more
A sharp supply hit from the Middle East war has triggered a nightmare scenario, leading to a global energy crunch unseen in years, leaving consumers to pay more and cut consumption. The effective closure of the Strait of Hormuz, a narrow channel along the Iranian coast, has stopped the passage of 20% of the world’s … Read more
US Energy Firms Reduce Rig Count to January Low Amid Price Concerns Bucharest — May 29, 2024 — U.S. energy firms are curtailing operations, sending the oil and gas rig count to its lowest level since January, according to a recent report. The reduction,driven by fluctuating prices,sees a primary focus on shareholder returns rather than … Read more