English

More about this topic

Europe News

What are Europe's oil route alternatives to the Strait of Hormuz?

Many European countries like Italy, Greece, Spain, Poland and Belgium rely on the Strait of Hormuz for imports or refining. Experts say the closure of this corridor will not cut off Europe’s oil supply, but will continue to drive up oil prices and disrupt markets.

Europe News

EU praises Azerbaijani gas as Qatar suspends LNG production

Energy Commissioner Dan Jørgensen said Azerbaijan's gas supplies will remain an important backbone of the EU's energy security as the bloc deals with a new energy crisis following the suspension of LNG shipments from Qatar and the closure of the Strait of Hormuz.

Economy

Iran attacks threaten US GDP growth and inflation prospects

The US and Israeli attacks on Iran have pushed up oil prices, adding fresh uncertainty to a US economy already facing stubborn inflation and weak hiring.

Economy

Gas prices nearly double as Europe braces for Iran war energy shocks

Gas prices in Europe are rising as Middle East tensions disrupt global energy flows, fuelling fears of tighter LNG supplies. Analysts warn that if the conflict persists, higher wholesale costs could feed through to household bills and weigh on the wider economy.

ADVERTISEMENT

Iran

US 'stupid' to attack Iran during nuclear talks, UN ambassador says

Air strikes continued across the region on Tuesday as Iran showed no signs of backing down after the US and Israel launched an attack at the weekend that killed Ayatollah Ali Khamenei.

Iran

Why the Strait of Hormuz is crucial to global oil and maritime trade

The Strait of Hormuz is a key shipping lane linking the Gulf to global markets, with a large share of the world’s oil and gas passing through it daily. Disruptions caused by tensions between Iran, the US and Israel risk affecting energy supplies and international trade. Watch the video for more.

Markets

European gas prices surge by up to 45% as Qatar stops LNG production

European natural gas prices surged on Monday as the escalating conflict in the Middle East caused Qatar to stop LNG production at the world’s top plant.

Economy

Another oil tanker hit by drone boat as Strait of Hormuz tensions rise

An oil tanker has been struck near the Strait of Hormuz, marking another attack in the area that triggered an explosion and left one crew member dead.

Economy

First oil tanker attacked in the Strait of Hormuz according to Oman

An oil tanker was attacked off the coast of Musandam in the Strait of Hormuz. Four people were injured and all 20 crew members were evacuated, according to Oman's Maritime Security Centre.

Iran

US-flagged tanker challenged by Iranian gunboats in Strait of Hormuz

The Stena Imperative was approached by small armed vessels belonging to Iran's Revolutionary Guards, but continued on its way as planned.

Iran

Explosions reported in Iran, Israel denies involvement

A powerful explosion rocked the southern Iranian port city of Bandar Abbas earlier today. Reports are coming in of more explosions.

Iran

Iranian navy seizes 'foreign' oil tanker in the Strait of Hormuz

Authorities detained 16 foreign crew members but did not reveal their nationalities or the tanker's flag, Tehran-run state media reported.

Economy

China to build 'Suez Canal' railroad to connect Europe and Asia

China is quietly building alternative routes to help it export goods to Europe, without passing through its South Sea, to avoid tensions with the United States and its allies in the region.

Markets

Israel Iran conflict highlights Asia's dependence on Middle East oil

A blockade of the Strait of Hormuz could affect a number of Asian countries, making renewable energy capacity a crucial guard against volatility.

Europe in Motion

How crucial is the strait of Hormuz to the global energy market?

Although Israel and Iran's ceasefire which came into force on Tuesday removed the pending threat of the Strait of Hormuz's closure, this is not the first time that Iran has said it would block it.

Europe News

China calls for efforts to defuse tensions over Strait of Hormuz

Chinese foreign affairs spokesperson issued an appeal during a press briefing in Beijing following US calls for China to intervene with Iran on the vital global waterway.

Economy

What would happen if the Strait of Hormuz were closed?

This narrow shipping route in the Gulf region sees one-fifth of global oil and liquefied natural gas (LNG) passing through, fuelling a big part of the global economy. And Iran controls its northern side.

Markets

The dollar sees a rebound after US strikes Iran, but can it continue?

The greenback may rise further if Iran decides to block the Strait of Hormuz, while the value of safe-haven alternatives like the euro and the yen are predicted to slide.

Europe News

What’s at stake for Europe if the Strait of Hormuz is blocked?

Iran is considering closing the Strait of Hormuz, but what would that mean for Europe and what is at stake if it happens?

Earth News

Greenpeace warns of disaster after tanker crash near Strait of Hormuz

Greenpeace said it had reviewed satellite imagery that showed a plume of oil stretching up to about 1,500 hectares from the crash site.

.