Oil supply crunch will worsen in April, IEA warns as it weighs releasing more strategic reserves
The organization’s Executive Director Fatih Birol also warned that the Iran war had created the worst oil crisis in history.
The organization’s Executive Director Fatih Birol also warned that the Iran war had created the worst oil crisis in history.
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The organization’s Executive Director Fatih Birol also warned that the Iran war had created the worst oil crisis in history.
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Singapore is exposed to the oil shock from Iran’s effective closure of the Strait of Hormuz, and its response will shape the fuel crisis in Australia.
Oil surged as Trump in his address to the nation on Iran war said that he expected the conflict to last another two to three weeks. Grouped from 9 articles across 6 sources.
It claimed oil companies have been making more than €80 million (S$119.08 million) a day.
Oil rose sharply and Asian stocks fell after US President Donald Trump said in his first national address since the Iran war began that the US would continue to hit Iran and "finish the job".
Foreign ministry spokeswoman Maria Zakharova also called on the US to lift its energy blockade on the island nation.
One market analyst says Trump warning the Iran war will take 2-3 more weeks, without a plan to reopen the Strait of Hormuz, "was far less than" investors had hoped for.