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Analysis-Trump's feuds, tensions with allies likely to outlast Iran war

Analysis-Trump's feuds, tensions with allies likely to outlast Iran war

By Matt Spetalnick and Andrea Shalal WASHINGTON, May 9 (Reuters) - With his decision to pull some U.S. troops from Germany, his threats to draw down forces elsewhere in Europe and his downplaying of Iran’s recent attacks on an important Gulf partner, President Donald Trump's latest moves foreshadow
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Rubio presses Europe on Iran action as he seeks to mend ties with Italy and Vatican

Rubio presses Europe on Iran action as he seeks to mend ties with Italy and Vatican

U.S. Secretary of State Marco Rubio has urged European allies to move beyond rhetoric and take concrete action against Iran, even as he sought to repair strained ties with Italy and the Vatican
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Doomsday Clock Set to 85 Seconds to Midnight Amid Global Tensions

Doomsday Clock Set to 85 Seconds to Midnight Amid Global Tensions

The Doomsday Clock, a symbolic representation of the threat of global catastrophe, has been set to 85 seconds to midnight, the closest it has ever been. This decision reflects escalating global tensions, including conflicts in the Middle East and Ukraine, and the integration of artificial intelligence into nuclear decision-making. The Bulletin of the Atomic Scientists, responsible for setting the clock, cites a 'complete failure in leadership' in addressing these threats. The clock, established in 1947 by Manhattan Project scientists, serves as a wake-up call to prompt action against existential threats. The current setting underscores the urgency of addressing nuclear risks, climate change, and technological advancements that could lead to global disaster.
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IEA Reports Middle East Conflict Impacting Global Gas Supply

IEA Reports Middle East Conflict Impacting Global Gas Supply

The International Energy Agency (IEA) has reported that the ongoing conflict in the Middle East, particularly involving Iran, is significantly affecting the global liquefied natural gas (LNG) supply. The conflict has resulted in a 15% reduction in LNG supply, with Iranian attacks disrupting 17% of Qatar's export capacity. This situation poses a threat to gas supplies in Europe and Asia, especially as these regions prepare for the winter season. The IEA's analysis indicates that the medium-term gas outlook is being reshaped, with market conditions expected to remain tight. However, new liquefaction capacity is anticipated to offset some of the lost volumes from Qatar and the UAE.
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Norway Expands Offshore Exploration with APA 2026 Licensing Round

Norway Expands Offshore Exploration with APA 2026 Licensing Round

Norway has launched its APA 2026 licensing round, adding 70 new exploration blocks across the North Sea, Norwegian Sea, and Barents Sea. This move is part of Norway's strategy to expand access to the Norwegian Continental Shelf (NCS) and support its long-term oil and gas sector. The Awards in Predefined Areas (APA) round targets mature exploration regions, providing companies with predictable access to prospective acreage. The Norwegian government emphasizes the importance of the oil and gas sector for domestic and European energy security, with Prime Minister Jonas Gahr Støre highlighting the sector's role in job creation and value generation.
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Norway Expands Oil Exploration with APA 2026 Licensing Round

Norway Expands Oil Exploration with APA 2026 Licensing Round

Norway Expands Oil Exploration with APA 2026 Licensing Round
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Equinor Begins Eirin Gas Production, Enhancing North Sea Exports to Europe

Equinor Begins Eirin Gas Production, Enhancing North Sea Exports to Europe

Equinor has commenced production from the Eirin field in the North Sea, adding new gas volumes for export to Europe. The project, completed in approximately three years, is expected to recover about 27.6 million barrels of oil equivalent, primarily gas. The development was accelerated due to the increased importance of Norwegian gas for European supply following geopolitical tensions. Eirin, discovered in 1978, was previously considered uneconomic but has now been developed as a subsea facility tied back to the Gina Krog platform, with gas exported through the Sleipner system.
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Tony Blair Institute Advocates for Renewable Energy to Mitigate European Energy Crisis

Tony Blair Institute Advocates for Renewable Energy to Mitigate European Energy Crisis

The Tony Blair Institute for Global Change has released a report emphasizing the importance of renewable energy investments in Europe, particularly in light of the ongoing energy crisis exacerbated by geopolitical tensions such as the Russian invasion of Ukraine and the war in Iran. The report highlights that countries like Spain, which have heavily invested in renewable energy, are experiencing lower power prices compared to those reliant on fossil fuels. The report argues that achieving net zero emissions is crucial for stabilizing the climate and reducing economic vulnerabilities associated with oil and gas price fluctuations.
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Chance of ECB rate hike has risen, board member Cipollone says

Chance of ECB rate hike has risen, board member Cipollone says

FRANKFURT, May 6 (Reuters) - The chance of a European Central Bank rate hike has risen as inflation pressures are high, board member Piero Cipollone said on Wednesday, even as negotiated wage data showed pay demands had yet to increase.
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Once the city of peace, Geneva sees the United Nations' presence fade

Once the city of peace, Geneva sees the United Nations' presence fade

By Emma Farge and Dave Graham GENEVA, May 7 (Reuters) - When in 1937 the League of Nations vacated the 225-room Palais Wilson in Geneva, the global intergovernmental body created to preserve peace after World War One was on its last legs. It died soon afterwards with World War Two.
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Iran Conflict's Impact on Latin America and Caribbean Economies: Rising Inflation and Supply Challenges

Iran Conflict's Impact on Latin America and Caribbean Economies: Rising Inflation and Supply Challenges

The ongoing conflict involving Iran has led to significant disruptions in global energy markets, particularly due to the closure of the Strait of Hormuz, a critical passage for oil and natural gas. This has resulted in an energy shock affecting Latin America and the Caribbean, regions heavily reliant on energy imports. The International Monetary Fund's projections indicate rising inflation across these areas, reminiscent of the economic impacts following Russia's invasion of Ukraine in 2022. Countries in Central America and the Caribbean, which depend on external supplies, are facing heightened risks of supply shortages and price shocks. Meanwhile, resource-rich South American nations, although benefiting from higher export prices, are also experiencing constraints due to increased costs of diesel and fertilizers.
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Exclusive-Iran conflict may have motivated Trump dinner shooting suspect, US intelligence report finds

Exclusive-Iran conflict may have motivated Trump dinner shooting suspect, US intelligence report finds

By Ted Hesson, Jana Winter and Andrew Goudsward WASHINGTON, May 6 (Reuters) - The U.S.