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From falling U.S. wealth to Indian factory closures, oil shock raises global recession risk

From falling U.S. wealth to Indian factory closures, oil shock raises global recession risk

By Howard Schneider, Timothy Aeppel, Sarah McFarlane and Sumit Khanna SAN FRANCISCO/AHMEDABAD, India, April 7 (Reuters) - Kevin Kelly is in a tough spot.
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Iran Blocks LNG Passage Through Hormuz, Exacerbating Global Shortages

Iran Blocks LNG Passage Through Hormuz, Exacerbating Global Shortages

Iran has continued to block the passage of liquefied natural gas (LNG) carriers through the Strait of Hormuz, a critical chokepoint for global energy supplies. This blockade has persisted for weeks amid ongoing conflict involving the U.S. and Israel. The restriction has left numerous LNG tankers idling in the Persian Gulf, unable to secure passage. The blockade has significantly reduced traffic through the strait, which is crucial for the transport of a fifth of the world's LNG supply. Qatar, a major LNG exporter, has been forced to shut down its Ras Laffan export plant due to Iranian attacks, further exacerbating the supply shortage. The situation has led to a scramble for alternative energy sources, with countries like Japan and Bangladesh reverting to coal, and Taiwan spending heavily on spot LNG cargoes.
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Shell prevé unos resultados del primer trimestre impulsados por los precios del petróleo

Shell prevé unos resultados del primer trimestre impulsados por los precios del petróleo

Shell, gigante británico de los hidrocarburos, anunció el miércoles que sus resultados del primer trimestre se beneficiarán de una clara mejora en las ventas de productos petrolíferos, en un contexto de precios favorecidos por la guerra en Oriente Medio.
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Shell's Trading Profits Surge Amid Iran Conflict, Qatar Strikes Impact Gas Output

Shell's Trading Profits Surge Amid Iran Conflict, Qatar Strikes Impact Gas Output

Shell's Trading Profits Surge Amid Iran Conflict, Qatar Strikes Impact Gas Output
Reuters Reuters
Factbox-Energy facilities and shipping hit during US-Israeli war on Iran

Factbox-Energy facilities and shipping hit during US-Israeli war on Iran

April 7 (Reuters) - The U.S.-Israeli war on Iran and Tehran's retaliatory attacks on Gulf neighbours have damaged major energy facilities and disrupted shipping through the Strait of Hormuz, which handles about 20% of global oil and liquefied natural gas flows. U.S.
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Oil and Gas Prices Drop Amid U.S.-Iran Ceasefire, Uncertainty Over Hormuz Remains

Oil and Gas Prices Drop Amid U.S.-Iran Ceasefire, Uncertainty Over Hormuz Remains

Oil and natural gas prices have fallen sharply following a ceasefire agreement between the U.S. and Iran, aimed at halting a six-week conflict. Despite the ceasefire, uncertainty persists regarding the resumption of oil flows through the Strait of Hormuz, a critical passage for global energy supplies. Brent crude prices dropped by 13%, settling below $95 per barrel, while European natural gas futures experienced a significant decline. The ceasefire has raised hopes of easing supply disruptions, but the waterway remains largely restricted due to ongoing security concerns. Market participants are cautious, as tanker movements are still halted, and regional hostilities continue, including Israeli operations in Lebanon and Iranian strikes across Gulf states.
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Middle East Ceasefire Raises Concerns Over Oil Supply Through Strait of Hormuz

Middle East Ceasefire Raises Concerns Over Oil Supply Through Strait of Hormuz

Oil prices have risen due to concerns over the stability of a fragile two-week ceasefire in the Middle East, which affects the flow of energy through the Strait of Hormuz. Brent crude futures increased by $2.18, reaching $96.93 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by $3 to $97.41 per barrel. The ceasefire has not fully alleviated geopolitical risks, as market participants remain cautious about the potential reopening of the strait. The Strait of Hormuz is a critical passage for oil and gas supply from Gulf producers like Iraq, Saudi Arabia, Kuwait, and Qatar, accounting for about 20% of global supply. Despite the ceasefire, regional tensions persist, with Israel's continued attacks on Lebanon and Iran's retaliatory strikes on regional oil facilities, including a pipeline in Saudi Arabia. Shippers are seeking clarity on the ceasefire terms before resuming transit through the strait.
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Middle East war means 'all roads' lead to higher prices, slower growth, IMF chief says

Middle East war means 'all roads' lead to higher prices, slower growth, IMF chief says

By Andrea Shalal WASHINGTON, April 6 (Reuters) - The war in the Middle East will lead to higher inflation and slower global growth, the head of the International Monetary Fund told Reuters on Monday, ahead of a fresh forecast for the world economy planned by the global lender for next week.
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Analysis-Hormuz closure divides the fortunes of Middle Eastern oil states

Analysis-Hormuz closure divides the fortunes of Middle Eastern oil states

By Ahmad Ghaddar and Yousef Saba LONDON, April 6 (Reuters) - The Strait of Hormuz's closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars, a Reuters
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Qatar LNG Tankers Idle Across Asia Amid Middle Eastern Conflict

Qatar LNG Tankers Idle Across Asia Amid Middle Eastern Conflict

Nearly 50 liquefied natural gas (LNG) carriers used by Qatar are idled across Asia due to the ongoing Middle Eastern conflict, according to data from Kpler. These vessels, typically used to export superchilled fuel, are currently empty and stationed in locations such as West India, Sri Lanka, and offshore Singapore. The idling of these carriers represents a significant loss in LNG carrier capacity, estimated at over 3.456 million tons. The disruption in global LNG trade has led China to resell record amounts of liquefied gas to other Asian countries, leveraging its solid stockpiles and reduced domestic demand. However, the conflict has started to sap demand for liquefied gas across Asia, as supply tightness pushes prices higher, exacerbated by competition from Europe.
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Oil prices extend gains as Trump sharpens rhetoric on Iran

Oil prices extend gains as Trump sharpens rhetoric on Iran

By Anmol Choubey BENGALURU, April 7 (Reuters) - Oil prices extended gains on Tuesday as U.S. President Donald Trump heightened his rhetoric against Iran, threatening stronger action if the country fails to reopen the Strait of Hormuz, a key global oil transit chokepoint.
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Oil Prices Surge Above $110 as Trump's Iran Deadline Approaches

Oil Prices Surge Above $110 as Trump's Iran Deadline Approaches

Oil prices have surged above $110 per barrel as the deadline set by President Trump for Iran to reopen the Strait of Hormuz approaches. The ongoing conflict in the Middle East has disrupted oil supplies, causing market volatility and inflation concerns. The U.S.-Israel war with Iran has led to the closure of the Strait, a critical oil transit chokepoint. Investors are on edge as the deadline looms, with no resolution in sight. The situation has led to a risk-off sentiment in global markets, with the U.S. dollar strengthening and oil prices rising.