Explore

Explainer-How the Iran war oil and gas supply shock compares with past disruptions

Explainer-How the Iran war oil and gas supply shock compares with past disruptions

By Alex Lawler LONDON, April 22 (Reuters) - The U.S.-Israeli war with Iran and the closure of the Strait of Hormuz have caused the biggest oil supply disruption on record by daily output lost, though at least one earlier shock had a greater cumulative impact, according to Reuters calculations based

LNG's Rise Reshapes Global Energy Trade with Asia at the Forefront

LNG's Rise Reshapes Global Energy Trade with Asia at the Forefront

LNG's Rise Reshapes Global Energy Trade with Asia at the Forefront

Japan scraps a ban on lethal weapons exports in a change of its postwar pacifist policy

Japan scraps a ban on lethal weapons exports in a change of its postwar pacifist policy

Japan is scrapping a ban on lethal weapons exports, a major change of its postwar pacifist policy as the country seeks to build up its arms industry and deepen cooperation with defense partners

Ukraine's Proposal to Rename Donbas as 'Donnyland' Aims to Appeal to President Trump Amid Peace Talks

Ukraine's Proposal to Rename Donbas as 'Donnyland' Aims to Appeal to President Trump Amid Peace Talks

Recent U.S.-facilitated peace talks have focused on the future of the Donbas region in eastern Ukraine, which includes the partially occupied Donetsk and Luhansk oblasts. A proposal to rename a portion of Donbas as 'Donnyland' has emerged, reportedly as a diplomatic gesture to appeal to President Trump. This proposal, which references Donetsk, Donald, and Disneyland, would apply to approximately 2,000 square miles in the northwestern part of Donetsk Oblast. The idea was partly in jest but also intended to encourage a firmer stance against Russia's territorial demands. Despite the proposal, Ukraine continues to hold significant portions of Donetsk Oblast and has rejected any withdrawal from its controlled territories. The talks have been marked by frustration in Kyiv, where officials feel the U.S. has acted more as a mediator than an ally.

Ukraine wants a Zelenskyy-Putin summit to jolt stalled US-led peace efforts

Ukraine wants a Zelenskyy-Putin summit to jolt stalled US-led peace efforts

Kyiv’s top diplomat says Ukraine is pushing for direct talks between President Zelenskyy and Russian President Putin

US waiver set to keep Russian oil exports to India near record high

US waiver set to keep Russian oil exports to India near record high

MOSCOW/LONDON, April 21 (Reuters) - Russian oil sales to India are set to remain near record highs in April and May following a new U.S. sanctions waiver, and refiners have already secured much of their supply needs via non-sanctioned entities and vessels, traders said and data showed on Tuesday.

Tables turn as Republicans face gas-price attacks they once used on Democrats

Tables turn as Republicans face gas-price attacks they once used on Democrats

By Nathan Layne BRIGHTON, Michigan, April 22 (Reuters) - Tom Barrett tapped into voter frustration over high gas prices as part of his successful 2024 run for Congress in Michigan. Now the Republican is on the defensive on that same issue as Democrats see an opportunity to flip his seat.

Putin's Strategic Limitations Highlighted by Dependency on China

Putin's Strategic Limitations Highlighted by Dependency on China

Vladimir Putin's Russia is increasingly constrained in its geopolitical maneuvers, particularly in its relationship with China. The EU Institute for Security Studies highlights a 'pronounced dependency gap' where China holds more strategic flexibility compared to Russia. This dependency is exacerbated by Russia's need to export sanctioned oil to China to fund its war in Ukraine. Despite Russia's attempts to project power, it is seen as a second-order power, more shaped by global events than shaping them. The Kremlin's rhetoric, often aimed at mocking Western allies, is viewed as a projection of its own weaknesses, as Russia remains entangled in the Ukraine conflict and economically reliant on China.

International Energy Agency Warns of Historic Energy Crisis Amid US-Israel Conflict with Iran

International Energy Agency Warns of Historic Energy Crisis Amid US-Israel Conflict with Iran

The International Energy Agency (IEA) has declared the ongoing conflict between Iran, the United States, and Israel as the worst energy crisis in history. The crisis has severely impacted maritime traffic in the Strait of Hormuz, a critical passage for global oil and liquefied natural gas flows. This situation is compounded by the effects of Russia's war with Ukraine, which disrupted Russian gas supplies to Europe. The IEA has responded by releasing 400 million barrels of oil from strategic stockpiles to mitigate rising oil prices. The agency's head, Birol, emphasized the severity of the crisis, comparing it to previous energy crises in 1973, 1979, and 2022.

Middle East crises divide Europe with rising fuel costs and tensions over Israel policy

Middle East crises divide Europe with rising fuel costs and tensions over Israel policy

Europe's top diplomats are meeting in Luxembourg to address multiple crises, including the ongoing war in Ukraine and economic instability due to the conflict in Iran

Hormuz shipping again near standstill after shots and seizure

Hormuz shipping again near standstill after shots and seizure

By Jonathan Saul and Nerijus Adomaitis LONDON, April 20 (Reuters) - Ships were largely avoiding the Strait of Hormuz on Monday after an escalation at the weekend in which Iran fired what appeared to be warning shots at vessels and the U.S. military seized an Iranian cargo ship.

The Kremlin, on the U.S. waiver, says you cannot ignore Russia's oil volumes

The Kremlin, on the U.S. waiver, says you cannot ignore Russia's oil volumes

MOSCOW, April 20 (Reuters) - The Kremlin, when asked on Monday about a U.S. sanctions waiver on some Russia's oil exports, said that Russia was a responsible and important player on global energy markets and that it was hard not to take Russia's export volumes into account.