An electric vehicle (EV) is left to charge at a charging station in Tehran on February 23, 2026. Atta Kenare | Afp | Getty Images The sprawling Middle East crisis is expected to spur drivers to abandon traditional internal combustion engine vehicles in favor of EVs, analysts told CNBC, although early evidence suggests this will…
Hello, this is Priyanka Salve, writing to you from Singapore. Welcome to the latest edition of “Inside India“ — your one-stop destination for stories and developments from the world’s fastest growing large economy. Indian markets have been rattled by the Iran war, with foreign investors fleeing and valuations slipping to rare lows. But fund managers…
Smoke emanates from smokestacks from an oil refinery in Linden, New Jersey, on March 18, 2026. Kena Betancur | AFP | Getty Images Crude prices extended gains during Asia trading as escalating attacks in the Persian Gulf and U.S. President Donald Trump‘s signals on exiting the Iran conflict even as the Strait of Hormuz remains…
U.S. gasoline prices have surged above $4 per gallon for the first time in more than three years, as the oil supply shock triggered by the Middle East war rapidly drives up costs for families. Prices at the pump hit a nationwide average of $4.018, the highest level since August 2022 when Russia’s war against…
Workers install solar power infrastructure at a public parking lot within the National Assembly grounds in Yeouido, Seoul, on March 26, 2026. Nurphoto | Nurphoto | Getty Images South Korea on Tuesday proposed a supplementary budget worth 26.2 trillion won (about $17.1 billion) to ease the burden of rising energy prices on households and industries…
In 1973, OPEC proclaimed an oil embargo on the U.S. for its decision to resupply the Israeli military during the Yom Kippur war. The embargo lasted until March 1974, and during this time oil prices quadrupled. To control supply, the federal government under Nixon rationed oil, by state, to 1972 levels. By February 1974, it…
An old Soviet-era Lada car drives past a truck belonging to a private Cuban company (mipyme) parked in front of a gas station with an IsoTank of imported fuel in Havana on March 19, 2026. Adalberto Roque | Afp | Getty Images A Russian oil tanker carrying a humanitarian shipment of 100,000 tons of crude…
BAHRAIN – APRIL 17: Aluminium ingots seen at the Aluminium Bahrain B.S.C plant in Bahrain, Tuesday, April 18, 2006. (Photo by Phil Weymouth/Bloomberg via Getty Images) Bloomberg | Bloomberg | Getty Images Aluminium Bahrain, which hosts the world’s largest smelter of the metal, said on Sunday its facility was subjected to an Iranian attack as…
The clock is ticking on the U.S.-Israeli war in Iran. The emerging view from oil industry executives and analysts is that the economic and market fallout from the war could escalate sharply if the Strait of Hormuz isn’t reopened within roughly the next one to three weeks. Even then, enough damage may have been done already…
HOUSTON — The CEOs of the world’s most influential oil and gas companies delivered a sobering message this week about the impact of the Iran war on energy supplies and the long-term consequences for the global economy. The executives gathered in Houston, Texas, for S&P Global’s annual CERAWeek energy conference to take stock of the…
