Economy

How Russia fits into India’s plan to secure LPG supplies from Hormuz

With 90% of imported LPG running through Strait of Hormuz, India is testing Baltic and Pacific routes to deliver Russian LPG

Orban calls on EU to lift Russia sanctions to avert energy crisis

Hungarian Prime Minister Viktor Orban has called on the EU to return to Russian oil and gas supplies as energy prices soar due to the Iran war

Is the Brent oil spot price really nearing $150?

Brent crude futures are lagging behind real-world spot prices, meaning the impact the US-Israeli war on Iran is having on oil supplies is more extreme than headlines suggest

Europe sets all-time record for LNG imports in March

The supplies from European terminals into the EU gas transmission system reached approximately 13.7 billion cubic meters in the period

Russian foreign trade not declining since 2022, despite sanctions

According to Deputy Head of the Russian Presidential Administration Maxim Oreshkin, the geography and currency of payments changed over that period

FACTBOX: How energy markets, stock exchanges reacted to Trump’s address

The price of futures contracts of Brent crude oil for June 2026 delivery on London’s ICE has risen by more than 6.5% following Trump’s televised address

Gulf Countries Considering New Oil Export Routes

The region is discussing the expansion of existing capacity, including the Saudi Arabian East-West oil pipeline

FACTBOX: What is known about new drone attack on TurkStream compressor station

The holding company clarified that the attack was carried out by three fixed-wing unmanned aerial vehicles

South Africa cuts fuel levy to ease petrol prices as global oil surge hits

South Africa has cut the fuel levy by $0.16 per liter to ease petrol prices as oil surges above $100, offering temporary relief to consumers.

UK faces large-scale economic shock from Iran war, IMF says

The UK is especially exposed to higher energy costs due to its reliance on gas, raising pressure on households and the wider economy, the IMF has warned

India hikes aviation fuel cost to record 207,000 INR per kiloliter

India hikes international ATF prices to record levels amid the Middle East conflict, while domestic airlines see a capped 8.5% rise.

Starmer and Albanese warn citizens the worst is yet to come

British Prime Minister Keir Starmer and Australia’s Anthony Albanese have told their citizens to prepare for economic hardship as the US-Israeli war with Iran continues