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China largely insulated from global energy price shocks
Although China is the world’s largest net oil importer and a major purchaser of Iranian crude, several factors mitigate the impact on its economy.
Washington to open strategic oil reserves, release 172mn barrels
The United States will release 172mn barrels of oil from its emergency stockpiles starting in the week as part of an effort to curb rising energy prices following the outbreak of war.
Seoul to release 22.46mn barrels from oil reserves
South Korea will release 22.46mn barrels of crude oil from its strategic petroleum reserves as part of a coordinated plan by members of the International Energy Agency to supply 400mn barrels to global markets.
Vietnam fuel prices climb again despite stabilisation fund intervention
Fuel prices in Vietnam rose again on March 11, despite the government drawing on its fuel price stabilisation fund to soften the impact of global oil market turmoil.
US Navy says Straits of Hormuz too dangerous to traverse
The US Navy has declined repeated requests from the shipping industry to escort commercial vessels through the Strait of Hormuz since the outbreak of the war with Iran, saying it is too dangerous to traverse.
IEA agrees record release of 400mn barrels from emergency oil reserves to counter Gulf War impact
The IEA agreed on March 11 to release a record 400mn barrels from emergency oil reserves, dwarfing its 2022 Ukraine-linked release, as Iran's closure of the Strait of Hormuz and attacks on Gulf energy infrastructure drive prices higher.
Japan to release oil reserves to counter supply risks
Japan plans to begin releasing oil reserves as early as March 16 in an effort to contain a potential surge in petrol and other petroleum prices brought about by the conflict in the Middle East.
Egypt aims to save $731.5mn from fuel price hikes
Egyptian Ministry of Petroleum and Mineral Resources is targeting savings of around EGP 38bn ($731.5mn) from the recent increase in fuel prices during the remaining four months of FY 2025/26
Nigeria approves fiscal incentives for Shell-led $20bn deepwater Bonga Southwest Aparo oil project
By approving fiscal incentives to unlock the $20bn Bonga Southwest Aparo deepwater oil project operated by Shell, Nigeria aims to enable a long-delayed investment decision and revive large-scale offshore investment in its oil sector.
Extreme heat increasingly limiting daily activity for both old and young
The number of days where extreme heat makes it too dangerously hot to go outside or engage in ordinary activities has doubled over the past 75 years, according to according to a paper published in the journal Environmental Research: Health.
Asia confronts energy price shock
Asian governments are working out how to tackle a sharp rise in energy prices and growing concerns about energy security across the continent, in the process prompting a range of policy responses.
IEA proposes the largest ever release of oil reserves
The International Energy Agency has proposed the largest release of oil reserves in its history to restrain soaring crude prices amid the US-Israel war with Iran, the Wall Street Journal reported on March 10.
Middle East war sends shockwaves through Asian plastics market
Industry participants are already hurting by way of feedstock markets, particularly naphtha and liquefied petroleum gas, which combine to underpin much of Asia’s plastics production.
Mongolia demands Rio Tinto change “unfair” terms of deal on giant Oyu Tolgoi copper mine
Government acts amid rising copper prices and growing support for resource nationalism.
LATAM BLOG: Iran war fuels Venezuela's oil comeback, but democracy lags behind
Caracas stands to gain from surging crude prices triggered by the closure of the Strait of Hormuz, but Washington's control over its oil income means the bonanza may consolidate authoritarian rule rather than rebuild a broken state.
Egypt increases fuel prices by 14-17% amid regional turmoil
In response to the intensifying energy crisis gripping the Middle East, the Egyptian government has announced up to 17% increase in the prices of petroleum products and natural gas for vehicles
South Korea backs Philippines nuclear energy revival
South Korea has taken a formal step towards supporting the Philippines’ return to nuclear energy, with three major institutions signing an agreement to cooperate on future atomic power projects.
COMMENT: Oil at or above $100 per barrel threatens Indonesia’s Eid spending
Indonesia is heading towards the end of Ramadan, and Eid this year, under a massive cloud of economic stress.
G7 weighs coordinated oil reserve release on back of price surge
Finance ministers from the Group of Seven nations have discussed a possible coordinated release of oil reserves. The discussion was held as part of an online meeting on March 9 and also involved the International Energy Agency.
Serbia aims to begin construction of first nuclear power plant before 2035
Belgrade lifted a decades-long ban on nuclear power construction in 2024 and has since held discussions with several potential partners, including France’s EDF and South Korea’s KHNP, as well as Rosatom.
Iran warns against targeting energy infrastructure following storage strike
Iran has issued a stark warning to the US and Israel against further strikes on its critical energy infrastructure, threatening reciprocal action across the Middle East.
Scientists confirm 2025 as third-hottest year on record
Global temperatures in 2025 ranked as the third-highest on record, according to analyses released by three major climate monitoring agencies, highlighting the continued acceleration of human-driven warming despite cooling influences from La Nina.
Central Asia shaken by fears of huge acid rain cloud heading to region from Iran
Officials struggle to convince inhabitants that the science shows Israeli bomb strikes on Iranian oil depots cannot lead to such a nightmare.
Egypt tenders 10 oil storage depots amid Red Sea maritime shifts
Egypt has invited international energy firms to lease 10 major oil and petroleum product storage facilities at the Ain Sokhna and Ras Badran ports on the Red Sea.
The Straits of Hormuz have closed, but a trickle of tankers still getting through
Iran’s military declared the Straits of Hormuz were shut on March 2 and traffic fell to nearly zero within a day. But it is not at zero. At least five ships have traversed the passage since the blockade began.
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