Washington, April 16 (IANS) The Trump administration has linked the outlook for US fuel prices to developments in the Iran conflict, saying a sustained drop in gasoline costs will depend on the reopening of the Strait of Hormuz and progress in ongoing negotiations. Treasury Secretary Scott Bessent told reporters at a White House news conference on Wednesday (local time) that the timing of lower gas prices remained uncertain, citing disruptions in global oil flows linked to tensions involving Ira…
Latest Global Energy Flows News & Updates
New Delhi, April 4 (IANS) Another India-flagged liquefied petroleum gas (LPG) tanker, Green Sanvi, transited east of the Strait of Hormuz, according to ship tracking data, making it the seventh Indian vessel to clear the maritime chokepoint safely amid the West Asia conflict. The vessel used a designated corridor through Iran’s territorial waters to navigate the strategically sensitive waterway.The tanker is estimated to be carrying around 44,000 tonnes of LPG, roughly equivalent to half a day…
Washington, March 31 (IANS) The Trump administration on Monday acknowledged rising fuel costs linked to the ongoing Iran conflict but described them as “short-term fluctuations”, even as it defended its military campaign and broader strategy to stabilise global energy markets. Press Secretary Karoline Leavitt said the administration was “fully tracking this short-term fluctuation in oil and diesel prices” and had taken steps to increase supply and ease pressure on consumers.She said meas…
Washington, March 13 (IANS) The world is facing a “significant disruption in the short term” to secure global energy flows in the long run, US Energy Secretary Chris Wright said, defending Washington’s decision to release oil reserves amid the war involving Iran.“We’re in the midst of a significant disruption in the short term to fix the security of energy flow for the long term,” Wright said in an interview with CNN.The United States has announced plans to release about 172 million …