Author: Humaydh Sariffodeen

Gas prices in the United States soared past $4 per gallon for the first time since 2022, as energy infrastructure is increasingly targeted and threatened by all major parties in the war. Overnight, a Kuwaiti oil tanker was struck by what Kuwaitis said was an Iranian drone attack. That came after US President Donald Trump threatened to “obliterate” Iran’s energy facilities if Washington and Tehran don’t reach a deal soon. CNN – March 30, 2026 At the same time, Trump and his administration claim talks with Tehran are still ongoing but they have offered little detail on who they are communicating with,…

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The global economy is under “major threat” from the energy crisis caused by the Middle East war, International Energy Agency chief Fatih Birol said Monday (Mar 23). Speaking at the National Press Club in Australia’s capital, Birol described the crisis in the Middle East as “very severe” and worse than the two oil shocks of the 1970s, as well as the impact of the Russia-Ukraine war on gas, put together. “This crisis, as things stand, is now two oil crises and one gas crash put all together,” he said. CNA – 23 March, 2026 “The global economy is facing a major, major…

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The U.S. dollar jumped on Monday as soaring oil prices sent investors scrambling ​for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth. The greenback pared some gains in ‌the Asian afternoon on a Financial Times report that the G7 finance ministers will discuss on Monday a joint release of oil from emergency reserves coordinated by the International Energy Agency, which sent oil prices retreating slightly after they earlier spiked to just shy of $120 per barrel. Still, the euro and sterling were left trading 0.6% and 0.7% lower, respectively, while the Aussie…

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