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Middle East War: Global Economic Fallout
Middle East war has raised oil prices above $100 per barrel and caused fuel rationing and electricity hikes across multiple countries, while shipping routes shift globally, analysts say.
- Nations across Asia and Europe implemented emergency measures on Tuesday as the Middle East war triggered a global energy crisis, forcing governments to ration fuel and hike electricity costs.
- Attacks struck a Kuwait-flagged crude tanker at Dubai Port and a desalination plant on Qeshm Island, intensifying tensions in the Strait of Hormuz where President Donald Trump warned he would destroy the Kharg Island oil export hub if the strait did not "immediately" open.
- Daily passages through the Panama Canal reached 40, exceeding the expected 34, as Deputy Administrator of the Panama Canal Ilya Espino de Marotta reported vessels are navigating away from conflict zones.
- Indonesia mandated work from home for civil servants and rationed fuel on Tuesday to conserve energy stocks, while Sri Lanka announced a nearly 40 percent electricity price increase starting Wednesday.
- Eurozone inflation reached 2.5 percent in March as crude oil remains well above $100 a barrel; Lithuania will slash domestic train ticket prices by 50 percent between April 1 and May 31 to provide travelers relief.
57 Articles
57 Articles
The war conflict in the Strait of Ormuz triggers a dangerous escalation that threatens the stability of the global economy. Risks increase and lead to a balance of altered markets, stagnant growth forecasts, skyrocketing fuel prices and interrupted supply chains. The spectre of rising inflation or real possibilities of stagflation affects various countries. Iran points a weapon at the head of the world economy. By strangling maritime traffic thr…
Continued attacks and counter-attacks on refineries, pipelines, gas fields and oil terminals in the Persian Gulf threaten to prolong global economic pain for months, even years.
Oil prices continue to rise, which increases the cost of plane tickets, as well as other forms of transportation. Increasing global uncertainty is changing tourist flows around the world, and in such circumstances, Serbia will not remain on the sidelines either. Although a drop in the number of tourists from more distant destinations and higher-paying guests is expected, Serbia could also feel the benefits of this crisis.
Middle East Conflict: Global Economic Slowdown, Rising Prices & Fuel Crisis
Archyde Escalating tensions in the Middle East, particularly following disruptions to shipping lanes like the Strait of Hormuz, are injecting significant volatility into the global economy. Oil prices have surged, triggering ... Read More The post Middle East Conflict: Global Economic Slowdown, Rising Prices & Fuel Crisis appeared first on Archyde.
Fallout Of An Illegal War, Sri Lanka Never Chose Or Fought!
By Mohamed Harees – Lukman Harees “Why is it in America’s interest to arm and fund Israel to draw America into an unnecessary war?” — Kenneth Roth, former executive director of Human Rights Watch On a busy street in Colombo, the signs of a distant war rarely announce themselves directly. There are no sirens, no air raids, no missile trails overhead. But the effects arrive anyway, often invisibly at first, then all at once: a rise in fuel costs, …
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