India relies on huge quantities of cooking gas that is normally shipped from the Persian Gulf.
The threats to shipping in the Strait of Hormuz are complicating President Trump’s calculations about how and when to end the war.
With attacks and threats, Tehran is using the world’s most important transit point for oil and gas as leverage against its enemies.
The price of jet fuel and diesel has surged since the war in Iran began, which could force airlines and trucking companies to pass on higher costs to their customers.
Brazil, China and Russia all denounced the U.S.-Israeli attacks, but other nations in the BRICS group haven’t, even though Iran is a fellow member.
Prices for liquefied natural gas have shot up in recent days, which could bring bigger profits for European and U.S. energy companies.
Markets in Europe and the United States appeared to stabilize after days of turmoil, but stocks in Asia fell sharply.
Israel’s granting of an export permit is the final step to allow the deal, first announced by energy companies in August, to proceed.
The U.S. seizure of a vessel off Venezuela is likely to squeeze the country’s government, but do little to counter the tankers that secretively move oil from sanctioned countries.
President Trump’s new National Security Strategy describes a country that is focused on doing business and reducing migration while avoiding passing judgment on authoritarians.