The World Needs Natural Gas Now, but the U.S. Is Exporting All It Can
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
The Treasury Department also targeted a top independent Chinese refinery that it said was a major buyer of Iranian petroleum.
The foes are trying to exert control over the narrow passageway. Most ships aren’t moving. Here’s what to know.
The move was intended to ensure the flow of fuel in the United States, but some economists say it might reduce gas prices for consumers only a small amount.
The conflict has morphed into a volatile standoff in the Strait of Hormuz, as the economic costs mount and President Trump faces a political backlash at home.
The war in Iran has disrupted supplies of diesel, used to power trucks and heavy equipment, much more than gasoline, which is primarily used in passenger cars.
A British naval agency said the two vessels had come under attack near the strait, as a U.S. blockade on Iran’s ports continued.
The United States has halted dollar shipments to Iraq’s cash-based economy in an effort to force the Baghdad government to distance itself from Iran. The money comes from Iraq’s oil revenues.
The Treasury secretary said that currency swap line would benefit both the United Arab Emirates and the United States.
Iran’s leaders believe that they can withstand an enduring standoff longer than President Trump. The strategy could be economically devastating for average Iranians.