According to the Financial Times, citing industry sources, if disruptions in the Strait of Hormuz persist, the EU could face a “systemic” jet fuel deficit within the next three weeks.
According to Bloomberg, these cargoes were offered last week at discounts of up to 40% to spot prices.
According to Kazakhstan’s Energy Ministry, the exemption was agreed with the US Treasury and effectively ensures the continuity of supplies amid turbulence in global energy markets.
According to the Financial Times, rising energy costs have pushed nuclear power back into the center of Germany’s policy debate.
According to Bloomberg, several tankers carrying diesel that had departed from the US toward Europe in recent weeks have sharply changed course in the Atlantic.
It is reasonable to assume that the conflict may drag on. If so, the impact will not be limited to commodities markets. Energy sits at the core of modern industrial systems, and through petrochemicals it connects — directly or indirectly — to almost every sector of the global economy.
Speaking at the CERAWeek by S&P Global conference in Houston, Wirth said significant volumes of oil and gas are currently not reaching the market.
Thus, the Supreme Court’s ruling is most likely not the end of the story, but the beginning of a long battle over the limits of presidential power in the economy.
According to Bloomberg, the country is considering imports of gasoline and diesel as traditional supply routes come under pressure.
