Fuel Pass was granted to fewer beneficiaries than those originally appreciated by the government. According to reports, the number of those who received the Fuel Pass of 50 or 60 euros for the two-month March – April, with the data available so far, in order to mitigate the cost of petrol was 2,432,475. The number of those who submitted [...]
Before the Middle East war, 40 tankers carrying 20 million barrels of crude oil and petroleum refining products crossed the Straits of Hormuz every day. Now few are tankers can pass through the Straits of Hormuz. Energy prices are projected to increase by 24% this year, at their highest level from [...]
The oil crisis caused by the war in Iran has permanently changed the fossil fuel industry, prompting countries to move away from them in order to secure their energy supply, said the leading economist and energy expert, Fatih Birol. The Executive Director of the International Energy Agency (IEA) also said that, despite [...]
Prices of crude oil were launched Wednesday, with Brent over $100 a barrel, reaching $101.91, while West Texas Intermediate closed at $92.96, with an increase of over 3%. The increase was caused by the occupation of two container transport ships by the Guards of the Iran Revolution in the Straits of Hormuz. Despite the extension of the truce by Donald Trump, oil flows remain intermittent and the US retain Iran's naval blockade, as peace talks collapsed.
