The International Monetary Fund (IMF) has cut its economic outlook for the world economy and warned it could sink into a recession if the Iran war is not soon resolved. In its April 2026 World Economic Outlook, the Bretton Woods institution has predicted that global GDP will expand by 3.1% in the current year, down from its earlier projection of 3.4%, if the conflict is short-lived and oil prices soon normalize to around $82 per barrel. However, the IMF says the economy might expand by 2.5% if the tensions linger for long and oil prices average…

Oil prices are up by over 50% since the end of February, ready for further gains should the situation in the Middle East deteriorate again. Supply is tight and getting tighter by the day. A fifth of global LNG supply is offline. The energy sector is once again hot, and commentators are talking about a new supercycle. Investors rushing to oil and gas stocks would be unsurprising, but perhaps some caution is advisable. Oil prices have made significant gains since the start of the year as the February 28th U.S. and Israeli strikes on Iran and the…

The seven-week-long war in Iran has shown that the regions are not equally hurt by the worst oil and gas disruption in history. Asian countries, which are most dependent on oil and LNG flows from the Middle East, are already grappling with fuel shortages, airlines are raising fares and grounding flights, and refiners bid for every non-Middle Eastern barrel in a fierce competition to procure crude.   That’s true for most of Asia, but not for China. Beijing has been amassing crude into commercial and strategic storage over the past year—at…

The global battery sector is on fire – and we’re not just talking about lithium-ion battery explosions. In 2025, the global lithium-ion battery market topped USD $150 billion in 2025, marking a stunning 20 percent year-on-year increase. But current lithium-ion battery design has some key limitations, opening up a potentially massive market for competitive designs. One of the major frontrunners are solid-state batteries, which could potentially offer higher energy density, faster recharging times, and better safety than battery cells…

Asia is caught between a market it cannot afford to buy from and a supply line that will take weeks to restart, in a best-case scenario. Negotiations remain ongoing, though not in person in Islamabad. What lies ahead is a complex, volatile process: posturing, brinkmanship, and game theory playing out across multiple scenarios until one side yields. The path will be messy and could carry major consequences for Asia Pacific economies. Even if access through the Strait of Hormuz progressively normalizes, new loadings face voyage times of three to…

Norway's crude oil export earnings surged 67.9% year-on-year in March to a record 57.4 billion kroner ($6.1 billion), primarily driven by soaring global energy prices following the outbreak of the Iran war and the subsequent closure of the Strait of Hormuz. Oil prices averaged 1,014 kroner ($107.52) per barrel in March, the highest monthly average since September 2023. As Europe’s largest producer of oil and natural gas, the Scandinavian country exported 56.6 million barrels of crude oil in March, good for nearly 2 million barrels per day.…

Norway's crude oil export earnings surged 67.9% year-on-year in March to a record 57.4 billion kroner ($6.1 billion), primarily driven by soaring global energy prices following the outbreak of the Iran war and the subsequent closure of the Strait of Hormuz. Oil prices averaged 1,014 kroner ($107.52) per barrel in March, the highest monthly average since September 2023. As Europe’s largest producer of oil and natural gas, the Scandinavian country exported 56.6 million barrels of crude oil in March, good for nearly 2 million barrels per day.…

Norway's crude oil export earnings surged 67.9% year-on-year in March to a record 57.4 billion kroner ($6.1 billion), primarily driven by soaring global energy prices following the outbreak of the Iran war and the subsequent closure of the Strait of Hormuz. Oil prices averaged 1,014 kroner ($107.52) per barrel in March, the highest monthly average since September 2023. As Europe’s largest producer of oil and natural gas, the Scandinavian country exported 56.6 million barrels of crude oil in March, good for nearly 2 million barrels per day.…

Negotiations for an end to the Iran war have so far failed, and the Strait of Hormuz remains effectively closed. On Monday, the US military started blockading ships entering and exiting Iranian ports. President Trump said Iranian ships would be “immediately eliminated” if they approach the blockade, which is meant to force Tehran back to negotiations. At least five countries — Sri Lanka, Myanmar, Cambodia, Bangladesh, and Slovenia — are rationing fuel and implementing mandatory purchase limits to conserve supply. Major…

The national average for 87-octane gasoline has remained above the politically sensitive $4-a-gallon level for two straight weeks after the largest monthly jump in AAA data going back two decades. The fuel shock has Wall Street analysts focused on whether surging pump prices will begin crowding out discretionary spending. Bank of America CFO Alastair Borthwick told analysts on a conference call earlier today that the fuel shock at the pump has not undermined overall consumer strength so far, though that could change if the Hormuz chokepoint is…

Last month, U.S. President Donald Trump issued a 60-day waiver for the Jones Act in a bid to lower oil prices amid severe supply disruptions due to the closure of the Strait Of Hormuz. The Jones Act, aka Merchant Marine Act of 1920, is a federal statute requiring that all goods transported by water between U.S. ports be carried on ships that are U.S.-built, U.S.-owned, U.S.-flagged and U.S.-crewed. The law is meant to ensure a reliable, domestic shipyard industrial base and skilled mariners in times of war or national emergency, and also protects…

The national average for 87-octane gasoline has remained above the politically sensitive $4-a-gallon level for two straight weeks after the largest monthly jump in AAA data going back two decades. The fuel shock has Wall Street analysts focused on whether surging pump prices will begin crowding out discretionary spending. Bank of America CFO Alastair Borthwick told analysts on a conference call earlier today that the fuel shock at the pump has not undermined overall consumer strength so far, though that could change if the Hormuz chokepoint is…

In Dubai, rows of cars bound for Kyrgyzstan are sitting idle. Aktilik Alipbay uulu, a Kyrgyz importer based in the city, isn't sure when they'll move. "We haven't received clear information like 'load now, it will arrive in 35–40 days,'" he says. "So, we are keeping the cars in garages. These are entrusted goods. If something happens at the port, it would mean losses for us." Previously, cars shipped by ferry across the Persian Gulf to Iranian ports then traveled overland to Bishkek. With the war in Iran, that supply chain has slowed significantly.…

U.S. President Donald Trump has again threatened to fire Federal Reserve Chair Jerome Powell if he does not leave office when his term as chair ends in May. The Trump administration has nominated Kevin Warsh to succeed Powell; however, his confirmation is currently tied up in the Senate. Historically, Fed chairs typically resign from the board once their leadership term ends; however, Powell stated in March that he has no intention of leaving until a Department of Justice investigation into the Fed's headquarters renovation is "well and truly over’’.…

A defining pillar of President Trump’s America First agenda has been national energy security. Paired with the diplomatic momentum of the Abraham Accords, that strategy has reshaped regional alliances, strengthened U.S. partnerships and reinforced economic stability at home.  Today, both pillars are under strain. The widening war with?Iran?has triggered one of the most severe energy shocks in decades. Oil prices have surged above $115 per barrel as markets react to escalating tensions and the risk…

China is tentatively considering whether to curb exports of solar manufacturing equipment to the United States in what could become another significant export restriction of a technology in which Chinese companies are global leaders. Officials in China have discussed whether such a measure should be implemented, but talks have not progressed yet to asking feedback from the Chinese manufacturers on a potential restriction, Reuters reported on Wednesday, citing numerous sources familiar with the deliberations.     Over the past two…

China is tentatively considering whether to curb exports of solar manufacturing equipment to the United States in what could become another significant export restriction of a technology in which Chinese companies are global leaders. Officials in China have discussed whether such a measure should be implemented, but talks have not progressed yet to asking feedback from the Chinese manufacturers on a potential restriction, Reuters reported on Wednesday, citing numerous sources familiar with the deliberations.     Over the past two…

Australia is facing a historic energy crisis, with much of its Gulf-sourced energy facing not one but two blockades. But at least some parts of the country are doing something about it, even if it is too little, too late.  Western Australia will establish its own strategic reserves of diesel fuel to ease “acute shortages,” the state’s government said. As Bloomberg reports, the government signed a deal with Cambridge Gulf to buy and store 4 million liters of diesel, which is expected to arrive in the coming weeks, according…

Lawmakers in Maine have approved a bill temporarily banning the construction of large data centers until November 2027 in a move that could make Maine the first U.S. state to legislate a pause in the AI centers expansion, which has weighed on consumer energy bills. The Maine Legislature passed the bill, which still needs Governor Janet Mills' final approval. The bill would block large data centers that draw over 20 megawatts of power until November 2027. The bill, LD 307, would also create a new Data Center Coordination Council, which is expected…

Lawmakers in Maine have approved a bill temporarily banning the construction of large data centers until November 2027 in a move that could make Maine the first U.S. state to legislate a pause in the AI centers expansion, which has weighed on consumer energy bills. The Maine Legislature passed the bill, which still needs Governor Janet Mills' final approval. The bill would block large data centers that draw over 20 megawatts of power until November 2027. The bill, LD 307, would also create a new Data Center Coordination Council, which is expected…