The Group of Seven (G7), which is made up of the US, the UK, France, Japan, Italy, Germany, and Canada, and the European Union (EU), announced on Saturday it was willing to take necessary measures to ensure the security of global energy supplies and reaffirmed the importance of safeguarding maritime routes, including the Strait of …
The US plans to announce as early as the upcoming week that multiple countries have agreed to form a coalition that will escort ships through the Strait of Hormuz, the Wall Street Journal (WSJ) reported on Sunday, citing unnamed American officials. They reportedly said discussions were still underway as to when those operations would begin, …
The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve (SPR) in an effort to bring down soaring energy prices triggered by the US-Israeli war with Iran, US Energy Secretary Chris Wright said on Wednesday. “The US will release 172 million barrels of oil from its strategic petroleum reserve in …
NEW DELHI: Policymakers are keeping a close eye on oil prices and goods movement in the wake of the latest tension in West Asia, while maintaining that it’s too early to assess the impact on the economy.The first direct impact will be felt through energy prices, especially with India dependent on imports for bulk of …