Energy News | LeadStory

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Europe faces gas squeeze as prices surge amid Iran war

Gas storage facilities across Europe are significantly emptier than usual following a harsh winter, with levels at just 28 percent compared to 58 percent two years ago. The Netherlands' storage stands at only 5 percent, while Germany's...

Al Jazeera

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Why the Iran war is causing a fuel crisis across Africa

The Iran war has disrupted fuel imports across Africa, with countries facing energy shortages, soaring prices and fertiliser supply issues.

Al Jazeera

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How Germans feel about daily fuel price freeze

As escalating tensions in the Middle East drive crude oil prices higher, Germany has introduced a new law to curb fuel price gouging. Many drivers, however, remain doubtful it will bring real relief.

DW News

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Russia to ban petrol exports

The Russian government is imposing a complete ban on petrol exports. The decision is meant to prevent Russian petrol producers from selling abroad. While Moscow continues to export crude oil and other oil products including diesel, despi...

Al Jazeera

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South Africans load up on fuel as Iran war leads to major price hike

South African motorists headed to gas stations in large numbers in anticipation of record fuel hikes that will come into effect at midnight as the world continues to feel impacts of the Iran war that has affected global oil and fuel prices.

Africanews

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Brussels urges EU states to 'coordinate' in face of oil price hike

The European Commission has urged EU member states to make "timely and coordinated preparations" to secure oil supplies in the face of surging energy prices caused by the Middle East war. U.S.-Israeli attacks on Iran and Tehran's retalia...

France 24

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EU warns energy prices won’t fall quickly after Iran war

The EU has warned that oil and gas prices will not go down any time soon, even if the Iran war ends, citing pressure on fuel supplies and tight global markets, as it prepares support measures for households and businesses.

Euronews

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No end in sight for rising gas prices across U.S.

Continued military operations in the Middle East means no relief for consumers hoping for cheaper gas prices. FOX 4's Vania Castillo spoke to an expert on what exactly you're paying for at the pump.

Fox News

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DoorDash driver feels the squeeze as gas prices top $4 a gallon in many states

Drivers in at least 13 states across the country are paying an average price of $4 a gallon or more for gas. Jason Allen spoke to a man who's feeling the strain with his second job as a DoorDash driver.

CBS America

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Farmers, truckers feel pinch of rising energy costs

The average cost of a gallon of regular gas is now over $4 for the first time since 2022, when Russia invaded Ukraine. Diesel prices also rose on Tuesday, reaching $5.45 a gallon. When energy prices rise, the prices of most other goods r...

CBS America

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Asian governments scramble to contain fuel costs

Geopolitical turmoil and soaring energy costs are rattling financial markets across Asia as governments scramble to address supply disruptions and economic fallout from the ongoing War in Iran and the closure of Strait of Hormuz.

Al Jazeera

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Russian oil tanker docks in Cuba after U.S. allows passage

Cuba used to receive most of its oil from Venezuela, but those shipments were halted ever since the U.S. attacked the South American country and arrested its leader Nicolás Maduro in early January.

Euronews

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Iran war energy shock puts ECB on alert

The Iran war has sent oil and gas prices surging and rate hike bets rising, but ECB chief Christine Lagarde says the eurozone is far better placed to absorb the shock than it was when Russia invaded Ukraine.

Euronews

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Why Kharg Island is essential to Iran

Iran's Kharg Island is crucial to the country's economy due to its role as an oil export hub. CBS News' Michael George explains.

CBS News

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Why some Cubans see a brighter future beyond oil blockade

Cubans have been living through power outages since the start of a U.S.-imposed oil blockade three months ago. For The National, CBC’s Jorge Barrera goes to the island to gauge how it’s changed daily life and how they view the future.

CBC News

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Rising gas prices could ripple across the economy

Higher oil prices are hitting consumers at the gas pump hard. Meanwhile, economists warn they could lead to inflation as financial markets struggle to recover from five weeks of losses. Jason Allen has more.

CBS America

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Oil prices are skyrocketing as Iran war continues

Oil prices are rising as President Trump contemplates a ground operation in Iran. The Wall Street Journal's Spencer Jakab has more.

CBS News

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Iran war pushes U.S. gas prices near $4

The ongoing conflict involving Iran has pushed U.S. gas prices to a national average of $3.99 per gallon, with international oil benchmark Brent crude rising to $115 per barrel.

Scripps News

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Nigeria's giant oil refinery fails to prevent record gasoline prices

Fuel prices in oil-producing Nigeria have reached record-high levels, industry figures show, as maximum output from the giant Dangote Petroleum Refinery has failed to shield the country from the energy market impact of war in the Middle ...

Reuters

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Airlines face fare dilemma as fuel spike threatens travel demand

Global airlines have begun to hike fares and cut capacity to cope with the sudden surge in oil prices, but the industry's ability to remain profitable may depend on whether consumers pull back on flying as gasoline costs threaten househo...

Reuters

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Nigeria's refinery faces increased demand for oil amid Iran war

As the conflict in the Middle East disrupts global energy shipments, African nations are facing a fuel supply crisis. To cope, countries like Ghana, South Africa, and Kenya are looking to Nigeria’s massive Dangote Refinery. But one plant...

Al Jazeera

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Iran war at crossroads as economic uncertainty hit global markets

David Martin reports on how the Iran war is at a crossroads as it enters its second month, with the global impact of rising oil prices and economic uncertainty at center stage.

CBS News

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Iraq's economy at risk: War in neighbouring Iran impacts oil exports

Iraq is being affected by the war in Iran through escalating attacks and a worsening economic situation. Disruptions in the Strait of Hormuz have reduced oil revenues and driven up prices, increasing pressure on the government and raisin...

Al Jazeera

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Could Trump suspend federal gas tax as Iran war continues?

President Trump said he could consider suspending the federal gas tax as the conflict in the Middle East continues. Barron's reporter Jacob Sonenshine joins CBS News with more.

CBS America

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Curfews, EVs and ethanol: African countries trying to save fuel

Egypt has ordered shops, restaurants and shopping malls to close from 9:00 pm from Saturday, hoping to curb energy bills that have more than doubled because of the Iran war.

Africanews

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Asia hit hard by disruptions to energy markets

In the fourth week of the war in the Middle East, countries grappling with fuel shortages have been offered little reprieve. In Asia, countries are particularly vulnerable to disruptions as they are dependent on energy supplies from the ...

France 24

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EU fuel prices: Germany to limit price rises to once per day

Germany will start restricting fuel stations from raising their prices. It’s the latest effort by an EU country to reduce the fallout from the war with Iran. The government has also decided to force oil companies to explain why they are ...

Al Jazeera

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Why the Strait of Hormuz crisis is hitting Europe’s energy supply

Iran's closure of the Strait of Hormuz disrupts energy supplies, pushing European gas prices up 60% since the conflict began.

Al Jazeera

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Oil markets look for direction amid conflicting messages

As the prospect of de-escalation in the Iran war remains uncertain, oil prices are rising, with the international benchmark Brent trading above $106 a barrel on Thursday morning.

Euronews

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Meloni says Italy to boost cooperation with Algeria on gas deliveries

Italian Prime Minister Giorgia Meloni said during a visit to Algeria that the two countries would work together towards "increasing deliveries of Algerian gas" to the EU member state. The two would work together on projects including sha...

France 24