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08.05.26 - 16:24
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Gulf crisis: Govt says fuel supply, prices stable despite global oil market turmoil (Times of India)
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India has successfully navigated the Middle East crisis, ensuring stable fuel supplies and uninterrupted maritime operations. Despite global price surges, consumers are shielded through excise duty cuts and increased domestic production. State-run oil companies are absorbing significant daily losses to maintain current prices, while Indian seafarers in the Gulf remain safe and maritime operations at Indian ports are normal....
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08.05.26 - 07:18
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Oil at $101 but could Strait of Hormuz crisis push prices to $200? (Times of India)
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Escalating Middle East conflict has choked the world's busiest oil passage, pushing crude prices past $100 per barrel with warnings of a surge to $167 or higher. A prolonged closure of the Strait of Hormuz threatens a severe energy and trade shock, potentially reducing global trade growth significantly and deepening economic uncertainty worldwide....
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07.05.26 - 14:24
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Both left and right are deluding themselves about the scale of the energy crisis Britain faces | Ewan Gibbs (The Guardian)
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Decades of complacency cannot be magicked away by drilling in the North Sea – or even by hoping that renewables will quickly power everythingEwan Gibbs is a historian of energy at the University of GlasgowFirst it was Russia's full-scale invasion of Ukraine, now it is the blockade of the world's petroleum artery in the Gulf. For the second time in four years, Britain is facing an energy crisis that has been made much worse because of the absence of preparation by its political leaders.The fact is that our energy politics were conceived for a world where convulsive, global events were a thing of the past. The notion that it would be difficult to access supplies of oil or liquefied natural gas from the international markets did not figure in the understanding of the politicians and officials who shaped our perilous current moment. But even today, the advocates of energy sovereignty on the left and right appear to lack knowledge, understanding or power over this very foundational matter.Ewan Gibbs is a h...
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07.05.26 - 13:30
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Airlines still have to pay compensation if flights cancelled due to fuel crisis, EU says (The Guardian)
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Ryanair says that unlike others it will not be cancelling summer flights, as it hedged fuel contracts before Iran warBusiness live – latest updatesAirlines that cancel flights because of fuel shortages this summer will still have to compensate passengers under European law, the EU transport commissioner has said.Apostolos Tzitzikostas told the Financial Times that jet fuel prices or shortages did not meet the criteria that protect EU airlines from passenger claims. Continue reading......
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