The war between Iran and Israel and the crisis in the Strait of Hormuz have rocked global oil markets. Now Syria hopes to open an oil pipeline from Iraq to the Mediterranean and thereby establish itself as a force in the energy market. But the challenges are many.
WorldThe Iran war and the crisis around the Strait of Hormuz have shaken global oil markets. Now Syria hopes to open an oil pipeline from Iraq to the Mediterranean and thereby establish itself as a player in the energy market. But the challenges are many.
WorldThe effects of the Iran war will get worse before they turn around, believes Nordea's oil expert and chief analyst Thina Saltvedt. Even if, contrary to expectations, there were a quick peace settlement, that is when a blockade of the Strait of Hormuz would begin to be felt. That is when oil would start to run out, she tells TT.
BusinessOil supplies are stagnating in the Gulf states, and prices are skyrocketing after the sea route was effectively closed to tankers. A 1,200-mile pipeline across the Arabian Desert offers an outlet, but even that route is fraught with uncertainty and danger.
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