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A bigger and longer crisis
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
How Russia gains from the Hormuz supply shock
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
Letter from London: The oil market should panic tomorrow
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
Letter from Dubai: A safe haven under fire
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
Trump’s bid to reshape the global energy order
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
The diesel crisis
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
Energy dominance as diplomatic leverage
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
Explainer: Fujairah on high alert
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
Middle East oil vulnerabilities have been exposed
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
How Hormuz chokehold threatens LNG buyers
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
Iranian presidential candidate Masoud Pezeshkian
Iran Politics
Danial Rahmat
17 July 2024
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Iran to hold on to Eastern promise

New reformist leadership is unlikely to see any quick changes to relations with the West, but Iran has opportunity to boost its energy and foreign policy options

Masoud Pezeshkian, a classic reformist and former member of parliament, has emerged as the new president of Iran following an election held after the death of the country’s pro-East president, Ebrahim Raisi, resulting in the resurgence of reformists in Iranian politics. Just three months ago, even the most optimistic political observers in Iran saw little chance of Pezeshkian securing a seat in parliament, let alone the presidency. But Iran now has a president who, during his campaign, emphasised efforts to resolve issues with the West. Iran's foreign policy is influenced by a complex and opaque mix of geopolitical, ideological, economic and political factors, making it difficult to define a

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