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The spectre of a European gas price cap returns
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
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
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
European gas: From bad to much worse
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
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
Letter from the Middle East: Aramco provides big global gas reveal
The Saudi energy leader’s announcement of first production at Jafurah and the launch of operations at the Tanajib Gas Plant marks a turning point not just for the company, but for the world’s energy landscape
Letter from Iran: Testing times for Tehran-Beijing crude dynamics
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EU methane regulation could backfire
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Letter from Europe: Gas crossroads
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
Smoke rises from a fire following bombing in Tehran
Gas Egypt Iran Israel
Joseph Murphy
18 June 2025
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Israel-Iran war imperils Egypt’s energy supply

Egypt’s government was already preparing for potential energy shortages this summer, and the loss of Israeli gas supply has made things worse

Egypt is scrambling to contain the risk of widespread power outages over the coming weeks, after a suspension in Israeli gas supplies compounded already mounting concerns over a potential energy shortfall amid the summer heatwave. On 13 June, Israel’s government ordered the shutdown until further notice of the offshore Leviathan field, the country’s largest source of gas supply, following missile strikes on Iran that prompted retaliation from Tehran. Energean, operator of the nearby Karish field, also received an order to temporarily suspend operations. “If the Israel-Iran war and its associated disruption to gas production rumbles on for weeks instead of days, Egypt will face a major

Also in this section
The spectre of a European gas price cap returns
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
Letter from London: The oil market should panic tomorrow
12 March 2026
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
LPG in Africa: Big potential but big barriers
Opinion
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
Letter from Dubai: A safe haven under fire
Opinion
11 March 2026
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

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