Letter from London: IE Week highlights east-west splits

Houthi actions in the Red Sea are compounding the market dislocations stemming from sanctions

International Energy Week (IE Week) in London in February took in a wide range of topics, while once again maintaining a strong focus on the energy transition. And after a number of related industry events were disrupted by climate change protesters in 2023, this year the IE Week organisers sought to head off such disturbances by including protest group members on panels and sessions. But other forms of division also became starkly apparent during the event, as various presentations and speakers demonstrated how a combination of Mideast conflict and ongoing sanctions have effectively split key energy sectors into separate—or at least partially disconnected—markets. The Houthi interdictions i