How much more are you spending on petrol since the war on Iran began? | US-Israel war on Iran News
EXPLAINER
At least 145 countries have reported increases in petrol prices since the attacks on Iran by the US and Israel began on February 28.
Since the United States and Israel launched their war on Iran six months ago, petrol prices have risen in at least 145 countries, adding to the burden on consumers worldwide.
The figures are based on data from GlobalPetrolPrices, which tracks fuel prices in 170 countries and territories. Petrol prices in Myanmar rose the most, increasing by 56 percent from $0.77 per litre of 95-octane fuel on February 23 to $1.20 on August 17. Bhutan recorded the next-largest increase at 55 percent, followed by Cuba at 51 percent, the UAE at 50 percent and 48 percent in Nigeria.
In 25 other countries, most of them oil producers with heavily subsidised fuel, prices have either remained unchanged or fallen by single digits.
The table below lists the 145 countries where petrol prices at the pump increased over the past six months.
How higher fuel costs shrink your driving range
Before the war, the US national average for a gallon [3.78 litres] of regular petrol was $2.94. It now costs $4.09, an increase of 39 percent, according to AAA Fuel Prices, which tracks retail fuel prices for the American Automobile Association (AAA).
The extra cost directly affects how far people can travel. Before the war, $50 worth of fuel in the US could take a family sedan roughly 718 km (446 miles). Today, the same amount takes you about 536 km (333 miles) – 183 km less, a 25 percent reduction in driving distance.
That gap varies depending on where you live.
Set your country, car and budget below to see how far your money takes you. If you’re filling up in the US, you can also select a state and fuel grade.
How high oil costs drive up the price of food
Oil prices and food prices move in lockstep, with energy prices affecting every stage of the food supply chain, from the fertilisers used in the fields to the trucks that carry food from field to supermarket shelf.
Rising oil prices also directly impact shipping and the cost of transport.
“The lifeblood of the global economy is transport,” economist David McWilliams told Al Jazeera. “It’s getting stuff from A to B – it’s a logistics problem, a supply chain problem and ultimately transportation is the energy of the global economy.”
In lower-income countries, where populations spend a far greater share of their earnings on food and import large quantities of grain and fertiliser, rising oil prices could rapidly translate into food shortages.

What products are made from oil and gas?
Oil and gas are used for far more than just fuel. They are raw materials for thousands of everyday products.
Plastics, including water bottles, food packaging, phone casings and medical syringes, are all derived from crude oil.
Crude oil is also the hidden ingredient in synthetic fabrics, such as polyester, nylon and acrylic, which are used to make everything from sportswear to carpets. It also underpins the cosmetics industry, as it is used to make products such as petroleum jelly (Vaseline), lipsticks and concealers.
Household items also rely on oil-based ingredients, with laundry detergents, dishwashing liquids and paints all derived from petroleum products.
The global food supply is essentially built on natural gas in the form of fertilisers, used to enhance crop yields and ensure that food production can meet demand.

Can Kenya’s AI ambitions coexist with Naivasha’s water needs? | Energy
Naivasha, Kenya – For communities living around Naivasha, water is not an abstract resource. It sustains families, livestock, farms and schools.
That reality has taken on new significance after plans for a major Microsoft-G42 data centre in Olkaria, near Lake Naivasha, stalled in May 2026 over concerns about available power capacity.
Microsoft and United Arab Emirates-based artificial intelligence company G42 announced the project in 2024 as part of a $1bn digital investment package for Kenya. The proposed facility was to run on geothermal energy and eventually scale to as much as 1 gigawatt of capacity.
The uncertainty has also prompted questions about what another major industrial user could mean for water in a region where residents already report shortages.
Microsoft and G42 said the proposed data centre campus would run entirely on renewable geothermal energy and incorporate water conservation technology. The companies did not disclose a project-specific water consumption figure in their 2024 announcement.
Kenya Electricity Generating Company (KenGen) communications director Frank David Ochieng told Al Jazeera that the data centre remains at the design stage and that he could not comment further until the project is ready to proceed.
For residents like Musa Olorkedienye, who spoke to Al Jazeera, water scarcity is already a daily concern. He says communities around Olkaria have seen changes in access to water, including the loss of reliable piped supplies that residents previously received from KenGen.
“Currently, we are relying on water vendors to get water, our animals are walking for kilometres, and we fear things could get worse as demand for water rises,” Olorkedienye says.
Pastoralist Isaac Leshishi, who also spoke to Al Jazeera, says increasingly harsh weather is adding to the pressure.
Why Olkaria?
The choice of Olkaria was closely tied to energy. The area is home to Kenya’s major geothermal operations, making it an attractive location for a power-intensive facility.

KenGen operates the Olkaria geothermal complex, while Microsoft and G42 planned to power the proposed data centre entirely with geothermal energy.
A lake under pressure
Naivasha is a freshwater lake in Kenya’s Rift Valley whose catchment supports agriculture, tourism, livestock and domestic water use. Its basin also hosts geothermal development and other economic activity.
Grace Kimani, a patrol leader with Lake Naivasha and Oloiden, told Al Jazeera that the reservoir is under growing pressure from population growth, agriculture, water abstraction, climate variability, pollution and ecosystem degradation.
“The planned Microsoft-G42 data centre in Olkaria could bring jobs and investment, but its water demand raises concerns about adding pressure to already competing needs, particularly during dry periods,” she said.
Kimani said there is limited public information about the project’s expected water demand, source and cooling technology. She said transparency and an assessment of its cumulative impact on water resources would be important.
She also called for water-efficient or water-free cooling, water recycling and the use of treated wastewater, as well as sustainable abstraction limits and community involvement in monitoring.
![Kamere landing beach has been flooded by rising water levels in Lake Naivasha, Kenya [Hafsa Abdiwahab Sheikh/Al Jazeera]](https://i0.wp.com/occasionaldigest.com/wp-content/uploads/2026/08/IMG-20260819-WA00141-1787404768.jpg?w=640&ssl=1)
Silas Wanjala of the Lake Naivasha Riparian Association, who spoke to Al Jazeera, said the region is heavily dependent on groundwater and that declining water flows are adding to the pressure.
“These industries, especially EcoCloud, which deal with data, will consume a lot of water at a time when rivers are drying, and demand for water is on the rise,” Wanjala said.
Olkaria EcoCloud Data Centre is a local partner in the G42-led development. In 2024, the Kenya News Agency reported that G42, Microsoft and EcoCloud signed a letter of intent for the wider data-centre initiative, with EcoCloud described as a local partner that had previously signed a memorandum of understanding with G42.
Wanjala points to past fluctuations in Lake Naivasha as a warning.
“This lake in 2010 nearly dried up due to over-abstraction, and this could be repeated due to high demand for water by these investors in Olkaria,” he says.
His concern comes against a wider backdrop of water scarcity in Kenya. The Food and Agriculture Organization (FAO) of the United Nations says Kenya has about 527 cubic metres (527,000 litres) of freshwater available per person, below the 1,000-cubic-metre threshold for water scarcity, and estimates availability could fall to about 475 cubic metres per person by 2030.
The figures do not show what effect the proposed data centre would have on Lake Naivasha. They provide context, however, for why the prospect of another major water user is drawing scrutiny in a region where demand is already high.
How much water would it use?
The amount of water the proposed Microsoft-G42 facility itself would require remains unclear.
The project announcement provides no projected consumption figure.
Existing industrial use offers some context.
A KenGen environmental and social impact assessment records that 195,165 cubic metres of water were abstracted from Lake Naivasha in July 2023 for domestic and commercial uses at Olkaria and for operations and domestic use at Eburru.
Of that total, 153,918 cubic metres were used for commercial operations at Olkaria. The assessment records the abstraction as within Water Resources Authority (WRA) permitted levels.
Those figures relate to existing KenGen operations, not the proposed data centre.
For farmer Eskimos Kobia, who spoke to Al Jazeera, the potential competition extends beyond households and livestock. He says farmers, pastoralists, schools and investors will all face greater pressure as demand increases.
Kimani said climate variability has also led to fluctuations in lake levels, with periods of flooding followed by prolonged dry conditions.
“Water quality is affected by agricultural run-off, untreated wastewater in some areas and invasive species,” she says.
Investment versus local concerns
Not everyone in Naivasha opposes the investment.
Absolom Mukhuusi of the Naivasha Professional Association, who spoke to Al Jazeera, says the technology sector could bring jobs, infrastructure and new businesses to the area. But he says economic benefits should not come at the expense of local communities.

“Even as we welcome the investors, our biggest fear is what happens to our water bodies and communities as water is diverted to Olkaria for the heavy users,” he says.
Could technology help?
Geologist Kenyatta Otieno, who spoke to Al Jazeera, sees another potential benefit.
He recalls the pressure large flower farms once placed on the lake’s ecosystem, saying many have since left or scaled back their operations.
Otieno says the proposed centre would have included a resource centre to monitor lake levels and weather patterns. Such monitoring, he says, could help identify the highest water level over time and guide riparian land zoning.
“The centre being built with water conservation in mind would be futuristic as Naivasha is generally a water-scarce area. It would be a model for future development,” Otieno said.
Kenya already has regulators responsible for managing competing demands. The WRA regulates water abstraction and issues water-use permits, while the National Environment Management Authority (NEMA) oversees environmental impact assessments under the country’s environmental regulatory framework.
Attempts by Al Jazeera to obtain comments from WRA and NEMA officials were unsuccessful. Efforts to reach Microsoft-G42 officials and Kenyan government officials for comment on the project’s status and water requirements were also unsuccessful.
For now, the project’s eventual scale, design and water requirements remain unclear, according to KenGen.
“We are now competing with the multibillion [-dollar] companies for water, and we fear that we shall be the losers in the long run,” Leshishi said.
Iraq’s solar villages show how to build an energy transition that lasts | Renewable Energy
For years, the day in Kulak ended when the generator powered down. Like thousands of villages across Iraq, this small farming community in the semi-autonomous Kurdistan region lived to the faltering rhythm of an erratic power supply: a few hours of electricity, then the water pumps stopped, refrigerators warmed and children put down their books.
Today, Kulak runs on the sun. Solar panels harness its energy, batteries store the excess and residents have power 24/7. The change is visible beyond the homes: water pumps keep running, and cold storage gives farmers more control over when they sell their harvest.
This is the part of the energy transition the global climate conversation too often overlooks. Solar hardware is cheap; the world has learned how to install it. What matters is what comes after the panels go up: building the local capacity to keep the systems running and using reliable power to support farms, livelihoods and communities.
The energy transition will not be won in conference halls. It will be won, or lost, in places like Kulak.
Iraq’s rural energy crisis
Iraq’s energy story is usually told as a paradox. It is one of the world’s great oil producers, yet rural communities still endure daily power cuts. Summers now regularly push past 50 degrees, and the United Nations ranks Iraq among the nations most vulnerable to climate change. Drought has emptied farmland. Heat has made whole regions harder to live in. Rural families face a quiet, grinding choice between staying on land that can no longer sustain them or joining the drift towards overcrowded cities.
These pressures do not respect provincial boundaries. They are shared across Iraq, from the marshes of the south to the mountains of the north. They demand responses that work for the whole country.
For remote communities, decentralised power should not simply be treated as a stopgap while they wait for the grid. It can be part of the long-term answer.
Beyond electrification
Kulak is one of five villages in the Kurdistan region electrified through a solar initiative that pairs new infrastructure with local training and agricultural development. Residents are trained to operate and maintain their own systems, while research is under way into how reliable power can support local production.
Energy is treated not as a gift to be received but as an asset to be managed. That means looking beyond electricity itself to what it can enable: cold storage that allows farmers to hold their harvest for better prices, irrigation that no longer depends on diesel and processing that adds value before crops ever leave the village.
That distinction matters, because the graveyard of development is full of well-intentioned infrastructure. Anyone who has worked in this field has seen the solar array gathering dust because no one was trained to fix an inverter, or the water project abandoned when the foreign NGO moved on.
Sustainability is not a slogan; it is a design choice. Building local capability into a project from day one is the difference between a photo opportunity and a future.
Building the transition from the ground up
There is a broader argument here for the climate movement.
The energy transition is overwhelmingly narrated from the top down: through COP plenaries, G7 communiques and the financing pledges of wealthy nations, many of them unmet. Yet for hundreds of millions of people in the Global South, the transition will arrive, if it arrives at all, through decentralised solutions built close to the ground.
Rural Iraq will not wait decades for grid expansion to reach every valley. It does not have to. Distributed solar suits these communities better than centralised generation ever did, while local institutions can move at a speed that multilateral programmes rarely match.
There is also a quieter point about who gets to act on climate.
The prevailing image of climate action in the Middle East is the megaproject: vast desert solar farms, futuristic cities and sovereign wealth funds. Those have their place. But electrifying farming villages one by one represents a different kind of ambition, one rooted in the belief that Iraqis themselves, in all their diversity, can build the country’s energy future rather than wait for it to be delivered.
Local involvement matters particularly in places where reliable electricity is tied not only to household comfort but to whether farms can irrigate crops, preserve produce and remain economically viable.
Iraq has thousands of rural communities, and scaling this model will require partners, patient financing and supportive policy at every level of government. The agricultural research is promising but young.
On my last visit to Kulak, I was struck less by the panels than by what surrounded them: the cold store, the working pumps, the sense of a community planning for next season rather than next month.
The lights staying on is the least of it. What has really been switched on is the future tense.
If Iraq’s energy transformation is built like this across the whole country, village by village and from the ground up, it will be more durable than anything imposed from above. That means investing not only in the systems themselves, but in the people who will maintain them and the farms, businesses and livelihoods that reliable power can support.
The world’s climate diplomats could do worse than pay attention.
The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial stance.
Could the Iran War Spark a Prolonged Global Fuel Crisis?
The Iran war has pushed the global energy system into a deeper crisis, with the disruption increasingly shifting from crude oil supplies to the refined fuels that power transportation, industry and economies worldwide.
While global oil markets have adapted relatively well to the loss of a significant share of Middle Eastern crude production, the refining industry has had far fewer options to compensate.
That imbalance is already visible in fuel prices.
Brent crude is around $90 a barrel, roughly 25% above its level when the conflict began on February 28 but well below its wartime peak of $118.
Stay ahead of the geopolitical week.
MD Briefing delivers expert analysis across five global fronts — the Indo-Pacific, energy, geoeconomics, European security, and the Middle East — every Monday morning. Free.
Refined fuel prices, however, have remained much higher. European diesel prices have risen more than 70% since the start of the war, while U.S. gasoline prices have increased around 60%.
The growing divergence suggests that the biggest energy shock may no longer be coming from crude oil itself, but from the world’s ability to turn crude into usable fuel.
Why Are Fuel Prices Rising Faster Than Oil?
The key problem is declining refinery capacity.
The International Energy Agency estimates that more than 20% of the Middle East’s 9.6 million barrels per day of refining capacity was knocked out during the conflict.
At the same time, the closure of the Strait of Hormuz has restricted fuel exports and disrupted the movement of Gulf crude.
The result has been a chain reaction.
Refineries, particularly in Asia, have had to reduce operations because of difficulties obtaining crude, while damaged Middle Eastern facilities have struggled to return to normal production.
This has created a shortage of diesel, gasoline and other refined products even as crude oil prices have retreated from their wartime highs.
How Has Russia Made the Fuel Crisis Worse?
The Middle East is not the only source of disruption.
Months of Ukrainian attacks on Russian energy infrastructure have also reduced global refining capacity.
Russian refinery throughput has fallen by nearly 30% in recent months to below 4 million barrels per day.
The decline has forced Moscow to restrict diesel exports, removing another major source of refined fuel from international markets.
The combination of Middle Eastern refinery damage and reduced Russian output has left the global market with fewer alternatives.
That is particularly important for diesel, which is essential for freight transportation, agriculture, construction and industrial activity.
Why Are Diesel Refining Margins Surging?
The shortage is reflected in refining margins.
European diesel refining margins have more than tripled since February, rising above $75 a barrel.
U.S. diesel margins have increased more than 140%, reaching a record $100 earlier this week.
These figures demonstrate how severe the shortage has become.
Refineries capable of producing diesel and other fuels are commanding exceptionally high margins because demand remains strong while available capacity is shrinking.
The problem is that simply increasing refining margins does not immediately create new refining capacity.
Building or repairing refineries can take months or years, particularly when specialised equipment is required.
Have Global Fuel Inventories Been Depleted?
Yes, and that could become one of the biggest problems in the months ahead.
Fuel stockpiles provided an important buffer when the conflict began.
That buffer is now largely gone.
According to the U.S. Energy Information Administration, global oil inventories fell at a rate of around 3.5 million barrels per day between March and July.
Stocks are expected to continue declining through the end of the year.
U.S. diesel inventories are already at their lowest seasonal level in three decades, while gasoline stocks are at their weakest seasonal level since 2012.
This leaves the market increasingly exposed to any additional disruption.
Is There a Global Fuel Production Shortfall?
The data suggests there is.
Global refinery runs during the second quarter were 5.1 million barrels per day lower than a year earlier, according to the IEA.
High fuel prices have reduced consumption, with demand for refined products falling by around 4 million barrels per day.
But that reduction has not been sufficient.
The result was still a shortfall of more than 1 million barrels per day.
The imbalance could become even worse during the third quarter.
Refinery runs are expected to remain 4.1 million barrels per day below last year’s level, while demand is projected to fall by only 2.4 million barrels per day.
In other words, fuel supply is declining faster than demand.
Would Reopening the Strait of Hormuz Solve the Crisis?
Not necessarily.
A diplomatic breakthrough between Washington and Tehran that permanently reopened the Strait of Hormuz could send crude prices sharply lower.
But cheaper crude would not automatically translate into cheaper gasoline and diesel.
The reason is that the refining infrastructure itself has been damaged.
More than 20 Gulf refineries suffered damage during the war, and many require extensive repairs.
Crucial equipment such as compressors, heat exchangers and specialised catalysts can take significant time to obtain.
Lead times for some of these components were already stretched before the conflict.
Consequently, even if crude shipments resume quickly, refinery capacity could remain constrained for much longer.
Why Is China Important to the Energy Crisis?
China’s response could have a major impact on global fuel markets.
China is the world’s second-largest refining centre and sharply reduced refinery processing rates and fuel exports during the conflict.
If Beijing keeps exports limited, the international market will lose another potential source of refined products.
Conversely, an increase in Chinese refinery utilisation and exports could provide some relief.
But China must also balance domestic fuel demand, inventory requirements and its own energy security.
That makes its decisions particularly important for Asia and the wider global market.
Could the Energy Crisis Fuel Global Inflation?
The answer could be yes.
The immediate impact of higher fuel prices is already appearing in inflation data.
U.S. consumer prices rose 3.4% year-on-year in July, with energy costs increasing 14.7% and gasoline prices rising 24.6%.
Euro zone inflation accelerated to 2.9%, driven partly by a 10% increase in energy costs.
Japan’s producer price index rose 7.2% in July.
These figures raise concerns that the energy shock could spread beyond fuel markets.
Higher transportation costs increase the cost of moving goods, while expensive diesel raises costs for agriculture, manufacturing and logistics.
If those increases persist, businesses may eventually pass them on to consumers.
Why Could the Energy Crisis Last for Years?
The central problem is that refining capacity cannot be restored as quickly as crude production.
Oil wells can continue producing once transportation routes reopen.
Refineries, however, require complex infrastructure, specialised machinery, skilled workers and maintenance.
If damaged facilities need major reconstruction, restoring capacity could take years.
At the same time, depleted fuel inventories will eventually need to be rebuilt.
That means refiners could face sustained pressure to process more crude even after the immediate crisis ends.
The result could be a prolonged period of elevated refining margins and fuel prices.
What Does This Mean for Europe and Asia?
Europe and Asia could face particularly severe pressure.
Both regions rely heavily on imported energy and have already experienced increases in refined fuel and liquefied natural gas prices.
For European economies, expensive diesel could increase transportation and industrial costs.
For Asian economies, disruptions to Gulf crude supplies and reduced Chinese fuel exports could create additional pressure.
The combination of higher fuel and LNG prices could therefore create a broader energy inflation shock rather than an isolated oil-market disruption.
Could Consumers Eventually Reduce Demand?
Demand destruction remains one of the few mechanisms capable of restoring balance.
If fuel prices remain extremely high, consumers may drive less and businesses may reduce transportation and energy consumption.
Companies may also delay investment and cut production.
That could eventually reduce demand enough to ease pressure on the refining system.
But demand destruction carries an economic cost.
A reduction in fuel consumption caused by efficiency improvements is very different from a decline caused by households and businesses being unable to afford energy.
The latter can slow economic growth while inflation remains elevated.
Analysis: Why the Refining Crisis May Matter More Than the Oil Shock
The most important lesson from the Iran war energy crisis is that the global energy system is not simply dependent on how much oil exists, but on whether the world can refine and transport that oil into usable fuel.
The crude market has shown considerable resilience.
Refined fuel markets have not.
That distinction could determine how long the current energy shock lasts.
Even if diplomacy reopens the Strait of Hormuz and crude prices fall, damaged refineries, depleted inventories and reduced Russian exports will continue to constrain fuel supplies.
This creates a particularly difficult situation for central banks.
If energy prices rise temporarily, policymakers can theoretically look through the shock. But if fuel shortages persist for months or years, higher transportation and production costs can become embedded across the economy.
That would make the assumption of a short-lived inflation shock increasingly difficult to defend.
The depletion of global inventories is perhaps the biggest warning sign.
Stockpiles normally provide a cushion against geopolitical disruptions. That cushion has now been significantly weakened.
As a result, another major refinery outage, shipping disruption or escalation in the Middle East could produce a much larger price response than it would have before the war.
The world therefore faces a dangerous mismatch: crude supplies may recover faster than the infrastructure needed to turn them into fuel.
That is why the energy crisis could outlast the war itself.
The Iran conflict may have started as a crude oil shock, but its most consequential economic legacy could be a prolonged global shortage of refined fuels, keeping inflation and energy costs elevated long after the fighting ends.
With information from Reuters.
South Africa to Australia: Why coal profits are surging during Iran war | Energy News
Crude oil and natural gas supplies have been disrupted worldwide by the United States-Israel war on Iran, but one energy sector appears to be cashing in – coal.
This week, South Africa’s thermal coal producer Thungela Resources said it had doubled its half-year profits as the war has forced more countries to buy the fuel.
Recommended Stories
list of 4 itemsend of list
Although abundant and relatively cheap to produce, coal is considered one of the dirtiest fossil fuels.
Mining it causes water pollution, and burning it releases enormous amounts of carbon into the atmosphere, which contributes to global warming.
In recent months, several countries, especially in Asia, have reversed or delayed promises to scale back on coal production.
Global coal consumption was already rising in 2025 with the Eurasia region and the US using the fuel to power artificial intelligence data centres, according to the World Bank.
Here’s what we know:

Why is more coal being used?
The US-Israel war on Iran has triggered a global energy crisis. Soon after strikes on Tehran began on February 28, Iran closed the Strait of Hormuz, through which about one-fifth of the world’s oil and liquefied natural gas (LNG) supplies were shipped during peacetime.
Negotiations to reopen the strait are ongoing.
Its closure has reduced oil and gas supplies and caused oil prices to soar, prompting many countries to fall back on the most readily available alternative to keep the power on – coal.
While coal prices have also risen, the fuel is still much cheaper than oil – and is more readily available.
No region has been more impacted than Asia, which largely depends on the Gulf for its energy needs. About 82 percent of oil and gas shipments through the Strait of Hormuz went to Asia in 2022, according to the US Energy Information Administration. China, India, Japan and South Korea were the top destinations.
Besides being unable to ship exports through the strait, Gulf countries caught up in the conflict have also been badly impacted by Iranian strikes. Qatar, for example, was forced to declare force majeure on its delivery contracts in March when Iranian drones hit its Ras Laffan oil facility – the world’s largest LNG complex – forcing it offline. Iran’s attacks had knocked out 17 percent of Qatar’s LNG exports by March, state officials said.
Similarly, the United Arab Emirates’s Das Island LNG terminal, Fujairah oil terminal, Ruwais Refinery Complex and other energy sites have been attacked during the conflict. Facilities in Saudi Arabia and Oman have also been hit.
Where has coal use increased?
According to an analysis by the energy data company Ember, coal output will rise globally by 1.8 percent by the end of 2026 compared with 2025 in a “worst-case” scenario.
This represents a notable uptick considering that countries are meant to be transitioning away from coal, experts said.
Since the war began, several Asian countries have announced plans to increase coal-fired electricity generation.
Japan has lifted restrictions on older, high-emission coal plants to cope with the energy shocks while South Korea has delayed the shutdown of coal-powered plants it promised to wind down by 2040.
In Bangladesh, the government at first imposed power cuts, closed universities and rationed fuel sales for vehicles before announcing it had ramped up coal-powered electricity generation.
Thailand, the Philippines and Vietnam have also increased coal-powered electricity generation to preserve dwindling gas reserves.
In Pakistan, data from the National Electric Power Regulatory Authority showed that by July, electricity generated from imported coal had risen by 90 percent compared with the same period the previous year.
China and India already consume 70 percent of the world’s coal and are also major producers. In India, where electricity demand is increasing partly due to more intense heatwaves, the government plans to launch several new coal-mining projects that will see global supplies increase by 2.5 billion tonnes a year, according to the Global Energy Monitor.
Germany also said it won’t jeopardise electricity generation because of earlier climate promises it made while Italy has pushed back its coal phase-out plans from late 2025 to 2038.
Who is making a profit from coal?
Indonesia is the top coal exporter by a wide margin, followed by Australia and Russia.
In March, Jakarta reversed previous plans to curb coal production and reduce oversupply in a bid to benefit from the rising prices. Prices were set at $131.85 per tonne in July, compared with $102.20 in the previous year.
South Africa’s Thungela, meanwhile, reported doubled profits from January to June, compared with the same period of 2025, driven largely by higher production from its Ensham mines in Queensland as well as higher demand and higher prices at both Ensham and its South Africa operations.
Production at Ensham rose by 38 percent in the first half of the year – during the peak of the conflict – to 2.2 tonnes, compared with 1.6 tonnes in the previous period.
The company reported 4.80 South African rand ($0.30) in headline earnings per share – or HEPS, a primary metric of profitability used in South Africa. That’s up from 1.92 rand ($0.12) in June last year.
In a statement, Thungela said prices will likely remain high as European and Asian markets prepare for winter.
What does this mean for the drive for clean energy?
In 2021, more than 40 countries, including Indonesia and Vietnam, promised to scale back coal use at the COP26 global climate summit. India and China did not sign up, however. Last year, South Korea joined the Powering Past Coal Alliance, which helps coal-dependent economies transition away from the fuel.
However, the Middle East crisis has upset those plans largely because many countries do not have sufficient renewable energy-generating capacity to fall back on, said Nick Hedley, an energy transition analyst at South Africa-based Zero Carbon Analytics.
“For the likes of Bangladesh, it’s easy to lift coal use when global gas supplies are disrupted because the country invested heavily in coal infrastructure in recent decades, and much of that capacity has been sitting idle,” he said.
“Coal becomes cheaper than imported gas when gas prices surge. Importantly, coal still cannot compete with renewables on cost,” Hedley added.
It’s not all doom, however. Analysts noted that upticks in some places are being offset by long-term declines in coal use in places like Europe.
China’s domestic coal production also fell this year as the government tightened oversight following a deadly explosion in May at the Liushenyu coal mine, where 82 people died. Beijing has also made large investments in renewables.
In addition, the breakdown of global fossil energy supply chains could make clean alternatives more competitive and force more countries to invest in them, Hedley pointed out.
“The lesson here is that Asian countries need to speed up their shift to clean energy and electrification to safeguard themselves against future global crises,” he concluded.
Putin’s Kuril Islands Visit Exposes Japan’s Russian Energy Dilemma
Japan’s protest over Putin’s visit to the Kuril Islands is loud because its response is capped: Tokyo cannot meaningfully sanction the one Russian energy relationship — Sakhalin-2 LNG — it now depends on more than ever, after the Strait of Hormuz closure gutted its Gulf oil access and made that supply a load-bearing pillar of its energy security through at least December 2026.
On August 13th, Vladimir Putin toured a fish-processing plant on Iturup Island, the largest of the four southern Kuril Islands Japan calls its Northern Territories, with Sakhalin’s regional governor at his side. It was his first visit there in twenty-six years in power. He called the islands’ status “enshrined” as a permanent outcome of the Second World War and pointedly invoked the late Shinzo Abe, who spent years personally courting him toward a peace treaty that never materialised. Tokyo’s response was immediate: Prime Minister Sanae Takaichi called the visit “absolutely unacceptable,” and her Foreign Ministry says an “additional sanctions package” is under consideration. What went unmentioned is that this same government told Washington, in writing, ten months earlier that a full ban on Russian LNG would be “difficult.” That contradiction, not the visit itself, is the story.
The dispute is old: the Soviet Union seized the four islands in the war’s final days, and the missing peace treaty has been Tokyo and Moscow’s unfinished business for eighty years. What is new is the energy math surrounding it. Sakhalin-2, the LNG project sitting directly across the strait from where Putin stood, supplied Japan roughly 3.6–3.9 million tonnes last year — about 9% of its total LNG imports, and enough to make Japan the project’s largest single buyer. The US Treasury sanctions waiver permitting those imports, along with the Gazprombank clearing that finances them, was just extended to December 18th, 2026, pushed back from an original June deadline. Washington’s stated reason was blunt: global supply is “constrained amid the continued closure of the Strait of Hormuz.”
BEHIND THE VISIT
Stay ahead of the geopolitical week.
MD Briefing delivers expert analysis across five global fronts — the Indo-Pacific, energy, geoeconomics, European security, and the Middle East — every Monday morning. Free.
That closure is the piece most coverage of the Kuril visit leaves out. Since February 28th, when the US and Israel launched their air campaign against Iran, the Strait of Hormuz has been effectively shut, with roughly 20,000 mariners and 2,000 ships stranded and Brent crude spiking to $126 a barrel at its peak. Around 90% of Japan’s crude oil and 11% of its LNG normally transit Hormuz. Tokyo has spent 2026 losing its largest energy artery to a war in the Gulf, which means Sakhalin-2 has quietly gone from “one Russian supplier among several” to one of the few pillars still standing under Japan’s winter power grid. Putin picked this year, not an arbitrary one, to make his sovereignty claim visible on the ground.
The waiver renewal is the tell. Washington and Tokyo did not merely tolerate the Sakhalin-2 exemption through the Ukraine-sanctions years — they actively rebuilt it in 2026, in the middle of the Hormuz crisis, explicitly carving out maritime transport, financial clearing, and joint-operations funding through the end of the year. Putin then chose that same window, with that same regional government’s leadership standing next to him, to plant a public flag on the neighbouring islands. He is not testing whether Japan objects. He knows it will. He is testing whether the general logic of sanctioning Russia survives contact with the specific, recently-renewed exemption that keeps Japanese lights on. Compare that to 2010, when Dmitry Medvedev made the first-ever Russian presidential visit to the same islands: Tokyo protested loudly, recalled its ambassador briefly, and moved on within weeks, because no comparable energy dependency was on the table at the time. The script is recognisable. The stakes underneath it are not.
Takaichi’s own words undercut her “absolutely unacceptable” framing before she said it. In October 2025, briefing President Trump on the LNG relationship, she told him directly that a total ban on Russian gas “would be difficult” — an unusually candid admission from a leader now weighing a fresh sanctions package over the same relationship’s home islands. A prime minister who has already told Washington, on the record, that cutting the energy tie is impractical cannot now credibly threaten it without the threat being understood, in Moscow as much as in Tokyo, as theatre. What remains available is a narrow band of symbolic measures — travel restrictions, asset freezes on individuals connected to the visit or the regional administration — that let Tokyo be seen to act without touching a single LNG cargo.
The standard objection is that Japan has options: JERA, its largest buyer, points to a 30–35 million tonne portfolio and spot-market access, and Tokyo Electric-linked utilities cite early-stage interest in the $44 billion Alaska LNG project as a long-term alternative. That is capability, not near-term relief. Japanese firms remain openly cautious about Alaska LNG’s cost and logistics, with no binding offtake timeline in sight, and the global spot market Japan would lean on is the same market already absorbing cargoes redirected from Hormuz-blocked routes — tighter, not looser, than in a normal year. Sanctioning the actual molecules, rather than a list of names, risks the electricity-price and blackout warnings Japanese officials themselves used to justify keeping the Sakhalin-2 waiver alive in the first place.
THE SCENARIOS
Base case (~55%): Japan announces a narrow, largely symbolic sanctions package — individual travel bans and targeted asset freezes tied to the Far East regional government — while explicitly leaving Sakhalin-2 supply and Gazprombank clearing untouched, repeating the 2010 script almost exactly. The December 18th waiver renewal proceeds quietly, folded into the broader Hormuz-driven energy calculus, and Moscow reads the episode as confirmation that its Pacific energy leverage over Japan is durable regardless of who occupies the Kremlin’s chair on any given August.
Downside case: domestic backlash — the same “hardened public sentiment” Takaichi herself warned the visit would produce — pushes her government into a genuine review of the Sakhalin-2 exemption as its December deadline approaches, right as Hormuz remains tight heading into winter and Asian spot LNG prices stay elevated from redirected Gulf cargoes. The result is Japan’s first real taste of sanctions-driven energy pain from the Ukraine-era regime, a burden that has so far landed almost entirely on European households rather than Japanese ones, arriving in the worst possible month of the heating season and forcing utilities into the kind of emergency rationing talk Tokyo has avoided since 2022.
Upside case: Tokyo treats the compounding shock — Hormuz plus the Kuril visit landing in the same year — as the forcing function it has lacked for three years, converting Minister Yoji Muto’s long-stated goal of “steadily reducing dependence” on Russian LNG into actual contracted volume rather than a talking point: accelerated Alaska LNG offtake commitments, expanded US Gulf Coast term deals, and a public timeline for winding down Sakhalin-2 purchases that uses the December waiver deadline as a hard exit ramp instead of an automatic renewal. Even here, the earliest realistic substitution volumes arrive on a multi-year timeline, not by next winter.
THE AFTERMATH
Putin’s flag on Iturup was never really a test of Japan’s territorial resolve — Tokyo’s position on the Northern Territories has not moved in eighty years and was never going to move now. It was a test of whether that resolve has any economic weight behind it at the one moment Japan’s alternatives are thinnest.
Watch for: what actually happens to the Sakhalin-2 waiver around December 18th, not the sanctions package announced this week. A quiet renewal, carved out exactly as before, will tell you Japan’s outrage and Japan’s energy security are now permanently on separate tracks — and that Moscow understands the gap between them better than Tokyo would like to admit.
Hungary sinks barges into Danube River to stave off energy crisis

Workers in Hungary are sinking two 260-foot barges into the Danube River to raise waters levels. Photo courtesy of Prime Minister Peter Magyar’s Office/X
Aug. 15 (UPI) — Hungarian working crews are sinking two barges into the Danube River in an attempt to raise water levels and stave off an energy crisis, the prime minister said on Saturday.
Water levels of the 1,800-mile river have fallen to record lows amid a months-long drought across Europe.
To raise the waters, crews are sinking two 260-foot barges into the Danube River.
Hungary’s only nuclear power plant, Paks, depends on water from the river to cool down its reactors.
Prime Minister Peter Magyar said current water levels on Saturday were 48 inches lower than usual, and could fall a further 4 inches by Monday.
If it falls that low, he added, the power plant would have to shut down one of its last two functioning turbines.
“Water management experts are continuously monitoring the water level, water velocity, and riverbed condition using a measuring vessel and installed measuring devices,” Magyar said in a statement on X.
The plant is responsible for generating half the electricity needed by the country’s 10 million people.
BP returns to Venezuela with Gulf partners as post-Maduro energy opening speeds up
Published on
BP is going back into Venezuela.
ADVERTISEMENT
ADVERTISEMENT
The agreement signed in Caracas on Thursday gives the company operatorship of Loran phase two, an offshore gas project holding more than four trillion cubic feet of proven gas resources, with Abu Dhabi’s XRG, Qatar’s UCC Oil and Gas Holding taking equal stakes beside it.
It is the clearest signal yet that the opening of Venezuela’s energy industry to foreign capital, underway since Maduro’s removal, is gathering pace.
All three companies will hold equal working interests, with BP as operator, and the licence remains subject to regulatory approvals.
PDVSA Gas, the state producer’s gas arm, transferred part of its interest to XRG, the international investment vehicle of Abu Dhabi’s ADNOC. For both XRG and UCC, a unit of the Qatari conglomerate of the same name, this marks a first entry into Venezuela.
The field itself is shared as Loran forms the Venezuelan portion of the Loran-Manatee accumulation, which straddles the maritime boundary with Trinidad and Tobago and holds roughly 10 trillion cubic feet of recoverable gas in total.
Shell won the licence for the first phase in June and is separately developing Manatee on the Trinidadian side, where first gas is expected next year.
BP says both Venezuelan phases will now be developed in parallel and signed a further memorandum of understanding covering exploration at the Carúpano East Block.
The agreements were concluded during a visit to Caracas by CEO Meg O’Neill and David Campbell, BP’s senior vice president for Latin America and the Caribbean.
A sector reopened under US pressure
The licences are the product of a bargain struck with Washington.
After Maduro was seized by US forces in January, interim president Delcy Rodríguez rewrote the country’s energy law at the Trump administration’s urging, opening the world’s largest proven oil reserves to foreign firms.
In return, the US relaxed sanctions that had frozen most Western investment, including the licences it revoked from BP, Shell and Chevron in 2025.
Eni, Repsol and Shell have all signed since.
The awards process stalled after the earthquakes of 24 June, which killed more than 6,300 people, and resumed only on Thursday, when the three Loran permits were issued and the agreements signed.
“I have a special interest in gas to promote national development,” Rodríguez said at the ceremony, which was broadcast on state television.
BP is not a newcomer as it held a licence for the Cocuina field from 2024, before Washington withdrew its permission to use it.
Salvage work begins on tanker leaking oil off Oman, risk firm says | Oil and Gas News
A salvage operation is under way to stabilise the stricken tanker behind a major oil spill off Oman, the risk management company coordinating the effort has said.
The announcement by Ambrey on Thursday came a day after Oman’s environmental authority confirmed that oil from the Caroline Bezengi had reached beaches along the sultanate’s central coast.
Recommended Stories
list of 4 itemsend of list
The tanker, a suspected member of Russia’s shadow fleet used to transport sanctioned Russian oil, has been leaking crude into waters near the Hallaniyat archipelago since June, when the ship’s crew reported an unidentified explosion.
Ambrey said it was working with Omani authorities and that its services had been engaged as part of a “significant international response” that included salvage vessels, aircraft and specialist personnel.
Apart from Oman and an unnamed “leading international oil spill response company”, Ambrey did not elaborate on which other countries or firms were involved in the effort to salvage the vessel, which has flown the flags of states including Cameroon, Palau and Liberia.
The International Maritime Organization (IMO) – the United Nations maritime agency – said on Thursday that it was “closely monitoring” the situation and would “continue to support ongoing efforts”, without providing further details.
The International Oil Pollution Compensation Funds, a pair of intergovernmental organisations established to provide compensation for oil pollution, said it would not be involved in the cleanup operation after determining that the incident likely resulted from an act of war.
Ambrey, based in Hereford in the United Kingdom, said it expected salvage vessels to reach the Caroline Bezengi soon and that specialist personnel had already boarded the vessel to begin stabilising its cargo.
Ed Wollaston, director of global response at Ambrey, said the “extremely challenging situation” had been complicated by adverse weather from the annual Khareef monsoon.
“However, we have deployed the leading experts in each aspect of the response and have mobilised the appropriate supporting equipment, aircraft and vessels,” Wollaston said in a statement.
“We are working around the clock to mitigate the environmental impact of the situation.”

The oil spill has expanded dramatically in size over the past week, according to analyses of satellite imagery, raising fears for coastlines and ecosystems in the region, including a marine reserve established last year off the Hallaniyat archipelago.
Environmental NGO Greenpeace said on Thursday that, based on satellite imagery, the spill had grown from 45 square kilometres (17sq miles) in late July to about 1,300sq kilometres (502sq miles) as of Wednesday.
Omani authorities as recently as Monday estimated the size of the spill at approximately 400sq kilometres (154sq miles).
Hanen Keskes, Greenpeace’s head of campaigns for the MENA region, said the circumstances of the spill made it “especially challenging” to respond to.
“Given the scale of this – a damaged tanker in a remote location, during monsoon season, with no clear owner or verified insurer to compel a rapid response – this is a case where international assistance should be mobilised urgently,” Keskes told Al Jazeera.
“Capabilities like specialised salvage equipment and expertise can exceed what any one country has on hand, and every day of delay allows more oil to disperse.”
Najmedin Meshkati, an expert in oil spills and a professor of civil and environmental engineering at the University of Southern California, said that authorities should have moved faster to contain the spill.
“That two-month interval was the response window, and it closed. In spill response, source control on day three is worth many multiples of source control on day 60,” Meshkati told Al Jazeera.
Meshkati acknowledged, however, that Omani authorities had been dealt a difficult situation.
“It was handed an orphaned wreck with no responsive owner, no verifiable insurer, no functioning flag state, and a compensation regime containing a war exclusion that may void it entirely,” Meshkati said.
“No mid-sized maritime administration on earth is resourced for that. But that is precisely the argument for escalating harder and earlier.”
Damilola S Olawuyi, a professor of energy and environmental law at Hamad Bin Khalifa University in Qatar, said the spill highlighted the need for stronger international mechanisms to hold polluters accountable.
“The obligation of the entity responsible for pollution to pay for the cost of cleanup and remediation, ie, the polluter pays principle, has for long been a bedrock of international law,” Olawuyi told Al Jazeera.
“However, in an era of increasing geopolitical realignments, identifying the responsible polluter has become complex, therefore complicating effective risk reduction, response and remediation measures,” he said.
IEA warns of sharp drop in global oil stocks due to Hormuz Strait closure
The International Energy Agency warned Wednesday of sharp drop in oil stocks amid renewed disruption to exports from Gulf producers with the Iran war seeing “lower volumes” transiting the seas to markets around the world. File photo by Olivier Matthys/EPA
Aug. 12 (UPI) — The International Energy Agency warned Wednesday of a sharp drop in global stocks oil amid renewed disruption to exports via the Hormuz Strait and Caspian Sea resulting in “lower volumes of oil” transiting the seas to markets around the world.
In its August Oil Market Report, the agency said measurable global oil inventories — strategic reserves, on tankers at sea — plunged by 69 million barrels in July to just under 7.9 million barrels, down from 410 million barrels per day at the start of the war at the end of February.
Onshore stocks declined by just 6 million barrels per day as the pace of IEA releases of its emergency stocks eased, even as China continued to draw down on its crude oil reserves.
“Although the market is projected to return to surplus towards the end of this year, risks remain substantial and the urgency of reopening the Strait has increased, as previously available inventory buffers are rapidly depleting,” the IEA said.
The IEA data comes two days after the U.S. Department of Energy said the country’s Strategic Petroleum Reserve had fallen to less than 300 million barrels in the previous week, its lowest level in 43 years — but still well above the 70 million barrel minimum for it to run as intended.
President Donald Trump ordered 172 million barrels to be released in March after exports from Gulf producers including Saudi Arabia Kuwait, Bahrain, and the UAE were severely curtailed by Iran closing the Strait of Hormuz.
Use of other routes to move oil and the drawing down of inventories, including China’s massive 1.4 billion barrel reserve which has seen a sharp drop in its oil imports, have so far helped ward off the damaging global oil shortage it was feared the closure of the Hormuz Strait would trigger.
The IEA also warned that the destruction of global demand for oil was escalating, driven by the continuing closure of the Strait of Hormuz and high fuel prices suppressing consumption, forecasting a 1.6 million barrels per day drop in demand in 2026, up from its previous estimate of 1 million barrels per day.
However, it said said the pace of market contraction would slow, down from a 4.9 million barrels per day decline in the second quarter to 2.8 million barrels per day drop in the third quarter, and return to growth in the final quarter, with expansion of global demand of 2.4 million barrels per day expected in 2027.
On the supply side, the IEA said overall production for 2026 would fall more sharply than demand, but would bounce back to outpace demand in 2027.
Production rose by 2.4 million barrels per day to 101.5 barrels per day in July, but remained well short of the 6.3 million barrels per day supply growth pace seen in July 2025, with 8.3 million barrels per day of Persian Gulf output “still shut in.”
“Renewed hostilities and maritime disruptions in July and early August undermined the recovery efforts, reducing projected third quarter 2026 oil supply by 1.7 million barrels per day compared with last month’s report.
“Global oil supply is now projected to decline by 4.3 million barrels per day on average in 2026 and rebound by 8.3 million barrels per day next year to 110.3 million barrels per day,” the IEA said.
Fastest man on land pushes hydrogen car to record 406 mph in Utah desert

Aug. 12 (UPI) — A retired Royal Air Force fighter pilot who is the only person to have traveled faster than the speed of sound on land, set a world land speed record for a hydrogen-powered car of more than 400 mph in Utah.
Powered by two 800 horsepower hydrogen internal combustion engines, Briton Andy Green‘s bullet-shaped Hydromax Streamliner, averaged across two runs, reached a speed of 406.32 mph on Tuesday at the Bonneville Salt Flats, smashing the previous record set in 2004 by more than 220 mph.
World motorsport’s governing body, the Fédération Internationale de l’Automobile, the governing body of world motorsport, verified the attempt as the highest speed ever achieved by a hydrogen-powered vehicle.
The engines were from an earth-moving machine made by the British heavy plant manufacturer JCB, delivering massive power to the drivetrain by mixing pressurized hydrogen gas with air which is then ignited, similar to combustion engines, but with no emissions.
Green also set a world land speed record of 350 mph for diesel power in another JCB-developed car in 2006.
“Setting a world land speed record with hydrogen power, 20 years after Dieselmax, is a huge privilege. This record is a huge achievement by a world class team and superb technology,” Green said.
JCB chairman Lord Anthony Bamford said going after the record was in part a proof of concept exercise to show that hydrogen was a viable solution to the demand from heavy industries for a clean energy that could rival traditional fuels in efficiency.
He also believes hyrdogen is more effective for construction and agricultural machinery and plant than electric battery power.
In October 1997, Green pushed his twin jet-engine powered Thrust SSC to 763.035 mph, smashing through the sound barrier as it streaked across the Black Rock Desert in northwestern Nevada.
The record stands to this day.
Homes near pylons to get £250 a year off energy bills – first sites revealed
UK Energy Minister Michael Shanks told BBC Radio Scotland Breakfast the UK’s power infrastructure had undergone decades of “woeful underinvestment”.
He said he understood the objections of those living nearby, but added the pylons were “crucial” to ensure the National Grid maintained future resilience.
“I totally accept that people might not like that, but it is critical national infrastructure and it has to be built somewhere,” he said.
“Building any kind of infrastructure in these communities does cause disruption. But that doesn’t mean we shouldn’t build any kind of infrastructure and I’m afraid in this country, for too long, we have taken that view, and the result is that we have been held back by not having the infrastructure the country needs.”
Shanks added: “Either we go through decades of not upgrading the grid and take the risk that the grid will actually fail, but we also lose the opportunity of cheaper bills, homegrown power connecting.
“We’re not prepared to take that risk.”
The Department for Energy Security and Net Zero says Britain’s electricity grid was largely designed for an era when power came from coal and gas-fired power stations, and now needs major upgrades to cope with growing amounts of renewable energy.
Ministers say the lack of capacity means some wind farms are sometimes paid to switch off because there is not enough network infrastructure available to carry the electricity to homes and businesses that need it.
Greg Jackson, chief executive of the UK’s biggest domestic energy supplier, Octopus Energy, said the electricity system is inefficient, brittle and expensive.
He told BBC Radio 4’s Today programme the discount scheme was a “positive first step”, adding that last year the UK spent more than £1bn paying wind farms to turn off on windy days.
“We should just be giving that electricity more cheaply to the people and businesses who live in the areas where we’re generating it,” he said.
“By doing that, you’d be able to stop wasting that money and instead put the electricity to use cutting bills for those people. But crucially cutting bills for everybody else as well because it’s less wasteful.”
Tightened blockade on Gaza causes prices to soar | Health
As Israel tightens its blockade on the entry of goods into Gaza, residents are left with no option but to maintain what they have. As a result, both lighters and fans have become the backbone of energy in the strip.
Published On 11 Aug 2026
Oil prices rise to $90 per barrel, then dip slightly
Aug. 11 (UPI) — The price of oil reached $90 per barrel Tuesday as Iran and President Donald Trump traded jabs about war reparations, decreasing hopes for a new peace deal.
The price dipped back down to $87 as of Tuesday morning.
West Texas Intermediate futures rose 19 cents to $82.32 per barrel around 8 a.m. EDT. Brent crude was up to $87.74.
Prices had dipped when Pakistan’s Defense Minister said the two warring countries were “close to some sort of arrangement.”
But on Monday, President Donald Trump posted on Truth Social demanding that Iran pay reparations, dimming hopes for peace. That caused a 3% spike.
The contradictory statements between Washington and Tehran also added to the fears Monday, as Trump said the United States has “100%” control of the Strait of Hormuz. Iranian Foreign Minister Abbas Araghchi said Sunday that the two sides were engaging, but not in person.
“The oil market remains very headline-driven, which leaves prices whipsawing. The latest bout of optimism is quickly fading,” ING strategists wrote in a Tuesday note, CNBC reported. “Current rhetoric suggests any potential deal is still some way off, meaning risks remain skewed to the upside for oil prices.”
Analysts at Deutsche Bank wrote in a research note that fears of higher inflation are coming from worries of a long standoff, The New York Times reported.
“That in turn led to mounting speculation about central bank rate hikes, with investors pricing in a more hawkish path for the months ahead,” the bank wrote.
The average gasoline price stayed at $4.11 a gallon Tuesday, a 38% increase since the start of the war with Iran.
Chile launches agenda to step up fight against organized crime

Chilean President Jose Antonio Kast’s agenda includes more than 30 bills aimed at strengthening efforts to combat criminal organizations. Photo by Adrian Thomasa/EPA
SANTIAGO, Chile, Aug. 10 (UPI) — Chilean President José Antonio Kast signed a constitutional reform bill Monday that lays the groundwork for his government’s new agenda to combat organized crime.
The initiative seeks to give the state stronger and more explicit tools to confront sophisticated criminal activity. Kast urged Congress to move quickly and approach the legislation with a willingness to reach agreements, with the goal of enacting the measures before the end of the year.
The government’s agenda includes more than 30 bills aimed at strengthening efforts to combat criminal organizations.
Key measures include creating a new state of emergency provision that would allow the deployment of the armed forces, establishing a registry of criminal organizations and creating separate high-security prisons for criminal leaders.
The measures would also streamline the seizure of illicit assets, extend the period in which authorities can make arrests in cases of flagrante delicto — caught in the act — to 24 hours and increase penalties for serious crimes.
Luis Toledo, a former prosecutor and director of the Center for Studies on Security and Organized Crime at San Sebastián University, said expectations about what the agenda can accomplish should be conservative.
“In the short and medium term, it is entirely possible to reduce homicides, regain control of certain territories, improve prison control and dismantle specific organizations, but structurally reversing the penetration of organized crime is another matter,” Toledo told UPI.
He said Chile is confronting not only criminal gangs, but also illicit markets with demand, sources of financing, money laundering mechanisms, recruitment capabilities and international connections.
“And those markets have an extraordinary capacity to adapt: When one structure is dismantled, smaller cells emerge, changing their leadership, communications, routes or financial mechanisms,” he said.
Toledo said Kast’s agenda contains significant proposals, but also has shortcomings, including combining measures targeting organized crime with broader public security and immigration enforcement policies.
“That distinction is important because not everything that increases the state’s coercive capacity necessarily dismantles a criminal organization,” he said.
He said the initiatives with the greatest potential are those aimed at targeting the assets of criminal organizations, seizing their property and preventing them from reinvesting illicit profits.
With organized crime expanding across Latin America, Toledo said tighter controls on illegal entry into the country and other measures proposed by Kast are necessary, but insufficient to address the problem on the scale required.
A transnational criminal organization cannot be fought exclusively through a national response, he said, adding that “international cooperation is one of the essential operational capabilities of a policy against organized crime.”
“We have to see whether Chile will be able to build a state policy that, on a sustained basis, creates a coordinated public security system capable of stripping organized crime of its money, command capabilities, territory, impunity and ability to recruit,” Toledo said. “That is where the possibility of truly reversing the phenomenon lies.”
Alfonso Kaiser, a risk management expert and professor in the Master of Engineering Management program at the University of the Andes, questioned the agenda’s lack of concrete objectives for measuring its results.
“A plan is being presented that does not have clear objectives. We don’t know how we are going to measure them or how much we want to achieve,” Kaiser told UPI.
“We need to take a more measured approach and conduct a somewhat more technical analysis of what goals we want to achieve and when we expect to achieve them.”
Kaiser agreed that border control should be a priority and said the government should strengthen the authority of Carabineros, Chile’s national uniformed police force, and the Maritime Police to deter illegal entry into the country. However, he said the main challenge lies within Chile itself.
“The main failure is internal. It is not that we are facing an extraordinarily intelligent enemy,” Kaiser said. “Our own mistakes are what have led to this situation.”
Saudi Arabia says fire extinguished at Aramco facility in Jizan | Conflict News
No casualties were reported after the flames broke out early on Sunday, the Saudi Energy Ministry says.
Published On 9 Aug 2026
A fire reported at a facility belonging to Saudi Arabian state oil giant Aramco has been extinguished, authorities say.
The blaze broke out early on Sunday at a site in the coastal city of Jizan, the Saudi Ministry of Energy wrote in a statement on X. No casualties were reported.
Recommended Stories
list of 4 itemsend of list
“The competent authorities are completing the necessary procedures to deal with the incident,” the ministry added.
It did not say what caused the fire.
Yemen’s Iran-backed Houthi armed group claimed it carried out an attack on the facility, located on the Red Sea near its border, the latest in a series of Houthi claims of strikes targeting Saudi oil sites.
A military spokesman for the Houthi led government in the capital Sanaa, Yahya Saree, wrote on X the group “succeeded in targeting the Aramco refinery in Jizan with a drone, and the strike was precise”.
He said the attack came in response to Saudi Arabia’s “breach of the airspace of the provinces of Saada and Hajjah” with drones.
There was no immediate comment on the claim from Riyadh. Al Jazeera has contacted the Saudi Ministry of Foreign Affairs.
The Houthis last month claimed attacks on Aramco facilities in Jizan. The Houthis also said they targeted oil installations in Yanbu, Saudi Arabia’s principal west coast export gateway.
Aramco chief Amin Nasser said last week that recent attacks on the company’s facilities had caused some production interruptions but that he was confident operations could be restored quickly. He said the attacks had no material operational or financial impact.
The attacks have added to growing strains on a 2022 truce in the war between the Houthis and Yemen’s internationally recognised government, backed by Saudi Arabia.
The Houthis, which took control of the capital, Sanaa, in 2014, also declared a blockade on Saudi Arabia in the Red Sea last month, threatening shipping through the Bab al-Mandeb strait.
Saudi authorities have also blamed Iran-aligned armed groups in Iraq for attacks on its oil facilities.
On Friday, Riyadh signed a defence pact with Turkiye and Pakistan amid rising regional tensions from the US-Israel war on Iran.
Myles Garrett’s new Rams teammates awed by his ‘monster energy’
The Rams knew the resume. Saw the highlights. Gathered all the intel required.
But they were not aware of Myles Garrett’s aura.
How could they?
It’s not tangible, nor easily defined.
It’s just there.
“You just feel him,” coach Sean McVay said Friday.
McVay felt and said that before. About Aaron Donald. About Jalen Ramsey.
But listening to Rams players talk about Garrett, this feels different.
Mystical.
“You can just feel his aura,” cornerback Trent McDuffie said.
Safety Quentin Lake explained it the same way.
“Just his presence,” Lake said, “his aura.”
Rams defensive end Myles Garrett smiles during training camp at Loyola Marymount on July 26.
(Robert Gauthier / Los Angeles Times)
The Myles Garrett effect is not confined to the defense.
“Everybody on the field can kind of feel this aura sitting on whatever side of the field he’s on,” offensive guard Kevin Dotson said. “You just feel this monster energy.”
Garrett, a 10th year pro and two-time NFL defensive player of the year, laughed when asked if he was conscious of his aura.
“I guess,” he said. “It’s great to hear that they have respect for me.”
Garrett, 30, is one of the biggest stars on a star-studded Rams team that is favored to win the Super Bowl, regardless of whether Donald comes out of retirement.
Garrett, the No. 1 pick in the 2017 draft out of Texas A&M, amassed 125½ sacks in nine seasons with the Cleveland Browns. He was defensive player of the year in 2023 and also last season, when he recorded a league-record 23 sacks.
In June, the Rams sent edge rusher Jared Verse, a 2027 first-round pick and future second- and third-round picks to the Browns for Garrett. He was regarded as the final piece for a franchise intent on winning a second Super Bowl title under McVay.
Garrett is acclimating to Southern California and a team that advanced to the NFC championship game last season before losing to the eventual Super Bowl champion Seattle Seahawks.
“It’s starting to feel like home rather quickly,” he said.
It did not take long for Garrett to ingratiate himself. His skill, work ethic and knowledge are imparted in the meeting room and on the field, edge rusher Byron Young said.
“It’s amazing,” Young said. “It’s art.”
Last season, Young recorded a career-best 12 sacks and was voted to the Pro Bowl.
With Garrett now lining up alongside him, the fourth-year pro is soaking in knowledge and learning from his example. Though Garrett, at 6 feet, 4 inches and 272 pounds, makes plays that can’t be replicated by others.
Myles Garrett (95) takes part in training camp along with wide receivers Puka Nacua (12) and Davante Adams (17) on July 26.
(Robert Gauthier / Los Angeles Times)
Garrett’s quickness off the ball is “insane,” Young said, noting that Garrett eats up “three or four yards,” with his first step.
“That right there alone is amazing,” Young said.
Garrett’s influence could be magnified if Donald, a three-time defensive player of the year, ends a two-year retirement to pursue another Super Bowl ring.
Garrett said he would not try to sway Donald’s decision. But he acknowledged that it would be exciting to be a “partner in crime” with the eight-time All-Pro.
“There’s a lot we can learn from each other,” Garrett said, “and I’d love to pick his brain on the things he does to attack his matchups and I think the same could be said vice versa.”
During training camp, Garrett and teammates are focused on blending their talents at all three levels of the defense.
Garrett is a “freak athlete for sure,” lineman Kobie Turner said.
Myles Garrett takes part in drills at Rams training camp on July 27.
(Eric Thayer / Los Angeles Times)
“We definitely understand the opportunities that should get opened up,” said Turner, who had seven sacks last season, “and if those opportunities don’t open up and they leave him soloed up, he’s going to take advantage.”
There is “no question” Garrett will dominate, Lake said.
“So now,” he said, “it’s just making sure, ‘Hey, can we do our job so this guy can go cut it loose over there too?’”
Garrett has embraced the Rams’ culture, built during McVay’s nine seasons during which the Rams made seven playoff appearances and played in two Super Bowls, winning one.
He is eager to share his knowledge and experience but also learn from younger teammates. The Rams’ defensive front features Young, Turner, and linemen Braden Fiske and Poona Ford, among others.
“This group was doing great without me,” Garrett said. “I want to just try to help elevate other guys and the playmakers that we have here.”
There is still “a lot of rust to knock off,” during camp and the lead-up to the season, he said.
The Rams’ opener against the San Francisco 49ers in Melbourne, Australia, will be their first opportunity to measure the benefit of Garrett’s presence. It’s the start of a season the Rams aim to end with a Super Bowl victory at SoFi Stadium.
“Maybe,” Garrett said, “the aura will increase over time.”
More than one million affected by floods in India’s Assam state | Environment
Thousands of people in India have been displaced since July after monsoon rains triggered severe flooding. India’s northeastern state of Assam is among the hardest hit, with at least 87 recorded deaths.
Published On 7 Aug 2026
Hungary faces energy crisis as Danube River dries to record lows

The dried banks of the Danube River are exposed due to the record low water level caused by extreme heat and drought in Budapest, Hungary. Photo by Zsolt Szigetvary/EPA
Aug. 5 (UPI) — Hungary is facing an energy crisis as the Danube River, which cools the nation’s largest power plant, dries to record lows.
Water levels of the 1,800-mile river, which flows through 10 countries in Europe, has fallen amid a three-month drought across the continent.
The Danube is an integral component in the running of Paks, Hungary’s only nuclear power plant, as it flows into the reactor and cools it down.
Three of the plant’s four reactors were not in operation on Wednesday, while the fourth is operating at 50% power, CBS News reported.
The plant is responsible for generating half the electricity needed by the country’s 10 million people.
“Several factors will determine whether Hungary’s most important power plant can avoid a complete shutdown in the coming days,” said Hungarian Prime Minister Peter Magyar, CBS News reported.
“There are a few critical days left — today and tomorrow are certainly that,” Magyar added, according to the outlet. “I ask everyone to continue the national unity that has developed in the country. Let’s do what our country demands.”
But the drying of the Danube has brought a silver lining for some. Residents and researchers have marveled at several discoveries that have emerged as water levels drop.
In Serbia, researchers have found some 200 boats that had been hidden deep in the Danube, including World War II-era Nazi warships, Smithsonian magazine reported.
A ship that likely sank in 1937 was exposed in Croatia.
And in Bulgaria, residents discovered the remains of a woolly mammoth.
BP posts 143% profit hike as Iran war sends oil and gas prices skyward
British oil giant BP posted second quarter profit on Tuesday of $5.7 billion, more than double the $2.35 billion it made in the April to June period in 2025, amid sharply higher oil and gas prices caused by the U.S.-Iran conflict. File photo by Neil Hall/EPA
Aug. 4 (UPI) — British oil giant BP posted second-quarter profit on Tuesday of $5.7 billion, more than double the $2.35 billion it made in the April to June period in 2025, amid sharply higher oil and gas prices caused by the U.S.-Iran conflict.
Profit was $2.5 billion more than what the company made in the first quarter, the first two months of which were before the United States and Israel attacked Iran on Feb. 28, and easily beat the $5 billion expected by analysts.
BP’s results, the latest of the oil giants to report bumper profits in recent days following on from Shell, Exxon Mobil and Chevron, came a day after U.S. President Donald Trump accused energy firms of exploiting the current shortage of supply.
“Based on a shortage, they’re making too much money,” he said Monday after Exxon Mobil and Chevron last week reported a combined $26.5 billion profit for the second quarter.
Trump demanded the companies return some of their windfall to the public by cutting their retail prices, saying profits that had jumped as much as 12-fold were not acceptable and that he was not happy about it.
On Friday, Shell, the other British supermajor, also posted results showing it more than doubled its earnings, reporting a $9.84 billion profit for the April to June period, up from $4.26 billion in the same period last year.
Environmental groups criticized the profit made by BP as unseemly.
“Clearly not everyone is feeling the pain of the energy crisis. While BP banks another round of enormous profits, millions of households are paying the price through sky-high energy bills and a climate crisis accelerating rapidly out of control with increasingly severe heatwaves, wildfires and droughts,” said Friends of the Earth campaigns head Rosie Downes.
BP CEO Meg O’Neill told CNBC on Tuesday that while she understood the pressure ordinary consumers felt when they were confronted by the prices at the pump, the company had little control over the cost.
“The reality is we produce a global commodity and the prices for the product we sell hangs off that global commodity price, said O’Neill, who stressed that the sterling financial results were due to strong performances across all its businesses,” she said.
She added that the company had tweaked the firm’s refining runs to ensure the products consumers needed most at any given point in time were available in sufficient quantities but insisted BP was “there was more to do.”
“We are not making the most of our potential. Our performance over the past few years has not met our own expectations, let alone those of our shareholders. We have not delivered consistently; we have written off too much value; and our costs and liabilities are not resilient enough in a low price environment,” said O’Neill.
BP’s results came four days after it put its North Sea oil business on the market amid uncertainty over whether the British government will forge ahead with phasing out North Sea oil and gas, in line with its Net Zero by 2050 target, or issue some new drilling licences to meet U.K. demand in the interim.
O’Neill said Tuesday that in a conversation with Prime Minister Andy Burnham he had assured her that he would take a “pragmatic” approach to the issue.
“The U.K. is still using a huge amount of oil and natural gas every single day, and we ought to be using our domestic resources first instead of buying those resources from a third party,” O’Neill added.
Analysts estimate BP’s 24 fields, about half of which are still producing, should fetch around $2.6 billion.
There are estimated to be at least 12 billion barrels of oil left under the North Sea, although developed reserves awaiting to be pumped are much lower.

























