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The recent ceasefire between the United States and Iran may provide temporary relief, but the oil crisis triggered by their conflict is far from over. After 40 days of fighting, the two nations agreed to a two-week ceasefire, with negotiations set to begin in Pakistan's capital, Islamabad.One of the key points in Iran's 10-point proposal is allowing shipping to resume through the Strait of Hormuz, a critical waterway through which 20 percent of the world's oil and gas is shipped during peacetime. The strait has been effectively closed since the start of the war, causing global oil and gas prices to soar.Following the announcement, oil prices dropped to $92 on Wednesday, down from over $110 for much of the war. However, delays in restarting production and transport mean the energy crisis is far from over. For ships to continue operating, they need certainty about security during the next two weeks of the ceasefire.Even with the waterway reopened, it will take weeks for large oil tankers – now scattered thousands of miles away – to return to the Gulf to collect the millions of barrels sitting in large reservoirs. With very few tankers able to load or unload and their onshore storage full, producers began shutting wells, causing regional oil output to plummet despite efforts to reroute limited volumes via overland pipelines.Economists warn that the true impact on grocery bills will likely persist throughout 2026 and into 2027. Additionally, it will take years for the Gulf energy industry to repair facilities damaged or destroyed during the war.Shipping data shows that combined exports from Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates fell from 469 million barrels in February to 263 million barrels in March – a decline of 206 million barrels, or 44 percent. Iraq's crude exports have been hit the hardest, falling 82 percent from 94m barrels in February to 17m in March.The 206 million barrels of Gulf oil lost since the start of the war would fill approximately 103 Very Large Crude Carriers (VLCCs), the workhorse supertankers of the global energy trade. A single VLCC stretches nearly 330 metres (1,080 feet) in length, nearly the same height as the Eiffel Tower in Paris.To put that in more practical terms, if you drove a pick-up truck that averages 24 miles per gallon (or 10 litres per 100km), one barrel of crude oil would carry you about 730km or 450 miles. That is about the distance from New York City to Cleveland, Ohio.For much of the war, oil has traded above $100 per barrel, hitting a peak of nearly $128 on April 2. The value of 206 million lost export barrels at various oil prices is significant, with Brent crude being the global benchmark.

Israeli forces launched a series of coordinated strikes across Lebanon on Wednesday, killing dozens and wounding hundreds, just hours after a ceasefire was announced in the US-Israeli war on Iran. The attacks, which targeted areas in Beirut, the Bekaa Valley, and southern Lebanon, were the largest coordinated strike by Israel since it began a new military operation in Lebanon on March 2. The Israeli military carried out a surprise strike on hundreds of Hezbollah terrorists at command centers across Lebanon, according to Israeli Defence Minister Israel Katz. The strikes targeted Hezbollah infrastructure, with over 100 Hezbollah command centers and military sites hit. Lebanon's Ministry of Public Health reported that dozens of people were killed and hundreds wounded in the attacks. The Lebanese Red Cross said 100 of its ambulances were responding to the attacks, with teams working to transport the injured to hospitals. Hospitals were overcrowded, and health officials warned of a dire situation. Israeli Prime Minister Benjamin Netanyahu had earlier stated that the US-Iran truce excluded Lebanon, a country Israel has invaded in a new campaign against the armed group Hezbollah. Lebanese Prime Minister Nawaf Salam condemned the attacks, saying Israel was killing 'defenceless civilians' and showing disregard for international law. The violence has resulted in over 1,530 people killed in Lebanon since March 2, including women and children, and over 1.2 million people displaced. The situation remains volatile, with Hezbollah warning of a response from Iran and its allies if Israel does not adhere to a ceasefire.

Karim Baksh of Dasht, a remote Balochistan village, once relied on a diesel‑powered pump to irrigate his watermelon fields. After the 2022 Russia‑Ukraine war drove diesel prices sky‑high, he could no longer afford the fuel, forcing him to cut back his cultivated area. In 2023 he took a gamble: borrowing 300,000 Pakistani rupees (≈ $1,075) from relatives and installing a modest row of solar panels. Three years later, the panels run his pump without diesel, letting him water his crops even as global oil markets tumble amid the US‑Israel war on Iran and the temporary closure of the Strait of Hormuz, through which 20% of world oil and gas normally flows. Baksh’s experience reflects a broader national shift. Pakistan imports about 80% of its oil via the Hormuz chokepoint and sources 99% of its LNG from Qatar and the UAE. A Council on Foreign Relations report warns that a prolonged closure could trigger severe power shortages, factory shutdowns, and transport disruptions. Yet a quiet solar revolution is building resilience. Since 2018, rooftop solar installations have saved Pakistan over $12 billion in fuel imports, and at current prices the sector is projected to save another $6.3 billion this year alone. According to the independent think‑tank EMBER, solar’s share of the national energy mix surged from 2.9% in 2020 to 32.3% in 2025. This growth is not the result of a single government plan but of millions of individual decisions—farmers swapping diesel pumps, businesses installing panels, and households seeking reliable electricity. In urban centres such as Lahore and Karachi, solar rooftops are commonplace. Homeowners typically recoup installation costs within a few years, enjoy free electricity thereafter, and can even sell surplus power back to the grid through net‑metering. By 2025, 25% of Pakistani households use solar in some form, up from 15% in 2023, with over 280,000 consumers now participating in net‑metering schemes. However, the benefits are uneven. The upfront cost of a 3 kW system—about 450,000 rupees ($1,610)—and larger commercial setups costing up to 2.2 million rupees ($7,874) remain out of reach for many low‑income families. Analysts warn that non‑solar users, largely poorer households, are subsidising the grid usage of solar owners. Net‑metering has already shifted an estimated 159 billion rupees (≈ $570 million) of costs onto other consumers, raising concerns about a two‑tier energy system. The rapid expansion is powered largely by imports from China, which controls roughly 80% of the global solar supply chain. Chinese lithium‑ion batteries, now 20% cheaper than in 2024, enable storage for nighttime use, further reducing reliance on the national grid. Solar panel prices have plummeted: from 100‑120 rupees per watt in the early 2010s to about 30 rupees per watt today. This price collapse, combined with electricity shortages and rising tariffs after the 2022 oil price spike, made solar an attractive alternative for those able to invest. Government policy has been mixed. A 2015 net‑metering scheme encouraged adoption by offering roughly 25 rupees ($0.090) per kilowatt‑hour for exported power and by reducing import taxes on panels. More recently, concerns over the financial strain on the power sector led to a cut in the buy‑back rate to about 10 rupees ($0.036) per kilowatt‑hour. For Baksh, the policy shifts matter little. His solar‑powered pump guarantees water for his watermelons regardless of diesel price swings or geopolitical turmoil. He plans to expand his solar array, increase production, and ship his harvest to larger markets in Quetta and Karachi. In a region where temperatures can soar to 51 °C (124 °F), the sun has become a reliable ally—ensuring that, for farmers like Baksh, “the water keeps flowing no matter what.”

President Donald Trump issued a stark warning on Thursday, stating that the United States could carry out a “complete demolition” of Iran’s power plants and bridges within hours if Tehran does not fully reopen the Strait of Hormuz by the Tuesday deadline.The ultimatum follows a U.S. cease‑fire proposal that has been conveyed to Tehran through intermediaries. While Trump described Iran’s reply as “significant,” he added that it falls short of what Washington considers acceptable.Trump’s remarks intensify pressure on Iran to restore the vital shipping lane, which transports a large share of global oil. Failure to meet the deadline could trigger the threatened military action, raising the risk of further destabilisation in the already volatile Middle East region.

The United States has issued a threat to demolish Iran's critical infrastructure, including bridges and power plants, if Tehran does not open the Strait of Hormuz by early Wednesday. This move, described by President Donald Trump as 'Bridge Day', has raised concerns among experts, who warn that it could amount to war crimes.Iran has approximately 300,000 bridges and technical structures, with only about 185 exceeding 100m in length. Five of the country's most prominent bridges are at risk:1. Persian Gulf Bridge (Qeshm Island): A 3.4km-long unfinished bridge connecting Qeshm Island to Bandar Abbas, representing an investment of up to $700m. Destroying it would erase decades of national planning and impact Iran's hopes for a direct link to the island.2. Lake Urmia Bridge (Shahid Kalantari Bridge): A 1.7km-long bridge connecting Tabriz and Urmia, cutting the driving distance between the cities from 240km to 130km. An attack could trigger an ecological disaster by dumping steel pilings and concrete into the shrinking Lake Urmia.3. Sadr Multilevel Expressway: An 11km-long bridge in Tehran, supporting millions of commuters daily. An attack could cause massive urban casualties, destroy a key transport artery, and plunge Tehran's emergency evacuation systems into chaos.4. Karun 4 Arch Bridge: A 378m-long bridge in Chaharmahal and Bakhtiari province, crucial for connecting Shahr-e-Kord and Izeh. Bombing it risks causing secondary damage to the hydroelectric facility, potentially leading to fatal flooding.5. Ghadir Cable-stayed Bridge (8th Bridge): A 1,014m-long bridge in Ahvaz, spanning the Karun River. Destroying it would cut the city in two, choking off daily movement and emergency services in a province already battered by air strikes.

Vietnam’s gig‑economy is under pressure as fuel prices soar following the Iran‑related blockade of the Strait of Hormuz. Nguyen, an e‑hailing driver in Ho Chi Minh City, reported that a 7‑hour shift earned him 240,000 VND (≈$9.11) while fuel alone cost 120,000 VND (≈$4.56), wiping out half his income.Diesel prices have more than doubled and petrol has risen by almost 30 %, straining riders who rely on motorcycles – the dominant transport mode in a city of over 7 million two‑wheelers.In response, Prime Minister Pham Minh Chinh announced a temporary suspension of the environmental tax on diesel, petrol and aviation fuel until 15 April, a move that will forfeit an estimated $273 million in revenue but aims to curb the price surge.Experts warn the shock highlights Vietnam’s vulnerability to external conflicts. Nguyen Khac Giang, a visiting fellow at the ISEAS‑Yusof Ishak Institute, said the tax cut is essential to “keep macro‑economic stability intact” amid “turbulence outside Vietnam”.Beyond gig workers, the ripple effect reaches public transport and airlines. Bus operators have raised fares by 3,000 VND (≈$0.11) yet still face losses, while Vietnam Airlines and Vietjet have trimmed flight schedules.Gig workers lack collective bargaining power. Do Hai Ha, a University of Melbourne research fellow, noted that platform drivers “have no chance to negotiate with the platforms” and are excluded from minimum‑wage or overtime protections, forcing many to work longer hours for diminishing returns.Small‑scale entrepreneurs are also feeling the pinch. A fisherman from Binh Thuan reported that his catch price fell from 800,000 VND (≈$30) to 650,000 VND (≈$24) as fuel costs climbed, while a bus fare collector on route 13 said the company cannot absorb the higher fuel bill despite modest fare hikes.Households are cutting back on essential goods. Uyen Pham of Saigon Children’s Charity observed that the price of bottled cooking gas has nearly doubled, prompting low‑income families to revert to wood‑fuel stoves and limit travel to see relatives.The crisis is prompting a strategic rethink on energy policy. Giang warned that Vietnam’s reliance on just two refineries – which currently meet only 40 % of national petrol demand – is unsustainable, urging accelerated investment in domestic refining capacity.Corporate responses are already shifting. Vingroup, the country’s largest conglomerate, announced it would pause a planned LNG‑fired power plant and redirect funds to renewable projects, citing “significant risk of high fuel prices” linked to the war.For workers like Duy, who runs a café near a petrol station, the tax suspension offers modest relief: projected price cuts of about 25 % for petrol and 5 % for diesel could ease daily expenses that had briefly doubled.

Majdi Aslan, a 54‑year‑old WHO driver, was killed on Monday when Israeli troops opened fire on a vehicle carrying World Health Organization staff in eastern Khan Younis. Several other passengers, including a WHO doctor, sustained injuries.The incident occurred near the so‑called yellow line on Salah al‑Din Street, an area that has seen near‑daily Israeli strikes since a fragile ceasefire was brokered in October. Gaza’s Health Ministry reports that more than 700 Palestinians have been killed in the renewed wave of violence.According to Al Jazeera correspondent Hani Mahmoud, Israeli forces fired indiscriminately at people and vehicles traveling along the road. A civilian commercial vehicle was followed by a car transporting WHO personnel; the WHO driver was hit in the head and later pronounced dead at Al‑Aqsa Hospital, while roughly seven others were wounded.WHO did not immediately confirm the victim’s employment but issued a statement saying a “critical security incident” had occurred and that medical evacuations from Gaza via the Rafah crossing were suspended with immediate effect. The organization has been coordinating limited patient transfers through Rafah since the crossing reopened earlier this year.The suspension comes as Israel continues to restrict humanitarian aid entry and has repeatedly closed the Rafah crossing, especially as the broader U.S.–Israel conflict with Iran draws international focus. The halt threatens the already strained access to life‑saving treatment for thousands of injured Palestinians.Elsewhere on Monday, a Palestinian man with special needs was killed by Israeli soldiers in southern Khan Younis, a drone strike in Gaza City claimed a 36‑year‑old civilian, and two more Palestinians died in drone attacks on the Yarmouk and Shujayea neighborhoods. Hospital sources say eight Palestinians have been killed by Israeli air strikes outside areas under Israeli control since Sunday.

The global oil trade is facing a chokepoint crisis, with Libya's oil disputes mirroring the situation in the Hormuz Strait. The Strait of Hormuz, a critical waterway for oil transportation, was briefly closed after US and Israeli strikes on Iran in late February, causing Brent crude oil prices to soar to nearly $120 a barrel.Libya, with its strategically located oil terminals on the northeastern coast, has become a crucial player in the global oil trade. The country's light, sweet grades of oil are particularly valuable to European refiners. However, Libya's political instability and factional oil deals are threatening to disrupt oil supplies, with Europe's energy security hanging in the balance.The Libyan National Army (LNA), led by Khalifa Haftar, controls the territory where Libya's oil is located, while the Government of National Unity (GNU) in Tripoli signs oil contracts. This has led to a situation where Tripoli may sign oil contracts, but Haftar decides whether oil actually flows. The Arkenu agreement, a private oil company linked to the Haftar family, was recently terminated due to corruption allegations, leaving the future of Libya's oil supplies uncertain.The US is attempting to broker new talks between Tripoli and Haftar's camp, but a deal is not yet certain. Meanwhile, European energy security is at risk, with the Mediterranean Sea becoming a battleground for proxy wars between Russia and Ukraine. The sabotage of oil infrastructure and attacks on tankers are exacerbating the situation, highlighting the need for a stable and secure oil supply to Europe.

Recent developments have positioned Asia as the central arena of the global oil crisis, a shift driven by a confluence of rising consumption, supply-chain bottlenecks, and heightened geopolitical friction across the region.Demand for petroleum products in major Asian economies continues to outpace the limited output from traditional exporters, intensifying competition for scarce barrels. At the same time, regional disputes—particularly those affecting key maritime routes and production hubs—have compounded the supply shortfall, prompting governments and industry leaders to reassess energy strategies.Analysts warn that the crisis could ripple through global markets, inflating transport costs, squeezing manufacturing margins, and accelerating the push toward alternative energy sources. Policymakers are now under pressure to balance short‑term relief measures with longer‑term diversification plans to mitigate future vulnerabilities.While the situation remains fluid, the emergence of Asia as the crisis’s hotspot underscores the interconnected nature of modern energy systems and the urgent need for coordinated international responses.