Energy crisis

ECB makes first rate hike since 2023 to tame Iran war inflation

The ECB became the first major central bank to tighten monetary policy in response to the energy shock unleashed by the Middle East conflict.

Once an Arab oil embargo victim, US becomes world’s top oil exporter

US energy companies were the main beneficiaries of the closure of the Strait of Hormuz.

Cuba poised for biggest US fuel shipment since Cold War embargo

Cuba has been facing an acute energy crisis since a US blockade came into place.

England’s World Cup opener set to cause power spike as fans put the kettle on

Across Europe, major matches have long triggered sharp jumps in electricity demands as fans make snacks and open refrigerators.

US Fed says Iran war driving ‘moderate-to-strong’ inflation

The US Fed said energy costs linked to the Middle East conflict continue to fuel inflation, pushing up prices across shipping, packaging, groceries, and fertilisers.

Bangladesh raises electricity prices in latest Middle East war-related hike

Repeated price hikes have added strain on people struggling with long-running inflation which hit 9.04 per cent in April.

CEO Insights

More buzz around EVs, alternative energy sources due to Iran war: OCBC chief sustainability officer

OCBC group chief sustainability officer Mike Ng says the full energy transition will take several decades and its progress will not be linear.

Japan faces shortage of bananas as Middle East impact spreads

Japan ships bananas in while they are still green, then ripen them in rooms filled with ethylene before bunches reach store shelves.

Asia rice prices surge 20% in May as war, weather threaten output

Farmers across import-reliant Asia are bracing for the high input costs to start weighing on rice production

Iran war raises airfares for haj pilgrimage to Saudi Arabia

The war in Iran has disrupted air traffic across the Gulf since February and resulted in record prices for jet fuel, leading to higher ticket fares for those seeking to travel to the sacred city of Mecca.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.