CENTCOM said U.S. forces destroyed five Iranian oil tankers after ballistic missile attacks on a Navy ship, escalating risks around Hormuz.
Gasoline prices in annexed Crimea have surged by nearly 80% in early July amid Russia’s fuel supply crisis and export restrictions.
The UK has issued an indefinite license permitting imports of diesel and kerosene derived from Russian oil via third countries, signaling a strategic shift amid global energy challenges.
Lufthansa will cancel 20,000 flights through October 2026 to save over 40,000 tons of jet fuel amid rising energy costs and geopolitical instability affecting aviation fuel supplies.
Global airlines reduce flight capacity by 3% in May due to jet fuel shortages caused by Middle East conflicts and the Strait of Hormuz blockade.