Kathmandu. The deadline for a 15-day ceasefire between the United States and Iran is approaching. However, both countries have accused each other of violating the ceasefire.
Iran has once again closed the Strait of Hormuz. No ships passed through this waterway on Sunday. This has increased the price of crude oil by 6 percent today.
About 20 percent of the world’s oil passes through Hormuz. It accounts for 39 percent of Europe’s jet fuel and kerosene. So after Asia, now there is a crisis in Europe.
Europe’s energy crisis is deepening. This can be gauged from the fact that the European Commission has advised people to work from home. It also says that people should use public transport instead of their own vehicles while saving petrol and diesel.
According to the latest data from the International Energy Agency (IEA), there are only 6 weeks of jet fuel left in Europe. This can lead to the cancellation of flights on nonessential routes.
Europe was already facing an energy crisis due to the war between Russia and Ukraine. Now the Iran war has added to the problem. This is expected to drive up prices in Europe.
Most of the oil from Hormuz goes to Asian countries. This has led to widespread unrest in Asian countries. The Philippines declared an energy emergency 9 days ago.
Last year, 45 percent of crude oil from Hormuz, which connects the Persian Gulf to the Gulf of Oman and the Arabian Sea, went to Asian countries. Asian countries also import 30 percent of petrol and naphtha, 9 percent of diesel and 5 percent of jet fuel through this route. Similarly, 39 percent of Europe’s aviation fuel and kerosene transit through this route. Similarly, 41 percent of Africa’s jet fuel and 23 percent of diesel is transported through this route.
The impact of this crisis has also been seen in the United States. In the United States, the price of gasoline has reached $ 4.05 per gallon. That’s not expected to be less than $3 a gallon until next year, experts say. The international benchmark Brent rose 7% to $96.88 a barrel today after falling sharply in the previous session. The US benchmark WTI rose 7% to $90.33. –Agency
