Once the Strait of Hormuz reopens, it will be necessary to repair facilities, restart wells, and manage a logistical crisis at sea. Gas and oil prices will continue to reflect geopolitical risks
Analysts are beginning to consider the possibility of prices breaking all records if the conflict in the Middle East persists. In that case, a global recession would be almost inevitable
The immediate effect will depend more on how quickly the oil reaches the market and the logistics of its transportation than on the unlocked amount
The International Energy Agency points out that some countries, such as the U.S. and Canada, have already approved plans to reduce emissions of this powerful greenhouse gas
The strong rise contrasts with the sluggish overall consumption, according to the IEA, which forecasts that renewables will overtake coal next year
