From: Counting the Cost
What can nations do to make up for the ongoing energy shortfall?
The Middle East conflict has cut off 20 percent of the world’s fuel supply. Countries are scrambling for alternatives.
![The vessel arrived at Cuba's largest supertanker and fuel storage port at daybreak [File: Norlys Perez/Reuters]](/wp-content/uploads/2026/03/2026-03-31T130326Z_575094210_RC2NFKA7LTWM_RTRMADP_3_CUBA-CRISIS-RUSSIA-OIL-1774966785.jpg?resize=770%2C513&quality=80)
![A man walks on a street as Cuba's national electric grid collapsed for the second time in a week amid the US-imposed oil blockade, according to officials, as the communist government struggles to keep the lights on for about 10 million people with decrepit infrastructure, in Havana, Cuba on March 21, 2026. [Norlys Perez/Reuters]](/wp-content/uploads/2026/03/image-1774896935.jpg?resize=770%2C513&quality=80)
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G7 ready to take ‘necessary measures’ to ensure energy market stability
Jitters in G7 nations as higher energy prices threaten to drive up inflation, damage purchasing power and stunt growth.
Oil tops $116 a barrel as Iran accuses US of preparing invasion
Crude prices continue to climb as world faces its biggest energy crisis in decades.
![A worker collects engine oil as he works at a degassing station in the Zubair oilfield near Basra, Iraq, on March 28, 2026 [Leo Correa/AP]](/wp-content/uploads/2026/03/AP26087465268697-1774828127.jpg?resize=770%2C513&quality=80)
Iran’s IRGC claims attacks on UAE, Bahrain aluminium facilities
Iran targets Aluminium Bahrain, Emirates Global Aluminium in retaliation for US-Israeli attacks on its infrastructure.
What is the TACO trade and are investors profiting amid war on Iran?
Global energy crisis continues to widen amid market volatility, while so-called ‘TACO traders’ attempt to capitalise.
US diplomat Marco Rubio denounces settler violence, tolls in Hormuz strait
Rubio reiterated President Donald Trump’s call for other countries to participate in securing the Strait of Hormuz.
From: Counting the Cost
Is Europe heading to an energy crisis?
Europe is bracing for a supply crunch and a price shock as the Iran conflict drags on.
Published On 27 Mar 2026
Norway to add more than $11bn to defence budget over 10 years
Norway, as well as other NATO countries, has been under pressure from the US to boost defence spending.
Yemenis fear economic consequences of being dragged into US-Iran conflict
Iran-allied Houthis yet to get involved in conflict, but could target shipping in Red Sea.
India lowers fuel taxes, says rumours of lockdown ‘completely false’
India, the world’s third biggest crude importer, announces measures amid shortages created by the Iran war.
‘Junk’: Faulty electronics from rich countries flood Nigeria with e-waste
Discarded, near-end-of-life electronics shipped from developed countries are adding to Nigeria’s growing e-waste burden.
