Gas

An incident during the start-up of operations at Ras Laffan Industrial City resulted in an explosion at the Barzan local gas supply facility on Sunday evening, QatarEnergy said in a statement.

An official described the report as an example "of how hedging works behind the scenes with Gulf states and their communications with Iran.”

Backup supplies from SOCAR are giving Egypt and Jordan alternatives when Israeli gas exports are disrupted, while keeping Israel linked to regional customers that may avoid direct purchases.

This will allow the Leviathan partners to significantly increase their production, which will be available for both the domestic economy and export.

Chinese President Xi Jinping called for authorities to "spare no effort" in treating the injured and conducting search-and-rescue operations.

The president's popularity has taken a hit this year as Americans suffer from surging gasoline prices since Trump ordered strikes on Iran in February alongside Israel.

The exit would complicate OPEC+'s efforts to balance the market through supply adjustments because the group would have control over less of the global production.

The gathering of ministers and officials in Santa Marta, Colombia, which starts on Tuesday, will focus on practical steps to shift economies away from fossil fuels.

The EU plans to cut electricity taxes and coordinate gas storage efforts to mitigate the energy fallout from the Iran conflict, without major market interventions.

The EU is preparing measures to curb the impact the war is having on jet fuel supply, Jorgensen told reporters in Madrid.