Asia braces for a second wave of energy shocks from the Iran war

BANGKOK (AP) — Asia’s first defenses against energy shocks from the Iran war are running short and a second wave of impacts is beginning to hit. When the war started, governments scrambled to adapt to the closure of the Strait of Hormuz, a critical artery for energy flowing to Asia. They made difficult trade-offs: saving power at the risk of slowing businesses, prioritizing gas for households at the risk of fertilizer production and dipping into energy stockpiles for temporary relief. READ MORE: Fuel price adjustments for May 12: Gasoline up, diesel down How the Iran War is hurting millions But […]...

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