Energy Crisis

Cuba’s government said the CIA director visited Havana as the island faces its worst energy crisis in decades with widespread blackouts.

Cuba Runs Out of Diesel and Oil Cuba’s Energy Minister has officially announced that the country’s diesel and oil reserves are completely exhausted, plunging the island nation into a severe energy crisis. This development worsens Cuba’s longstanding economic challenges. The fuel shortage has triggered widespread blackouts, transportation paralysis, and agricultural disruption. The Cuban government is seeking emergency import channels, but limited foreign exchange reserves and international sanctions make a quick resolution unlikely. Daily life has been severely impacted, with hospitals and critical infrastructure under strain. ...

Modi Calls for National Austerity Amid Iran War Indian Prime Minister Narendra Modi has urged citizens to work from home and limit foreign travel as the ongoing Iran conflict continues to disrupt global energy supplies. Austerity Measures Speaking to the nation, Modi said the measures would reduce India’s fuel consumption and help conserve foreign exchange reserves. The Strait of Hormuz blockade has severely impacted India’s oil imports. India, the world’s third-largest oil importer, is heavily dependent on Middle Eastern crude. The shipping disruption has sent international oil prices soaring, putting enormous strain on the Indian economy. ...

Brent crude briefly surged above $126 a barrel, the highest since 2022. Axios reports that US Central Command has prepared plans for ‘short and powerful’ strikes on Iran as peace talks stall and the Strait of Hormuz remains effectively closed.

International oil prices surge over 5% to $117 per barrel following reports that Trump has instructed aides to prepare for an extended Iranian blockade of the Strait of Hormuz.

The Middle East conflict continues to drive up global fuel prices, triggering a surge in electric vehicle sales across Australia, Vietnam, Japan, South Korea, and beyond. Analysts say this could lead to a permanent acceleration in EV adoption in emerging markets.