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DUBAI, UNITED ARAB EMIRATES - MARCH 2: Commercial ships anchor off the coast of the United Arab Emirates due to navigation disruptions in the Strait of Hormuz, Dubai on March 2, 2026. Increased maritime traffic led to a buildup of vessels waiting near Dubai, highlighting the strategic importance of the strait, which handles 20 percent of global energy trade

Iran: Gas price hike jeopardizes storage

At the start of the week, Iran’s blockade of the Strait of Hormuz caused a steep increase in gas, oil, and electricity prices for the coming months. The key indicator for the filling of European gas storage facilities has turned negative.

By Manuel Berkel

Iran: How Europe is attempting a balancing act

Europeans have been guarded in their comments on “Operation Epic Fury,” the military action being taken by the US and Israel in Iran. They criticize Iran’s arbitrary counterattacks, warn against escalation, and avoid explicit criticism so as not to anger the Trump administration.

By Stephan Israel