ME-crisis

Due to the ongoing war in the Middle East, major changes have occurred in LPG (liquefied petroleum gas) imports. Instead of the Middle East, nearly 80 percent of the country's total demand is being met by imported gas from the United States. The price of U.S. gas is higher and ship fares are also higher while transporting the fuel into the country. And, this is what has increased the price of LP gas in Bangladesh. The LPG Operators Association of Bangladesh (LOAB) sent a press release...

Iran's Parliament Speaker and chief negotiator Mohammad Bagher Ghalibaf has warned that after eight months of war between Iran and the United States-Israel, the Strait of Hormuz will never return to its pre-war condition.He claimed that Iran and Oman have reached an understanding regarding the oversight of this important waterway. This understanding was reached as part of the seven-point proposal Tehran put forward to end the war.In an interview with Al Jazeera on Wednesday, Ghalibaf also spoke...

Iran's Islamic Revolutionary Guard Corps (IRGC) has claimed that four oil tankers caught fire after being hit by naval mines in the Strait of Hormuz. Two of the tankers were carrying 20 million barrels of crude oil each. Amid this situation, oil prices have also risen in the global market.On Friday, the IRGC navy said all four tankers were hit in separate incidents in the Strait of Hormuz. However, these claims by Iran could not be independently verified.The IRGC claimed that late in the day, tw...

Saudi Arabia said ​its main airport resumed operations at two terminals on Sunday even as Yemen's Iran-aligned Houthis vowed ‌to keep striking the facility, saying it remained a "military target".King Khalid International Airport in Riyadh had halted operations on October 10 following an attack, opens new tab claimed by the Houthis that killed 13 people, the deadliest in the kingdom in more than a decade.Saudi Arabia intercepted another wave of missiles ​and drones on Sunday as fighting with the...

An attack has been carried out on King Fahd International Airport in Dammam, Saudi Arabia, leaving one person dead and eight others injured, according to the country’s civil aviation authority.In a statement on Wednesday, the General Authority of Civil Aviation (GACA) said several of the injured were in critical condition. All the injured were taken to hospitals.Earlier on Wednesday, Saudi Arabia’s Ministry of Energy said the country’s air defence systems had intercepted a drone attempting...

Due to limited operations of various airports in Saudi Arabia, 62 flights of Bangladesh have been suspended. Among them, 23 are direct flights and 39 are transit flights. At least 9,674 passengers have been affected by such flight cancellations. Kawsar Mahmud, public relations officer of the Civil Aviation Authority of Bangladesh (CAAB), provided this information to Agamir Somoy effective until 1:30 pm today, Tuesday.Among the suspended direct flights, there are 9 flights of Biman Bangladesh Air...

Some expatriates have exhausted their leaves and must return to work, while others are running out of time on their visas. But the cancellation of scheduled flights has left many Bangladeshis traveling to Saudi Arabia in uncertainty. They wait anxiously, unsure when they will be able to leave. Meanwhile, some have found relief after receiving tickets for alternative flights.Amid the ongoing conflict in the Middle East, flight operations at two Saudi Arabian airports were suspended following an a...

In the maze of the Middle East's regional storm, Saudi Arabia, the self-styled leader of the region, has now lost its way. The kingdom's royal forces, equipped with the pride of American petrodollars, advanced fighter jets, Patriot missiles, and billions of dollars worth of weaponry, are today in a deep psychological crisis. Sleep has become forbidden in the luxurious royal palaces. The calculation that a few weeks of fierce airstrikes would reduce Yemen's rugged mountain tough guys, the Houthi...

At least seven Riyadh-bound flights from Dhaka have been canceled following the attack on King Khalid International Airport in Saudi Arabia.Kawsar Mahmud, Assistant Director of the Public Relations Department at the Civil Aviation Authority of Bangladesh (CAAB), informed the media of the flight cancellations as of 1:30 PM today.The airlines whose flights were canceled have advised passengers not to proceed to Hazrat Shahjalal International Airport. They also said that revised flight schedules wi...

Oil prices jumped on Thursday ‌on persistent worries about supply from the Middle East amid an increase in attacks on shipping in the Gulf and the Strait of Hormuz, while the US cut output as a hurricane menaced offshore production.Brent crude futures were up $4.55, or 4.54%, at $104.75 a barrel by 1205 GMT — the highest in over ​a week. US West Texas Intermediate (WTI) crude gained $4, or 4.53%, to $92.28, its highest since October 2. Both contracts rose over $5 ​a barrel earlier in the session...

Three people have been killed in attacks on Saudi airports, the country's civil aviation authorities said on ​Wednesday, as fighting intensified in Yemen between the Iran-aligned Houthis and Saudi-backed government forces.One person was killed and eight wounded in an attack on King Khalid International Airport in the ‌Saudi capital Riyadh, and two were killed and 28 wounded in an attack on facilities at Abha airport, it said in a statement.One of the attacks was on Wednesday and the other on Tue...

Oil prices inched higher in volatile trade on Monday ​after crude exports from the Middle East increased and the Group of Seven nations pledged to boost supplies, although ‌concerns about ongoing disruption linked to the US-Israeli war on Iran limited selling.Brent crude futures inched up 5 cents to $102.30 a barrel at 0900 GMT, while US West Texas Intermediate crude was at $90.62 a barrel, down 49 cents, or 0.5%. Both contracts fell over 1% earlier in the session.Brent gave up most of its ​gain...

Qatar's energy company QatarEnergy has extended the suspension of liquefied natural gas (LNG) supply to Bangladesh, as ship movement through the Strait of Hormuz remains halted. Pakistan's buyers have also been informed that LNG will not be supplied until November.QatarEnergy has also informed Italy's energy company Edison that it will not be able to supply LNG until the beginning of December. Edison said six more LNG cargoes have been newly cancelled. With this, the total number of cargoes not...

Iran has set seven conditions for resuming peace talks with the United States. Mohsen Rezaei, secretary to Iran’s Supreme National Security Council, said the conditions had been conveyed to Washington through Qatar. Rezaei made the remarks in an interview with Qatar-based news outlet Al Jazeera on Saturday. He said Qatar had already communicated Iran’s conditions to the United States. Tehran is now waiting for a response from US President Donald Trump. In a post on X, Rezaei also said tha...

Turkey and several other countries have put forward new conditions and proposals to end the ongoing war between the United States and Iran. Turkish Foreign Minister Hakan Fidan said efforts were underway to advance negotiations between the two countries through these proposals. However, he pointed out that reaching an agreement had become difficult due to deep mistrust between Iran and the U.S.A. In an interview with Turkish television channel NTV, Fidan said, “Turkey and other countries ar...

EU petrol and diesel prices hit record highs this week, according to the European Commission. Refining margins—the cost of turning crude oil into fuel—are partly to blame, and prices could remain elevated as ECB experts tell Euronews that diesel margins are expected to peak only in October.Filling up a car has never cost more on average across the European Union, according to European Commission data going back more than two decades. At the latest average prices, it costs about €103 to fill a 50...

The Middle East war now surrounds two sea routes. On one side is Hormuz, and on the other, Bab al-Mandeb. Both are the heart of the global energy trade, and both are now facing uncertainty. The waves of these two crises are washing over the shores of import-dependent economies like Bangladesh. The longer the war drags on, the more prolonged the uncertainty in the global energy market will be. Experts believe that alongside managing reserves and seeking alternative sources in the short term, dive...

Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, ​adding to concerns about Iran-related threats to energy supplies after Saudi Arabia shut down a vital oil pipeline.The British navy-affiliated agency UKMTO said it had a report of ‌a projectile hitting a vessel as it moved through the Strait of Hormuz. The amount of damage and the status of the crew were unknown as of early Sunday, the agency said.UKMTO's report came the day after Saudi Arabia said...

US President Donald Trump recently announced what he described as "the largest oil deal in the history of the world" with Venezuela.On August 28, he claimed that this deal would more than double the United States' oil reserves. At the same time, it would lower fuel prices for Americans. Additionally, Venezuela's economy would benefit.However, analysts say the reality is different. This deal could increase oil supply in the long term. But in the immediate term, there is little chance of oil or fu...

Iran is still seeking a negotiated solution to its ‌conflict with the U.S., President Masoud Pezeshkian said on Monday, a day after the two countries resumed hostilities for the first time since late July, driving oil prices up more than 3.5%.Pezeshkian's comments also came after U.S. President Donald Trump posted an AI-generated video clip that he said showed Iran's oil hub Kharg Island being destroyed. There was no evidence of any such attack and a U.S. official said on Monday the military had...