Tight global oil supplies, compounded by fears of further U.S. strikes against Iran, are stoking concerns over a potential oil price super-spike. Global petroleum inventories are shrinking, while U.S. fuel prices surge to historic highs, fueling inflation and intensifying pressure on the economy. As Middle East tensions disrupt shipping through the Strait of Hormuz, a chokepoint for one-fifth of…
Turkey targets total investments of $500 billion in energy infrastructure in its new energy plan to 2040, Minister of Energy and Natural Resources, Alparslan Bayraktar, said on Thursday, as the country looks to boost its energy independence and eventually become energy independent. In recent years, Turkey has been paying up to $70 billion to import energy, including coal, oil, and gas. The new…