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The US war on Iran has boosted prices of globally traded natural gas by throttling exports from the Gulf. In West Texas, gas is so abundant that some producers must pay to have it taken away. The war and Iran’s attacks on Gulf energy producers have halted 20 per cent of global liquefied natural gas (LNG) supply. Qatari LNG facilities have been damaged, and tankers have been unable to sail through the Strait of Hormuz waterway at the Gulf’s entry because of Iranian threats to fire on them. The crisis has exposed a major split in the global gas market: Import-dependent countries across Europe and Asia are scrambling for scarce supplies, but the US — the world’s largest gas producer, consumer and exporter — remains awash in fuel, with prices near 17-month lows. But US pipelines are full and LNG export plants are at capacity, so that cheap US gas cannot reach overseas buyers, creating a bifurcation much more stark than in the oil markets. Since the war began on February 28, gas futures at the US Henry Hub benchma...
Across much of India, an energy crunch caused by the Iran war has prompted long queues for cooking gas cylinders. That’s not a problem for Gauri Devi. On a stove with blue flames, she flips a chapati flatbread, burning biogas produced from cow dung — an alternative fuel helping ease pressure on supplies. This photograph taken on April 24, 2026 shows villager Gauri Devi cooking using biogas at her residence in Uttar Pradesh’s Bulandshahr district. —AFP “It cooks everything,” the 25-year-old said in her courtyard kitchen in Nekpur, a village in Uttar Pradesh, about 90 kilometres (55 miles) from New Delhi. “If the pressure goes down, we let it rest for half an hour and it works again.” India consumes more than 30 million tonnes of liquefied petroleum gas (LPG) annually, importing over half its needs. The government insists there is no shortage of cooking gas, but supply delays, panic buying and black marketeers have created long queues for cylinders. This photograph taken on April 24, 2026 shows people waiting w...10706 items