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NatWest has relaxed its fossil fuel financing restrictions, removing bans on renewing oil and gas loans and dealings with non-transition aligned companies. The move reflects shifting priorities amid energy security concerns, despite criticism from sustainability advocates. The bank aims to halve its climate impact by 2030.
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As of March 2, 2026, oil prices have surged sharply following US-Israeli strikes on Iran and escalating attacks near the Strait of Hormuz, a critical oil transit chokepoint. Tanker traffic has sharply declined amid electronic disruptions and attacks, raising fears of prolonged supply interruptions. Brent crude neared $80 per barrel, with analysts warning prices could exceed $100 if flows remain blocked, impacting global fuel costs and inflation.
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QatarEnergy has halted LNG production after Iranian drone attacks on key facilities, causing European gas prices to jump nearly 50%. The attacks targeted Ras Laffan and Mesaieed, with no casualties reported. The incident heightens regional tensions amid Iran's retaliatory strikes and broader Middle East instability.