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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 12, 2026, the Strait of Hormuz remains effectively closed due to escalating conflict involving the US, Israel, and Iran. Iranian missile and drone attacks, alongside US and Israeli strikes, have halted tanker traffic through this vital waterway, which carries about 20% of global oil. Oil prices have surged to near $120 per barrel, insurance costs have soared, and global shipping disruptions persist.
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As of March 12, 2026, Iran has claimed responsibility for attacks disrupting oil shipments through the Strait of Hormuz, a critical route for 20% of global oil. This has driven oil prices near $100 per barrel, pushing US gas prices above $3 per gallon nationwide for the first time since 2023. The US and allies face supply constraints amid ongoing conflict and strategic reserve releases.
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Iranian drones attacked QatarEnergy facilities in Ras Laffan and Mesaieed, prompting Qatar to declare force majeure and halt LNG production. The attacks caused a sharp rise in global gas prices, affecting European and Asian markets. No casualties reported, but regional tensions escalate.
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Recent Iranian drone attacks on Qatar's gas sites and Saudi infrastructure have disrupted energy supplies, causing a surge in natural gas and oil prices. Despite a global supply surplus, geopolitical tensions threaten to prolong market volatility and impact household energy costs.
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Tensions in the Middle East, including attacks on Qatar's LNG facilities and threats in the Strait of Hormuz, have caused a surge in global energy prices. Oil and gas markets are volatile, with prices rising sharply amid fears of prolonged disruptions, impacting global markets and supply security.
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As of March 12, 2026, Iran's Revolutionary Guard Corps claims full control over the Strait of Hormuz, a vital chokepoint for about 20% of global oil supply. Multiple attacks on commercial vessels have escalated tensions following U.S. and Israeli strikes on Iran. Oil prices surged above $100 a barrel despite a historic global release of reserves. The U.S. considers naval escorts to ensure safe passage.
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Amid ongoing US-Israeli military actions against Iran, the Strait of Hormuz remains closed, causing oil prices to spike over 9% to nearly $100 a barrel. The US denies escorting vessels, while Iran warns of further disruptions, raising fears of a potential $200 barrel price. The global oil market faces historic instability.
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Iran's leadership has issued conflicting statements regarding recent attacks on Gulf countries. While some officials deny involvement and apologize, others emphasize Iran's right to respond to US and Israeli strikes. The situation remains tense as attacks continue across the region, with Iran targeting US military bases but also damaging civilian sites.