The world’s largest oil supply disruption The global fuel crisis is now entering its eighth month, with little indication that the disruption to international oil and refined-fuel markets will be resolved in the near future. The International Energy Agency (IEA) has described the Middle East conflict as creating the largest Read more
The current fuel crisis should now be treated as both a financial risk and a service continuity risk. Councils cannot assume that higher petrol and diesel prices will simply be absorbed within existing operating budgets. Nor should they assume that fuel will always be available in the quantities required. The Read more
The global fuel crisis has entered another concerning phase. After falling below US$100 per barrel during the middle of the year, oil prices have risen sharply again. Brent crude is now trading above US$100 per barrel as continuing conflict in the Middle East, disruption to critical shipping routes and damage Read more
Current Position Last week’s assessment described the Strait of Hormuz as “operationally constrained rather than securely open.” That description now needs to be extended, because a second chokepoint has entered the picture. On 20 July, Yemen’s Houthi movement announced a maritime blockade of Saudi Arabia, targeting the Bab el-Mandeb Strait Read more
Current Position The fuel crisis arising from the Iran conflict has eased from its initial peak, but it has not been resolved. The Strait of Hormuz remains physically navigable (depending on the time of day) although tanker movements are substantially below normal levels and subject to competing claims of control, Read more
The COVID-19 pandemic fundamentally changed the way societies think about health security, remote work, supply chains and government intervention. In a similar way, the Iran conflict and resulting oil shock may become one of those defining geopolitical and economic moments where governments, businesses and communities conclude that some assumptions about Read more
The economic effects of the Iran conflict are likely to be felt for years as damaged oil and gas infrastructure is repaired and global supply chains stabilise. Fuel prices are expected to remain elevated while supply remains constrained and markets continue to price in geopolitical risk. Until supply conditions normalise, Read more
Briefing Note Purpose The purpose of this briefing note is to inform Council executives of the emerging financial, operational and reputational risks associated with continued procurement of internal combustion engine (ICE) fleet assets in the context of declared emissions targets (particularly 2030), and to outline recommended strategic responses. Councils Leading Read more
The current fuel crisis, driven by global conflict, has significantly accelerated interest, enquiries and demand for electric vehicles (EVs), acting as a catalyst that has brought consumer interest to a “tipping point”. As petrol and diesel prices spike (seeing diesel surpass $3.00 a litre), consumers are rapidly pivoting towards EVs Read more
Australia relies on a relatively small number of regional partners to meet most of its refined fuel needs, while those same partners depend on Australia for a significant portion of their LNG supply. This mutual dependence strengthens trade relationships but also highlights the interconnected nature of regional energy security, particularly Read more