Energy disruptions from the Iran war strain Gulf oil and gas exporters, while importers like Egypt and Jordan face higher commodity prices and reduced remittances from Gulf workers, worsening economic pressures across the region, said the International Monetary Fund (IMF).
Japan has instructed a national oil reserve storage site to prepare for a possible crude release after the Iran crisis disrupted Middle East supplies. Japan imports about 95 per cent of its crude from the region, much via the Strait of Hormuz.
