Energy-hungry Asia is already drawing lessons from Iran crisis

There is still no lasting peace deal in the Persian Gulf, but energy-hungry Asia is already drawing energy lessons from four months of war: it needs bigger buffers, a greater diversity of fossil-fuel suppliers, and a better mix of power sources overall.Flows of oil and natural gas have been returning to normal and prices have tumbled since an interim U.S.-Iran accord was signed last month that pried open the Strait of Hormuz, relieving the immediate sense of crisis.But the consequences of the historic shock still stand to be far-reaching. Policymakers are recalibrating their energy priorities — and nowhere more so than Asia, a key consuming region for Middle Eastern oil and gas.
Information from The Japan Times. Edited by: Noticias Today.
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