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Fuel prices have soared in Yemen following the Iran war, pushing construction material costs higher and causing mass unemployment among daily wage workers. Projects are stalling across government-controlled areas, and laborers are slashing wages just to find occasional work.
War and financial turmoil are pushing Lebanon’s economy to the brink of collapse, experts warn the country may become economically unviable. The conflict, compounded by a global fuel crisis, has erased modest growth, driven inflation to 18-month highs, and deepened social divisions.
The US Department of Justice is reportedly preparing to indict former Cuban President Raúl Castro, 94, over the 1996 shootdown of planes operated by an exile group, a move that comes amid Cuba's severe fuel crisis and rising bilateral tensions.
President Miguel Diaz-Canel says Cuba is open to humanitarian aid from the United States if it follows international norms, but stresses that lifting the decades-old trade embargo would be the most effective way to ease Cubans' suffering. He made the statement amid a severe fuel crisis that has led to widespread blackouts. The U.S. has offered $100 million in aid, conditioned on reforms.
Small businesses and households in Cuba are grappling with prolonged fuel shortages and blackouts after the U.S. tightened its oil embargo, forcing many shop owners to close or pivot to renewable energy. The private sector faces crippling costs and logistical hurdles, though some see crisis-driven reforms as a silver lining.
UK Transport Secretary Heidi Alexander said part of the solution to the Hormuz Strait crisis is to import more fuel from the U.S. and West Africa, with Nigeria's Dangote refinery emerging as a critical link despite ongoing labor disputes. The refinery, accused of firing over 800 workers for union membership, supplied about 130,000 tons of jet fuel to the UK in March.
Spirit Airlines has canceled all flights and begun an orderly shutdown after a White House rescue plan failed and fuel prices doubled due to the Iran war. The collapse eliminates a 5% share of U.S. domestic capacity and is a political blow to President Trump, who pushed a $500 million bailout. Other carriers, including Lufthansa and Air India, are also cutting flights amid the fuel crisis.
