Natural gas

Oil prices rose more than 4% after Yemen's Iran-backed Houthis fired missiles at Saudi Arabia and diplomatic talks between the US and Iran showed little sign of progress.

Under the new arrangement, Jordan will import liquefied natural gas and regasify it using existing infrastructure at the Aqaba Port, before transporting the product to Lebanon through Syria.

Although 14 to 15 million barrels of oil passed through Hormuz per day before the war, an expert told the Post that it was entirely possible to manage without much of that supply.

The smaller resource base has pushed both countries to lean harder into non-oil sectors such as finance, logistics, and tourism.

A statement from Egypt's petroleum ministry confirmed a fire at the port but made no mention of a drone attack and did not provide a cause for the incident.

Of the ships passing through, 20 ships entered the strait while 17 ships exited, according to ship-tracking data from analytics firm Kpler.

Once completed, it will have an annual capacity of 30 billion cubic meters of natural gas, with about half of that designated for export to Europe via an existing connection to Spain.

The new gas exploration process comes alongside plans for a 150km. electricity cable linking southern and central Israel.

The most serious finding concerned natural gas, which provides about 70% of Israel’s electricity.

Chevron Studio Israel will fund and mentor early-stage technologies from Israeli universities and research institutions, with a focus on AI, cybersecurity, hydrogen, and lower-carbon energy solutions.