SnS JRNL

Aramco sees 'catastrophic consequences' for oil if shipping doesn't resume in Strait of Hormuz

By Maha El Dahan and Yousef Saba

A satellite image shows smoke rising in the Ras Tanura oil refinery in Saudi Arabia after a drone attack, in Ras Tanura, Saudi Arabia, March 2. via Vantor

FILE PHOTO: Aramco's oil field in the Empty Quarter, Shaybah, Saudi Arabia, January 12, 2024. REUTERS/Hamad I Mohammed/File Photo

Aramco's President and CEO Amin Nasser attends the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 20, 2026. REUTERS/Denis Balibouse

A satellite image shows fire in the Ras Tanura oil refinery in Saudi Arabia after a drone attack

DUBAI, March 10 (Reuters) - Saudi Arabia's Aramco, the world's top oil exporter, said on ‌Tuesday that there would be "catastrophic consequences" for the world's oil ‌markets if the Iran war continues to disrupt shipping in the Strait of Hormuz.

The disruption has not only upended the shipping and insurance sectors but also promises to have drastic domino effects on aviation, agriculture, automotive and other industries, Aramco CEO Amin Nasser told reporters on an earnings call.

Nasser noted ‌global inventories of oil were ⁠at a five-year low and said the crisis will lead to drawdowns at a faster rate, adding that ⁠it was critical that shipping in the strait resumed.

"There would be catastrophic consequences for the world's oil markets and the longer the disruption goes on, and the more drastic the consequences for the global economy," he said.

Nasser ‌also said a small fire from an attack last week on Aramco's Ras Tanura refinery, its largest domestically, was quickly extinguished and brought under control, adding that the refinery was in the process of being restarted.

Iran's Revolutionary Guards said on Tuesday they would not allow "one litre ‌of oil" to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting a warning from President Donald Trump that the U.S. would hit ‌Iran much harder if it blocked exports from the vital energy-producing region.

His comments come after Aramco reported a 12% drop in annual profit mainly due to lower crude prices. It also announced it would ‌repurchase up to $3 billion worth of shares in its first-ever buyback.

(Reporting by Yousef Saba and Maha El Dahan; Writing by Nadine Awadalla; Editing by Edwina Gibbs)

byAdministrator

in

March 10, 2026

Aramco sees 'catastrophic consequences' for oil if shipping doesn't resume in Strait of Hormuz

By Maha El Dahan and Yousef Saba A satellite image shows fire in the Ras Tanura oil refinery in Saudi Arabia ...

Thailand orders bureaucrats to use stairs and work from home in energy saving drive

BANGKOK, March 10 (Reuters) - Thai Prime Minister Anutin Charnvirakul has ordered civil servants to conserve energy amid an energy squeeze brought on ‌by the conflict in the Middle East, a government spokesperson ‌said on Tuesday, with measures including suspending overseas trips and using stairs instead of elevators.

"The prime minister ordered that starting from today civil servants will work from home," spokesperson Lalida Periswiwatana told reporters, adding that exceptions would be made for officials who must serve the public.

Southeast Asia's second-largest economy has around 95 days of energy ‌reserves left, and it ⁠has been seeking additional sources of liquefied natural gas from the United States, Australia and South Africa, according to Energy ⁠Minister Auttapol Rerkpiboon.

But it is urgently trying to reduce demand. Lalida said other government measures to conserve energy include setting air conditioning temperatures at 26 to 27 degrees Celsius (78.8 to 80.6 Fahrenheit) and wearing short-sleeved shirts instead of formal attire ‌like suits and ties.

Nearly 68% of Thailand's energy needs are met from natural gas. Over half of its liquefied natural gas is sourced from domestic production in the Gulf of Thailand, while 35% comes from imports, including 13% from neighbouring Myanmar, according to the country's Energy Regulatory Commission.

Earlier this month, Thailand also ‌halted energy exports to all countries other than Laos and Myanmar.

Government officials have been ordered to reduce electricity use at office buildings by switching off lights and electrical equipment ‌when not needed, Lalida said. The government will also ask the public to cooperate and encourage energy saving measures such as carpooling.

"If the situation escalates, the government may consider mandatory measures including dimming advertising signs at ‌shops, cinemas and businesses and closing gas stations at 10 p.m.," the government also said in a statement.

(Reporting by Panarat Thepgumpanat and Chayut Setboonsarng, Editing by David Stanway)

byAdministrator

in

March 10, 2026

Thailand orders bureaucrats to use stairs and work from home in energy saving drive

BANGKOK, March 10 (Reuters) - Thai Prime Minister Anutin Charnvirakul has ordered civil servants to conserve energy amid ...

Oil Prices Top $100 A Barrel For First Time Since 2022

President Donald Trump says surging gasoline prices are a "very small price to pay" as theIran warroils global energy markets, sending crude oil prices surging above $100 a barrel for the first time since Russia's 2022 invasion of Ukraine.

The conflict has severely disrupted oil flows through theStrait of Hormuz, a key global trade route, increasing prices at theU.S. gas pumpand threatening to undercut Trump'seconomic agendaahead of the November midterms.

Read More:Gas Prices Surge in U.S. as Iran War Chokes Global Oil Supply. What You Need To Know

The President on Sunday dismissed concerns over rising crude prices as a temporary blip.

"Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace," President Donald Trumppostedon Truth Social on Sunday evening. "ONLY FOOLS WOULD THINK DIFFERENTLY!"

Energy Secretary Chris Wright also appeared eager to reassure Americans that prices will soon fall. "Energy will flow soon," Wright toldFox Newson Sunday. "The unknown that this could be some long, you know, drawn-out crisis [has driven up prices]. But it won't be."

Still, even if the conflict suddenly de-escalated, Antonia Syn, a gas and LNG analyst at energy research firm Rystad Energy, tells TIME that gas prices would likely take some time to return to normal levels as markets would need to watch for confirmation that production and shipping has safely resumed. And if the war leaves "lingering uncertainty around regional security," that could lead to persistent geopolitical risk premiums, Syn says, meaning higher prices for some time.

Oil shipping halted

Of the wave ofretaliatory attacksthat Iran has launched across the Middle East, its effective closure of the Strait of Hormuz—threatening to fireon any ship trying to pass—is a powerful weapon.

Shipping through the strait, a narrow waterway through which a fifth of the world's oil supply passes, has all but ground to a halt. The strait is the only sea passage from the Persian Gulf to the open ocean.

Since the U.S.-Israeli strikes on Feb. 28, merchant ships passing through the straithave been attacked, while broader aerial attacks traded between the U.S., Israel and Iran also pose a threat to vessels passing through. Iran-linked vessels have been the only commercial ships that have transited through the strait over the weekend, according toBloomberg. The last non-Iranian commercial ship to pass through Hormuz was a Chinese-owned bulk carrier on Saturday morning.

"In the whole written history of the strait, it has never been closed, ever," JPMorgan Chase analyst Natasha Kaneva told theWall Street Journal. "To me, it was not just the worst-case scenario. It was an unthinkable scenario."

Last June during the12-day war between Israel and Iran, Iran had also threatened to close the strait in retaliation for U.S.-Israeli attacks on its nuclear facilities. At the time, Peter McNally, Global Sector Lead at research firm Third Bridge, told TIME, "The world cannot replace all the oil that flows through the Strait of Hormuz, which remains the most critical chokepoint in global crude markets."

More than 14 million barrels of crude flowed through the strait per day before its closure. Saudi Arabia hasdiverted shipments of oilto the Red Sea at record levels, although that route could also face challenges from potential attacks by the Iran-aligned Houthis in Yemen, who have targeted vessels in the area since 2023 to protest Israel's bombardment of Gaza.

Oil refineries attacked, output reduced

With the strait effectively closed, some oil refiners are scaling back operations. Kuwait, the United Arab Emirates, and Iraq have reduced crude output as storage tanks have filled with backed up crude.

High gas price rises may not be as temporary as Trump and Administration officials have assured Americans they will be. Oil market analysts havesuggestedthat even if the war ended today, it could take two weeks to restore maritime traffic in the Gulf to pre-war levels and two months to return oil production to normal levels.

Energy production facilities in the Middle East have also faced attacks, directly threatening the supply of crude. Oil refineries in Saudi Arabia, Qatar, Bahrain and Kuwait have blamed Iran for strikes in the last week. On Saturday, Israelcarried out strikeson four oil storage facilities and an oil production transfer center in Iran, according to Iranian state media. Iran exports an average of 1.6 million barrels of crude per day, less than many of its neighboring Gulf states.

On Sunday, the Iranian Revolutionary Guard Corps threatened retaliatory attacks on energy sites across the region. "If you can tolerate oil at more than $200 per barrel, continue this game," the IRGC warned the U.S. and Israel.

Some analysts foresee this war being more disruptive to global energy systems than the outset of Russia's war with Ukraine in 2022, when oil prices hit an even higher peak. "The scale of today's disruption in the Persian Gulf already is far greater than what was seen in 2022, and the implications are likely to be felt more widely than in the past," McNally says. Muyu Xu, a senior crude oil analyst at global trade analytics firm Kpler, tells TIME that further escalation in the Middle East could push prices beyond those historical highs, especially if major oilfields in the region come under attack. Still, Xu adds that de-escalation and a quick reopening of the Strait of Hormuz could bring prices down quickly, even if not immediately to pre-conflict levels.

Qatar's Minister of Energy Saad al-Kaabi toldtheFinancial Timeson Friday that Gulf producers will be forced to stop exports "within days," which would drive oil prices even higher. "Everybody that has not called for force majeure we expect will do so in the next few days that this continues," Al-Kaabi said.

On Monday, afterIran announced its new Supreme Leader, Bahrain's state oil companydeclared force majeure, which releases it of its contractual obligations due to extraordinary circumstances.

QatarEnergy, which is among the world's largest LNG suppliers, alsopartially halted productionafter one of its complexes was hit by drone strikes on March 2. "Even a short disruption removes meaningful volumes from the global balance," Syn says. "Rebalancing this loss would likely require some degree of demand destruction in price-sensitive importing countries. A closure lasting longer than two months would likely force much deeper adjustments across global energy systems."

That loss acutely impacts South Asian countries, including Pakistan, India, and Bangladesh, which depend heavily on Middle Eastern supplies, Syn adds.

And although China waspreviously better ableto weather energy disruptions in the region, includingreceiving assurancesfrom the Houthis in 2024 that they would not target Chinese vessels in the Red Sea, Beijing appears just as rattled as the rest of the world. The Chinese government directed its oil refiners topausefuel exports last week, instead prioritizing domestic needs amid fears of a deepening global energy crisis.

Oil prices surge

Already surging oil prices across the U.S. could rise even higher, according to Patrick De Haan, a petroleum analyst. A second wave of price increases is expected in several Republican states that use price cycling systems, De Haan said, like Michigan, Indiana, Ohio, Kentucky, Texas, and Florida.

Despite assurances from the Trump Administration that the war will end within weeks, thewidening conflict,skepticism over the U.S.'s plan, and Iran's apparent unwillingness tonegotiate a cease-firehave "forced traders to price in the possibility of a wider conflict," De Haan wrote in aposton X.

Read More:How Americans Feel About Trump's War With Iran, According to the Latest Polls

White House spokesperson Taylor Rogers previously told TIME that Trump has "a strong game plan to keep the energy market stable well before Operation Epic Fury began, and they will continue to review all credible options and execute on them when appropriate."

Trump isreportedlyweighing easing sanctions on Russian oil.

But McNally tells TIME that there are few alternatives to the Middle East for oil. U.S. oil production has largely flattened out, he says, in part because producers expected an oversupply of oil this year before conflict broke out. He estimates that it would take months to reup production levels, which they will almost certainly aim to do given high prices now. The world may also turn to South America, where Guyana, Brazil, and Argentina are producing just under six million barrels of oil per day at maximum capacity, McNally says. That's just a quarter of the amount that OPEC producers supply. The U.S. has also sought to increase oil production from Venezuela, but McNally says it will take years for the country to supply a meaningful amount of oil after years of deterioration of its oil industry.

The U.S. may also consider releasing strategic reserves of oil, which it did in 2022, McNally says. But U.S. stockpiles are nearly 30% below early 2022 levels, he cautions.

Volatility in energy markets is also rippling through financial markets and rattling investors. As crude prices surged, equity markets across Asia and therest of the worldslumped, with South Korea's Kospi and Japan's Nikkei benchmarkssliding sharplyon Monday.

If supply disruptions around the Gulf drag on, the current surge in oil prices may prove more enduring than the spike that followed Russia's invasion of Ukraine. Energy analysts say prolonged turmoil could amount to one of the most severe sustained energy crisessince the 1970s, when Arab oil embargoes and the 1979 Iranian Revolution choked off global exports, sent crude prices soaring, and tipped Western economies into recession.

Contact usatletters@time.com.

byAdministrator

in

March 10, 2026

Oil Prices Top $100 A Barrel For First Time Since 2022

President Donald Trump says surging gasoline prices are a "very small price to pay" as theIran warroils global...

Conan O'Brien Told Stephen Colbert What Could Happen After Talk Show Ends

Conan O'Brienis back in the late-night talk show business conversation afterStephen Colbertshared a private piece of advice. "There's a lot of fun to be had when this is over," O'Brien reportedly told him. O' Brien is referred to as "the patron saint of ex-talk show hosts" byColbert. The late-night veteran was not trying to push Colbert out. Instead, he was describing life after a talk show, from new projects to more freedom, as the format faces fresh pressure across TV.

Stephen Colbert says Conan O'Brien urging him to 'quit' talk show was actually 'kind'

According to The Hollywood Reportercover storydated March 9, 2026, Stephen Colbert recalled a conversation from "a few Emmys ago." Colbert said Conan O'Brien had been telling him "to quit for years." Then he quoted the advice directly. O'Brien told him, "I want you to know there's a lot of fun to be had when this is over, so don't feel like you need to stay." Colbert said, "It almost hurt my feelings, but he was just being kind."

Meanwhile, the context behind that exchange wasConan O'Brien's own exit from late-night in 2021. He retired from the format while it was in dramatic free fall. Since then, the former "Late Night," "The Tonight Show," and "Conan" host built a hit podcast, landed a $150 million SiriusXM deal, and fronted the Emmy-winning travel series "Conan O'Brien Must Go." That is why his take carries weight. He is not theorizing about life after a talk show. He already rebuilt one and was living it.

However, the same report showed why O'Brien's advice matters more now. The Hollywood Reporter said CBS announced in July that it was canceling "The Late Show with Stephen Colbert," calling it "purely a financial decision." But netizens connected it to an earlier Colbert criticism ofPresident Donald Trump.

Then it noted wider late-night pressure, including Disney briefly pulling "Jimmy Kimmel Live!" in September before restoring it. Although Conan's approach to hosting was never political, he still said, "I'm of the mind that yes, these shows are going away and will become something else." Even so, he added, "I don't like when other malign forces intervene, because they're trying to curry favor. That pisses me off."

The postConan O'Brien Told Stephen Colbert What Could Happen After Talk Show Endsappeared first onReality Tea.

byAdministrator

in

March 10, 2026

Conan O’Brien Told Stephen Colbert What Could Happen After Talk Show Ends

Conan O'Brienis back in the late-night talk show business conversation afterStephen Colbertshared a private piece of advice. "Ther...

Taylor Swift Left Hanging Over 'The Life of a Showgirl' Trademark

Taylor Swift's legal process behind the branding has reportedly hit a small obstacle. Federal records show that the United States Patent and Trademark Office has paused a trademark application linked to Swift's phrase "The Life of a Showgirl." The filing was submitted by the singer's company, TAS Rights Management LLC.

Taylor Swift facing roadblock over 'The Life of a Showgirl' trademark is temporary

The pause in Taylor Swift's federal application process does not mean the trademark request for the phrase "The Life of a Showgirl" has been denied. Instead, the United States Patent and Trademark Office (USPTO) placed the application on hold while it evaluates two earlier marks that could potentially conflict with Swift's proposed title.

One of the marks prompting the delay is "Confessions of a Showgirl," a phrase registered in 2015 by Las Vegas performer Maren Wade. According toUSA Today, Wade originally filed the application in 2014. The USPTO later granted federal protection for the title in connection with entertainment services, including live performances, stage productions, television programming, and digital publications such as blogs and e-zines.

Because both Wade's trademark and Swift's proposed title use the phrase "of a showgirl," trademark examiners believe people might think the two brands are connected. This could cause confusion about whether they come from the same source.

A second factor affecting Swift's filing involves a separate trademark application for the single word "Showgirl." In December 2024, Harlem Brands Inc. applied to register "Showgirl" for a line of perfumes and related fragrance products. That application has already progressed through examination and received a Notice of Allowance.

Trademark attorney Josh Gerbenexplained in a recent blog postthat roughly one in five trademark applications encounters a similar outcome of refusal during the review process. "This type of refusal is fairly common. About 20% of all trademarks filed with the USPTO receive a similar refusal," he stated.

"The main point of this argument will be to persuade the USPTO that consumers are unlikely to think that 'Confessions of a Showgirl' and 'The Life of a Showgirl' come from the same source," Gerben further wrote. In Swift's case, the attorney noted that the two titles may communicate separate ideas. "Confessions of a Showgirl," he said, reads like "a personal narrative or tell-all account," while "The Life of a Showgirl" suggests "a broader portrayal of the experience itself."

The postTaylor Swift Left Hanging Over 'The Life of a Showgirl' Trademarkappeared first onReality Tea.

byAdministrator

in

March 10, 2026

Taylor Swift Left Hanging Over ‘The Life of a Showgirl’ Trademark

Taylor Swift's legal process behind the branding has reportedly hit a small obstacle. Federal records show that the United States Paten...

Ex-Prince Andrew's House Arrest Comes at a Cost To King Charles — Source

King Charles IIIis reportedly ready to fund living arrangements for his younger brother,Andrew Mountbatten‑Windsor. However, this comes at a cost. Sources claim that the king is ready to provide for the ex‑prince's lavish life but only if he stays out of the public eye. The former Duke of York has been in the limelight lately because of various controversies surrounding him. Now, Andrew will have to be under "house arrest" in exchange for a comfortable lifestyle funded by his brother.

King Charles funding ex-Prince Andrew's lifestyle in exchange for his house arrest, says source

The British monarchy faced a series of challenges after the various controversies surrounding Andrew Mountbatten‑Windsor came to light. This resulted inKing Charlesmaking a decision to strip Andrew of his titles. He even ordered his brother to move out of Royal Lodge along with his ex‑wife, Sarah Ferguson.

The ex‑prince is currently staying at Sandringham Estate. He is expected to move to Marsh Farm once the renovations of the place are done. Earlier reports suggested that the former prince will have only two household staff — a chef and a valet — at Marsh Farm.

As per a newRadarOnlinereport, Charles would provide for his brother's living arrangements. However, this will only happen if he stays isolated. The reports come after Andrew was arrested on suspicion of misconduct in office. While he was released after a few hours, he still remains under investigation.

Marsh Farm, whereAndrewis supposed to live permanently, has been fitted with a lot of security features. A source revealed that this is to make sure that the former duke has minimal public exposure while the investigation continues.

An insider shared, "Effectively, Andrew is now under house arrest and will remain so for the rest of his life, as, in exchange, his brother will fund his comfortable lifestyle." The source added that this is an "unofficial agreement." However, the monarch is clear that if Andrew wants to have the same lifestyle he did before, he will have to stay "locked away."

The postEx-Prince Andrew's House Arrest Comes at a Cost To King Charles — Sourceappeared first onReality Tea.

byAdministrator

in

March 10, 2026

Ex-Prince Andrew’s House Arrest Comes at a Cost To King Charles — Source

King Charles IIIis reportedly ready to fund living arrangements for his younger brother,Andrew Mountbatten‑Windsor. However, this comes at ...

Texas teen mariachi brothers, family released from ICE custody

A South Texas family that includes two teenage mariachi musicians part of an award-winning band was reunited on Monday, March 9, after their case drew widespread criticism from members of Congress and civil rights advocates, officials said.

Antonio Yesayahu Gámez-Cuéllar, 18, and his brother Caleb, 14, along with their 12-year-old brother and parents, were detained on Feb. 25 after they appeared for a scheduled check-in with federal immigration authorities, according to the Mexican American Legislative Caucus. Gámez-Cuéllar was separated from his family, who were detained in a detention center for families in Dilley, while he was held at a Raymondville, Texas, facility about 230 miles away.

The family entered the United States in 2023 through the Biden-eraCBP One appand were awaiting their final asylum hearing that was scheduled for later this year, the Mexican American Legislative Caucus said in anews release. The family had been attending immigration hearings and checking in with immigration authorities, as required, when they were detained.

Study:Deportations from ICE street arrests jump, here's why.

The three brothers were described as "dedicated student mariachi musicians," according to aGoFundMe pagefor the family. Both Gámez-Cuéllar and his brother Caleb are members of the McAllen High SchoolMariachi Oroband, which was invited to Washington, DC, last summer and has won eight state championships.

On March 9, Rep. Joaquin Castro, a Texas Democrat,confirmedthat Gámez-Cuéllar's parents and two brothers were released from the Dilley facility. Gámez-Cuéllar was also released from the detention center in Raymondville, according to U.S. Rep. Monica de la Cruz, a Texas Republican.

"Antonio is going home," De la Cruz said in astatement. "The Gámez-Cuéllar family are valued members of our community. I was honored to stand with Antonio and his fellow mariachis when they visited my office last year, and I am honored to stand with him again."

Trump's second term saw aggressive immigration and trade moves, federal downsizing, and assertive foreign interventions in Venezuela and Iran. President Donald Trump has doubled down on an aggressive immigration agenda, emphasizing record-low levels of illegal border crossings and a sweeping expansion of enforcement. In his February 2026 State of the Union address, Trump highlighted a nine‑month period in which, he claimed, "zero illegal aliens" were admitted into the U.S.—a statement that fact-checkers noted conflated admission with release on parole, though data does show no parole releases during that period.