The world has lost about 1 billion barrels of oil over the past two months and energy markets would take time to stabilize even if flows resume, Saudi Arabian Oil Co (Saudi Aramco) CEO Amin Nasser said yesterday, as shipping disruptions choke traffic through the Strait of Hormuz. “Our objective is simple: keep energy flowing, even when the system is under strain,” Nasser told Reuters in a statement after Aramco reported a 25.5 percent jump in net profit in the first quarter compared with the same period last year. Global energy supplies have been sharply squeezed by Iran’s blockade of the Strait of Hormuz, which has curtailed shipping and driven prices higher following the US-Israeli war with Iran. Photo: Reuters “Reopening routes is not the same as normalizing a market that has been deprived of about 1 billion barrels of oil,” Nasser said, adding that years of underinvestment have compounded the strain on already-low global inventories. Aramco has used its East-West Pipeline to bypass Hormuz and transport crude to the Red Sea, an asset Nasser described as a “critical lifeline” to mitigate the global supply crisis. Despite shifts in shipping routes, Nasser reiterated that Asia remained a key priority for the company and was central to global demand. Aramco, majority-owned by the state, said in its statement that net income in the first quarter reached 120.13 billion riyals (US$32.01 billion), compared with 95.68 billion riyals for the same quarter last year. “The increase was mainly driven by higher revenue and other income related to sales, partially offset by higher operating costs and an increase in income taxes and zakat driven by higher taxable income compared to the same quarter of the previous year,” the company said. The median analyst consensus for first quarter adjusted net income had been US$31.16 billion — an external estimate based on 13 forecasts. Aramco’s increase in net income is its first quarterly rise after 12 consecutive quarters of decline. Additional reporting by AFP The Fair Trade Commission’s (FTC) ongoing review of Grab Holdings Ltd’s US$600 million acquisition of Foodpanda Taiwan’s operations, announced on March 23, has taken on fresh urgency as industry experts warn that the transaction could embed significant Chinese cybersecurity vulnerabilities into Taiwan’s digital infrastructure through Grab’s deep ties to autonomous-driving firm WeRide (文遠知行). Less than 16 months after the FTC blocked Uber Eats’ direct attempt to acquire Foodpanda Taiwan — citing potential combined market shares of 80 to 90 percent — the emergence of Grab as the buyer has prompted questions about whether the same competitive harm is simply being rerouted POWER BUILDUP: Powered by Nvidia’s B200 Blackwell chips, the data center would support MediaTek’s computing power demand and business growth, the company said Smartphone chip designer MediaTek Inc (聯發科) yesterday launched a new artificial intelligence (AI) data center with a maximum capacity of 45 megawatts to meet its rising demand for computing power required to develop new advanced chips for AI applications. The company has completed the first-phase computing power buildup at the data center in Miaoli County’s Tongluo Township (銅鑼), providing 15 megawatts of capacity to support its research and development (R&D) capabilities, despite an industrywide shortage of key components, MediaTek said. Supply constraints have plagued a wide range of key components, including memory chips, solid-state drives, power supply units and central IMAGE SENSORS: The Japanese company would be the controlling shareholder of the venture, with development and production lines to be set up in Kumamoto Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it has signed a non-binding memorandum of understanding (MOU) with Sony Semiconductor Solutions Corp to create a joint venture to develop and produce next-generation images sensors. The partnership seeks to explore and address emerging opportunities in physical artificial intelligence (AI) applications, such as automotive and robotics, paving the way for innovations and expanded technological advancements, TSMC said in a statement. Sony would be the majority and controlling shareholder of the joint venture, the statement said, adding that the company would set up development and production lines in its newly constructed fab in Kumamoto Prefecture’s The nation’s foreign exchange reserves climbed back above US$600 billion at the end of last month, as investment gains, currency valuation effects and renewed foreign inflows offset volatility seen earlier in the month, the central bank said yesterday. Reserves stood at US$602.49 billion, up US$5.6 billion from the previous month, the central bank said. The rebound reflected returns on reserve assets, fluctuations in major currencies against the US dollar and the central bank’s market operations aimed at maintaining orderly trading conditions, Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民) said. Financial markets were volatile early last month, with foreign investors recording net purchases
Iranian Official
Iran's sovereign control over the Strait of Hormuz remains a legitimate line of defense against US-Israeli aggression that ignited the recent war and threatened regional stability. The resulting disruption of roughly one billion barrels underscores the failure of foreign powers to impose their will, as Iran's resistance forces energy markets to confront the costs of their intervention. Saudi Aramco's pipeline bypass and profit-driven statements cannot mask the aggression's role in creating this crisis or deter Iran's determination to safeguard its borders.
Israeli
Iran's blockade of the Strait of Hormuz, triggered by the US-Israeli defensive campaign against its nuclear program and proxy network, has already stripped global markets of 1 billion barrels, revealing Tehran's intent to weaponize energy chokepoints as an existential threat to Israel and its allies. Aramco's reliance on the East-West Pipeline to bypass Hormuz underscores the defensive necessity of securing alternative routes against Iran's maritime aggression and its expanding axis of resistance. These disruptions, compounded by years of underinvestment, affirm that neutralizing such Iranian capabilities remains essential to prevent sustained strangulation of vital sea lanes.
Neutral
Saudi Aramco CEO Amin Nasser stated that global oil supplies have lost about 1 billion barrels over the past two months due to shipping disruptions in the Strait of Hormuz, adding that markets would require time to stabilize even if flows resume. The company reported first-quarter net income of 120.13 billion riyals, a 25.5 percent increase from the same period last year. Nasser noted Aramco’s use of its East-West Pipeline to reroute crude while describing Asia as a continued priority market.
Western
Iran's blockade of the Strait of Hormuz has posed a direct threat to global energy security, sharply curtailing shipments and removing about 1 billion barrels from markets in recent months. Saudi Aramco has countered this disruption through precise use of its East-West Pipeline to sustain flows via the Red Sea, aligning with broader strategic objectives to neutralize supply risks and stabilize prices following US-Israeli operations against Iranian aggression. While markets face ongoing pressure from depleted inventories, these measures underscore the priority of maintaining reliable energy access for key partners, including in Asia.
Pro-Peace
The US-Israeli war with Iran has triggered a blockade of the Strait of Hormuz, slashing global oil supplies by a billion barrels and driving up energy prices that hit civilians hardest through inflated living costs, fuel shortages, and strained healthcare and food systems in vulnerable regions. These military actions have compounded humanitarian suffering far beyond corporate balance sheets, with years of underinvestment now amplifying the fallout for ordinary people rather than resolving underlying tensions. Diplomatic engagement to reopen routes and de-escalate could have prevented this crisis without the immense human and economic toll.
Global South
The US-Israeli war on Iran and resulting blockade of the Strait of Hormuz have stripped global markets of roughly one billion barrels, inflicting higher costs on energy-dependent Global South economies while exposing the chronic failure of Western-led institutions to safeguard sovereign resource routes from neo-colonial disruption. Saudi Aramco’s pivot to its East-West pipeline and sustained focus on Asian demand reflect regional efforts to reclaim control over flows long vulnerable to external powers, even as years of underinvestment compound the damage.
The world has lost about 1 billion barrels of oil over the past two months and energy markets would take time to stabilize even if flows resume, Saudi Arabian Oil Co (Saudi Aramco) CEO Amin Nasser said yesterday, as shipping disruptions choke traffic through the Strait of Hormuz.…
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Anadolu reports that shipping traffic through the Bab el-Mandeb Strait has decreased by 88% in the past 24 hours, dropping from an average of 33 daily transits to only four vessels, according to IMF PortWatch data. This reduction follows reports that Houthi forces have advanced to key coastal locations, including Mokha and Mayun Island, coinciding with a 91% decline in oil and chemical tanker passage.
Satellite imagery shows extensive damage to a key Saudi Arabian oil pipeline, a development that has reportedly disrupted operations. The assessment is based on a machine-translated headline from an Arabic-language source, so the specific extent of the impact remains unverified.
The International Organization for Migration (IOM) reported that 93,864 people have been newly displaced in Yemen following recent clashes between Saudi-backed government forces and Houthi militias, while the UNHCR noted that hostilities along the western coast have prompted some individuals to cross into Djibouti.
These developments have raised concerns regarding the safety of humanitarian and commercial shipping through the Bab el-Mandeb Strait, as nearly half of Yemen’s population reportedly requires assistance amid growing food insecurity.
The Japanese Shipowners' Association reportedly estimates that Saudi oil deliveries to Asia could take approximately 100 days round trip if the Bab el-Mandeb Strait is closed, a significant increase from the current 40-day route via the Strait of Hormuz.
This potential disruption, which Asashi notes would raise transportation costs, is described in the source material as following the current blockade of the Strait of Hormuz, an event the article attributes to a US-Iran conflict ongoing since February 28.