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News Topical, Digital Desk : The Iran war is currently slashing demand for natural gas as governments implement measures to mitigate the crisis. If the conflict continues, it could become structural, the head of the Forum of Gas Exporting Countries said on Wednesday.
How much damage to the world?
Countries dependent on Gulf supplies have turned to coal burning and are rapidly moving towards alternative energy sources. Speaking at the African Energy Investment Conference in Paris, Philip Mshelabila, Secretary General of Kepler, an organization representing countries with 70 percent of Africa's gas reserves, said, “If the Iran war ends today, the world will return to pre-war conditions within six months to a year. But if this war lasts for six months, the changes we are seeing could become permanent.”
He said that 2026 was going to be a significant year for the gas sector, with global gas supply expected to exceed demand, and everyone would benefit. However, the war's back and forth changed the situation, and this situation will not return for a long time.
Children's toys also became expensive
The Iran war has affected most consumer goods, driving up their prices. Children's toys like Snuggle Gloves, Busykins, and Wobblies have also seen their prices rise. Soft ties and other products made from acrylic and polyester, synthetic fibers derived from petroleum products, have also become more expensive.
These toys and products are manufactured in many countries around the world, including the United States, China, and India. Since US and Israeli attacks have damaged Iranian oil and gas plants, and Iran's attacks have caused significant damage to oil installations in several West Asian countries.
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