The Economic Times

Asia feels the heat: Iran energy shock turns into full-blown crisis across region - here's the breakdown

The Asia energy crisis is escalating fast, with oil prices crossing $106 per barrel and LNG rates jumping 143% in weeks. This sharp surge is disrupting supply chains across Asia. Factories are slowing down. Some are cutting output by up to 70%. The Asia energy crisis 2026 is now hitting daily essentials. Food packaging, plastics, and fuel costs are rising together. Consumers are already paying more. Many are stockpiling basic goods. The Strait of Hormuz disruption is choking global energy flows. Asia, heavily dependent on imports, is feeling the worst impact.