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Global Business News

The Economic Times

Global Business / The Economic Times

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Oil prices surge from Iran conflict boosts global biofuel demand

Global oil prices are surging due to a war in the Middle East. This is increasing demand for biofuels made from crops. Countries in Asia are boosting biofuel use to reduce reliance on expensive oil imports. While some worry about food prices, experts believe large-scale impact is unlikely. Biofuels offer a partial solution to the energy crisis.

21 Apr 2026 11:38 am