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- Nations across the world are taking steps to mitigate the impact of oil price spikes.
- These include flexible working arrangements and reducing non-essential journeys.
- Countries heavily reliant on Middle Eastern oil are particularly vulnerable to the war’s impact.
Governments around the world are urging people to cut back on energy use amid surging oil prices.
Brent crude, the global benchmark, has climbed above $100 a barrel for the first time since 2022 and has held there for nearly two weeks.
The spike follows violent attacks on ships in the Strait of Hormuz since the outbreak of the Iran war and strikes on gas-related infrastructure, raising fears of prolonged disruptions to a route that carries roughly 20% of the world’s supply chain.
In response, countries are rolling out measures to conserve fuel and protect domestic supplies. Thailand, for example, has said it will halt fuel exports to maintain its own energy demands, while other countries are asking citizens to pare back their consumption.
Here are some of the steps governments and international organizations are telling people to take.
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