Middle East war: global economic fallout'Diesel run out and gasoline run out' reads a sign at a gas station in Vientiane in Laos on March 10, 2026. (Photo: AFP)PARIS — Here are the latest economic events in the Middle East war on Wednesday:G7 eyes oil reservesEnergy ministers of the Group of Seven (G7) said they "stand ready" to take "all necessary measures" in coordination with the International Energy Agency (IEA) to tackle the rise in crude oil prices due to the Middle East war. The IEA has proposed its largest ever release of oil reserves to counter soaring crude prices driven by the war, the Wall Street Journal reported on Tuesday, prompting oil prices to stabilise. India tightens gas controlsIndia ordered tighter controls over natural and cooking gas following import disruptions, with restaurants warning the war could spark widespread closures. The world's most populous nation is the fourth largest liquefied natural gas buyer and second-largest buyer of liquefied petroleum gas used for cooking -- much of which is sourced from the Middle East.

Source: Bangkok Post March 11, 2026 15:10 UTC