The text covers two main stories. First, it introduces the unsolved disappearance of Jacqueline Furlin-Smith, a Canadian who vanished in Costa Rica in 2021. The primary focus, however, is on escalating global oil prices, driven by Iranian attacks on energy sites and commercial vessels in and around the Persian Gulf and the critical Strait of Hormuz. These attacks have halted operations, killed crew members, and created a dangerous environment for maritime workers. The crisis is inadvertently boosting Russia's oil exports to countries like China and India, even as the U.S. considers sanction relief that could further benefit Moscow—a move opposed by European officials. Meanwhile, in Canada, gasoline prices are experiencing short-term fluctuations but are projected to rise due to ongoing supply disruptions linked to the conflict, highlighting the broad economic impact of the regional instability.
Jacqueline Furlin-Smith, a 40-year-old former Canadian military trainer, moves to Costa Rica to follow her dreams, but in the summer of 2021, vanishes without a trace. How can a woman just go missing and us put out all that effort to find her? And she's still missing. I'm David Rigen and this is someone knows something season 10, the Jacqueline Furlin-Smith case. Available now on CBC Listen and Wherever you get your podcasts. From CBC News, The World The Sour, I'm Mike Miles. Global oil prices are rising again, hovering around $100 a barrel. Iranian attacks on energy sites appear to have offset the decision by countries to release huge amounts of oil reserves. Multiple strikes were reported in and around the Persian Gulf overnight. That's an oil tanker crew being rescued after their ship was attacked and caught fire in Iraqi waters. At least one person was killed. The attacks halted oil terminal operations in the southern port of Basra. Elsewhere, British maritime official say a container ship has been hit off the coast of the United Arab Emirates, near the Strait of Formos, and on Bahrain and Oman, crews are fighting to contain fires rather at fuel storage and other energy sites. Iran has been clear it's prepared to use oil as a weapon of war. As attacks increase the industry of Formos, commercial shipping companies and their workers are caught in the crosshairs. Nisha Patel has more on the dangers of navigating the critical maritime route. It's the most dangerous place in the world at the moment. The Strait of Formos, where civilian vessels have been hit with projectiles. Philip Belcher is a marine director for Intertanko, which represents independent tanker owners. He says at least seven crew members have been killed so far. They are unprotected, sitting on their ships. Iran has vowed not to allow any oil exports to pass through the Strait while it's at war. And experts say the huge size and slow speed of the tankers make it almost impossible to pass through undetected. And now they must consider the possibility that Iran could lay minds. It's all taking a toll on the workers. They're scared. They want to go home. Jacqueline Smith is a maritime coordinator for the International Transport Worker Federation, which represents seafarers around the world. And they shouldn't be collateral damage for doing their job. But it's likely they won't be able to leave until the hostilities are over. Nisha Patel, CBC News, Toronto. Washington is moving to ease fears over the supply crunch. US President Donald Trump even suggesting he had to lift sanctions on some countries to help lower costs. That move could give Russia a massive boost. As Reuters Stewart reports, Moscow is already seeing major gains. Sergei Pikkin is the director of the Moscow-based Energy Development Fund. He says the Middle East crisis has led to a surge in prices, including for Russia's heavily sanctioned crew. It's obvious that shipments from the Middle East are not so reliable anymore. The transportation risks are enormous. He told CBC News. Adding that this really plays into Russia's hands because it continues to supply oil to China, India, and other nations. European officials have warned against any move that will lift sanctions on Russian oil. The Russian President, Special Envoy, Carriol Dmitriyov met with his US counterparts in Florida on Wednesday. And said that the global energy crisis was among the topics discussed. Michael Allen is a former US National Security Council Special Assistant. People should recognize that Russia is an adversary, even if President Trump is trying to have a workable relationship. Breyer Stewart, CBC News, London. Now, despite the rising oil prices, gas prices in Canada's largest city, among others, actually fell overnight, going for almost a buck 54-liter in Toronto. Then, McTeig is President of the Canadians for affordable energy. It's not just the gasoline is diesel, which I think has the attention of policymakers because it's up 43 cents. Yes, it dropped 11 cents, but it's going back up 13 cents tomorrow. It would appear that there's really nothing holding back markets from bringing into account or bringing to bear the real concern they have. That there's a shortage of disruption of supply that may be ongoing as long as conflict continues. McTeig says gas prices are also expected to go up by 4-5 cents on Saturday. That is the world this hour. For CBC News, I'm Mike Miles. [MUSIC]
Podcast Summary
Key Points:
Jacqueline Furlin-Smith, a former Canadian military trainer, disappeared in Costa Rica in 2021 and remains missing.
Rising global oil prices, nearing $100/barrel, are driven by Iranian attacks on energy infrastructure and shipping in the Persian Gulf region, particularly the Strait of Hormuz, endangering crews.
The crisis benefits Russia's oil exports despite sanctions, while U.S. discussions on easing sanctions could further aid Moscow, raising concerns among European allies.
Despite global price surges, Canadian gasoline prices experienced temporary volatility, with expectations of further increases due to supply concerns.
Summary:
The text covers two main stories. First, it introduces the unsolved disappearance of Jacqueline Furlin-Smith, a Canadian who vanished in Costa Rica in 2021. The primary focus, however, is on escalating global oil prices, driven by Iranian attacks on energy sites and commercial vessels in and around the Persian Gulf and the critical Strait of Hormuz.
These attacks have halted operations, killed crew members, and created a dangerous environment for maritime workers. S. considers sanction relief that could further benefit Moscow—a move opposed by European officials.
Meanwhile, in Canada, gasoline prices are experiencing short-term fluctuations but are projected to rise due to ongoing supply disruptions linked to the conflict, highlighting the broad economic impact of the regional instability.
FAQs
Jacqueline Furlin-Smith is a 40-year-old former Canadian military trainer who moved to Costa Rica and vanished without a trace in the summer of 2021, remaining missing as of the report.
Global oil prices are rising due to Iranian attacks on energy sites in the Persian Gulf region, which have offset the impact of countries releasing large oil reserves.
Commercial ships in the Strait of Hormuz face attacks from projectiles, with at least seven crew members killed, and risks include potential mining by Iran, making it a highly dangerous maritime route.
The Middle East crisis has increased oil prices and transportation risks, benefiting Russia as it continues to supply oil to countries like China and India, despite sanctions.
Gas prices in Toronto fell to about $1.54 per liter overnight but are expected to rise by 4-5 cents on Saturday, reflecting market concerns over supply shortages due to ongoing conflicts.
The US has considered lifting sanctions on some countries to lower oil costs, a move that could inadvertently boost Russia's oil exports amid the global energy crisis.
Chat with AI
Loading...
Pro features
Go deeper with this episode
Unlock creator-grade tools that turn any transcript into show notes and subtitle files.
PodcastTranscript AI