Countries face energy triage as the Iran war escalates

BANGKOK (AP) — The escalating war with Iran is pushing parts of the world into energy triage, forcing governments to choose where to cut demand or absorb costs, while prioritizing dwindling supplies. Asia is the most exposed since it relies heavily on imported fuel, much of it shipped through the now-blockedStrait of Hormuz. The narrow passage offshore from Iran is the main route for shipping a fifth of global trade in crude oil and liquified natural gas. Governments in the region are scrambling to adjust — tallying oil reserves, conserving energy, competing for supplies and trying to blunt prices. That…