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Spanish watchdog launches further investigations into energy companies over blackout
The Spanish antitrust and energy regulator CNMC 'has added more power 'companies to the list 'of firms 'being investigated in relation to last year's unprecedented Blackouts in Spain and Portugal.' It said on Friday. The CNMC launched formal investigations last week after?finding?evidence that certain power sector rules had been?breached for extended periods of time, potentially contributing to the crippling 'outage in April 2025. The investigation was then announced to include the?grid operators Red Electrica MC> and Naturgy MC> as well as Iberdrola MC> and Repsol. It has now opened sanctions proceedings against Engie Cartagena, TotalEnergies Clientes and?others. Engie and Total didn't immediately respond to a request for comment. Cani Fernandez, the head of CNMC, had said previously that 'the most serious violations could result in a fine up to 60 million Euros. It said that the sanction procedures have a maximum period of nine to 18 months, depending on the severity of the offense. (Reporting from Gdansk by Joao Mauricio, with additional reporting by America Hernandez and editing by Andrei Khalip.)
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US and European stocks are swayed as markets look for signs of Middle East progress
Wall Street stocks were mixed on Friday, and European shares were also lower. Investors were watching the fragile U.S.Iran truce as well as weighing up corporate earnings with the downbeat guidance due to war-related price shocks. The Nasdaq was boosted by the strong performance of Intel's tech shares. Meanwhile, the S&P 500 had a more modest green. The Dow was in negative territory. The S&P 500, Nasdaq, and blue-chip Dow were all set to post nominal gains for the week. However, the Dow's blue-chip index was expected to decline since last Friday. The S&P 500 and Nasdaq remained near their record highs. Jay Hatfield CEO of Infrastructure Capital Management, New York, said that earnings have been the dominant topic for the past two weeks. "And after that, we'll be focusing on the end of the war." Hatfield stated that "Yesterday, the market sold off due to war headlines but then rallied back." Hatfield said that today, the market is not up to date on the positive news that the Pakistani foreign minister was in the country. According to Pakistani sources, peace talks between the United States of America and Iran may resume soon in Pakistan. Iranian Foreign Minister Abbas Araqchi is due to arrive there on Friday evening. According to U.S. president Donald Trump, the Israel-Lebanon truce was also extended by three more weeks after a high-level White House meeting. Oil prices?were volatile, as supply concerns outweighed optimism about potential U.S. Iran peace talks. U.S. crude dropped 1.12% to $94.78 per barrel. Brent was down to $104.70 a barrel, a drop of 0.36% for the day. SOLID CORPORATE RECORDS MARKED BY DOUR GUIDANCE The first-quarter reporting season is in full swing, with 139 companies from the S&P 500 reporting. Eighty-one percent of those companies have exceeded earnings expectations. According to LSEG, analysts now expect S&P 500 earnings to grow 16.1% year-over-year, up from 14.4% projected at the beginning of the third quarter. On analyst conference calls, however, CEOs have been providing more and more negative guidance because of the escalating fuel prices resulting from war in Iran. Procter & Gamble, a consumer products company, warned in its earnings call on Friday that the war-related shock to energy prices will affect its profit by approximately $1 billion. Amazon, Alphabet and Meta Platforms are among the companies that will report earnings next week. Exxon Mobil, Chevron and other oil supermajors are scheduled to report on Friday. The Dow Jones Industrial Average dropped 151.44, or 0.31% to 49,157.80. The S&P 500 rose '22.81, or 0.32% to 7,131.21. And the Nasdaq Composite gained 197.27, or 0.81% to 24,635.41. Investors worried about a possible inflation shock due to disruptions in energy supplies caused by Middle East turmoil. The MSCI index of global stocks rose by 2.05 points or 0.19% to 1,069.36. The pan-European STOXX 600 fell by 0.49% while Europe's FTSEurofirst 300 index dropped 10.77 points or 0.44%. Emerging?markets stocks gained 12.17 points or 0.76% to 1,611.48. MSCI's broadest Asia-Pacific share index outside Japan closed up by 0.77% to 825.44. Japan's Nikkei gained 575.95 or 0.97% to 59,716.18. Investors were on edge as war uncertainty weighed down on the dollar. The dollar index (which measures the greenback in relation to a basket of currencies, including the yen, the euro and others) fell by?0.23%, while the euro rose by 0.26%, reaching $1.1713. The dollar fell 0.19% against the Japanese yen to 159.41. Bitcoin gained 0.09% in value to $78,994.26. Ethereum fell 0.47% to 2,315.37. The yield on the benchmark U.S. 10 year notes dropped 1.7 basis points from 4,323% at late Thursday to?4,306%. The 30-year bond rate?fell by 1 basis point from 4,918% to 4.9081% late Thursday. The yield on the 2-year note, which is usually in line with expectations of interest rates for the Federal Reserve fell by 4.3 basis points, to 3.783% from 3.825% at late Thursday. The Middle East turmoil continued to raise inflation concerns, which led to gold's advance. Spot gold increased by 0.81%, to $4.730.84 per ounce. U.S. Gold Futures increased 0.03% to $4.70670 an ounce.
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US and EU announce plan to coordinate trade policies for critical minerals
On 'Friday, the United States and European Union released an action plan aimed at coordinating trade policies and measures on critical minerals supply chains with a view of concluding a plurilateral binding agreement in future. The plan doesn't mention China specifically, but is part of an broader effort by the Trump administration?to work with Western allies to loosen China’s grip on critical materials for advanced manufacturing. China has used its chokehold over the 'processing of minerals' as geo-economic leverage. At times, it has curtailed exports, suppressed prices, and undermined other countries ability to diversify the sources of materials that are used to manufacture semiconductors, electronic vehicles, and advanced weapons. U.S. trade representative Jamieson Greer said that the U.S., and EU, shared a common commitment to "tackling the non-market policies and practices which?have distorted critical minerals supply chain." Washington and Brussels would 'examine how trade measures such as border-adjusted price floors could strengthen critical minerals industries in the United States and downstream sectors that are critical to industry competitiveness. Reporting by Andrea Shalal
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Ambani's Reliance misses quarterly profit estimates as costs bite
Mukesh Ambani's Reliance Industries posted a 12% drop in its fourth-quarter net profit, falling short of market expectations as rising input costs impacted the core businesses. Reliance's refinery business, which is a major profit generator, had a difficult quarter. Higher crude costs and higher freight rates resulting from the Iran War coincided with operational restrictions and export levies to boost domestic fuel supplies. Mukesh D. Ambani, Chairman and Managing Director, said that the war in West Asia had caused a 'unprecedented disruption in global supply chains. The core earnings of the company's refinery business, which accounts for nearly a third (33%) of its EBITDA in the fourth quarter, dropped 3.7% from the previous year. Reliance Jio Platforms' core earnings rose 17.9%. Jio Platforms is the second largest telecom company in terms of users and will be filing for approval to list its shares, according to a report published at the end of March. Ambani stated on Friday that the company was progressing steadily toward the listing. He did not provide any further details. The?costs of materials consumed for the quarter jumped 20% to 1,29 trillion rupees. According to LSEG, the company's consolidated 'net profit' fell to 169.71 'billion rupees (about $1.80 billion), falling short of analysts' average estimates of 201.16 'billion rupees.
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US consumer sentiment falls to near 4-year low in April
A?survey released on Friday showed that U.S. consumers' sentiment dropped to its lowest level in nearly four years during April, as inflation fears were stoked by the war with Iran. The Consumer Sentiment Index of the University of Michigan's Surveys of Consumers fell to 49.8 in April, its lowest reading since June 2022. This was an improvement over the 47.6 reading reported earlier in the month. The economists polled had predicted the index to be at 48. It was 53.3 in March. After the announcement of a two-week ceasefire and the lowering of?gas prices, sentiment has recovered a small portion of its losses from the beginning of the month, said Joanne Hsu, director of Surveys of Consumers. The?Iran?conflict seems to influence consumer views primarily by shocks in gasoline prices and possibly other prices. Military and diplomatic developments which do not ease supply constraints or reduce energy prices will likely not buoy consumers. The U.S. and Israel war against Iran has caused disruptions in shipping through the Strait of Hormuz. This has pushed up the prices of commodities such as oil, fertilizers, petrochemicals, and aluminum. Tehran closed the Strait effectively after the start of the war on February 28. This week, President Donald Trump extended the ceasefire indefinitely with Iran despite a 'U.S. The Navy Blockade of Iranian Ports remained?in effect. This month, the survey's measure for consumer expectations of inflation in the coming year dropped from 4.8% to 4.7%. In March, it was at 3.8%. Consumers expect inflation to rise from 3.2% in March to 3.5% by the end of next year. Lucia Mutikani reported; Chizu Nomiyama edited.
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Gold to lose weekly value as inflation worries linger over US-Iran uncertainty
Gold prices rose a little on Friday, but they were still on track for their first loss in five weeks as inflation worries remained high due to the Iran War impasse. Spot gold is up 0.3% to $4,704.63 an ounce as of 1313 GMT. It had fallen 2.5% this week and hit its lowest level since April 13. U.S. Gold Futures for June Delivery edged?0.1% Lower to $4,721.10. As in previous days, gold is linked to oil prices. Oil was up 2% and now down 1%. It seems to be connected to the potential for renewed talks between Iran?and?the U.S., said UBS analyst Giovanni Staunovo. "Gold fell (this week) due to a rise in oil prices, expectations of higher interest rates, dollar, and yields. All of these were correlated." Sources say that Iranian Foreign minister Abbas Araqchi will arrive in Islamabad Friday night, and there are likely to be peace talks between the U.S. Brent oil prices fell on Friday, with Brent at around $104 per barrel. However, the price is still heading for a gain of 16% for the week. The rise in crude oil prices could lead to higher interest rates. Gold is seen as a hedge against inflation, but higher interest rates reduce demand for the non-yielding material. The benchmark 10-year U.S. Treasury rate rose 1.6% in the past week, increasing the cost of gold. Meanwhile, the dollar is on track to make its first weekly increase in three weeks, making bullion more expensive for holders of foreign currencies. Israel and Lebanon have extended their ceasefire by three weeks following a meeting at the White House, which was mediated?by U.S. president Donald Trump. Trump said that he would wait until he found "the best deal" for ending conflict with Iran. Silver spot rose 0.3% per ounce to $75.65, while platinum fell 0.4% to 1,998.60, and palladium grew 1.6% to $1.491.98. (Reporting by Ishaan Arora in Bengaluru; Editing by Kirsten Donovan)
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Pentagon chief Hegseth says US blockade on Iran 'going global'
U.S. defense secretary Pete Hegseth stated on?Friday, that the U.S. is extending its blockade to Iran. He added that Tehran had a chance of making a "good deal". Hegseth said to reporters that "our blockade is?growing, and it's going global." He said that no one could sail from the Strait of Hormuz anywhere else in the world without permission of the United States Navy. Three Pakistani sources said on Friday that peace talks between Iran, the United States, and other countries could resume in Pakistan soon, after the last round of negotiations, which was expected to take place earlier this week, failed. Hegseth, standing next to U.S. top general?Dan Caine said that the U.S. is "not anxious" about a deal with Iran and repeated Trump's earlier comments of having "all the free time in the universe." "Iran is aware that it still has a window of opportunity to make a wise decision... at the negotiating table. He said that all they need to do is give up a nuclear weapon "in meaningful and verifiable" ways. Caine said the U.S. Central Command is continuing to maintain a tight blockade of all Iranian ports. He said that 34 ships were turned around by Friday morning. Caine said that the U.S. Military would continue to intercept Iranian vessels in both the Pacific Ocean and Indian Ocean. Caine stated that "we're enforcing a blockade against any ship, regardless of nationality, transiting into or out of an Iranian port or territory." He said: "We are closely tracking vessels that have an interest in Iran, and those who were moving away from Iran outside the blockade zone?when it was ordered. We're ready and poised to intercept these vessels." The U.S. Naval Blockade against Iran began April?13. Hegseth warned that Iran would violate the ceasefire if it attempted to place?mines along the Strait of Hormuz. Hegseth stated that "The Strait of Hormuz is being traversed in a way that is much more restricted than anyone would have liked to see. It is also more dangerous than what people would want to see. This is because Iran is doing irresponsible actions with small, fast vessels... with weapons attached,"
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Russia promises to assist Cuba in overcoming US 'blackmail' and threats
Russia stated on Friday that it stands in solidarity with Cuba, and will continue to provide humanitarian aid for the island-republic run by communists. It rejected what it called threats and blackmail from Washington. Donald Trump, the U.S. president, has stated that he hopes to "take Cuba", but Washington is also calling on Havana to allow greater political and economic freedoms. Maria Zakharova, spokeswoman for the Russian Foreign Ministry, told reporters that "against the background of the malicious and targeted escalation?against Cuba we reaffirm solidarity with the Cuban Government and the Cuban People." "We reject threats and blackmail in foreign policy. This also applies to Washington's aggressive demonstrations against Havana, with a?aim to grossly interfere?in Cuban internal affairs in order?to break Cuban statehood." Cuba has been a close ally to Moscow for many decades. From the Communist Revolution of 1959, which brought Fidel Cuba to power, until the collapse of the Soviet Union in 1991. Russia has more recently supported the island financially and with material goods. "Russia and Cuba share a long-standing relationship. Zakharova stated that "we have always stood by Cuba's side in its fight for independence and in its right to live according to its own rules, follow its own path, and defend its interests." "We will continue to provide humanitarian aid to Cuba during this difficult period of artificially fuelled confrontation." The Russian flagged Anatoly Kolodkin oil tanker delivered 700,000 barrels?Russian Urals crude to Cuba's Matanzas Bay in late March, breaking a U.S. blockade. The Trump administration claimed that it permitted the delivery due to "humanitarian reasons". Reporting by FilippLebedev and Maxim Rodionov; Writing by Anna Peverieri, Guy Faulconbridge and Mark Trevelyan. Editing by Mark Trevelyan.
Unique REPORT-Is climate change lighting a fuse under Iceland's volcanoes?
T oxic sulphurous gas, carrying the telltale reek of rotten eggs, wafted through vents in the high walls of Iceland's Viti crater, while carbon dioxide bubbled to the surface of the milky blue crater lake. Veils of steam wreathed the landscape of loose rock in eerie halflight.
Through this prohibiting surface-- Viti is derived from the Icelandic for hell-- Michelle Parks, a volcanologist with the Icelandic Meteorological Office, selected her method towards the water's edge one day last August. With a screen strapped to her hip to warn her if the gases reached harmful levels, she stooped to submerge a temperature probe in the lake-- 26.4 degrees Celsius (79.5 degrees Fahrenheit), constant with recent readings.
That was assuring, a minimum of for the time being. The crater was formed when Askja, a volcano in Vatnajokull National forest in Iceland's central highlands, uncorked in an explosive eruption in 1875. Askja's last eruption, in 1961, was milder, and for decades after, the volcano was quiet. But in 2021, Parks and other scientists keeping tabs on it were shocked to find that in simply a few months, the volcano had actually quickly expanded, uplifting by 11 centimetres (4.3 inches). This phenomenon, called inflation, takes place when lava or pressurised gases build up under a volcano, pressing the ground upwards and outwards.
In the three years since, Askja's bloat has reached about 80 cm (32 inches). That uplift, scientists approximate, is the outcome of 44 million cubic metres (1.6 billion cubic feet) of magma flowing into the existing reservoir around three km (2 miles). below the surface area.
Volcanologists have actually established a correlation between lava. buildup under a volcano and subsequent eruption. But they do not. understand precisely just how much lava is required to assist trip an eruption. That is why Parks and her associates are closely keeping an eye on the. temperature level and acidity of Viti's crater lake. A jump in either,. suggesting that more gases are pressing in from below, would. suggest the volcano is moving closer to an eruption. So far,. those metrics have stayed stable, but the researchers viewing. Askja do not take that for approved.
An eruption could be catastrophic, though smaller sized ones are. a lot more most likely. On the scale volcanologists utilize to determine the. size of explosive eruptions, Askja is capable of one equivalent. to that of Mount St. Helens in the U.S. state of Washington in. 1980, although its eruptive design would differ. That eruption,. which stimulated the Australia-born Parks' long-lasting enthusiasm for. volcanoes, released a force equivalent to 25,000 Hiroshima-type. atomic bombs.
The goal of the volcano observatory at the Icelandic. Meteorological Office is to keep track of the country's volcanoes for. modifications in activity, like those now observed at Askja, assisting. to protect the country's nearly 400,000 people and the hordes. of foreign tourists who check out every year to take pleasure in Iceland's. world-renowned geothermal attractions.
Nevertheless, the team's work has taken on more comprehensive significance. In 2015, Parks and colleagues with the University of Iceland. gotten government financing for a pioneering research task. throughout 12 organizations to check a theory that could have dire. implications not just for Iceland, but for every person on the. world: Whether the rapid retreat of glaciers as an outcome of. human-caused environment change will set off increased volcanic. activity.
The fundamental process underpinning the concept is simple. The. significant weight of glaciers and ice sheets can tamp down. volcanoes. When the ice retreats, the down pressure on the. planet's thin outer crust and much thicker underlying mantle. eases, permitting the ground to rebound. This change in pressure. spurs dynamic forces below volcanoes to produce more magma and. modify its motion, affecting eruptions.
Iceland is basically one of the very best places worldwide. to study this ... because we have both volcanism and glaciers,. Parks stated. At the end of the day, what we're aiming for with. this task is a much larger image. It's the future of. volcanic eruptions. How large can they be? ... And what remains in shop. for us in the future, not just in Iceland however for the rest of. Europe and possibly farther afield.
UNCORKING CATACLYSM
What researchers already understand of Iceland's eruptive history. supports the theory.
When the thick glaciers and ice caps that had covered the. North Atlantic island during the last significant Glacial epoch receded. between about 15,000 and 10,000 years back, underlying volcanoes. responded with fury. In 2002, scientists determined modifications in. Iceland's volcanic activity with time by evaluating the chemical. structure of lava rock samples. They found that eruption rates. rose an approximated 30 to 50 times during and quickly after the. ice loss compared to the preceding Ice Age and current times.
It was likely a catastrophic situation, with a ludicrous. amount of eruptions, Parks said, as rivers of lava improved the. island and ash rained into surrounding seas. Askja, too,. signed up a significant explosive eruption throughout this time.
When again, researchers state, the elements required to set off. another surge in eruptions are converging. Glaciers now cover. simply 10% of Iceland, however that ice still weighs on over half. the country's 34 active volcanic systems, and it is quickly. melting as international temperature levels climb. In the previous 130 years,. Iceland's glaciers have actually lost about 16% of their volume, with. half of that in just the past 3 years. Researchers anticipate. approximately half of the staying volume will be passed this. century's end.
Already, the magma chambers underneath Iceland might be. responding to the loss of ice, and not just those straight under. glaciers. Askja, which has been free of ice for 10,000 years,. and much of Iceland are rebounding due to the fact that pressure changes from. glacial retreat affects big parts of the Earth's crust and. mantle.
Over the last 3 years, magma has actually been produced below. Iceland at a rate 2 to 3 times what it would have been without. the ice loss, according to preliminary modelling results from. Parks' project shared exclusively with Reuters. More magma is. can be found in below Iceland, and we simply do not require it, Parks. said. We have actually got enough.
Researchers very first theorised in the 1970s that melting ice. may impact volcanic eruptions. However just recently have they. started to comprehend the scale of the potential risk. Four. years ago, volcanologists compiled the initially detailed. global database of volcanoes under ice or within five km (three. miles) of it, releasing their findings in the journal Global. and Planetary Change. They discovered that some 245 active or. potentially active volcanoes around the globe met the criteria,. from the Andes to The United States and Canada's Waterfall Mountains and Alaska,. to Russia's Kamchatka Peninsula and Antarctica.
The exact same research study likewise found that about 160 million people live. within 100 km (62 miles) of at least one of those volcanoes and. that 20,000 individuals are within the immediate area. Numbers. like that underscore the hazard if glacial melt were to press. more volcanoes to pop off, releasing deadly floods and mud. circulations and spewing huge clouds of ash and lethal gases into the. atmosphere.
The impacts would not end there. Eruptions abundant in carbon. dioxide, a greenhouse gas, could exacerbate international warming,. outlasting the sulphur aerosols in the environment that can cause. initial durations of cooling. And the volcanoes now understood to sit. under the West Antarctic Ice Sheet might help speed ice melt. into the ocean, raising sea levels.
Evidence suggests that what occurred in Iceland after the. last Glacial epoch was duplicated to a lower extent all over the world. Eruptions were between 2 and 6 times greater internationally between. 12,000 and 7,000 years ago owing to more regular eruptions in. areas that were losing their ice cover, according to a 2009. research study in the journal Earth and Planetary Science Letters.
A VIOLENT HISTORY
Iceland is uniquely primed for frequent volcanic eruptions. because of its location at the juncture of 2 tectonic plates. that are pulling apart over an upwelling of anomalously hot. material in the Earth's mantle. Many smaller sized eruptions have. little effect beyond their immediate vicinity, though they are. still able to put on incredible shows. Others can have deadly. effects far beyond Iceland.
When Laki, southwest of Askja, erupted in 1783-84, the. fluorine it expelled polluted the island's plants and water. sources, killing majority of Iceland's livestock. This. farming collapse resulted in a famine that eliminated around a fifth. of the island's human population, while the resulting haze of. sulphurous fog that later on reached Europe may have added to. the deaths of thousands more people. And as far as Africa. and Asia, the eruption's results compromised monsoons, starting. more scarcities.
Near the southern coast under a little ice cap lies Katla,. considered one of the world's most dangerous volcanoes under. ice. Katla has actually racked up more than 20 eruptions because the Middle. Ages, balancing one every 60 years, and it is overdue for. another, having last erupted in 1918. Throughout that eruption, heat. putting from Katla's caldera rapidly melted the ice atop the. volcano, releasing a torrent of water higher than the integrated. discharges of the Amazon, Mississippi, and Yangtze rivers at its. peak. And, like Laki, Katla has explosive potential.
The time for Katla to emerge is coming close ... It is high. time for European federal governments and airline authorities all over. Europe and the world to begin planning for the ultimate Katla. eruption, then-Icelandic President Olafur Ragnar Grimsson informed. BBC News in 2010, following the eruption of Eyjafjallajökull. The ash cloud from that eruption caused EUR1.3 billion (US$ 1.4. billion) in losses from cancelled flights throughout a six-day. European airspace restriction, making it the world's costliest eruption. in the last century.
The Icelandic federal government has emergency plans in place for a. Katla-style eruption and works with regional police districts to. produce near-term threat evaluations for other volcanoes.
However the government has actually also tapped its intense structure to. its benefit, utilizing it to heat homes and companies and draw. big-spending travelers to renewing geothermal baths. After. the Eyjafjallajökull eruption, the Icelandic federal government made. volcanoes a pillar of a now multibillion-dollar tourist. industry. Keepsake stores in the capital, Reykjavik, offer lava. rocks from a recent eruption on the Reykjanes Peninsula for. 2,000 Icelandic krona (US$ 14) apiece.
SEEING YOUR PALS VANISH
Like many Icelanders, 29-year-old Iris Ragnarsdottir. Pedersen and her daddy, 62-year-old Ragnar Frank Kristjansson,. have an intimate understanding of the extremes of their land of ice. and fire. Along the south coast in Svinafell, Ragnarsdottir. Pedersen, a mountain guide, lives with her hubby and their. Icelandic sheepdog, Blika. Her father, a retired national forest. manager, has a small turf-roofed summer house next door. Overlooking them is a large cliff, beyond which lies. Vatnajokull ice cap and, under it, the volcano Oraefajokull. After Oraefajokull emerged in 1362, sailors reported seaborne. pumice floating in such masses that ships could hardly make. their way through it.
Father and child both remember signing up with fellow Icelanders. throughout the years to admire the glowing fountains and rivers of. lava produced by eruptions. They also recognize with the. impact of environment modification.
For 25 years, Kristjansson has actually volunteered as a glacier. monitor with the Icelandic Glaciological Society, tracking the. retreat of 2 glaciers that flow out of the Vatnajokull ice. cap, the nation's biggest. Every fall, he treks for hours to. among the glaciers, Skeidararjokull, to take measurements that. he sends to the Icelandic Meteorological Office. It's a lonely. walk toward the glacier-- 15 km in the black sand, he stated.
Kristjansson utilized to be able to stride right approximately the edge. of Skeidararjokull. However as it has rapidly diminished over the past. years, a lake has actually formed at the foot of the glacier, obstructing. his way. He now has to utilize unique binoculars to determine the. range. This year, he said, one point along the glacier's edge. showed a retreat of 300 metres (984 feet), which is the greatest. he has actually taped.
Ragnarsdottir Pedersen has actually experienced the retreat from year. to year on treks to the glaciers with her dad and by simply. looking out her windows. It's simply devastating to see, she. stated. I have actually in some cases said to people, 'It resembles watching your. buddies vanish.'
As a child, she understood Oraefajokull prowled under the. Vatnajokull ice cap. But it only ended up being a concern when the. volcano started rumbling in 2017, just as she and her hubby. started planning to build their home near it. When she felt the. earthquakes and caught the smell of sulphur from the rivers, she. said, You're like, 'Oh yeah, we actually have this powerful,. rather hazardous volcano right above our home.'
Ultimately, she and her partner weren't worried enough to. cancel the relocation, having faith that researchers would closely. keep track of the volcano for any risk. People have resided in. Svinafell considering that the settlement of Iceland, she said.
A CLINICAL CAPITAL
Oraefajokull is one of 6 active volcanoes covered by the. Vatnajokull ice cap. As Vatnajokull has actually thinned and retreated,. some of the volcanoes below it, as well as close-by Askja, have. become agitated. Oraefajokull has relaxed considering that its 2017. awakening. Grimsvotn and Bardarbunga, 2 volcanoes under the. ice cap that are being assessed in Parks' task, have together. notched 5 eruptions in the previous thirty years, compared to just. one under the ice cap in the preceding 40 years.
Parks and her clinical associates said it's too early to. conclude that the increased activity under Vatnajokull is linked. to rapid loss of ice cover. Other scientists have actually developed. that clusters of eruptions can occur in natural cycles under the. ice cap. But to determine whether climate modification might also be. playing a part, they will have to collect more data on ice. retreat and lava generation and feed it into complicated computer system. designs.
Due to the fact that of its continuing unrest, Askja is the main draw for. scientists, who flock to its huge calderas when Iceland's. brief summer allows for field research study. Like most of Iceland's. volcanoes, Askja does not conform to the stereotypical cone. shape of volcanoes such as Japan's iconic Mount Fuji. Instead,. fissures snake across a vast Mars-like landscape carpeted. with lava rocks and pockmarked with craters from past eruptions.
To reach the centrepiece of the Askja system, an. 11-square-km (four sq miles) caldera lake called Oskjuvatn,. researchers journey hours across the highlands in Super Jeeps and. Land Rovers balanced on 35-inch tires. Oskjuvatn was formed in. an explosive 1875 eruption that shot out big volumes of airy. pumice, much of it still covering the location around Askja, with. fist-sized portions tossed about by strong winds.
Above the lava tank near the western side of the lake. is where Askja has actually been inflating fastest, a lure for. scientists. On a go to in August, Reuters experienced a group of. three scientists from the University of Geneva at the lake's. edge, filling equipment into an inflatable rowboat. Their objective: to. measure carbon dioxide concentrations in the lake and collect. water samples from its inmost points.
The information is challenging to get. The numbingly cold and typically. tempestuous waters are dangerous. Landslides on the caldera's. high scarp can launch tsunamis huge enough to overload neighbouring. Viti crater. In 1907, 2 German researchers set off onto the. lake and were never seen again. The Geneva team's boat would be. the first on the lake in nearly a decade. The University of. Geneva scientists dressed in thick thermal equipment, simply in. case.
One of them, geologist Nicolas Oestreicher, stated the work. was necessary offered both Askja's explosive capabilities and the. increased activity around the lake. If it's a huge explosion,. then it's truly hazardous for the people around here, the. travelers, Oestreicher stated.
His group, which later returned securely from their boat journey,. was among numerous from Iceland and abroad that day racing to. find out what was going on at Askja. University of Iceland. geophysicist Freysteinn Sigmundsson, co-head with Parks of the. government-funded job, existed, too. Today might be the. wealthiest day in all of Askja's history in regards to the variety of. researchers here, he said.
Sigmundsson has actually been pertaining to the volcano almost every year. considering that 1990 and he knows the terrain well. Carrying a. surveying tripod, he clambered with sure-footed expertise across. beds of jagged, crunchy lava, searching for round metal markers. that researchers anchored in the area in the 1960s and 1970s. These would inform him where to set up his equipment to examine how. much Askja had actually grown or moved over the past year.
The measurements Sigmundsson and his coworkers took in. August showed 12 cm (five inches) of uplift at Askja given that the. previous year, confirming that the volcano was still in a state. of discontent and could erupt at any time.
FROM THE ANDES TO ANTARCTICA
Regardless of what they ultimately find, the interplay. between volcanoes and ice will remain a chief concern among. volcanologists. The most fatal eruption in the last 100 years. was that of Nevado del Ruiz in the Colombian Andes in 1985. Some. 23,000 people were eliminated after a superheated amalgam of ash,. lava pieces and gases called a pyroclastic circulation melted snow. and ice near the volcano's top, sending enormous rivers of mud. and debris hurrying down the volcano's flanks.
Any eruption where there is a possibility of (snow or ice). communicating with the hot stuff contributes to the aspects of threat,. said Ben Edwards, a volcanologist at Dickinson College in. Pennsylvania and lead author of the 2020 study that produced the. database of ice-clad volcanoes.
Edwards and his fellow researchers prepared a list of the. world's most unsafe volcanoes that lie under glaciers, based. on the volume of ice on or near each one, the frequency of past. eruptions, and the population living within 30 km (19 miles). 7 of the top 10, they found, are in the Andes. The most. hazardous is Villarrica in Chile, with more than 35,000 individuals. residing in its shadow. Edwards remains in the middle of a five-year. research study looking for to comprehend how Villarrica reacted to glacial. retreat at the end of the last Ice Age.
The small number of research studies to date of the interaction. in between pulling away ice and volcanoes in other parts of the. world, researchers stated, mean the research underway in Iceland. will help develop a design template for what could occur elsewhere. It's not a best comparison: The underlying plate tectonics in. Iceland differ from those in the Andes. Magma reservoirs also. lie much deeper in the crust in the Andes than in Iceland,. Edwards said.
We don't have an excellent physical understanding of all the. procedures that control melting (of rock into magma) much deeper in. the mantle, said David Pyle, a volcanologist at the University. of Oxford who studies Chilean volcanoes. Whereas in Iceland,. the conceptual model is better established because in a manner. it's geologically simpler.
Antarctica, where both ice and volcanoes are abundant, has. become an area of issue in the last few years. While a handful of. volcanoes were understood to reside under the huge West Antarctic Ice. Sheet, in 2017 scientists reported discovering another 91 possible. volcanoes hidden there.
How many of them are active or have the potential to awaken. is difficult to establish. There are probably two or 3. which are certainly active. However there might be as many as 100 or. 150, said John Smellie, a former senior volcanologist with the. British Antarctic Survey who has actually finished 27 field seasons on. the continent and won 2 Polar Medals from the British royals.
If environment modification begins a new age of eruptions in the. coming years, Smellie said, it would hasten the already fast. loss of the continent's ice cover due to climate modification, adding. to rising water level and overloading the world's big seaside. cities. Antarctica is shedding more than 150 billion metric heaps. of ice a year, according to satellite measurements, and. scientists think that as oceans continue to warm, the West. Antarctic Ice Sheet is quick approaching a tipping point beyond. which the melt can not be stopped.
If an eruption includes even a small amount to global sea. level, it will worsen impacts currently happening due to. environment modification, Smellie said.
Under the worst-case situation, rapid melting of the West. Antarctic Ice Sheet would alleviate the pressure on buried volcanoes,. setting off eruptions. This in turn would speed up ice loss,. awakening much more volcanoes that melt more ice, and so on,. resulting in international catastrophe. Nevertheless, Smellie stated, that is. not likely to take place because thousands of nearly simultaneous. eruptions would be needed to melt even a small percentage of the. ice sheet.
IN THE RISK ZONE
Couple of individuals make their home near Askja. The closest village. lies about 60 km (37 miles) away. But some 13,000 individuals visit. the volcano throughout the summer season, when Askja is more. available, according to data from the national park authority. Frequently, tourists climb down into Viti crater to swim in the. Instagram-worthy lake, despite signs that warn them about acidic. water, which can irritate skin, and falling rock.
After a week of field work at and around Askja last August,. the volcanologists gathered park rangers and local police and. lodging personnel in a close-by ranger hut one night for a security. instruction on the state of the volcano.
Parks hovered over her laptop computer displaying a series of charts. and charts on her latest findings that revealed Askja was. still pumping up. Sigmundsson, standing in the doorway, described. to the rangers and police that forecasting eruptions is an. inaccurate science; they may not always have weeks of. seismic activity as a caution of an imminent eruption. The time. scale can be quite brief, he said. Hours, possibly ... You would. wish to have a plan if something occurs to rapidly evacuate the. caldera.
Among the greatest threats to tourists is a phreatic. explosion-- a blast of hot steam, ash and rocks that includes. little warning. That's what formed Viti crater nearly 150 years. earlier. In 2019, a phreatic explosion at New Zealand's White Island. volcano killed 22 people who were checking out the island at the. time.
At Sigmundsson's words, the room fell quiet. One of the. police officers then piped up with a plan: We just have to hope. that it blows up in the middle of the winter season.
(source: Reuters)