By Trevor Hunnicutt and Parisa Hafezi Trump says Iranians want to make a deal US, Pakistani officials says talks continue Iran warns of harsh response to maritime blockade Oil prices jump back over $100 NATO allies refuse to join in WASHINGTON/DUBAI, April 13 (Reuters) – The U.S. military began a blockade of ships leaving Iran’s …
US Begins Blockade of Iran’s Ports, Tehran Threatens Retaliation Read More »
By Valerie Volcovici WASHINGTON, April 13 (Reuters) – Oil prices are likely to hit their peak “in the next few weeks” once ship traffic resumes through the Strait of Hormuz, U.S. Department of Energy Secretary Chris Wright said on Monday. Prices are expected to continue rising until “meaningful” ship traffic resumes through the strait, Wright …
Peak Oil Price Likely to Come ‘in Next Few Weeks,’ US Energy Secretary Says Read More »
(Reuters) – The head of the International Energy Agency, Fatih Birol, said on Monday he hopes another oil stockpile release is not needed but “we stand ready to act” if the energy shock resulting from the war with Iran requires it. The 32-member IEA agreed last month to release 400 million barrels of oil from …
IEA is Ready to Further Tap Global Oil Reserves if Needed, Chief Says Read More »
(Reuters) – OPEC on Monday lowered its forecast for world oil demand in the second quarter by 500,000 barrels per day, citing the impact of the war in the Middle East, the producer group’s monthly oil report showed on its website. Global oil demand is projected to average 105.07 million bpd in the second quarter, …
OPEC Lowers Second-Quarter Global Oil Demand Forecast on Iran War Read More »
By Sheila Dang, Marianna Parraga and Deisy Buitrago Chevron relinquishing Loran gas field Chevron signs pacts for expansion in the Orinoco Belt New areas, reassignments come after law reform approval CARACAS/HOUSTON, April 13 (Reuters) – Chevron (CVX.N) signed two agreements on Monday to expand operations at Venezuela’s vast Orinoco Belt, including an asset swap adding …
Chevron Agrees to Asset Swap in Venezuela to Focus on Oil Projects Read More »
(Reuters) – The Iran war and the closure of the Strait of Hormuz have shattered a status quo that prevailed among Middle East oil and gas producers for decades. Even if the current, shaky ceasefire holds, the uneasy “new normal” has likely set the stage for yet another round of conflict. Tehran has now demonstrated …
Iran’s Hormuz Gamble Ushers in a Tense New Normal for Gulf Energy: Bousso Read More »
(Reuters) – The United States’ NATO allies said on Monday they would not get involved in President Donald Trump’s plan to blockade the Strait of Hormuz, further ratcheting up tensions within the increasingly fragile alliance. Trump said the U.S. military would work with other countries to block all maritime traffic in the waterway, after weekend …
NATO Allies Refuse to Join Trump’s Strait of Hormuz Blockade Read More »
By Julian Hast US natural gas futures rose alongside oil prices as renewed risk to energy flows out of the Persian Gulf triggered financial inflows into baskets of energy products. Weather forecasts also shifted cooler, indicating modestly higher demand for the heating and power-plant fuel. The front-month US gas contract ended last week at the …
US Natural Gas Futures Rebound on Oil Price Gain, Cooler Outlook Read More »
A full blockade could halt the remaining flows and threaten economies far beyond the Middle East By Weilun Soon and Clara Ferreira Marques U.S. President Donald Trump’s plan for a full naval blockade of the Strait of Hormuz threatens to deepen an already unprecedented crisis in one of the world’s most important energy-producing regions. The …
How Would Trump’s Blockade of the Strait of Hormuz Work? Read More »
(Reuters) – The European Union’s member states must coordinate on energy prices amid a 22 billion euro ($25.70 billion) increase in fossil fuel bills since the start of the Iran war, EU Commission President Ursula von der Leyen said on Monday. “We’re also looking into … coordination of member states’ gas storage filling to …
EU Member States Must Coordinate on Energy Prices Amid Iran Conflict, von der Leyen Says Read More »
