The loss of as much as 20% of the world’s crude oil and refined fuels through the ongoing effective closure of the Strait of Hormuz gathers most of the media attention as the main fallout from the attack on Iran by the U.S. and Israel. But of more pressing concern is the rapid tightening of …
Iran War Hits Refined Fuels Harder than Crude and Importers Need to Act: Russell Read More »
Chief executives of major U.S. oil companies warned official of U.S. President Donald Trump’s administration that the energy crisis triggered by the Iran war is likely to get worse, The Wall Street Journal reported on Sunday, citing people familiar with the matter. The CEOs of Exxon, Chevron and Conocophillips warned in a series of White House meetings …
US Oil CEOs Warn Trump Administration that Energy Crisis Likely to Worsen, WSJ Reports Read More »
More than 400 million barrels of oil from International Energy Agency emergency reserves will begin flowing soon, the agency said in its most detailed account of the rollout of the plan to combat a spike in crude prices since the start of the Iran war. Stocks from Asia and Oceania countries will be available immediately …
Emergency Stockpile Oil Coming Soon to Iran-Wracked Markets, IEA Says Read More »
Energy developer Glenfarne needs to secure offtake agreements for a further 3 million metric tons of liquefied natural gas before making a final investment decision on the $44 billion Alaska LNG project, its chief executive said on Sunday. The lead developer of the Alaska project is in talks with two potential buyers to add the …
Alaska LNG Needs More Offtake Commitments Before Final Investment Decision, CEO Says Read More »
U.S. President Donald Trump threatened further strikes on Iran’s Kharg Island oil export hub and urged allies to send warships to secure the Strait of Hormuz, as Tehran vowed to step up its response and the war showed no sign on Sunday of coming to an end. Trump said the U.S. strikes had “totally demolished” …
Trump Threatens More Strikes on Iran’s Kharg Island, Pushes Allies on Strait of Hormuz Read More »
Oil loading operations at the United Arab Emirates’ Fujairah emirate, a major bunkering hub and crude export terminal, have resumed after a drone attack and fire on Saturday, four sources told Reuters, but it was unclear if the operations were back to normal. An Indian-flagged vessel loaded with 80,800 tonnes of United Arab Emirates’ Murban oil, …
Port of Fujairah Resumes Oil Loadings After Attack and Why it Matters Globally Read More »
U.S. Secretary of Energy Chris Wright has authorized a 13% increase in exports at Venture Global’s Plaquemines liquefied natural gas terminal in Louisiana, the U.S. Department of Energy said on Friday. The move allows additional exports of up to 0.45 billion cubic feet per day of U.S. natural gas as LNG to non-free-trade-agreement (non-FTA) countries …
US Authorizes 13% Increase in Exports at Venture Global’s Plaquemines LNG Terminal Read More »
U.S. President Donald Trump on Friday Said on Friday that the United States carried out strikes against “every military target” on Iran’s Kharg Island export hub. “For reasons of decency, I have chosen NOT to wipe out the Oil Infrastructure on the Island,” Trump wrote on Truth Social. “However, should Iran, or anyone else, do …
US Attacks Iran’s Key Export Hub, Kharg Island, Trump Says Read More »
Summary Reports of resolution, continued fighting move prices US measures aimed at easing supply tightness Disruption of trade through the strait continues (Reuters) – Crude futures climbed higher on Friday as the Strait of Hormuz remained closed, but analysts were wary the weekend might bring surprise changes in the status of the war two weeks after it …
Crude Futures Turn Positive on Continued Hormuz Closure Read More »
(Reuters) – Iran has allowed two Indian-flagged liquefied petroleum gas carriers to sail through the Strait of Hormuz, four sources with direct knowledge of the matter said, a rare exception to the Iranian blockade that has disrupted global energy supplies. The Indian-flagged LPG tanker Shivalik crossed the Strait under escort from the Indian Navy, said …
Iran Lets Two Gas Tankers Sail to India Through Hormuz, Sources Say Read More »
