Summary Iran renews attacks on US Gulf allies Strait of Hormuz disruption has halved UAE crude output Middle East crude benchmarks hit record highs (Reuters) – Oil prices rose by nearly 3% on Tuesday, clawing back some of the previous session’s losses as Iranian attacks on the United Arab Emirates rekindled supply fears while the …
Oil Prices Jump More Than 2% After Renewed Iranian Attacks on UAE Read More »
War in the Middle East is spurring interest in Asia for gas from the $44 billion Alaska LNG project, top executives of lead developer Glenfarne said, who aim to make final investment decisions this year and next, and start shipping LNG in 2031. Final go-aheads for the project’s pipeline and export terminal have been delayed …
(Reuters) – Authorities in Abu Dhabi on Monday were dealing with a fire at the Shah oil and gas field caused by a drone attack and said that no injuries had been reported so far, the Abu Dhabi media office reported. The Shah field is one of the world’s largest of its kind and is …
Fire at Abu Dhabi Shah Oil Field Caused by Drone Attack, Abu Dhabi Media Office Says Read More »
(Reuters) – European Union foreign ministers showed “no appetite” to expand an EU naval mission in the Middle East to the Strait of Hormuz for the time being, EU foreign policy chief Kaja Kallas said on Monday. U.S. President Donald Trump has called on other nations to help police the strait after Iran responded to …
EU Has ‘No Appetite’ to Expand Mideast Naval Mission to Strait of Hormuz, Kallas Says Read More »
(Reuters) – U.S. President Donald Trump said on Monday that it was unclear whether new Iranian leader Ayatollah Mojtaba Khamenei was still alive, given reports he had been injured in an air strike. “We don’t know… if he’s dead or not. I will say that nobody has seen him, which is unusual,” he said during …
Trump on Iran: We Don’t Know if New Leader is Still Alive Read More »
(Reuters) – Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60% in the week to March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations. The effective closure …
Middle East Oil Exports Drop at Least 60% as Hormuz Stays Mostly Closed, Data Shows Read More »
(Reuters) – This is a historic week in the world of monetary policymaking. The “G4” central banks meet in the same week for the first time since December 2021, and only the second time ever, with investors clamoring for evidence of whether the Middle East oil shock could make policymakers start thinking about rate hikes. …
Oil Shock Sparks Rate Repricing in Historic ‘G4’ Central Bank Week: McGeever Read More »
By Gianluca Lo Nostro and Robert Harvey IEA’s 400 million barrel release calmed markets, Birol says IEA warns of prolonged disruptions to global energy trade Oil-importing emerging economies in Asia hit hardest by oil supply shock PARIS/LONDON, March 16 (Reuters) – The International Energy Agency’s member countries could release more oil into the market from …
IEA Could Release More Oil Stocks if Needed, Agency Chief Says Read More »
By Bo Erickson, Maayan Lubell and Parisa Hafezi US-Israeli war on Iran enters third week, boosting global oil prices Several allies decline US call to escort shipping in Hormuz Israel has at least three weeks of plans for military strikes Iran fires at Israel, launches drone attacks on UAE and Bahrain WASHINGTON/TEL AVIV/DUBAI, March 16 …
Trump Upset as Key US Partners Shun Call for Hormuz Warship Escorts Read More »
By Priscila Azevedo Rocha Shell Plc sees long-term global demand for liquefied natural gas continuing to grow because of its flexibility and reliability, even as the conflict in the Middle East brings volatility to prices. The company expects consumption for the fuel to surge by at least 45% by 2050 from 2025 levels, it said …
Shell Sees LNG Demand Growing Despite Iran War Volatility Read More »
