The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows. The U.S. submarine strike on the Iranian vessel came as U.S. President …
Hormuz Shutdown Worsens After US Hits Iranian Warship; Tankers Stranded for Fifth Day Read More »
March 4 (Reuters) – Goldman Sachs raised on Wednesday its second-quarter 2026 average price forecast for Brent crude oil by $10 to $76 per barrel and for WTI by $9 to $71. These forecasts assume that low oil flows via the Strait of Hormuz will lead to large declines in OECD inventories and Middle East …
Goldman Sachs Raises Q2 Brent Oil Price Forecast by $10 to $76 a Barrel Read More »
Summary US LNG plants running near full capacity, limiting the potential for output increase amid Qatar disruptions Venture Global has the most flexibility, with higher percentage of spot market sales Golden Pass LNG project is set to begin production this month but will take time to ramp up (Reuters) – The U.S. has little spare …
There is Little US LNG Producers Can do to Immediately Replace Lost Qatari Cargoes Read More »
A proposed deepwater oil project off the Canadian east coast reached a key milestone Tuesday as the Newfoundland and Labrador government signed an agreement with Equinor on how to divvy up the development’s anticipated rewards. Premier Tony Wakeham received several standing ovations as he unveiled the benefits agreement for the Bay du Nord project at …
Industrial facilities that handle flammable and toxic gases face an ongoing risk of leaks that can escalate into fires, explosions, environmental impacts, and catastrophic loss. Process industries, including oil and gas, petrochemicals, and power generation, must therefore implement robust gas safety systems that not only detect leaks early but also deliver actionable alerts and mitigate risk. A layered gas detection strategy has emerged as …
Summary Geopolitical factors remain near-term key driver, analyst says US crude stocks up 5.6 million barrels last week, sources say (Reuters) – Oil prices rose about 1% on Wednesday as U.S.-Israeli strikes on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could …
Oil Prices up 1% as Iran Crisis Disrupts Middle East Supply Read More »
Investors rushed to lock in a spike in oil prices this week, resulting in a record volume of energy futures and options contracts changing hands on Monday, the first trading day after Israel and the U.S.bombed Iran and Tehran retaliated. Hedging provides traders with opportunities to profit in times of volatility, and can help producers …
Investors, US Crude Producers Scramble to Lock in Oil Price Spike Read More »
(Reuters) – Venezuela’s oil exports fell 6.5% in February from a month earlier to some 737,000 barrels per day as more shipments to the United States and Europe could not fully offset the loss of what used to be the OPEC country’s main market, China, according to vessel monitoring data and documents from state company …
Venezuela’s Oil Exports Fell 6.5% in February With Loss of Chinese Market, Data Shows Read More »
(Reuters) – President Donald Trump said on Tuesday he had ordered the United States Development Finance Corporation to provide insurance and guarantees for the financial security of all maritime trade, including oil tankers, traveling through the Gulf region. He made the comments in a Truth Social post. Reporting by Bhargav Acharya and Ryan Patrick Jones …
Trump Says US to Provide Insurance to All Maritime Trade in Gulf Read More »
By Niccolo Conte | Graphics/Design: Anna Diederichs Key Takeaways China receives 37.7% of all oil exports that pass through the Strait of Hormuz, the most of any country. Asian countries are most affected by a closure of the strait, receiving 89.2% of the Strait’s crude oil and condensate flows. The Strait of Hormuz is one …
Charted: Oil Trade Through the Strait of Hormuz by Country – Visual Capitalist Read More »
