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US Equity Indexes Decline, Crude Oil Rises in Midday Trading
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equit...
Oman-Iran plan blocks US, Israeli ships as Hormuz risks rise
Some details of the Oman and Iran plan to manage the Strait of Hormuz revealed that ships belonging ...
Silver Price Forecast: US Dollar rebound pressures XAG/USD ahead of US jobs report
Silver (XAG/USD) trades lower at around $60.95 on Thursday at the time of press, down 1.73% on the d...
A Clean Shipping Crunch Is Looming Amid a Conventional Fuel Shortage
The escalation of conflict across the Middle East and the disruption to energy flows through the Strait of Hormuz have introduced a variable into the maritime energy transition that regulatory framewo ...
IEA: Oil Shock Sparks Surge in EV Sales
Electric vehicle sales could hit nearly 30% of all car sales in the world this year as drivers accelerate a shift to EVs and hybrids amid spiking fuel prices in the wake of the Iran war, the Internati ...
US Crude Oil, Gasoline Inventories Sinking Fast
Crude oil inventories in the United States decreased by 7.9 million barrels during the week ending May 15, according to new data from the U.S. Energy Information Administration (EIA) released on Wedne ...
UK Eases Some Russian Oil Sanctions as Fuel Prices Soar
As a result of spiking fuel prices and concerns about jet fuel supply shortages, the UK government has waived sanctions on imports of diesel and jet fuel processed from Russia-origin crude in third co ...
Three Supertankers Carrying 6 Million Barrels Exit Strait of Hormuz
Three commercial supertankers carrying a combined 6 million barrels of Middle East crude oil have successfully exited the Strait of Hormuz, Reuters reports. The vessels departed the strategic waterway ...
Indonesia Tightens Grip on Key Commodity Exports
Indonesia, the world’s biggest nickel producer and top coal exporter, is moving to tighten control over exports of key commodities, Indonesian President Prabowo Subianto said on Wednesday. The governm ...
Woodside CEO: Markets Are Badly Underestimating the LNG Supply Shock
The global gas markets are seriously underestimating how the shock loss of LNG supply from the Middle East will affect the world and economies in the coming months and years, the head of Australia's t ...
Energean Slashes Dividend After Israel Gas Shutdown Cuts Output
UK-based oil and gas producer Energean plc on Wednesday slashed its first-quarter dividend and full-year production outlook following a 41-day halt to production at a gas field offshore Israel due to ...
India Eyes Direct Gulf Oil Loading Despite Hormuz Blockade
India plans to send empty tankers into the Strait of Hormuz to load oil supplies from the Gulf producers in a first such Indian move west of the chokepoint for loading crude and LPG since the Iran war ...
Strikes Hit Two Australian LNG Facilities After Wage Talks Collapse
Maintenance workers at two offshore LNG facilities in Australia went on strike after failing to reach an agreement on wage terms with their employer, engineering major UGL. “The end result of UGL's in ...
Two Supertankers Exit Hormuz With Crude Bound for China
Two supertankers loaded with crude oil exited the Strait of Hormuz today and are heading to China, Reuters reported, citing data from LSEG and Kpler. The vessels are carrying Iraqi and some Qatari cru ...
China Turns Green Tech Into an Economic Lifeline
For years now, China has been the world’s most generous sponsor of alternative energy systems and electric vehicles. This has not only made it the biggest market for such technologies but also the big ...