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Heatwave, Hormuz Threats and Qatar Blast Push European Gas Prices Higher
Europe’s benchmark natural gas prices rose by nearly 2% on Monday morning in Amsterdam as a heatwave...
Fed hawkishness and stretched valuations offset Iran deal relief, Deutsche Bank says
Despite the interim US-Iran deal and a considerable fall in oil prices, risk assets have barely move...
ECB’s Lagarde: “No evidence yet” of inflation de-anchoring that would warrant stronger ECB action
European Central Bank (ECB) President Christine Lagarde said on Monday that policymakers are not yet...
Guyana’s Oil Boom Gets a Major Boost From $100 Crude
Oil prices remain elevated in the wake of the Iran War. Tehran’s ability to close the Strait of Hormuz has sharply crimped world oil supply, with around 20% of all petroleum consumed globally passing ...
India Flags Second Tanker Incident Off Oman Within 24 Hours
India reported on Thursday a new incident with a tanker off the coast of Oman amid escalating U.S.-Iran tensions in the area, following the death of three Indian seafarers in a U.S. hit on another ves ...
Trump Says U.S. Will Hit Iran Again Tonight, Eyes Control of Its Oil Sector
President Donald Trump on Thursday threatened to seize Iran's main oil export hub, Kharg Island, and assume "total control" of the country's oil and gas markets, drawing a direct line to the U.S. oper ...
Sanctioned Private Chinese Refiner Seeks Non-Iranian Crude
Hengli Petrochemical, the privately-owned Chinese refiner that was sanctioned by the U.S. in April over allegedly buying Iranian oil, is looking to buy crude from other Middle Eastern producers and We ...
Another Gulf Producer Joins Dark-Mode Tanker Traffic Through Hormuz
Kuwait appears to have joined a growing bunch of Middle Eastern oil and gas producers that have moved to ship energy cargoes in dark mode through the Strait of Hormuz. The liquefied petroleum gas (LPG ...
India Secures Crude Supply Through August with Higher UAE Imports
Indian refiners have secured crude supply at least through August as they boost purchases from the United Arab Emirates (UAE), Africa, and Brazil, trade sources told Reuters on Thursday. India's state ...
Japan Taps Reserves and New Suppliers to Beat the Oil Blockade
Despite the Hormuz crisis, Japan has secured the same volumes of oil imports for July as it did a year ago, as it is boosting imports from producers not dependent on the Strait to deliver their crude, ...
Trans Mountain Oil Pipeline Hits Full Capacity as Asian Demand Surges
The Trans Mountain pipeline has reached full capacity for the first time since its expansion was completed, boosting the pipe’s total carrying capability to 890,000 barrels daily. Indeed, this month t ...
SLB Lands Major Deal to Help Rebuild Venezuela’s Oil Industry
SLB has signed a long-term contract with Venezuela’s PDVSA to reverse a major decline in oil production and modernize the country’s oil industry. “Venezuela's oil and gas sector has substantial resour ...
OPEC Oil Production Falls to Lowest Level Since 2000
Crude oil production among members of OPEC has this year collapsed to a generational low, at just 16.13 million barrels daily, Reuters reported, citing a regular survey it conducts on OPEC production. ...
Oil Prices Spike as Iran Declares Strait of Hormuz Closed
Oil prices surged again in early Asian trade on Thursday after Iran declared the Strait of Hormuz closed following a fresh round of U.S. strikes on the country. At the time of writing, Brent crude had ...
Scientists Create Giant Fire Tornadoes To Clean Up Oil Spills
Oil spills are some of the most destructive forms of marine pollution known to man, thanks to their acute toxicity and ability to devastate marine habitats. The BP Plc. (NYSE:BP) Deepwater Horizon spi ...