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Tanker Rates Soar to Record as Oil Crisis Becomes Shipping Crisis
The cost of shipping crude oil soared to record highs last month as the Iran war reshuffled trade ro...
Emergency Oil Releases Risk Draining the World’s Last Supply Cushion
Earlier this week, the International Energy Agency, after consulting with G7, said it would release ...
Southeast Asia Needs More Power, But Its Weak Grid Could Be a Problem
The war in Iran has exposed a critical vulnerability in Southeast Asia’s energy markets. The region ...
Ukraine Strikes Gazprom's 200,000-Bpd Salavat Refinery in the Urals
Ukraine struck another major Russian refinery Thursday, hitting Gazprom's Neftekhim Salavat complex in the Urals as Kyiv intensified attacks that have already forced Moscow to curb fuel exports and ev ...
Hormuz Stalemate Raises Risk of $120 Oil
For months now, traders and market analysts have had to weigh two opposing scenarios for oil prices—the ongoing war and severely disrupted oil flows at the Strait of Hormuz and hopes that a U.S.-Iran ...
Romania Shuts Down Last Nuclear Reactor As Danube Hits 90-Year Low
Romania on Thursday began shutting down its only remaining operating nuclear reactor as record-low water levels on the Danube have forced nuclear power shutdowns in central and eastern Europe in recen ...
Oil Prices Fall as OPEC and IEA Slash 2026 Demand Outlooks
Despite the ongoing stalemate in the U.S.-Iran talks and persistent risks to shipping in the Middle East, oil prices fell in Asian trading on Thursday, weighed down by cuts to 2026 oil demand forecast ...
Ukrainian Attack Halts Operations at Key Russian Black Sea Grain Terminals
Did President Zelensky and the Ukrainian armed forces not listen to US Vice President JD Vance's warnings and request after all? On Wednesday a "massive" Ukrainian drone and missile strike was unleash ...
Ukraine Halts Oil Tanker Attacks on JD Vance Request
The Ukrainian forces have reportedly suspended drone attacks on oil tankers at the port of Novorossiysk following a request by U.S. Vice-President JD Vance, the Financial Times wrote today, citing unn ...
Hormuz Ship Traffic Falls to Weekly Low as Standoff Drags On
The number of ships that have transited the Strait of Hormuz dropped to a week-low on Tuesday, according to shipping data, as vessel owners continue to avoid the key chokepoint in the Middle East. Onl ...
Brent Tops $89 Amid U.S.-Iran Stalemate Over Hormuz
Brent Crude oil prices rose above $89 per barrel in early trade in Europe on Wednesday as Iran and the United States offered contrasting claims about who controls the Strait of Hormuz. Brent Crude pri ...
Drone Attack Hits Power Plant at Key Libyan Oil Hub
A drone has struck a power station at the Zawiya oil export terminal in Libya, suggesting continued attacks on one of the country’s main oil hubs. The power plant is in close proximity to the largest ...
Strait of Hormuz Traffic Sank To Just Six Vessels Monday
Vessel traffic at the Strait of Hormuz continues to decline as last week’s hopes of negotiations of a U.S.-Iran deal began to fade, yet again. As OilPrice notes, on Monday, only six commodity vessels ...
Russian Crude Exports Drop to Lowest Since May
Russia’s seaborne crude exports fell to their lowest level since May as recovering refinery runs pulled barrels back into domestic processing and attacks disrupted loading at key ports. Russia shipped ...
Hormuz Traffic Sinks to Six Vessels Monday as Iran Talks Stall Again
Vessel traffic at the Strait of Hormuz continues to decline as last week’s hopes of negotiations of a U.S.-Iran deal began to fade, yet again. On Monday, only six commodity vessels transited the Strai ...