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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 ...
US Crude Oil Inventories Keep Falling As Hormuz Flows Slow To Start
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 6.072 million barrels in the week ending June 26. In the week prior, US crude oil inventories f ...
Oil Markets Brace for a Summer of Hormuz Volatility
Brent tops $73 as renewed U.S.-Iran strikes keep Hormuz on edge, leaving oil markets vulnerable to sharp summer price swings. Hormuz Plays Red Light, Green Light as Transits Slow Down This Week - Reac ...
Oil Prices Head for Biggest Quarterly Drop Since Pandemic
As traffic through the Strait of Hormuz tentatively reopens following the U.S.-Iran deal to make a deal, oil prices on Tuesday were on track to post a 20% monthly decline and a 30% quarterly plunge in ...
Trump Pressures Gas Stations to Slash Prices "Immediately"
President Donald Trump has scolded fuel retailers for failing to cut prices at the pump, saying in a social media post “Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high con ...
The $7 Trillion AI Boom Is Turning Into The Energy Trade of the Century
You might think that Shark Tank’s “Mr. Wonderful,” Kevin O’Leary, is betting it all on AI, but he is not. He is betting on the $5+ trillion in infrastructure required to run it, and that’s where big ...
Russia’s Fuel Crisis Is Pushing the Kremlin Toward Kazakhstan
Grappling with a severe shortage, Russia is seeking to purchase a significant volume of gasoline from neighboring Kazakhstan. Astana appears hesitant to fulfill the request, however, apparently concer ...
Crude Prices Sink as Traders Bet on More Iranian Oil
August WTI crude oil futures kept falling sharply during the week ending June 26. Traders continued to take out the extra price they had added earlier because they worried about possible supply proble ...
China’s Crude Imports Set to Hit Weakest Level Since 2016
Chinese crude oil imports this month are on course to book an even weaker month than May, according to Kpler data, which sees the daily average at just 6.4 million barrels, as cited by Bloomberg. Data ...
Kazakhstan Lands $12 Billion in EU Deals to Expand Energy and Trade Ties
Kazakh President Kassym-Jomart Tokayev’s visit to the EU’s headquarters in Brussels has yielded agreements and MoUs potentially valued at over 12 billion dollars. The key deal involves the purchase of ...
ADNOC Cuts Murban Crude Price to $101.48 as Hormuz Tensions Ease
ADNOC, the national oil company of Abu Dhabi, has cut the official selling price for July for its flagship Murban crude to $101.48 per barrel, down from $104.44 a barrel for June, amid weakening inter ...
China to Increase Fuel Export Allowances for July
China is raising the volume of fuels it is allowing state refiners to export, in a move that would alleviate concerns about tight refined petroleum supplies in Asia. China’s authorities this week met ...
Trump Singles Out Exxon, Chevron, Shell, and BP Over High Gas Prices
President Donald Trump has listed Exxon, Chevron, Shell, and BP as being among companies responsible for excessively high fuel prices, following the announcement of a federal government probe into pri ...