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Two More Oil Tankers Attacked Near Strait of Hormuz
Two more tankers were attacked near the Strait of Hormuz on Sunday, one in Hormuz and the other off ...
Asian shares are mixed and oil prices fall about $1.50 as Trump says US will buy diesel from Russia
BANGKOK (AP) — Asian shares were mixed and oil prices fell about $1. President Donald Trump’s plan t...
‘Worrying omens’ lurk over global economy despite resilient growth
Research for the FT shows major economies are withstanding the Iran shock but concerns about rising ...
Gulf-to-China Supertanker Rates Hit $510,000 a Day
The daily rate for chartering a supertanker to pick up crude oil from within the Persian Gulf and deliver it to China has surged this week to the highest level in two months as exporters seek vessels ...
Tankers U-Turn at Hormuz as Iran Tightens Its Grip
Tanker traffic at the Strait of Hormuz has become even more erratic than before, with vessels meandering and U-turning, unsure how to proceed amid escalating security threats and Iran’s insistence of ...
Pakistan's Power Generation Costs Jump 38% on Record Spot LNG Buys
Power generation costs in Pakistan surged by 38% in July from a year earlier as the country paid the highest spot LNG prices in four years amid the supply disruption from the Middle East. The costs to ...
Houthis Claim Third Attack on Saudi Aramco Refinery in Two Weeks
The Iran-aligned Houthi group on Tuesday claimed it had targeted Saudi Aramco’s Jazan oil refinery on Red Sea coast in southwest Saudi Arabia, in what was the third Houthi attack at the facility in th ...
Brent Tops $91 After Unidentified Projectile Hits Vessel Transiting Hormuz
A cargo vessel was struck by an unknown projectile in the Strait of Hormuz early on Tuesday local time as risks of additional escalation in the region pushed Brent Crude oil prices above $91 per barre ...
China Boosts Fuel Exports as Domestic Stockpiles Swell
China exported 6.7% more fuel last month than it did in June, although on an annual basis fuel exports dropped by 12.9%, Reuters reported today, citing Chinese customs data. In absolute terms, Chinese ...
Libya Seeks Up to $40 Billion to Boost Oil Output to 2 Million Bpd
Libya needs between $36 billion and $40 billion in foreign investment to expand its oil industry and raise output to 2 million barrels daily by the early 2030s, the Financial Times has reported, citin ...
U.S.-Iran Tensions Push Oil Prices Higher as Diesel Margins Hit Records
Declarations by Iran and the U.S. earlier this week make the prospect of peace in the Middle East even more distant, driving crude oil prices higher. Meanwhile, the diesel crack spread in the U.S. top ...
North America’s Only Cesium Project Moves Closer to Production
Power Metals is advancing what it describes as North America’s only cesium project at a time when America’s defense ambitions are colliding with the reality of critical mineral supply chains. The U.S. ...
U.S. Shale Majors Cut Spending Despite Higher Oil Prices
U.S. oil companies dominating the shale patch are planning to trim their spending plans and instead take advantage of higher international oil prices to reduce debt and boost shareholder returns. This ...
Automation Could Start Eating Into U.S. Diesel Demand
The rise of automation, AI, and electric trucks can fundamentally change the freight transportation industry in the United States, leading to a revolution in transport fuel demand. Various vehicle and ...
Why Libya’s Next Oil Pipeline Could Be a Geopolitical Game-Changer
The proposed Libya–Egypt crude oil pipeline has, surprisingly quickly, entered a phase in which Cairo and Tripoli are actively discussing it. The pipeline, expected to be 800 kilometers long, will con ...