The US nearly became a net crude exporter for the first time since World War Two, as exports surged toward record levels to meet rising demand from Asia and Europe replacing disrupted Middle East supplies....
Oil prices fell below $100 a barrel this morning (April 14) over signs of new US-Iran dialogue to end their war. Brent crude was at $97.8 in early trade, while US WTI crude was at $96.83....
deVere Group CEO Nigel Green warns that closing the Strait of Hormuz would trigger a sharp oil price surge beyond previous spikes and cause intensified market volatility as blockade risks become more plausible....
Asia's biggest liquefied petroleum gas (LPG) importers, including India and China, are racing to replace disrupted Middle East supplies with cargoes from the Americas, driving spot premiums to record highs, analysts and traders said....
It would take months for jet fuel supply to recover even if the he Strait of Hormuz reopens, given disruptions to Middle East refining capacity, said Willie Walsh, Director General of the International Air Transport Association (IATA)....
Oil prices could rise to $120–$130 a barrel in the near term, with a risk of climbing above $150 if supply flows through the Strait of Hormuz remain disrupted into mid-May, according to a JP Morgan note cited by Reuters....
Sadara Chemical, a joint venture between Saudi oil giant Aramco and US chemicals firm Dow, has announced that it has temporarily shut down production at its parent-operated plant. Sadara Chemical operates a complex in Jubail with an annual production capacity of 3 million MT of chemicals and plastics. ...
The Government of Dubai has confirmed that firefighting teams successfully extinguished the fire that broke out on a huge Kuwaiti oil tanker after an Iranian drone attack off Dubai waters early on Tuesday....
Oil prices extended gains on March 30, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israel war with Iran in the Middle East....
TotalEnergies has signed settlement agreements with the US Department of the Interior (DOI) to relinquish its Carolina Long Bay lease (Lease OCS-A 0545) and its New York Bight lease (Lease OCS-A 0538), both awarded in 2022, along with its partners. As a result, TotalEnergies will no longer develop offshore wind projects in the US....
Iranian attacks have knocked out 17% of Qatar's liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy's CEO and state minister for energy affairs told Reuters. ...
US President Donald Trump has announced plans for what he described as a $300 billion refinery investment in Texas backed by India’s Reliance Industries, calling it the first new oil refinery to be built in the United States in nearly 50 years and a major step toward restoring American energy dominance....
Aramco warned the Strait of Hormuz disruption from the Iran war could have “catastrophic consequences” for global oil markets and trigger ripple effects across shipping, insurance, aviation, agriculture and automotive industries. ...
Attacks on commercial shipping in the Gulf intensified on Thursday as the war between the US and Iran escalated, raising concerns about disruptions to energy supplies from one of the world’s most critical oil transit routes. Nine vessels have come under attack since the conflict broke out on Saturday. ...
India's GAIL said it will assess curbing supplies to natural gas customers after a force majeure notice from long-term supplier Petronet LNG over constraints on vessels as conflict escalates in the Middle East....
At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed, after US and Israeli strikes on Iran plunged the region into turmoil....
Oil prices were hovering near seven-month highs on Wednesday as the threat of military conflict between the US and Iran that could disrupt supply continued to worry investors as talks between the parties are set for Thursday. Brent prices soared to $71.10 per barrel, their highest since July 31, 2025. ...
Aramco has sold several cargoes of ultra-light crude oil from its $100 billion Jafurah gas plant to US majors and an Indian refiner as it prepares to export its first cargo later this month, four trade sources said to Reuters....
Global power demand is set to grow by more than 3.5% per year on average over the rest of this decade, with electricity generation from renewables, natural gas and nuclear all expanding to keep pace, according to a new International Energy Agency (IEA) report. ...
Caracas and Washington have reached a deal to export up to $2 billion worth of Venezuelan crude to the US, US President Donald Trump said, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts....
