U.S. Strategic Petroleum Reserve Falls To Its Lowest Level In More Than Four Decades As Hormuz Strait Remains Closed
The Strategic Petroleum Reserve fell to its lowest level in more than 40 years as the Strait of Hormuz remains largely closed.
Iran Sees Hormuz As Trump's Waterloo. That May Not Be The Case.
The strategy poses risk as the US war has heaped misery on Tehran on multiple counts. Strikes have decimated Iran's top leadership, navy and air force. Iran's own economy is in shambles and Iranians who hit the streets in protests months ago against the regime, could latch on to economic misery to trigger an uprising again. These are factors which could upset Tehran's calculations.
Skirting Hormuz Is A Logistical Nightmare. Time To Pursue Such A Passage Has Arrived.
Experts have cited logistical nightmares and security threats that make skirting the Hormuz a daunting scenario. Alternative pipelines won't be sufficient to curb reliance on Hormuz as these have only a combined maximum capacity of about nine million barrels per day, compared to 20 million bpd that transited through Hormuz during peace time. But still, work is being carried out on such projects.
OPEC+ Agrees To Boost Oil Output. It May Not Reflect In Market Soon.
Export disruptions from the Gulf, Russia and Kazakhstan due to geopolitical conflicts meant that successive OPEC+ have remained largely on paper, causing little impact on the market. Major oil producers in the Gulf have not been able to increase exports due to the closure of Hormuz enforced by Iran.
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US Bucks The Trend Despite Price Spike, But Oil Demand Set To Slump: When Is A Recovery Expected
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Trump's Loaded Threats, Iran Leader's Revenge Call: Will Middle East Talks Get Back On Track
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OPEC+ Raises Output Target For August. Smooth Sailing Seen For Oil Price Trajectory
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Falling Oil Prices Are Putting Pressure On African Exporter Budgets Across The Continent. But The Real Strain Is Showing In Nigeria's Heavy Dependence On Crude Revenue.
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EU May Freeze Price Cap On Russian Oil Purchases As Iran Turmoil Continues
The hopes of an end to the conflict are also not concrete, given the back-and-forth negotiations between the Trump administration and the Iranian regime.
Iranian Media Says U.S. Offered Temporary Waiver On Oil Sanctions Against Tehran
Iranian outlet Tasnim reported that the U.S. offered an interim waiver on oil sanctions against the country.
US Lets Russia Oil Sanctions Waiver End Despite Surging Prices Due To Iran War
The previous waiver was described by US Treasury Secretary Scott Bessent as a measure to stabilize energy markets in the aftermath of the Gulf war.
Iranian Hackers May have Infiltrated Into US Gas Station Systems: Report
Gaining access to automatic tank gauge (ATG) systems may result in a hacker exploiting the system to cause detection of gas leaks go unnoticed
A Look At How Iranian Oil Exports Could Be Impacted If U.S. Escalates Attacks On Kharg Island
Smaller terminals such as Lavan, Sirri, and Jask cannot match Kharg's capacity. Estimates show Iran exports roughly 1–1.5 million barrels per day, and even a brief disruption could significantly cut supply.
Oil Prices Surge Again as Middle East Supply Risks Mount, Pressuring Markets
Oil prices continue to act as a major macro driver in the short term, boosting energy sector stocks while dragging on growth‑oriented sectors and reinforcing investor caution across global markets.
October 9 Oil Wrap: WTI And Brent Slip As Geopolitical Tensions Ease, Supply Outlook Weighs
The day's movement reflected a market recalibrating from short-term geopolitical fears toward more structural supply-demand pressures.
Wednesday Oil Wrap: WTI And Brent Gain As Global Supply Dynamics Shift
The market showed cautious optimism, with investors monitoring supply-demand dynamics across North America and international markets.
Oil And Gold Prices Surge Amid Escalating Israel-Iran Tensions
Brent crude surged nearly 10%, while WTI crude jumped 7.86% to $73.39 per barrel. Simultaneously, gold prices climbed over 1% to $3,445 per ounce, as investors sought safe-haven assets.
Gas Prices Dropping Across United States, National Average Likely To Fall Below $3
Gas prices across the country have dropped, with a new average price of $2.99 per gallon.
ExxonMobil Expects Global Oil Demand Near Current Levels In 2050
Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US oil and gas giant ExxonMobil said Monday, pointing to rising population and demand for energy worldwide.
US, Japanese Banks Lead Fossil Fuel Financing
The world's biggest banks financed fossil fuels to the tune of $705 billion in 2023, with US and Japanese lenders leading the way, an annual report by climate campaigners said Monday.
Oil Prices Surge To 6-Month Highs Amid Geopolitical Tensions, Supply Threats
Rising tensions in the Middle East and Eastern Europe contribute to a significant surge in oil prices, reaching levels not seen in six months.
US Oil Stockpile To Be Refilled This Year: Energy Secretary
The United States plans to refill its strategic oil reserve by the end of 2024 after the stockpiles reached historic lows last year, Energy Secretary Jennifer Granholm said Monday.
Oil Prices Rise Over 1% As OPEC+ Decision Looms Amid Geopolitical Strain
Oil prices rose over 1% on Friday ahead of an OPEC+ decision on production cuts, driven by market expectations of supply constraints and geopolitical tensions in the Middle East.
Middle East Tensions Fail To Spur Significant Movement In Oil Prices
Israel's rejection of Hamas' ceasefire proposal and its commitment to continue attacks in Rafah influenced last week's rise in oil prices.
Fueling Uncertainty: Oil Prices Surge as Middle East Tensions Escalate
Oil prices climbed due to geopolitical tensions stemming from ongoing efforts to negotiate a Gaza truce and U.S. actions against Middle Eastern militants.
Oil Prices Surge In Wake Of Red Sea Attacks
Oil prices shot up nearly 3% on Monday as more companies suspended shipping through the Red Sea following attacks on vessels by Yemen's Iran-backed Huthi rebels.
Venezuela's Guyana Annexation Referendum Leaves Region On Razor's Edge
The Maduro regime is threatening to destabilize the Caribbean in a bid for offshore oil reserves, in a move likely to invite back crippling US sanctions.
Sanctions Relief Won't Save Venezuela's Oil Industry, Analysts Say
In Venezuela, sanctions relief coincides with a groundswell of support for Maduro's opposition, raising hopes for the oil industry's revival.
California's Green Drive Leaves Its Oil Towns Behind
Fred Holmes watches with satisfaction as pumps pull oil from deep under his California farm, tapping a supply he thinks could last another century.
OPEC+ Weighs Fresh Production Cuts To Rein In Weak Prices
There are growing signs that major oil producers led by Saudi Arabia and Russia are considering slashing production further when they meet on Sunday in a bid to prop up prices.
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