The U.S. and Iran appeared no closer on Saturday to finding an end to their war after the two sides traded fire in the Gulf amid a tenuous ceasefire, while a U.S. intelligence analysis concluded Tehran could withstand a naval blockade for months. Recent days have seen the biggest flare-ups in fighting in and around …
US, Iran No Closer to Ending War as Gulf Clashes Flare Read More »
Russian President Vladimir Putin said on Saturday that he thought the Ukraine conflict was coming to an end. Russia’s 2022 invasion of Ukraine triggered the most serious crisis in relations between Russia and the West since the 1962 Cuban Missile Crisis, when many people feared the world was on the brink of nuclear war. “I …
Putin Says he Thinks the Ukraine Conflict is Coming to an End Read More »
The world has lost about 1 billion barrels of oil over the past two months and energy markets will take time to stabilise even if flows resume, Saudi Aramco’s CEO said on Sunday, as shipping disruptions choke traffic through the Strait of Hormuz. “Our objective is simple: keep energy flowing, even when the system is …
Aramco CEO Warns 1 Billion Barrels Lost Will Slow Oil Market Recovery Read More »
By Cody Good | Design Cynthia Tran Vo Key Takeaways China holds an estimated 1.4 billion barrels of strategic crude oil inventory, more than the next nine largest stockpiles combined. The U.S., Japan, and OECD Europe are the next-largest holders, reflecting decades of preparation for major oil supply shocks. Global strategic oil inventories are one …
Ranked: The World’s Largest Oil Stockpiles – Visual Capitalist Read More »
(Reuters) – U.S. producer Diamondback Energy bought options to sell the price difference between U.S. West Texas Intermediate crude and globally traded Brent crude at around minus $42 a barrel in coming months, according to the company’s quarterly filing, a bet that could pay off if the United States banned oil exports. The unusual hedge …
Diamondback Bets on Wider WTI-Brent Gap Amid US Export Ban Concerns Read More »
(Reuters) – U.S. LNG exporter Freeport LNG is expected to reduce output in the coming days due to unplanned maintenance at the Texas plant, twomarket sources said. The work at the third largest LNG export facility in the U.S. could last through May and have prompted the company to cancel three previously scheduled cargoes, the …
By Erwin Seba Oil benchmarks pare gains of as much as 3% Brent, WTI on course for falls of more than 7% for the week HOUSTON, May 8 (Reuters) – Brent crude futures jumped as much as 3% on Friday, a day after the U.S. and Iran traded air strikes, but pared gains as traders …
Oil Jumps After Renewed US-Iran Fighting, Then Pares Gains Read More »
By Mia Gindis Wall Street is growing more convinced that shipping through the Strait of Hormuz will remain impaired into the second half of the year, highlighting expectations for a longer-lasting supply shock. A majority of surveyed investors expect flows through Hormuz to be disrupted beyond the end of June, and 43% of respondents don’t …
Hormuz Woes Seen Lingering Into Second Half, Goldman Poll Shows Read More »
By Julian Lee and Alex Longley No region of the world produces more oil and gas than the countries straddling the Persian Gulf. Most of this energy can only be exported aboard tankers that cross the Strait of Hormuz — a waterway that’s effectively been blocked for more than two months. Iran has throttled traffic …
COMMENTARY: How the Strait of Hormuz Has Become a Weapon of War Read More »
By Amanda Stephenson Enbridge eyes $10-20 billion in new capital investments over next 24 months Company views rival Canadian pipeline proposals as a sign of industry confidence and growth CEO Greg Ebel highlights surge in demand for crude oil export capacity at Ingleside terminal May 8 (Reuters) – The investment climate for energy infrastructure in …
Enbridge Sees Best North American Energy Investment Climate in Over a Decade Read More »
