By Nicole Jao National average pump price $3.84/gallon, up 9.8 cents in a week Gasoline prices surged along with crude after truce collapsed Fewest tankers in two months transit the Strait of Hormuz NEW YORK, July 14 (Reuters) – Americans could soon see gasoline prices top $4 a gallon again as renewed hostilities between the …
US Drivers May Soon See Pump Prices Climb Back Up to $4 Read More »
Trump dropped planned Hormuz security fee, favoring Gulf investment deals instead Record diesel refining margins widened after Ukrainian attacks curbed Russian fuel exports Analysts estimated US firms drew 2.7 million barrels of crude from storage last week July 14 (Reuters) – Oil prices climbed about 2% to a one-month high on Tuesday after the U.S. …
Oil Prices Rise 2% to One-Month High as US-Iran Attacks Deepen Supply Disruption Read More »
(Reuters) – The Strait of Hormuz is part of Iran’s national security and it will exercise its sovereignty over it what ever that costs, Iran’s Deputy Foreign Minister Kazem Gharibabadi said in interview with state TV on Tuesday. Tehran currently has no commitments when it comes to the Islamabad MoU signed with the United States, …
By API – American Petroleum Institute The situation in the Middle East remains highly uncertain with renewed escalation, and energy markets continue to respond to each new development. Over the past several weeks, crude oil and gasoline prices have swung sharply higher and lower as markets reassess evolving geopolitical risks. Yet despite those twists and turns …
(Reuters) – Iraq’s Prime Minister Ali al-Zaidi said on Tuesday that Iraq needed a fair share within OPEC after he was asked by reporters whether he was considering leaving the oil producer group. Zaidi is on a trip to Washington as he aims to secure major U.S. investment in his country’s oil, gas, and power …
Iraq Needs a Fair Share Within OPEC, Says Prime Minister Read More »
(Reuters) – The price of Brent crude oil futures for prompt delivery rose on Tuesday to a one-month high over the price for oil six months later as traders priced in renewed risks to Middle Eastern supplies and shipping through the Strait of Hormuz. The first-month Brent contract traded $8.92 a barrel above the sixth-month …
Brent Oil Structure Changes to Reflect Mounting Supply Risk as Iran Tensions Flare Read More »
(Reuters) – President Donald Trump on Tuesday told reporters ahead of a meeting with Iraqi Prime Minister Ali al-Zaidi that the United States would be doing a lot of deals with Iraq and taking a lot of oil out of the country. “Iraq has tremendous potential because of their oil… and we’re going to be …
Trump Says US Will Be Doing a Lot of Deals With Iraq, Taking a Lot of Oil Out Read More »
(Reuters) – U.S. President Donald Trump on Tuesday dropped the idea of charging a 20% fee on all cargo shipped through the Strait of Hormuz, and said he would instead take trade and investment deals with the Gulf states. The change of plan comes a day after Trump proposed charging a 20% fee to guard …
Trump Drops 20% Fee Plan for Hormuz Strait in Favor of Deals With Gulf States Read More »
(Reuters) – Kazakhstan’s Justice Ministry said the operator of the Kashagan oilfield must pay an environmental fine of 2.3 trillion tenge ($4.89 billion) by July 20, but that the company has filed an arbitration claim challenging the penalty, Interfax reported on Tuesday. Interfax quoted Kazakh deputy justice minister Daniyel Vaisov as saying that the arbitration …
Kashagan Oilfield Operator Ordered to Pay $4.9 Billion Environmental Fine, Ifax Reports Read More »
WASHINGTON, July 13 (Reuters) – President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway. “The Hormuz Strait is OPEN, and will remain OPEN, with …
Trump: Iran Blockade Reinstated, US to Charge 20% on Strait of Hormuz Cargo Read More »
