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EU Has Reserves, Production for Five-Months Supply of Jet Fuel, Dutch Government Says

CDN and International News, Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil / By

AMSTERDAM, April 20 (Reuters) – The Dutch government on Monday estimated that the European Union could supply enough kerosene ​to the EU’s economy to last about five months, drawing on ‌domestic production and strategic reserves. European airlines have warned of potential jet fuel shortages within weeks as a result of the Iran war. The Dutch …

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Trump Says Energy Chief ‘Wrong,’ Expects Lower Gas Prices as Soon as Iran War Ends

Conventional Energy, Energy Topics & Technology, Finance, Latest, Natural Gas, US News / By

WASHINGTON, April 20 (Reuters) – U.S. President Donald Trump on Monday dismissed his top energy official’s view that gas prices will not drop until 2027, saying ​Americans can expect lower costs as soon as the Iran war ‌ends. On Sunday, U.S. Energy Secretary Chris Wright told CNN that while gasoline below $3 a gallon “could …

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Energy Services Set to Benefit Once Iran War Ends, Barclays Says

CDN and International News, Energy Services, Energy Topics & Technology, Latest / By

By Joshua Gaunt-Warner The European energy services sector faces a brighter future once the Middle East conflict de-escalates as a result of work that oil producers need to undertake to resolve disruption, according to Barclays Plc analysts. Companies such as Technip Energies SA and Viridien SA are set to see increased demand as countries look …

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Global Oil Stocks Could Fall by 900 Million bbl Even if Ceasefire is Extended, Citi Says

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(Reuters) – Researchers at Citi said on Monday that global crude and product inventories could decline by roughly 900 million barrels even if the United States and Iran agree to a ceasefire extension this week, and both Strait of Hormuz flows and oil production recover to normal levels by the end of June. The bank …

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Fate of Iran Peace Talks Uncertain as Deadline Approaches for End of Ceasefire

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(Reuters) – Iran is considering attending peace talks with the United States in Pakistan, a senior Iranian official told Reuters on Monday, following moves by Islamabad to end a U.S. blockade of Iran’s ports, a major hurdle for Tehran to rejoin peace efforts. However, the official stressed that no decision had been made. Adding to …

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Iran ‘Positively’ Reviewing US Peace Talks Participation; No Decision Yet, Official Says

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(Reuters) – A senior Iranian official said on Monday that Tehran is positively reviewing its participation in potential peace talks with the United States but that no final decision has been made. The Iranian official said positive efforts are underway by mediator Pakistan to end the U.S. blockade and to ensure Iran’s participation in the …

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Kuwait Declares Force Majeure on Oil Shipments Amid Hormuz Blockade, Bloomberg News Reports

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(Reuters) – Kuwait has declared force majeure on shipments of crude oil and refined products after a blockade of the Strait of Hormuz prevented some vessels from entering the Persian Gulf, hindering its ability to meet certain customer commitments, Bloomberg News reported on Monday, citing a document. State-run Kuwait Petroleum Corp. notified customers on Friday …

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Phillips 66, Kinder Morgan Move Ahead With New US West Coast Fuel Pipeline

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, Pipelines, US News / By

(Reuters) – Phillips 66 and Kinder Morgan have secured enough long-term shipper commitments to move forward with a proposed pipeline project to supply fuel to Arizona and California, they said on Monday. The Western Gateway Pipeline project comes as companies race to build a major new fuel pipeline to the U.S. West Coast ahead of …

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PERSPECTIVE: Is it Time to Abandon Hope the Strait of Hormuz Will Open Soon?: Russell

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A consistent theme in global oil markets since the U.S. and Israel attacked Iran is that the effective closure of the Strait of Hormuz will be short-lived, and therefore so will the disruption to the supply of crude and refined products. That expectation has consistently been reflected in pricing for crude oil futures, which have …

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COMMENTARY: Opening Hormuz is the Easy Part. Restoring Oil Flows Isn’t: Bousso

Conventional Energy, EnergyNow News and Press Releases, Latest, Natural Gas, Oil, US News / By

The stop-start shipping traffic through the Strait of Hormuz underscores the profound uncertainty hanging over the world’s most critical oil and gas chokepoint. But one thing is already clear: even if the guns fall silent, flows through the narrow waterway will take months – and possibly years – to recover to pre-war levels. Iran said …

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