By Georgina Mccartney Brent and WTI crude make largest daily drops since April 8 US-Iran negotiations progress, according to media report US military blockade of Iran remains in effect HOUSTON, April 17 (Reuters) – Oil prices settled down by around 9% on Friday after Iran said passage for all commercial vessels through the Strait of …
Oil Settles Down 9% After Iran Declares Strait of Hormuz Open Read More »
Energy industry experts say it could be a while before any calm returns to rattled oil markets after Iran’s top diplomat declared the Strait of Hormuz “completely open” to commercial traffic that had all but ceased when war engulfed much of the region seven weeks ago. “It will take several weeks, actually, for things to …
Hormuz Reopening Not Like ‘Flipping a Switch’ for Rattled Oil Markets: Professor Read More »
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second straight week for the first time since March, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by …
US Drillers Cut Oil and Gas Rigs for Second Straight Week, Baker Hughes Says Read More »
(Reuters) – Investors placed a bet worth about $760 million on a falling oil price around 20 minutes before Iran’s foreign minister announced on Friday that the Strait of Hormuz was open, another sizeable wager on the world’s most traded commodity ahead of major announcements in the course of the Middle East war. Large, well-timed …
Traders Place $760 Million Bet on Falling Oil Ahead of Hormuz Announcement Read More »
(Reuters) – The world has lost over $50 billion worth of crude oil that has not been produced since the Iran war began nearly 50 days ago and the aftershock of the crisis will be felt for months and even years to come, according to analysts and Reuters calculations. Iranian Foreign Minister Abbas Araqchi said …
How 50 Days of the Iran War Led to the Loss of $50 Billion Worth of Oil Read More »
(Reuters) – Iran’s foreign minister said the Strait of Hormuz, a critical waterway for transporting global oil and gas, was open for all commercial vessels following a ceasefire accord agreed in Lebanon. Here are some quotes from the shipping industry and world leaders on the Iranian declaration. SHIPPING INDUSTRY: KNUT ARILD HAREIDE, CEO OF THE …
Reactions of Industry and Leaders to Iran Saying Hormuz is Open Read More »
By Stefanie Eschenbacher, Stephen Eisenhammer, Laura Gottesdiener and Shariq Khan U.S. law enforcement executed a federal search warrant at Ikon Midstream’s Houston headquarters Company’s attorney said raid was triggered by Reuters’ October 2025 investigation into alleged fuel smuggling No arrests made; fuel trader’s attorney maintains Ikon Midstream engaged in no wrongdoing April 16 (Reuters) – …
US Law Enforcement Raids Offices of Houston Fuel Trader Ikon Midstream Read More »
April 17 (Reuters) – Slovakia will file a lawsuit in the coming days challenging the European Union’s decision to ban Russian gas imports, adopted by a qualified majority, and will seek a preliminary injunction, Prime Minister Robert Fico said on Friday. The suit will be filed with the EU’s Court of Justice, Fico said, criticising …
Slovakia to File Lawsuit Over EU’s Russian Gas Ban, PM Says Read More »
By Shadia Nasralla, Stephanie Kelly and Dmitry Zhdannikov Europe’s top-three majors made billions trading in Q1, sources say BP flags ‘exceptional’ trading results Shell, TotalEnergies also report strong trading results Chevron, Exxon fail to capitalise on crisis, shares trail LONDON, April 17 (Reuters) – The trading desks of Europe’s top three oil majors have reaped …
European Oil Majors Outshine US Rivals With Iran War Trading Bonanza Read More »
Takeaways by Bloomberg AI A record wave of new liquefied natural gas supply was meant to usher in a prolonged period of lower prices, but the war in the Middle East has caused the world’s worst-ever energy crisis and sent prices higher. The near-closure of the Strait of Hormuz and damage to Qatar’s LNG export plant …
Iran War Pushes Asia to Think Twice Before Doubling Down on LNG Read More »
