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Aramco Sees ‘Catastrophic Consequences’ For Oil Markets if Hormuz Strait Remains Blocked

CDN and International News, Conventional Energy, Latest, Oil / By

Summary Aramco CEO: Hormuz disruption is the industry’s “biggest crisis” Oil shipments from Gulf largely blocked Aramco East-West pipeline to reach capacity in days (Reuters) – Saudi Arabia’s Aramco, the world’s top oil exporter, said on Tuesday there would be “catastrophic consequences” for the world’s oil ​markets if the Iran war continues to disrupt shipping in …

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Oil Sinks 7% as Trump Predicts Middle East De-Escalation

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Oil prices fall after topping $119 a barrel on Monday Trump predicted the war in the Middle East could be over soon G7 ready to act on oil surge but holds off tapping reserves (Reuters) – Oil prices ​plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session …

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Trump Weighs Easing Russia Sanctions, Other Measures to Cool Oil Prices

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

By Jarrett Renshaw Trump weighs steps to ease oil prices Options include Russia sanctions relief, G7 oil reserve release Strait of Hormuz disruptions limit immediate impact March 9 (Reuters) – U.S. President Donald Trump is considering easing oil sanctions on Russia and releasing emergency crude stockpiles as part of a package of options aimed at …

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US Considering Selling Oil From Strategic Reserve, US Energy Chief Says

Conventional Energy, Latest, Oil, US News / By

By Liz Hampton PLATTEVILLE, Colorado, March 9 (Reuters) – The U.S. is considering coordinating ​sales of oil from the U.S. Strategic Petroleum Reserve with ‌releases from other countries as prices soar during the war on Iran, Energy Secretary Chris Wright said on Monday. Wright also said the U.S. has “some other options” on allowing ​more …

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Back to the 1970s? Investors Brace for a Return of Stagflation

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Investors are now seriously considering the possibility that war in the Middle East could create a stagflationary shock, just as it did 50 years ago, when disruption to global energy supplies sent inflation surging, and battered growth “The risk of a 1970s scenario is rising,” said Kaspar Hense, portfolio manager at RBC BlueBay …

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Broad Agreement in G7 Not to Release Oil Reserves Just Yet, Says G7 Official

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

(Reuters) – There was broad agreement among the Group of Seven finance ministers on Monday not to release strategic oil reserves just yet, a G7 official said. G7 finance ministers held a teleconference earlier on Monday to discuss a response to the overnight surge in oil prices caused by the U.S.-Israeli war on Iran. They …

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Trump Reviews Options to Curb Energy Prices as Iran Strikes Roil Markets

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. President Donald Trump is expected to review as early as Monday a set of options to tame oil prices, which have spiked to more than $100 a barrel due to the Iran war, according to two people familiar with the matter. The effort reflects White House worries that the surge in oil …

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Putin Says the Energy Crisis Has Arrived, Russia Ready to Work With Europe

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

(Reuters) – Russian President Vladimir Putin said on Monday that the Iran war had triggered a global energy crisis and cautioned that oil production dependent on transport through the Strait of Hormuz could soon come to a complete halt. Putin, though, signalled again that Russia was ready to supply oil and gas to Europe. Russia …

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Qatar Said to Push LNG Expansion to 2027 After Iran Drone Attack

Conventional Energy, Latest, LNG, US News / By

By Salma El Wardany and Stephen Stapczynski QatarEnergy is pushing back the start of a major liquefied natural gas expansion project to at least 2027 after a drone attack last week that forced the unprecedented closure of its Ras Laffan plant. Production from the North Field East facility will now target its first export early …

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