(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 …
Putin Says the Energy Crisis Has Arrived, Russia Ready to Work With Europe Read More »
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 …
Qatar Said to Push LNG Expansion to 2027 After Iran Drone Attack Read More »
By Gavin Maguire LITTLETON, Colorado, March 9 (Reuters) – The sudden stoppage of LNG exports from Qatar – the world’s second-largest exporter in 2025 – has sent natural gas prices soaring by 50% from year-ago levels across Europe and Asia and has prompted panicked buyers to seek out replacement cargoes. However, a shortage of available …
COMMENTARY: Tracking LNG Flows as Key Global Gas Prices Go Haywire Read More »
By America Hernandez PARIS, March 9 (Reuters) – The Group of Seven countries are considering releasing emergency oil stocks to address the Middle Eastern supply crisis, the International Energy Agency said on Monday, as oil prices surged to as high as almost $120 per barrel. IEA member countries that are net oil importers are required …
How Much Oil Do G7 Countries Hold in Emergency Reserves? Read More »
(Reuters) – Saudi oil giant Aramco has begun cutting output at two of its oilfields, two sources said on Monday, after the vital Strait of Hormuz was choked by the U.S.-Israeli war on Iran and subsequent attacks on the waterway. It was not immediately clear at which fields and by how much production was being …
Saudi Aramco Reducing Output at Two Oilfields, Two Sources Say Read More »
Oil prices have soared while share markets have skidded on fears that the escalating U.S.-Israeli war on Iran will squeeze energy supplies and hamstring industries around the world. Following are actions that governments are taking or plan to take to reduce the impact of the war on their economies. SOUTH KOREA PLANS FUEL CAP South …
Governments’ Actions in Response to Oil Price Surge and the Middle East Conflict Read More »
A look at the day ahead in European and global markets from Wayne Cole. OK, so this is shaping up as a proper global energy shock, like the 1970’s version. Though it is unique in being by choice, or at least the choice of one man. Brent cleared $100 at the open and never looked …
Jamie McGeever (Reuters) – Oil prices surged 30% last week and swathes of global stocks sold off as war in the Middle East escalated, yet an air of complacency hung over Wall Street. Investors have likely been betting that the turmoil will have a short-lived, mild economic impact, much like most crises in the recent past. Is …
Wall Street’s Immunity to Mideast Oil Shock Will Now Be Tested Read More »
Mounting miscalculations and a retreat to narrow self-interest by major countries, including the United States and China, are threatening to turn the current conflict in Iran into a global crisis for the supply of refined oil products. Much of the media focus tends to be on the price of crude oil, with benchmark Brent crude …
Summary Brent, WTI hit highest levels since July 2022 Brent jumps as much as 29%, WTI surges up to 31% Iraq, Kuwait cut oil output Iran names hardliner Mojtaba Khamenei as new supreme leader (Reuters) – Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major …
