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Iran War: The Strait of Hormuz Oil Shock Is Now Heading West

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

By Alex Longley, Julian Lee, Alaric Nightingale, Kevin Crowley, Yongchang Chin, Sherry Su, Charles Gorrivan, Devika Krishna Kumar, Priscila Azevedo Rocha, John Ainger, Jorge Valero, Grant Smith, Bill Lehane, Lucia Kassai, Ruth Liao, Mia Gindis, Jack Wittels, Emma Sanchez, Rong Wei Neo, Maddie Parker, Tom Orlik, Reade Pickert, Mitchell Ferman, Stephen Stapczynski, Prejula Prem, Graphics by Tom …

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Brent Eyes Record Monthly Rise; US Crude Settles Above $100 as Houthis Join Iran War

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

By Siddharth Cavale Analysts flag concern over Saudi oil exports from Red Sea G7 nations are ready to take steps for energy stability NEW YORK, March 30 (Reuters) – Oil prices closed higher on Monday, with Brent heading for a record monthly rise, while U.S. crude futures settled above $100 a barrel for the first …

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Japan Asks G7 to Prepare More Measures to Stabilise Energy Markets

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

Japan called on the Group of Seven wealthy nations and the International Energy Agency to be ready to take further flexible measures to stabilise energy markets if the Iran war drags on, its industry minister said on Monday. Those actions could include additional coordinated oil stockpile releases at an appropriate time, Ryosei Akazawa told reporters …

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Shell Warns Australia Against Taxing LNG Windfall Profits

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

Shell says windfall taxes risk deterring future gas investment Australia’s LNG export revenues set to surge on supply shock SYDNEY, March 31 (Reuters) – Shell (SHEL.L) has warned Australia against ​introducing a windfall tax on gas exporters, saying such a move ‌would deter investment and undermine energy security as LNG prices surge following disruption to …

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What G7 Countries are Doing to Cap Energy Prices

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

BRUSSELS, March 30 (Reuters) – Energy prices around the world have soared after Iran closed the Strait of Hormuz in response to U.S.-Israeli attacks, leaving many Group of Seven and EU governments seeking ways to lessen the impact on their economies. Finance and energy ministers of ​the G7 – the United States, Canada, Japan, Britain, …

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EU Energy Ministers Seek to Coordinate Iran War Response

CDN and International News, Latest / By

By Kate Abnett Video conference planned for 1300 GMT Tuesday Focus on gas storage, stabilising oil product markets Alarm over tightening supplies of diesel and jet fuel BRUSSELS, March 30 (Reuters) – European Union energy ministers will hold talks on Tuesday to coordinate their response to the disruption to oil ​and gas markets triggered by …

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How Iran is Seeking to Cash in on Strait of Hormuz

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Tehran suggests system of charging fees and limiting passage to ‘non-hostile’ ships could endure beyond the war By Alice Hancock in Brussels and Najmeh Bozorgmehr in Tehran Original: financialpost.com/financial-times/iran-cash-strait-of-hormuz Iran is working to establish a system of approved passage for ships through the Strait of Hormuz, a tightening of control over the crucial waterway that …

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Escalation in Middle East Possible in Coming Days, Polish PM Says

CDN and International News, Latest / By

(Reuters) – There are reasons to believe that there could be an escalation in the conflict in the Middle East in the coming days, Polish Prime Minister Donald Tusk said on Friday. “I have reasons to believe, also based on information we’ve received from our allies, that stabilisation is unlikely in the coming days. On …

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LNG Supply Cut Further After Cyclone Hits Australian Plants

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

By Keira Wright, Paul-Alain Hunt, and Ruth Liao Three Australian plants that provide about 8% of the world’s liquefied natural gas have had their output curbed by a cyclone, in a further blow to mainly Asian buyers reeling from the halt of shipments from Qatar. Karratha, the onshore processing facility that feeds Woodside Energy Group …

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Brace for US$200 Oil if Iran War Lasts Until June, Macquarie Warns

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

Brent was last near US$110 a barrel on Friday, after touching a crisis-high of US$119.50 earlier this month By Rong Wei Neo Oil may hit a record US$200 a barrel if the Iran war drags on till June, with the Strait of Hormuz staying shut, Macquarie Group Ltd. said. A conflict that stretches through the …

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