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(Reuters) – The Pentagon is looking at ways to escort ships safely through the Strait of Hormuz, U.S. Chairman of the Joint Chiefs of Staff General Dan Caine said on Tuesday. About a fifth of global oil and liquefied natural gas normally passes through the strait but Iran, which lies on its northern coast, has …
What are the Challenges in Securing Shipping Through the Strait of Hormuz? Read More »
Iran’s Revolutionary Guards said on Tuesday they would not allow “one litre of oil” to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting a warning from President Donald Trump that the U.S. would hit Iran much harder if it blocked exports from the vital energy-producing region. The heightened rhetoric did …
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 …
Aramco Sees ‘Catastrophic Consequences’ For Oil Markets if Hormuz Strait Remains Blocked Read More »
(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 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 »
Ron Wallace and Tammy Nemeth “Investors can’t ignore the commercial constraints imposed by the MoU. My concern is that the MoU does not address the key federal barriers that preclude a free-market approach to the energy industry. Key federal barriers have become conditional, reversible, or deferred.” Bryan Gould, Executive Chairman Aspenleaf Energy. As …
Iraqi oil production from its main southern oilfields has fallen by 70% to just 1.3 million barrels per day as the country is unable to export oil via the Strait of Hormuz due to the Iran war, three industry sources said on Sunday. Production from the fields stood at around 4.3 million bpd before the …
Iraqi Oil Production Collapses as Hormuz Still Blocked by US-Iran War Read More »
The war with Iran could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even if the week-old conflict ends quickly, as suppliers grapple with damaged facilities, disrupted logistics, and elevated risks to shipping. The outlook poses a wider global economic threat, as well as a political vulnerability for U.S. President …
Iran War Threatens a Prolonged Hit to Global Energy Markets Read More »
