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Fate of Iran Peace Talks Uncertain as Deadline Approaches for End of Ceasefire

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(Reuters) – Iran is considering attending peace talks with the United States in Pakistan, a senior Iranian official told Reuters on Monday, following moves by Islamabad to end a U.S. blockade of Iran’s ports, a major hurdle for Tehran to rejoin peace efforts. However, the official stressed that no decision had been made. Adding to …

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Kuwait Declares Force Majeure on Oil Shipments Amid Hormuz Blockade, Bloomberg News Reports

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

(Reuters) – Kuwait has declared force majeure on shipments of crude oil and refined products after a blockade of the Strait of Hormuz prevented some vessels from entering the Persian Gulf, hindering its ability to meet certain customer commitments, Bloomberg News reported on Monday, citing a document. State-run Kuwait Petroleum Corp. notified customers on Friday …

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Shipping Traffic Remains at Virtual Standstill Through Hormuz, Data Shows

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

Shipping traffic through the Strait of Hormuz remained at a virtual standstill on Monday with just three crossings in the space of 12 hours, according to shipping data. The oil products tanker Nero, which is under British sanctions for Russian oil activities, left the Gulf and was sailing through the Strait, according to satellite analysis …

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Iraq Says Oil Exports to Resume From All Fields Within Days, State News Agency

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

Iraq says oil exports to resume from all fields within days, state news agency Iraq’s oil ministry said oil exports would resume from all fields within the next few days, the Iraqi state news agency INA reported on Saturday. Four energy sources said that Iraq resumed southern oil exports on Friday after a halt of …

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Ships Test Strait of Hormuz After Opening, Seek Assurances on Safety

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By Jesus Calero and Gus Trompiz Threat of mines not fully understood, US Navy advisory warns Norway shippers also flag uncertainty over mines UN’s IMO says currently verifying details A group of ships tests Hormuz exit PARIS, April 17 (Reuters) – A group of ships made an unsuccessful attempt to exit the Gulf on ‌Friday …

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Traders Place $760 Million Bet on Falling Oil Ahead of Hormuz Announcement

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

(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 …

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How 50 Days of the Iran War Led to the Loss of $50 Billion Worth of Oil

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

(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 …

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Reactions of Industry and Leaders to Iran Saying Hormuz is Open

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(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 …

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Slovakia to File Lawsuit Over EU’s Russian Gas Ban, PM Says

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

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 …

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European Oil Majors Outshine US Rivals With Iran War Trading Bonanza

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Gasoline, Latest, Oil / By

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 …

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