CDN and International News

(Reuters) – The United Arab Emirates’ daily oil output is down by more than half as the Iran conflict and the effective closure of the Strait of Hormuz forced state oil giant ADNOC to implement widespread production shut-ins, two sources told Reuters. The halt of commercial navigation through the critical maritime chokepoint, which is normally …

UAE Crude Output Falls by More Than Half as Hormuz Closure Forces Shut-Ins Read More »

The loss of as much as 20% of the world’s crude oil and refined fuels through the ongoing effective closure of the Strait of Hormuz gathers most of the media attention as the main fallout from the attack on Iran by the U.S. and Israel. But of more pressing concern is the rapid tightening of …

Iran War Hits Refined Fuels Harder than Crude and Importers Need to Act: Russell Read More »

Oil loading operations at the United Arab Emirates’ Fujairah emirate, a major bunkering hub and crude export terminal, have resumed after a drone attack and fire on Saturday, four sources told Reuters, but it was unclear if the operations were back to normal. An Indian-flagged vessel loaded with 80,800 tonnes of United Arab Emirates’ Murban oil, …

Port of Fujairah Resumes Oil Loadings After Attack and Why it Matters Globally Read More »

(Reuters) – Russia sees a U.S. sanctions waiver on its oil as an attempt by Washington to stabilise global energy markets, and the two countries have a shared interest in this, Kremlin spokesman Dmitry Peskov said on Friday. The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products …

Kremlin Says Russia and US Share Interest in Stabilising Energy Markets Read More »

(Reuters) – Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed. Iran has exported about 13.7 million barrels of crude oil since Israel …

Iranian Oil Flows Through Strait of Hormuz Even as Gulf Neighbors’ Exports Shut Read More »