CDN and International News

(Reuters) – Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60% in the week to March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations. The effective closure …

Middle East Oil Exports Drop at Least 60% as Hormuz Stays Mostly Closed, Data Shows Read More »

By Gianluca Lo Nostro and Robert Harvey IEA’s 400 million barrel release calmed markets, Birol says IEA warns of prolonged disruptions to global energy trade Oil-importing emerging economies in Asia hit ​hardest by oil supply shock PARIS/LONDON, March 16 (Reuters) – The International Energy Agency’s ‌member countries could release more oil into the market from …

IEA Could Release More Oil Stocks if Needed, Agency Chief Says Read More »

By Rong Wei Neo, Robert Tuttle, and Alex Longley Global oil markets face another week of turmoil after a US attack on Iran’s main export hub heightened risks to supply across the Middle East, and deepened concerns over a conflict that’s already upended energy flows. President Donald Trump said late on Friday that US forces …

Oil Market Set for Tumultuous Week as Kharg Attack Raises Stakes Read More »

(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 »