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The Iran War May Be Permanently Rewiring Global Energy Security

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

Cambridge Professor Helen Thompson warns that energy disruption triggered by the US-Israel attack on Iran is exposing deep vulnerabilities. The US-Israel war with Iran is emerging as more than a humanitarian crisis, one that’s left thousands of civilians dead and millions displaced. On this week’s Merryn Talks Money, Cambridge University professor Helen Thompson argues that the …

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OPEC+ Agrees to Boost Oil Output When Strait of Hormuz Reopens

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

Summary OPEC+ eight members to raise quotas by 206,000 bpd for May US-Iran war largely shuts oil traffic via Strait of Hormuz War leads to worst ever oil supply disruption Tanker loaded with Iraqi crude passes through Hormuz, data shows OPEC+ concerned about attacks on energy assets (Reuters) – OPEC+ agreed ‌on Sunday to raise …

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Japanese, French and Omani Vessels Cross the Strait of Hormuz

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

Summary Iran has said it would allow ships with no US or Israeli links Vessels appear to turn of identification systems during crossing Dozens ​of Japanese-owned ships remain stranded, according to transport ministry data (Reuters) – Three Omani-operated tankers, a French-owned container ship and a Japanese-owned gas carrier have crossed the Strait of Hormuz since …

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J.P. Morgan Warns Oil Could Top $150 if Disruptions Persist Into Mid‑May

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

April 2 (Reuters) – Oil prices could spike to $120-$130 per barrel in the near term, with a ​risk of surging above $150 if supply ‌flows through the Strait of Hormuz remain disrupted into mid-May, J.P. Morgan said in a note ​on Thursday. J.P. Morgan’s base-case assumption is ​that the disruption to the strait will …

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Bahrain Hopes for Vote on Revised Hormuz Resolution on Friday

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

(Reuters) – Bahrain’s Foreign Minister Abdullatif bin Rashid Al Zayani told the United Nations Security Council on Thursday he hopes for a council vote on Friday on a resolution Bahrain has drafted to protect commercial shipping in and around the Strait of Hormuz. Oil prices have surged since the U.S. and Israel struck Iran at …

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China’s Detentions of Panama-Flagged Vessels Raise Concerns, Rubio Says

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(Reuters) – Detentions of Panama-flagged vessels by China that followed a Panamanian court ruling raise serious concerns about efforts to undermine rule of law in the Latin American country, U.S. Secretary of State Marco Rubio said on Thursday. The U.S. Federal Maritime Commission said last week that it was closely monitoring a surge in detentions …

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First LNG Ship to Attempt Hormuz Exit Isn’t Carrying a Cargo

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

By Sing Yee Ong and Weilun Soon A liquefied natural gas tanker has entered the Strait of Hormuz, and if it successfully navigates the waterway would become the first such vessel to pass through the strait since the start of the war. The Sohar LNG tanker, which appears not to be loaded with cargo, is …

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UK to Host Talks With 35 Countries on Reopening Strait of Hormuz

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

Summary US will not be involved in talks Vital oil route effectively shut as Iran war rages Countries seek ways to reopen waterway after ceasefire (Reuters) – Britain will host talks ​on Thursday aimed at forming a coalition of countries to explore ways to reopen ‌the Strait of Hormuz after U.S. President Donald Trump said securing the …

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OPEC+ Likely to Weigh Further Oil Output Hike on Sunday, Sources Say  

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

(Reuters) – OPEC+ is likely to weigh a further oil output increase when eight members meet on Sunday, two OPEC+ sources said, a move that would position key producers to add more barrels should the Strait of ​Hormuz – the world’s most important oil route, currently shut by the U.S.-Israeli war with Iran – reopen. …

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Venezuela’s Oil Exports Surpassed 1 Million Bpd for the First in 6 months, Shipping Data Shows

CDN and International News, Latest, Oil / By

Reuters Venezuela’s monthly oil exports surpassed 1 million barrels per day in March for the first time since September, with sales to refiners in India and shipments by trading houses to the Caribbean for storage pushing up volumes, according to ship-tracking data. The OPEC country’s oil sales have been rising since Caracas and Washington in …

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