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Iran Could Disrupt the Strait of Hormuz With Drones for Months

CDN and International News, Latest / By

By Anna Hirtenstein, Andrew Mills and Jonathan Saul Iran’s drone production capacity is around 10,000 per month Iran’s missile stockpile estimates vary widely, affecting conflict duration Sea mines could prolong disruption in the Strait of Hormuz Drone attacks have penetrated Gulf states’ air defences March 4 (Reuters) – Iranian drone attacks could disrupt the Strait …

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COMMENTARY: Charting the Widening Impact of the Iran Crisis on Energy Markets

CDN and International News, Energy Commentary, Energy Topics & Technology, Gasoline, Latest / By

LITTLETON, Colorado, March 5 (Reuters) – The repercussions of the ongoing U.S.-Iran war are being felt across the world, with U.S. fuel prices, European natural gas costs and Asian tanker freight rates all jumping sharply since strikes began at the weekend. The transmission of market jitters through the shipping, fuel and power sectors illustrates how …

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COMMENTARY: Jet Fuel’s Huge Price Surge Points to Coming Pain From Iran war

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LAUNCESTON, Australia, March 5 (Reuters) – The explosion in jet fuel prices in Asia is an early indicator that the economic pain of the war in the Middle East is about to become reality for energy consumers. Jet fuel prices in Asia’s ​trading hub Singapore rocketed 72% to $225.44 a barrel on Wednesday, a record …

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Europe Faces Gas Storage Scramble as Iran Conflict Tightens Supply

CDN and International News, Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, LNG, Natural Gas / By

By Nora Buli Europe’s gas storage at 5-year low Refilling will require extra 180 LNG cargoes y/y Iran conflict cuts supply, lift prices European benchmark gas at highest since early 2023 OSLO, March 5 (Reuters) – Europe’s already huge task of refilling gas storage for next winter has suddenly become far riskier and far more …

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Putin Suggests Russia Could Stop Supplying Gas to European Markets Now

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

(Reuters) – Russian President Vladimir Putin suggested on Wednesday that Russia could stop supplying gas to European markets now and move to more promising markets. The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary’s parliamentary election, according to EU officials and a document …

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Qatar Shuts Gas Liquefaction, Will Take Weeks to Restart, Sources Say

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

(Reuters) – Qatar will fully shut down gas liquefaction on Wednesday and won’t be able to return to normal production and export levels of super-chilled gas for at least a month, two sources familiar with the matter said. Qatar Energy, which stopped producing gas this week and declared force majeure on exports on Wednesday, did …

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Gas Giant QatarEnergy Throttles LNG Supply by Declaring Force Majeure

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

(Reuters) – QatarEnergy has declared force majeure on shipments of liquefied natural gas, it said in a statement on Wednesday, after attacks on its production facilities amid the U.S.-Israeli war on Iran. The state-owned company said on Monday it was halting production of LNG and associated products due to attacks on facilities in the Ras …

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Oil Seen Elevated as Hormuz Risks Intensify Amid Iran Conflict, Analysts Say

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

(Reuters) – Oil prices are expected to remain elevated in the near term as traders weigh the risk of supply disruptions through the Strait of Hormuz, a chokepoint for more than 20% of global oil supply, amid the widening Middle East conflict. Israeli and U.S. strikes on Iranian targets have led to attacks across the …

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Iran Intelligence Operatives Signalled Openness to Talks With CIA to End War, NYT Reports

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(Reuters) – Operatives from Iran’s Ministry of Intelligence signalled openness to the U.S. Central Intelligence Agency (CIA) to talks on ending the war, the New York Times reported on Wednesday, citing officials briefed on the matter. The offer was made through an unnamed country’s spy agency, the NYT said, citing Middle Eastern officials and officials …

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Canadian East Coast Bay du Nord Oil Project Hits Key Milestone as Newfoundland and Labrador, Equinor Sign Agreement

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

A proposed deepwater oil project off the Canadian east coast reached a key milestone Tuesday as the Newfoundland and Labrador government signed an agreement with Equinor on how to divvy up the development’s anticipated rewards. Premier Tony Wakeham received several standing ovations as he unveiled the benefits agreement for the Bay du Nord project at …

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