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Middle East oil producers face a reckoning. The Iran war exposed the dangers of relying on a single chokepoint for vital oil and gas exports, leaving Gulf governments with a clear strategic imperative: diversify – at all costs. An Iranian blockade of the Strait of Hormuz had long been viewed as a “Doomsday” event that …
Gulf Exporters’ Quest to Bypass Hormuz Will Reshape the Region: Bousso Read More »
Summary Brent, WTI back to early-March levels US-Iran 14-point agreement extends April ceasefire for 60 days Market fundamentals expected to remain tight Ukraine hits Moscow refinery in major attack on Russian capital (Reuters) – Oil prices fell more than 1% on Thursday to their lowest since the first trading day of the Iran war, …
Oil Falls to Lowest Since Start of Iran War After Ceasefire Deal Signed Read More »
Summary Hormuz reopening to free millions of barrels of stranded non-Iranian oil Asian refiners already secured supplies for June to August Weak refining margins to weigh on fresh purchases (Reuters) – Middle Eastern crude oil prices are likely to fall if the Strait of Hormuz reopens on Friday following the U.S.-Iran interim deal, releasing …
Hormuz Reopening to Release Wave of Oil Supply, Depress Prices Read More »
API – American Petroleum Institute June 17, 2026 Energy supply matters, but so does the ability to move it where it’s needed. The disruption in the Strait of Hormuz has tested global energy markets and reinforced this important lesson. This week’s American Energy Snapshot explores one of the tools the U.S. government is using to …
How Jones Act Waivers Keep Energy Moving – API Feature Read More »
Reuters Activist investor TOMS Capital Investment Management has acquired a sizable stake in Devon Energy and is pressing the U.S. shale operator to sell assets or put itself up for sale, five people familiar with the matter said. Fresh from a $58 billion merger with Coterra Energy, which it completed in May, Devon is in …
Long-dated prices still support drilling as buyers seek alternatives to Middle East barrels. Just over a month ago, shale heavyweight Diamondback Energy Inc. announced the “light has turned green” for US production growth. With oil trading for more than $100 a barrel at that point as the war in Iran strangled supplies, crude buyers were looking to …
US Shale Stays in the Money Despite Oil Price Drop Read More »
U.S. crude oil and gasoline stockpiles fell last week, while distillate inventories rose, the U.S. Energy Information Administration said on Wednesday. Crude inventories fell by 8.3 million barrels to 418.2 million barrels in the week to June 12, the EIA said, compared with analysts’ expectations in a Reuters poll for a 4.6 million-barrel draw. …
US Crude and Gasoline Inventories Fell Last week, Distilltes Rose, EIA Says Read More »
While U.S. President Donald Trump has recently hailed the resumption of oil flows from Gulf allies, Iran, too, appears to be gearing up to resume exports and trading. At least three tankers carrying some five million barrels of Iranian oil have sailed through the U.S. naval blockade this week, shipping data shows, despite the U.S. …
While Trump Hails Gulf Oil Flowing, Iran’s Fleet Also Gearing Up to Boost Exports Read More »
The United Arab Emirates’ oil output could exceed 5 million bpd next year as it moves to expand production after its exit from OPEC, making it a major driver of non-OPEC+ supply growth, the International Energy Agency said on Wednesday, The UAE said its decision to leave OPEC, announced earlier this year, was aimed …
Summary Supply growth to outpace demand growth in 2027, IEA says Will offer chance to replenish depleted global inventories Gulf oil flows about 12 million bpd in early June (Reuters) – The oil market will move into a significant supply surplus in 2027 after recovering from the closure of the Strait of Hormuz, the International …
IEA Sees Significant 2027 Oil Surplus After Hormuz Recovery Read More »
