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Summary Brent and WTI at its highest level since mid June U.S. military renews strikes on Iran while tankers come under attack in Strait of Hormuz UAE says Iranian missiles struck oil tankers in Strait of Hormuz, one sailor killed China’s June oil imports hit near 10-year low amid Iran war (Reuters) – Oil …
Oil Hits Four-Week High as US-Iran Conflict Escalates Read More »
By Reuters (Reuters) – Chesapeake Utilities said on Monday its unit Peninsula Pipeline Company will develop, construct and operate a natural gas pipeline project in Florida for about $1.2 billion. The project will help expand natural gas transportation capacity to address regional supply constraints, it said. Utilities have been investing in new infrastructure to improve reliability and …
Chesapeake Utilities Unit to Build $1.2 Billion Florida Gas Pipeline Project Read More »
The U.S. military said on Saturday it launched a new round of strikes against Iran after Islamic Revolutionary Guard Corps forces attacked a Cyprus-flagged container ship transiting the Strait of Hormuz. “A civilian crew member is missing and the vessel is unable to continue the journey due to an onboard fire and significant engineroom …
US Says it Launched Strikes Against Iran After Attack on Cyprus-Flagged Container Ship Read More »
Crude prices may be back near levels seen before the Iran war, but the surge in oil exports from the Middle East following the reopening of the Strait of Hormuz is creating a chaotic market that could take months to settle. The steep slide in Brent crude back to pre-war levels of around $73 …
Hormuz Oil Exodus Sets Stage for Chaotic Rebalancing Act: Bousso Read More »
U.S. Vice President JD Vance said on Monday that he hopes text of an agreement to halt the war in Iran and open the Strait of Hormuz will be released this week, as further negotiations over the deal’s details were set to continue. In an interview on CNBC, Vance also said the United States expects …
Vance Says He Hopes to Release Text of Agreement to Halt War in Iran This Week Read More »
Summary HAPCO start-up pushed from mid-year to September or October, sources say PetroChina Dalian unit resumption postponed indefinitely China’s refining margins turn negative on high crude costs and fuel price caps India’s capacity expansion on track SINGAPORE, June 8 (Reuters) – Chinese refiners have delayed two projects slated to come online this year following disruptions …
Chinese Refiners Delay Projects with Middle East Oil Supply Disrupted Read More »
(Reuters) – Electricity demand in Texas grew 9% in recent months, nearly five times the U.S. average, driven by the expansion of data centers and cryptominers in the Lone Star State, according to data released by Hitachi Energy on Thursday. The Texas power grid saw the largest jump in both power demand and the addition …
Texas Power Demand Growth Nearly Five Times the Broader US, Report Says Read More »
Summary Brent and WTI register steepest weekly losses since April U.S.-Iran ceasefire deal not finalised U.S. crude, gasoline and distillate stockpiles fell last week, EIA reports (Reuters) – Oil futures fell nearly 2% on Friday and were on track for their steepest weekly decline since early April after reports that the U.S. and Iran had reached agreement …
Oil Prices Fall as Market Awaits Possible US-Iran Ceasefire Deal Read More »
The sudden ousting of BP Chairman Albert Manifold over allegations of misconduct less than eight months after he took office plunges the British energy giant into its second leadership scandal in less than three years. These repeated leadership misfires suggest BP’s board is quickly becoming a liability. His departure is related to aggressive conduct …
COMMENTARY: BP’s Board Snatches Defeat From the Jaws of Victory: Bousso Read More »
President Donald Trump said on Friday the U.S. Navy was acting “like pirates” in carrying out Washington’s naval blockade of Iranian ports during the U.S. and Israel’s war against Iran. Trump made the comments while describing the seizure by U.S. forces of a ship a few days ago. “We took over the ship, we took …
Trump Says US Navy Acting ‘Like Pirates’ to Carry Out Naval Blockade of Iranian Ports Read More »
