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Ukrainian forces have stepped up strikes on Russian energy infrastructure and other sites in what Kyiv says is an effort to deprive Russia of resources to fund its military. Following is a summary of the attacks — starting with the most recent — and their impact: ORSK The Ukrainian military said on Tuesday it had …
Ukraine’s Attacks on Russian Energy Sites – What Has Been Hit? Read More »
Shipping traffic through the Strait of Hormuz fell to six on Monday, compared with a 10-day average of about 11 vessels, shipping data showed, amid fading hopes of a peace deal between the U.S. and Iran. Four commodity vessels, including two empty oil product tankers, entered the waterway, data from Kpler showed on Tuesday as …
Gulf Shipping Traffic via Strait of Hormuz Falls to Six Vessels Read More »
Gasoline at $38 a gallon sold from cramped apartments. Diesel hawked on Instagram by a celebrity model to a reggaeton soundtrack. Six decades after Fidel Castro’s revolution, all of a sudden, capitalist cracks are appearing in Cuba’s communist energy sector. Under Washington’s crippling oil embargo against Cuba, an exception that allows U.S. firms to export …
US Fuel Sales to Cuban Business Bring a Glimpse of Capitalism to Havana Read More »
Summary New terms require case-by-case review of individual voyages, White House official says Waiver was due to expire on August 16 without extension About 208 Jones Act exemptions were used in nearly 5 months, US data showed (Reuters) – President Donald Trump has extended for 90 days a waiver allowing foreign-flagged ships to transport oil …
Trump Extends Jones Act Waiver for 90 Days, Narrows Scope Read More »
By Bloomberg News Harry Sargeant III, a Florida energy tycoon who served as a longtime back channel between Washington and Caracas, agreed to sell his interests in Venezuela’s second-largest oil producer following a pressure campaign to force him out. Sargeant on Friday signed a $300 million deal to sell his offshore company, Bluewave Properties Ltd., …
Sargeant Said to Exit Venezuela Oil Stake Amid Pressure Campaign Read More »
(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 6.1 million barrels to 298.7 million barrels last week, the lowest level since January 1983, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. Reporting …
The US President is betting he can wait Iran out, prolonging uncertainty for oil markets. By Grant Smith In just over a week, Donald Trump has shifted from touting an imminent peace deal with Iran to adopting a “low key” attitude to negotiations. The US President signaled this weekend that he’s prepared to let economic …
Trump’s Low-Key Pivot Leaves Hormuz Oil in Limbo Read More »
By Menna Alaaeldin, Jonathan Saul and Kate Abnett First reported difficulty on June 8 off Yemen Grounded off Omani nature reserve Indications of a blast aboard, maritime security sources say Loaded with Russian crude bound for Asia Tanker subject to EU, other sanctions Aug 10 (Reuters) – Leaking crude oil from a tanker grounded off …
Oman Says Grounded Tanker Oil Spill Covers 400 Square KM Read More »
China is singlehandedly doing the heavy lifting of cutting crude oil demand in Asia to compensate for reduced shipments from the Middle East as a result of the Iran war. The world’s biggest oil importer reported arrivals of 8.41 million barrels per day (bpd) in July, up from the near decade low of 7.12 million …
COMMENTARY: China is Balancing Asia’s Crude Oil Demand by Itself: Russell Read More »
Summary ConocoPhillips targets $7 billion free cash flow growth by 2029 Expensive Alaska oil project accounts for large portion of FCF growth plan Recent share lag versus Exxon and Chevron reflects heavy spending, analyst says (Reuters) – Andy O’Brien will succeed longtime ConocoPhillips CEO Ryan Lance next month and will inherit a major Alaska …
