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Never bet against Donald Trump? The oil market appears to have made a risky wager from day one of the Iran war: The U.S. president would not allow the conflict to spiral into a full-blown economic crisis. So traders wouldn’t price one in, no matter what was happening with physical supplies. It was a risky …
TACO CONFIRMED: Oil Markets Bet Trump Would Chicken Out on Iran. They Won: Bousso Read More »
Abu Dhabi National Oil Company (ADNOC) has sold at least 30 million barrels of spot crude to Asian refiners and trading firms so far this month and offered more this week, trade sources said, boosting exports during the U.S.-Iran ceasefire. The United Arab Emirates producer sold cargoes of Das, Upper Zakum and Umm Lulu …
ADNOC Sells at Least 30 Million Barrels Crude in Supply Boost, Sources Say Read More »
By Feras Dalatey, Jonathan Saul, Dmitry Zhdannikov and Edward Carron Summary Apache shot down by Iran on June 9 was involved in ship-to-ship transfer mission Convoys sail dark with disabled transponders, spacing departures 3,000-4,000 meters apart At least 92 ships have taken part since early May DUBAI, June 16 (Reuters) – The United States military has overseen scores of …
The US is Using an Iranian Smuggling Tactic to Sneak Oil Out of the Gulf Read More »
By EnergyNow Editorial Staff The U.S. Strategic Petroleum Reserve (SPR) is the world’s largest government-owned emergency crude oil stockpile. It was created after the 1973 Arab oil embargo to protect the United States from severe oil supply disruptions caused by wars, natural disasters, geopolitical crises, or major market shocks. The reserve is managed by the …
Summary Dubai crude benchmark’s premium slips back to pre-war levels Naphtha goes into contango, diesel and fuel oil backwardation narrows Margins for transport fuels retain strength on low stocks SINGAPORE, June 16 (Reuters) – Spot premiums for crude and some refined products in Asia have fallen back to pre-war levels following a U.S.-Iran deal to …
Summary Prices at three-month lows, but above pre-war levels Some analysts expect Hormuz flows to resume in several weeks U.S. is using an Iranian smuggling tactic to sneak oil out of the Gulf June 16 (Reuters) – Oil prices fell more than 2% on Tuesday to a fresh three-month low as markets weighed prospects for …
Oil Drops Over 2% to 3-Month Low as Markets Weigh US-Iran Peace Deal Read More »
The U.S.’s emergency oil reserve was already significantly depleted when Trump took office 16 months ago Bloomberg News The United States’s emergency supply of crude oil has fallen to its lowest level since 1983 as the Trump administration moves toward completing its plan to release 172 million barrels to ease surging fuel prices spurred by …
U.S. Oil Reserve Hits 43-Year Low as Trump Aims to Tame Prices Read More »
Citi on Monday cut its average Brent crude forecasts to $75 and $70 per barrel for the third and fourth quarters of 2026, respectively, citing expectations that the Strait of Hormuz trade flows will resume and normalize after the U.S. and Iran approved a memorandum of understanding to end the war in the …
Citi Cuts Brent Forecasts as U.S.-Iran MoU Points to Strait of Hormuz Flow Normalization Read More »
Ensuring the Strait of Hormuz is safe from mines could delay a return to normal shipping traffic by weeks following a deal to reopen the waterway, shipping and maritime security sources say. The operation by conventional minesweepers and state-of-the-art underwater drones could continue for 40 to 50 days before many insurance, shipping or oil …
Scouring the Strait of Hormuz for Mines Could Take Weeks Read More »
The U.S.-Iran deal ending months of fighting and reopening the Strait of Hormuz will prompt a collective sigh of relief from energy exporters and importers alike. But the fragile calm may not prevent future flare-ups, casting doubt over how quickly – or fully – tanker traffic through the vital waterway can return to normal. …
Fragile Iran Deal Offers Oil Relief, but Hormuz Risks Remain: Bousso Read More »
