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War in the Middle East is spurring interest in Asia for gas from the $44 billion Alaska LNG project, top executives of lead developer Glenfarne said, who aim to make final investment decisions this year and next, and start shipping LNG in 2031. Final go-aheads for the project’s pipeline and export terminal have been delayed …
Summary Reports of resolution, continued fighting move prices US measures aimed at easing supply tightness Disruption of trade through the strait continues (Reuters) – Crude futures climbed higher on Friday as the Strait of Hormuz remained closed, but analysts were wary the weekend might bring surprise changes in the status of the war two weeks after it …
Crude Futures Turn Positive on Continued Hormuz Closure Read More »
Summary US puts forward measures aiming to ease supply tightness Disruption of trade through Strait of Hormuz continues Goldman expects Brent will average over $100 a barrel in March (Reuters) – Oil prices dipped on Friday, but were on track for weekly gains as Gulf disruptions from the Middle East conflict outweighed U.S. and International …
Oil on Track for Weekly Gains Despite US Sanctions Waiver on Russian Oil Read More »
Summary Iranian boats attacked two tankers in Iraqi waters, port officials said Shipping through Strait of Hormuz still halted IEA proposed release of 400 million barrels may offer only limited relief, analysts say (Reuters) – Oil prices rose sharply on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, …
Oil Jumps 5% as Iran Escalates Attacks on Gulf Shipping Read More »
Summary Three more vessels hit in Strait of Hormuz Fourteen ships struck since Iran war began IEA proposes release of 400 million barrels of oil Analysts call release insufficient to ease supply woes US crude stocks up more than expected; fuel stocks drop (Reuters) – Oil prices settled up nearly 5% on Wednesday as fresh …
Oil Settles up Nearly 5% as Supply Fears Mount Despite Record Stocks Release Plan Read More »
Summary WSJ reports IEA proposed largest-ever release of oil reserves France to host G7 leaders call on Wednesday U.S. crude, gasoline and distillate stocks fell last week March 11 (Reuters) – Oil prices rebounded on Wednesday as markets doubted whether the International Energy Agency’s reported plan for a record release of oil reserves could offset …
Oil Shrugs Potential IEA Reserves Release, Gains on Supply Worries Read More »
Summary Oil prices fall after topping $119 a barrel on Monday Trump predicted the war in the Middle East could be over soon G7 ready to act on oil surge but holds off tapping reserves (Reuters) – Oil prices plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session …
Oil Sinks 7% as Trump Predicts Middle East De-Escalation Read More »
Summary Brent, WTI hit highest levels since July 2022 Brent jumps as much as 29%, WTI surges up to 31% Iraq, Kuwait cut oil output Iran names hardliner Mojtaba Khamenei as new supreme leader (Reuters) – Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major …
(Reuters) – U.S. crude futures rose more than 20% in early trade on Monday, hitting their highest since July 2022, as the expanding U.S.-Israeli war with Iran fuelled fears of tighter supply and prolonged disruptions to shipments through the Strait of Hormuz. U.S. West Texas Intermediate (WTI) crude futures gained as much as $20.34 a …
(Reuters) – Barclays said on Friday that Brent crude could potentially test $120 a barrel if the Middle East conflict persists for another couple of weeks. “These numbers might seem too high, especially given widespread pessimism about the oil market outlook heading into this year, but we reiterate that fundamentals are stronger and risks are …
Barclays Says Brent Could Test $120/bbl if Middle East Tensions Persist Read More »
