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By API – American Petroleum Institute The situation in the Middle East remains highly uncertain with renewed escalation, and energy markets continue to respond to each new development. Over the past several weeks, crude oil and gasoline prices have swung sharply higher and lower as markets reassess evolving geopolitical risks. Yet despite those twists and turns …
(Reuters) – President Donald Trump on Tuesday told reporters ahead of a meeting with Iraqi Prime Minister Ali al-Zaidi that the United States would be doing a lot of deals with Iraq and taking a lot of oil out of the country. “Iraq has tremendous potential because of their oil… and we’re going to be …
Trump Says US Will Be Doing a Lot of Deals With Iraq, Taking a Lot of Oil Out Read More »
(Reuters) – U.S. President Donald Trump on Tuesday dropped the idea of charging a 20% fee on all cargo shipped through the Strait of Hormuz, and said he would instead take trade and investment deals with the Gulf states. The change of plan comes a day after Trump proposed charging a 20% fee to guard …
Trump Drops 20% Fee Plan for Hormuz Strait in Favor of Deals With Gulf States Read More »
(Reuters) – Kazakhstan’s Justice Ministry said the operator of the Kashagan oilfield must pay an environmental fine of 2.3 trillion tenge ($4.89 billion) by July 20, but that the company has filed an arbitration claim challenging the penalty, Interfax reported on Tuesday. Interfax quoted Kazakh deputy justice minister Daniyel Vaisov as saying that the arbitration …
Kashagan Oilfield Operator Ordered to Pay $4.9 Billion Environmental Fine, Ifax Reports Read More »
WASHINGTON, July 13 (Reuters) – President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway. “The Hormuz Strait is OPEN, and will remain OPEN, with …
Trump: Iran Blockade Reinstated, US to Charge 20% on Strait of Hormuz Cargo Read More »
Story by Jennifer Lockett America’s emergency oil stockpile is shrinking at a pace that has turned a technical energy-policy decision into a North American power story. President Donald Trump’s 2026 Strategic Petroleum Reserve release was framed as a response to global supply pressure and Middle East instability, but the numbers reveal a deeper reality: …
President Donald Trump told reporters on Monday that the United States was attacking Iran’s capabilities related to the Strait of Hormuz, amid renewed military action between the two countries. The U.S. military said on Monday it was launching fresh strikes against Iran but Trump told reporters at the Oval Office on Monday that he had …
Trump Says US Attacking Iran Capabilities Related to Strait of Hormuz Read More »
U.S. President Donald Trump has sent Congress formal notification that hostilities against Iran resumed on July 7, a letter his administration sees as opening a new 60-day window to use the military in the region without congressional approval. “I directed this military action consistent with my responsibility to protect Americans and United States’ national …
Trump Sends Congress Formal Notice that Iran Conflict has Resumed Read More »
By Georgina Mccartney Both sides have renewed strikes Iran says will not allow Washington to intervene in the Strait of Hormuz Cargo traffic had already begun to slow as tensions had increased HOUSTON, July 13 (Reuters) – Oil prices jumped more than 5% on Monday after U.S. President Donald Trump said the United States was …
Oil Gains Over 5% as Trump Says US Reinstating Iran Naval Blockade Read More »
(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 3 million barrels last week to 316.5 million barrels, the lowest level since April 1983, according to data from the Department of Energy. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility. …
Crude Stocks in US Strategic Reserve Fall 3 Million Barrels to Lowest Level Since 1983 Read More »
