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Oil
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Former U.S. President Donald Trump praised the UK's North Sea oil drilling efforts, calling for "full speed ahead" and to "tear down the expensive and ridiculous windmills."
Former U.S. President Donald Trump praised the UK's North Sea oil drilling efforts, calling for "full speed ahead" and to "tear down the expensive and ridiculous windmills."
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Macquarie Oil Traders Leave as Bank Restructures Commodity Units
Macquarie Oil Traders Leave as Bank Restructures Commodity Units
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Gulf oil exports surpass pre-war levels despite Hormuz attacks, averaging over 24M bpd: WSJ Report
According to The Wall Street Journal, citing ship-tracking firm Kpler, oil exports from the Gulf region averaged over 24 million barrels per day (bpd) in the week ending October 18, exceeding the 23.3
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U.S. Treasury Secretary Scott Bessent stated that Iranian oil shipments have completely ceased, and economic hardship is imminent.
U.S. Treasury Secretary Scott Bessent stated that Iran's oil shipments have completely ceased, and the U.S. expects imminent economic hardship for Iran. This statement comes as the U.S. continues to e
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Iran's Revolutionary Guard stated that the Strait of Hormuz is closed, denying U.S. claims about oil shipments and adding that "smuggling" oil by small vessels does not mean the passage is open.
Iran's Revolutionary Guard stated that the Strait of Hormuz is closed, denying U.S. claims about oil shipments and adding that "smuggling" oil by small vessels does not mean the passage is open.
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U.S. Senator Rubio: Oil volume through the Strait of Hormuz is almost at pre-war levels.
U.S. Senator Rubio: Oil volume through the Strait of Hormuz is almost at pre-war levels.
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U.S. Envoy Tom Barrack: The U.S. is withdrawing from "oil for security" relationships, not the Middle East, re-evaluating its role after 23 regime changes.
Senior U.S. diplomat Tom Barrack stated at the Doha Global Security Forum that the United States is moving away from its traditional "oil for security" relationship with the Middle East and no longer
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Russian oil exports fell to a one-month low last week, as the key Baltic port of Primorsk suspended operations for maintenance.
Russian oil exports fell to a one-month low last week, as the key Baltic port of Primorsk suspended operations for maintenance.
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Iraq's Oil Minister: Oil exports have risen to over 3.4 million barrels per day since October, via three routes including the Strait of Hormuz.
Iraqi Oil Minister Basim Mohammed Khudair told the Iraqi News Agency that Iraq's oil exports have risen to over 3.4 million barrels per day since early October. He added that these shipments are trans
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The Iran conflict has prompted global buyers to seek alternative oil supplies, driving a surge in investment and production among oil-producing nations in the Americas.
The Iran conflict has prompted global buyers to seek alternative oil supplies, driving a surge in investment and production among oil-producing nations in the Americas.
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Bloomberg reports that Iran's main oil terminal has been continuously empty for weeks, further indicating that the US naval blockade is stifling its exports.
Bloomberg reports that Iran's main oil terminal has been continuously empty for weeks, further indicating that the US naval blockade is stifling its exports.
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Analyst Warns: Saudi "Shock Absorber" Fails, Gulf Energy System Reconstruction May Take 10 Years, Global Diesel Shortfall Reaches 3 Million BPD
Renowned energy analyst Karl Miller's latest assessment indicates that Saudi Arabia's role as a "shock absorber" in the global oil market is coming to an end. The reconstruction cycle for the Gulf ene
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Saudi military states it intercepted multiple missiles flying over the Red Sea, including one targeting the Yanbu oil terminal.
Saudi Arabia's military spokesperson stated that several missiles flying over the Red Sea were intercepted on Friday, with one heading towards the Yanbu oil export terminal. Additionally, Saudi Arabia
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Russian Deputy Prime Minister Novak warned: If the Strait of Hormuz remains blocked, the global oil market will face a deficit of 4 to 6 million barrels per day, and oil prices may rise further.
Russian Deputy Prime Minister Alexander Novak stated that the global oil market is facing a supply deficit of approximately 4 to 6 million barrels per day. He warned that oil prices would remain high
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IEA Report: Global Onshore Oil Inventories Fall to Near Decade Low, Potentially Hindering Inflation Relief and Impacting Bitcoin
Global onshore oil inventories are estimated to have fallen by 113 million barrels in September, nearing their lowest levels since 2016, according to an International Energy Agency (IEA) report on Oct
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U.S. Secretary of State Marco Rubio to visit Indian billionaire Ambani's Reliance refinery in Gujarat from Oct. 17-22 as U.S. diesel prices surge
U.S. Secretary of State Marco Rubio is scheduled to visit the world's largest oil refinery in Jamnagar, India, owned by Mukesh Ambani's Reliance Industries, between October 17 and 22. The visit comes
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Record number of attacks on ships in the Strait of Hormuz, oil exports slow to 12.6 million bpd
According to BBC Verify's analysis of UK maritime agency data, 12 vessels were attacked in the Strait of Hormuz and surrounding areas between October 5 and 11, marking the highest weekly total since t
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Syria: Two Pipelines Damaged. The Baniyas-Homs oil pipeline experienced a leak linked to an attempted fuel theft, and the Jbessa gas pipeline was damaged by an explosion.
Syrian state media reported that two of the country's natural gas and oil product pipelines were damaged in two separate incidents, the latest in a series of suspected sabotage attacks on Syria's ener
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Elon Musk reposts a tweet, commenting that China’s dependency on oil is dropping fast
Elon Musk reposts a tweet, commenting that China’s dependency on oil is dropping fast
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The IEA confirmed it has released 330 million barrels of oil reserves and agreed to accelerate the release of the remaining 100 million barrels to address supply disruptions caused by the Iran war.
The International Energy Agency (IEA) has confirmed the release of approximately 330 million barrels of emergency oil reserves. This is part of an agreement reached in March, when member countries agr
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IEA: Oil Releases Announced in March Will Exceed 400 Million Barrels; Member Countries Ready for Further Action in Global Markets
The IEA stated that oil releases announced in March will exceed 400 million barrels, and IEA member countries are willing to take further action in the global market.
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IEA agrees to complete release of outstanding 100M barrels of oil
IEA agrees to complete release of outstanding 100M barrels of oil
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Iran's Army Navy says a 'violating' oil tanker is on fire in the eastern part of the Strait of Hormuz, according to state media.
Iran's Army Navy says a 'violating' oil tanker is on fire in the eastern part of the Strait of Hormuz, according to state media.
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US tells IEA nations it is unhappy with emergency oil release, suggests supplementing with an extra 100M bbl
US tells IEA nations it is unhappy with emergency oil release, suggests supplementing with an extra 100M bbl
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Iranian Foreign Minister Araghchi stated that U.S. engagement is a "positive step," and the implementation period for the Strait of Hormuz opening plan has been shortened to 2 days.
Iranian Foreign Minister Araghchi told Al Jazeera that the US attempt to open dialogue was a "positive step," but there were no plans to meet with US officials at present. He noted that the implementa
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Russia's Novak says attacks on oil refineries will have negative impact on diesel fuel supplies to global market
Russia's Novak says attacks on oil refineries will have negative impact on diesel fuel supplies to global market
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Strait of Hormuz tensions persist: Iran claims multiple oil tankers struck by mines, destroys enemy unmanned vessel; Oman Navy rescues crew.
Al Jazeera's latest report indicates that Iranian authorities have reported multiple incidents recently in and around the Strait of Hormuz. The Islamic Revolutionary Guard Corps Navy stated that it pr
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Iran suspected of tactical shift, attacking oil tanker with limpet mines in Strait of Hormuz on Thursday, first time since 2019.
Iran suspected of tactical shift, attacking oil tanker with limpet mines in Strait of Hormuz on Thursday, first time since 2019.
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Financial Times: ExxonMobil and Chevron Post Huge Profits, Warn on Diesel Supply, Attributing It to Trump's War in Iran Driving Up Refining Margins
The Financial Times reported that U.S. oil giants ExxonMobil and Chevron announced massive profits and issued warnings about diesel supplies. The report noted that U.S. oil companies are profiting fro
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Chinese state-owned oil giants improve profits, gaining more "firepower" to boost energy security
Chinese state-owned oil giants improve profits, gaining more "firepower" to boost energy security
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Houthi rebels claim responsibility for attacks on six Saudi airports and oil facilities, including the Ras Tanura and Abqaiq refineries.
The Houthi movement claimed responsibility for attacks on six airports and oil facilities in Saudi Arabia, including the Ras Tanura and Abqaiq refineries. This attack occurred earlier this week after
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Iran's IRGC says four tankers struck naval mines in Strait of Hormuz after using "unauthorised" routes
Iran's IRGC says four tankers struck naval mines in Strait of Hormuz after using "unauthorised" routes
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EU Energy Commissioner warns: No oil and gas shortages expected, but rising prices will make it difficult for citizens to pay bills this winter.
EU Energy Commissioner Dan Jorgensen warned that while oil and gas supply shortages are not expected, rising prices will make it difficult for many EU citizens to pay their bills this winter. Followin
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ExxonMobil and Chevron have withdrawn from next month's Abu Dhabi oil conference due to escalating security concerns in the Middle East.
ExxonMobil and Chevron have withdrawn from next month's Abu Dhabi oil conference due to escalating security concerns in the Middle East.
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IRGC says 3 tankers caught fire in Strait of Hormuz after hitting mines, warns shipping operators
Three tankers have caught fire while passing through the Strait of Hormuz after hitting mines over the past 24 hours, according to the Islamic Revolutionary Guard Corps (IRGC) Navy. The IRGC navy says
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SK Innovation's Q3 operating profit surges 532.5% to $2.3 billion on strong oil, lubricants margins
SK Innovation's Q3 operating profit surges 532.5% to $2.3 billion on strong oil, lubricants margins
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President Trump announces the arrival of the first one million barrels of oil in Texas, secured through a historic deal with Venezuela, stating it gives the US control over a massive part of the world's oil supply.
President Trump announced yesterday in Corpus Christi, Texas, the arrival of the first one million barrels of oil secured by his administration as part of a historic deal with Venezuela. This oil, arr
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Donald Trump will announce a relaxation of regulations on methane leaks from oil companies, according to The Washington Post.
Donald Trump will announce a relaxation of regulations on methane leaks from oil companies, according to The Washington Post.
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According to the Financial Times, Washington is discussing deals between US oil majors and Russia in Ukraine peace talks.
According to the Financial Times, Washington is discussing deals between US oil majors and Russia in Ukraine peace talks.
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Saudi Aramco is offering spot crude oil to European buyers for this month and next to compensate for supply losses caused by the shutdown of a key export pipeline.
Saudi Aramco is offering spot crude oil to European buyers for this month and next to compensate for supply losses caused by the shutdown of a key export pipeline.
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Trump: We're going to accept 1 million barrels of oil
Trump: We're going to accept 1 million barrels of oil
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Donald Trump stated that he believes he will visit an oil tanker carrying Venezuelan oil in Texas, and that he thinks Rubio will accompany him.
Donald Trump stated that he believes he will visit an oil tanker carrying Venezuelan oil in Texas, and that he thinks Rubio will accompany him.
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Russian oil exports reached a one-month high, primarily due to a strong rebound in shipments from the Baltic port of Primorsk last week, though this was not enough to boost overall four-week flows.
Russian oil exports reached a one-month high, primarily due to a strong rebound in shipments from the Baltic port of Primorsk last week, though this was not enough to boost overall four-week flows.
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Iran’s Persian Gulf Strait Authority said it would take “legal action” against tankers belonging to Sinokor, the world’s biggest oil tanker owner that has carried millions of barrels out of the Strait of Hormuz in recent weeks.
Iran’s Persian Gulf Strait Authority said it would take “legal action” against tankers belonging to Sinokor, the world’s biggest oil tanker owner that has carried millions of barrels out of the Strait
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OPEC+ is expected to maintain its oil output targets at Sunday's meeting, sources said.
OPEC+ is expected to maintain its oil output targets at Sunday's meeting, sources said.
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Saudi Arabia has brought a fire under control following an attack near the Ras Tanura oil hub.
Saudi Arabia has brought a fire under control following an attack near the Ras Tanura oil hub.
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Venezuelan opposition leader Maria Machado has returned to the country after 10 months in exile
Venezuelan opposition leader Maria Machado has returned to the country after 10 months in exile, having previously been blocked from returning multiple times by both the Venezuelan government and the
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Oil fell for a second day as intensified diplomatic efforts eased concerns about a potential escalation of the U.S.-Iran conflict.
Oil fell for a second day as intensified diplomatic efforts eased concerns about a potential escalation of the U.S.-Iran conflict.
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Oil
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