Tag: energy
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Oil drifts lower as Strait of Hormuz reopens, focus shifts to demand outlook
With immediate supply fears fading and tanker traffic returning to the Strait of Hormuz, traders are turning their attention back to oil demand and OPEC’s outlook for the market.
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U.S. Navy ends blockade of Iran’s ports and coastal areas, CENTCOM says
The Navy on Thursday lifted its blockade of Iran’s ports and coastal areas at the direction of President Donald Trump.
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Oil nations on edge in the face of new climate coalition
Even amid an ongoing energy crunch, major economies are dodging firm timelines to phase out coal, oil and gas. Fossil fuel-producing nations now fear new clean energy alliances could ramp up the pressure to go green.
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OPEC chief dismisses IEA supply glut forecast as ‘critical’ Strait of Hormuz reopens
The IEA said on Wednesday that a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year.
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Three Saudi oil tankers carrying 6 million barrels cross Strait of Hormuz
The Saudi tankers switched their transponders on Thursday after hiding their location for more than two months.
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Gas prices fall below $4 per gallon as oil supply fears ease after Iran deal
Gas prices are still 30% higher compared to what drivers paid before the U.S. and Israel attacked Iran on Feb. 28.
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Why the oil may start flowing through the Strait of Hormuz faster than many believe
Brian Sullivan’s direct conversations with industry executives and experts based both here and in the Middle East indicate ships will start steaming.
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Strait of Hormuz reopening may take weeks to ease shipping backlog and oil pressure
The Strait of Hormuz is set to reopen after Iran and the U.S. sign a peace deal, but experts warn backlogs and security checks could delay normal shipping.
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China to return as a major oil buyer in August, JPMorgan says, naming its top stock picks
The pullback in oil imports by the world’s largest oil importer has helped absorb the global energy shock and cap the surge in oil prices since the war began.
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Iran to define Strait of Hormuz administration with Oman and Gulf states, senior U.S. officials say
Senior U.S. officials disclosed the contents of the memorandum of understanding with Iran. The MOU pledges 60 days of toll-free shipping in the Strait of Hormuz.
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