Energy
Canadian oil heads to Japan for the first time in over a year as Iran war tightens Middle East supplies - Reuters
Canadian oil heads to Japan for the first time in over a year as Iran war tightens Middle East supplies - Reuters
Energy
Energy
U.S. Backs Madagascar’s Rare Earths Project
The Trump administration has opened another front in the global rare earths race, backing a new project in Madagascar as Washington accelerates efforts to break China’s grip on the critical minerals that power everything from advanced weapons and AI infrastructure to oil refining and electric vehicl
Energy
US Oil Inventories Sag as Hormuz Turmoil Rages On
Crude oil inventories in the United States saw a decrease of 7.2 million barrels during the week ending July 24, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 404.5 million barrels, according to governm
Energy
Houthis Claim Attack on Saudi Oil Tanker in Red Sea
Yemen’s Houthis late on Tuesday claimed an attack on a Saudi oil tanker in the Red Sea, saying that the vessel had violated the blockade the Iran-aligned group announced last week on Saudi shipments in the Red Sea and Bab el-Mandeb Strait. “The Yemeni armed forces carried out a military operation ta
Energy
Iran Rejects Oman’s Proposal to Evenly Divide Hormuz Control
Iran has rejected a proposal from Oman to evenly share control of the lanes in the Strait of Hormuz, as Tehran demands it control most of the critical oil and LNG chokepoint, a senior Iranian official told Reuters on Wednesday, as strikes in the region reignited and dashed hopes for a quick return t
Energy
Oil rises as US-Iran tension escalates after Iraq strikes, missile attack - Reuters
Oil rises as US-Iran tension escalates after Iraq strikes, missile attack - Reuters
Energy
Oil Prices Ignore the Warning Signs in Physical Markets
Oil price movements since the start of March this year have become the topic of dozens of discussions. Many have been puzzled by futures prices and why they haven’t gone through the roof given the severe disruption in Middle Eastern supply. It appears the reason is sheer optimism and a bet on market
Energy
U.S. Sale Of Venezuela’s Oil Hits $13 Billion Since Trump’s Takeover
President Donald Trump revealed on Monday that sales of Venezuela’s oil by his administration have generated more than $13 billion since the capture of former President Nicolás Maduro on January 3, claiming that the revenue has effectively “paid for that war many times over”. Speaking to reporters
Energy
Why Did Trump Just Give Saudi Arabia the Fast Track to a Nuclear Weapon?
At the beginning of Donald Trump’s first term as U.S. President in 2017, a senior White House official commented off-the-record to OilPrice.com that: “We’re not going to put up with any more crap from the Saudis.” The comment had followed the end of the 2014-2016 Oil Price War that had seen the King
Energy
One Megabuyer—China—Finds a Way to Get Mideast Oil - WSJ
One Megabuyer—China—Finds a Way to Get Mideast Oil - WSJ
Energy
Escalating Protests in Libya Threaten Oil and Gas Supply
The anti-government protests in Libya over power cuts and high electricity bills over the past few days escalated on Tuesday, with protesters entering the Mellitah Oil and Gas complex and threatening to halt gas and fuel supplies for both the domestic and international markets. Libya’s capital Tripo
Energy
Indian Refinery MRPL Bars Crude Suppliers From Hormuz, Red Sea Routes
India’s Mangalore Refinery and Petrochemicals Ltd. (MRPL) has become the first Indian refinery to tell crude suppliers to avoid both the Strait of Hormuz and the Red Sea, inserting the restriction into a spot tender for up to 1 million barrels of crude. The tender seeks cargoes for delivery between