energy markets
27articles
Iranian Oil to China Nearly Dries Up as US Blockade Tightens
Independent Chinese refiners face a near-collapse in Iranian crude supplies as Washington's oil blockade tightens, pushing prices higher and squeezing Tehran's revenues.
China State Shippers Reroute Oil Tankers to Avoid Gulf Chokepoints
Chinese state-owned shippers are repositioning oil tankers outside the Persian Gulf as Iran's Hormuz closure forces the world's largest oil importer to adapt its supply chain.
OPEC Lowers 2026 Oil Demand Growth Forecast Again as Supply Risks Mount
OPEC lowers its 2026 oil demand growth forecast again as Red Sea supply disruptions mount and Iran deal talks show no progress, keeping markets caught between opposing forces.
Brent Crude Tops $90 as Iran-U.S. Deal Hopes Fade
Brent crude climbed above $90 per barrel Tuesday as stalled Iran-U.S. negotiations, a Houthi ship attack, and renewed Chinese demand combined to tighten global oil markets.
Russian Sanctions Tanker Spills Oil Off Oman, Slick Spreads Across Wide Area
A tanker operating under Western sanctions against Russia's oil trade has caused a major oil spill off Oman, with the slick spreading over a large stretch of the Arabian Sea, Reuters reported.
Turkey and Iraq Sign One-Year Oil Pipeline Deal
Turkey and Iraq have signed a one-year agreement to resume operations on the Iraq-Turkey Pipeline, reopening a crude export route through Ceyhan that has been shuttered since 2023.
Ukraine Strikes Major Russian Oil Refinery Hours After Zelenskyy-Trump Meeting
Ukraine struck a major Russian oil refinery hours after Zelenskyy's White House meeting with Trump, as Kyiv escalates its campaign against Russian energy infrastructure.
Iran Claims Control of Strait of Hormuz After Weekend Pause in Strikes
Iranian state media declared Monday that Tehran controls the Strait of Hormuz, the world's critical oil chokepoint, following a weekend lull in strikes.
China's Oil Output Hits Record High at 216 Million Tons
China's National Energy Administration reports crude oil production reached 216 million tons last year, a national record, as natural gas output also climbed substantially.
Brent Surges Past $86 After Iran Strikes UAE Tankers in Hormuz
Oil prices jumped 3% to a one-month high after Iranian forces struck two UAE-flagged tankers in the Strait of Hormuz, leaving one sailor dead and eight wounded.
OPEC Cuts 2026 Oil Demand Growth Forecast Again
OPEC again lowered its 2026 global oil demand growth forecast, a bearish demand signal landing just as conflict around the Strait of Hormuz drives supply-side anxiety higher.
Oil Jumps 3% as U.S.-Iran Strikes Escalate Over Hormuz
Crude oil surged more than 3 percent after the United States and Iran traded fresh strikes Sunday, with Tehran accusing Washington of breaching a June ceasefire pact.
Iraqi PM to Visit Washington Monday, Oil and Gas Deals on Agenda
Iraq's prime minister heads to Washington Monday to sign oil and gas memorandums of understanding with U.S. companies, as Iran's strikes on Gulf states reshape regional energy markets.
Hormuz Ship Traffic Falls Sharply After U.S.-Iran Strike Exchange
Shipping through the Strait of Hormuz has fallen steeply following this week's U.S.-Iran strike exchange, BBC data shows, with fewer vessels — many carrying oil and gas — transiting the waterway.
Oil Tops Two-Week High After U.S. Launches Fresh Strikes on Iran
Crude prices jumped more than a dollar per barrel after the U.S. launched fresh strikes against Iran, exposing market complacency about the conflict's supply risks.
Oil Markets Face Reckoning After Hormuz Cargo Ship Strike
Crude had erased its war premium Thursday, trading at pre-conflict lows. A projectile strike on a cargo ship in the strait reverses that bet overnight.
Oil Falls to Pre-War Levels as Markets Price a Hormuz Deal
Crude erased its war-risk premium Thursday, falling to pre-conflict levels — a market bet that the Versailles framework delivers a deal before IRGC enforcement resumes.
IOC Tanker Tender Draws No Bids as Hormuz Risk Lingers Into Day Six
India's IOC found no takers for a Gulf crude charter through Hormuz on Tuesday — the week's starkest market signal from the IRGC's three-day closure declaration.
First Post-Deal LNG Tanker Clears Hormuz, Arrives at India's Dahej
The Malta-flagged LNG carrier Disha arrived Friday at India's Dahej terminal — the first liquefied natural gas cargo to transit the Strait of Hormuz since the US-Iran deal was announced last weekend.
Russia Eyes $13.6B Windfall From Hormuz Oil Spike
Moscow expects to pocket $13.6 billion from elevated crude prices tied to the Strait of Hormuz crisis, as Houthi pressure and US diplomacy keep the region on edge.
Oman Oil Terminal Blast Halts Crude Loading
A drone attack on Oman's Mina Al Fahal terminal halted crude oil loadings and pushed Brent above $95, signaling regional instability is spreading beyond the Iran-US corridor.
Iran Oil Exports Crash to Six-Year Low Under US Blockade
Iran's crude exports fell to 209,000 barrels per day in May, down 84 percent from April, as the US naval blockade chokes off shipments and strands tens of millions of barrels at sea.
Saudi Aramco Posts Record Profit as Hormuz War Drives Oil to $107
Saudi Arabia's state oil giant earned $32.5 billion in Q1 2026, up 25% year-on-year, as Strait of Hormuz combat keeps Brent above $100 and war-risk insurance premiums at 8–10x pre-war levels.
Oil Markets Fracture: Futures Say $101, Physical Barrels Cost $130
Front-month Brent futures and physical Dated Brent have diverged by more than $30 for the first time, as the Hormuz closure drains refinery stockpiles faster than financial markets can price the shock.
Brent Crude Drops 8.6% to $106 on Iran Deal Optimism
Brent fell $10 to $106.52/barrel and WTI neared $93 as traders priced out conflict risk on reports of an imminent US-Iran nuclear framework agreement.
Brent Crude Falls to $108 on Iran Peace Signal
Brent crude settled at $108.17 Friday as Iran peace-talk optimism trimmed a $126 peak, but Hormuz war-risk insurance remains effectively closed and the nuclear file unresolved.
UAE Quits OPEC on May 1, Stripping Cartel of No. 3 Producer
The UAE announced its exit from OPEC effective May 1, removing the cartel's third-largest producer as Brent crude trades above $114 amid a closed Strait of Hormuz.