(By Oil & Gas 360) – Escalating tensions involving Iran are reverberating through global energy markets, as security concerns around the Strait of Hormuz push shipping costs sharply higher and raise questions about the reliability of one of the world’s most critical oil transit routes. Iran’s Islamic Revolutionary Guard Corps (IRGC) has taken on an expanded wartime leadership role inside
(Investing) – UBS on Wednesday raised its average Brent crude oil price forecasts for the first quarter and full year 2026, citing escalating conflict in the Middle East and the current near de facto closure of the Strait of Hormuz. The bank now sees the Brent price averaging $71 per barrel in the first quarter, implying around $80 a barrel in March, and at
(Investing) – WASHINGTON – U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. “The crude markets are very well supplied. There are hundreds of millions of barrels on the water away from the Gulf. But
(Oil Price) – Investors may be underestimating the risk that renewables could become stranded assets, as grid constraints and congestion and supply chain hurdles limit the value that these assets could deliver, Barclays said in a recent white paper on “energy transition realism”. “The classic stranded-asset story focused on fossil fuels, but what we are now seeing is stranded-like outcomes also emerging for
(World Oil) – Oil producers across the Middle East face a tense countdown as the Iran war blocks the region’s main export artery, filling the countries’ storage tanks and threatening output cuts if the situation persists. With shipping through the Strait of Hormuz suspended, Persian Gulf countries are having to stockpile the stranded supplies in storage tanks. Iraq — which has limited
(Investing) – The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows. The U.S. submarine strike on the Iranian vessel came as U.S. President Donald Trump pledged to
Weekly Crude Oil Storage as of February 27, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.5 million barrels from the previous week. At 439.3 million barrels, U.S. crude oil inventories are 3% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
