Wednesday, July 22, 2026

War redraws energy trade routes

(By Oil & Gas 360) – As conflict in the Middle East disrupts traditional flows, Russia is quietly repositioning itself to capture new openings in global energy trade. Officials in Moscow have pointed to the shifting landscape as an opportunity, less about replacing lost barrels and more about redirecting them. When established routes tighten, trade does not stop; it moves.

Power demand surge is rewriting the energy equation- oil and gas 360

Power demand surge is rewriting the energy equation

(By Oil & Gas 360) – A new phase of energy demand is emerging, and it is being driven less by population growth or traditional industry, and more by the rapid expansion of digital infrastructure. Recent data from the U.S. Energy Information Administration points to a clear shift: U.S. electricity demand is accelerating after years of relative stagnation. More notably,

Heads of IEA, IMF, World Bank to meet next Monday to discuss energy crisis- oil and gas 360

Heads of IEA, IMF, World Bank to meet next Monday to discuss energy crisis

(BOE Report) – The leaders of the International Energy Agency, the International Monetary Fund and the World Bank will discuss the energy crisis triggered by the Iran war next Monday, IEA executive director Fatih Birol said on Tuesday. “This energy crisis calls for all hands on deck & international cooperation,” Birol said on social media platform X, stressing the need

Hungary set to agree to buy U.S. oil during JD Vance visit- oil and gas 360

Hungary set to agree to buy U.S. oil during JD Vance visit

(Oil Price) – Hungary is expected on Tuesday to agree a $500-million oil supply deal with the United States during the visit of U.S. Vice President JD Vance in Budapest, a source with knowledge of the plan told Bloomberg. Vance arrived in Hungary’s capital city earlier on Tuesday, just days ahead of the general election in the country on April 12, in which Hungarian

Crude oil and petroleum product prices increased sharply in the first quarter of 2026- oil and gas 360

Crude oil and petroleum product prices increased sharply in the first quarter of 2026

(EIA) – Crude oil and petroleum product prices increased significantly in the first quarter of 2026 (1Q26), particularly following military action in the Middle East on February 28 and the subsequent de facto closure of the Strait of Hormuz. In this quarterly update, we review petroleum markets price developments in 1Q26, covering crude oil prices, petroleum product prices, and refinery

Kharg Island targeted in U.S. strikes as Hormuz tensions lift oil prices- oil and gas 360

Kharg Island targeted in U.S. strikes as Hormuz tensions lift oil prices

(World Oil) – The U.S. carried out strikes near Iran’s Kharg Island early Tuesday, targeting military sites while avoiding key oil export infrastructure, as tensions in the region continue to inject volatility into global energy markets. U.S. forces hit bunkers, radar systems and ammunition storage facilities on the island, according to reports, in a renewed round of attacks similar to

Physical oil prices hit record highs near $150 a barrel as Hormuz crisis worsens- oil and gas 360

Physical oil prices hit record highs near $150 a barrel as Hormuz crisis worsens

(Investing) – LONDON – European and Asian refiners are paying record high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper futures, highlighting the worsening supply crisis from the U.S.-Israel war with Iran. The Iran war has forced the shutdown of at least 12 million barrels per day – about 12% of world supply