(Oil Price) – U.S. Coast Guard and Federal Bureau of Investigation (FBI) agents last month boarded tankers to probe suspected cyber attacks on the vessels bound for the U.S. Gulf Coast that allegedly took place while the ships were transiting the Strait of Gibraltar between Morocco and Spain. A Coast Guard-led team that included FBI agents boarded an oil tanker in
(Investing) – Oil prices rose sharply on Monday after more Houthi attacks on Saudi Arabia, as well as postponed talks between Gulf countries and Iran over the Strait of Hormuz, drove worries over prolonged Middle East shipping disruptions. Brent oil futures briefly had surged by 4.3% to $109.14 a barrel by 09:48 ET (13:48 GMT). West Texas Intermediate crude futures had risen
(BOE Report) – The Iran-backed Houthis are seeking to control the whole Yemeni Red Sea coast, which would further consolidate their leverage over the Bab el-Mandeb Strait — one of the busiest and most contested global maritime chokepoints. The militant group has already declared a naval blockade against Saudi Arabia, the world’s largest oil exporter, and Houthi dominance over the
(Investing) – HOUSTON – Brent crude futures breached $100 a barrel on Wednesday for the first time since late July, as Iran and the U.S. hit tankers in the biggest wave of attacks on shipping since the war began, threatening to worsen the ongoing impairment of energy supplies from the Middle East. Front-month Brent crude futures were up $3.40, or 3.5%, at
(BOE Report) – Four commodity vessels transited the key waterway of the Strait of Hormuz on Thursday, down from nine a day earlier and well below the 10-day average tally of about 15, preliminary shipping data showed. Two medium-range tankers, a Kamsarmax carrier and a Handysize vessel made up the figure, Kpler data showed by 0455 GMT on Friday. The
(Oil Price) – The number of tankers traversing the Strait of Hormuz remains below the ten-day average, according to ship-trackers, with Kpler reporting only four tanker crossings for Tuesday. That is below a ten-day average of 13 tankers, Reuters reported earlier today. Windward, meanwhile, reported four tankers entering the strait, two of them in dark mode, and three exiting on Tuesday, one of them in
(Oil Price) – The number of tankers traversing the Strait of Hormuz remains below the ten-day average, according to ship-trackers, with Kpler reporting only four tanker crossings for Tuesday. That is below a ten-day average of 13 tankers, Reuters reported earlier today. Windward, meanwhile, reported four tankers entering the strait, two of them in dark mode, and three exiting on Tuesday, one of them in
(Oil Price) – More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago—and nearly 27% above the $510,000 reached just ten days earlier. The
(BOE Report) – The Iran war’s redrawing of the global trade map is forcing Gulf nations to retool their investment play book, ploughing capital into infrastructure, from energy pipelines to ports, to weather the fallout from the conflict. The war has highlighted the Gulf’s overreliance on the Strait of Hormuz, previously a chokepoint for 20% of global oil flows but
(Investing) – LONDON – Oil prices fell on Friday and were on track for a weekly drop as traders weighed crude flows making it through the Strait of Hormuz against the deadlock in U.S.-Iran diplomacy. Brent crude futures were down 52 cents or 0.6% at $89.18 a barrel at 1419 GMT. West Texas Intermediate crude futures fell $1.01, or 1.2%, to $82.52. Both
(BOE Report) – At least three Indian oil refiners and a global energy major plan to stop using vessels on Iran’s new blacklist, including for ship-to-ship transfers, due to security concerns, four sources with direct knowledge of the matter said this week. Tehran announced on Sunday a blacklist of 45 ships it said had broken its rules for crossing the
(Oil Price) – Six months since the Iran war crippled Qatar’s LNG exports via the Strait of Hormuz, the world’s second-largest liquefied natural gas exporter has lost $24 billion in sales as exports tumbled by as much as 96%, Reuters calculations showed on Wednesday. The number of LNG cargoes that Qatar has managed to export crashed to just 18, down from 509 cargoes
