(BOE Report) – QatarEnergy has yet to update its liquefied natural gas (LNG) customers on the impacts of recent attacks on its gas plants, Edison CEO Nicola Monti said on Tuesday. Monti said a pause in LNG supply until mid-June, which QatarEnergy notified the Italian utility of last week, was mainly due to the shipping blockade in the Strait of
(Investing) – WASHINGTON – The United States has done the lion’s share of the work in making Iran less of a threat and other countries now need to step up to reopen the critical Strait of Hormuz waterway, Defense Secretary Pete Hegseth said on Tuesday. Hegseth cited President Donald Trump’s early morning exhortation to other countries to loosen Iran’s stranglehold on
(Investing) – Oil prices rose on Monday after Yemen’s Houthi group attacked Israel over the weekend, pointing to a broader scope for the war in the Middle East as the conflict enters its second month. Continued hostilities between Iran and the joint forces of the U.S. and Israel also showed few signs of de-escalation, with Tehran stating that it was prepared for
(By Oil & Gas 360) – The 1974 oil price shock remains one of the defining moments in modern economic history. Triggered by the Organization of the Petroleum Exporting Countries (OPEC) oil embargo following the Yom Kippur War, crude prices quadrupled in a matter of months. It exposed deep structural vulnerabilities in Western economies and reshaped global energy policy for
(Oil Price) – Iran’s oil exports have not collapsed and are fetching much higher prices than before the war, handing Tehran handsome extra revenues from its crude, which is the only one unimpeded from transiting the Strait of Hormuz. Unlike all other Gulf producers, Iran is passing its oil through the Strait of Hormuz and its export volumes remain resilient. Steady
(Investing) – Oil prices fell on Wednesday, with Brent crude oscillating around $100 a barrel, as Middle East strikes continued despite talks of de-escalation in the almost month-old conflict between joint U.S.-Israeli forces and Iran. As of 10:37 ET (14:37 GMT), Brent oil futures expiring in May fell 3.9% to $100.41 per barrel, while U.S. West Texas Intermediate (WTI) crude futures declined 3.5%
(Investing) – Oil prices climbed over 2% in European trade on Tuesday after Iran denied that negotiations with the U.S. had taken place since the beginning of the war, contradicting President Donald Trump’s claims. The futures contract expiring in May for Brent crude, the global oil benchmark, rose 2.7% to $102.62 per barrel by 10:07 ET (14:07 GMT), while U.S. West Texas Intermediate
(By Oil & Gas 360) – Global energy markets are sending mixed signals as war-driven disruptions collide with sudden diplomatic momentum, leaving oil and gas prices caught between physical shortages and shifting expectations. LNG supply has taken a direct hit. Export volumes have fallen to multi-month lows as conflict in the Middle East disrupts flows through the Strait of Hormuz,
(World Oil) – ADNOC CEO Sultan Al Jaber warned that disruption of the Strait of Hormuz represents a direct threat to global energy security, describing attempts to block the vital waterway as “economic terrorism” with far-reaching consequences for oil and gas markets. Speaking at CERAWeek by S&P Global in Houston, Al Jaber emphasized the strategic importance of Hormuz, through which roughly 20% of
(Investing) – Oil prices slumped on Monday, after President Donald Trump talked up “productive” talks with Tehran to possibly end the ongoing Middle East conflict and said oil would “drop like a rock” if a deal is reached. At 10:34 ET (14:34 GMT), Brent oil futures — the global benchmark — plummeted 8.6% to $97.26 a barrel, while U.S. West Texas Intermediate crude futures fell
(Investing) – Oil prices oscillated around the flatline on Friday, after U.S. officials said Washington may soon lift sanctions on Iranian oil already at sea, freeing up more supplies. Hopes for some de-escalation in the U.S.-Israel war on Iran had earlier weighed on crude. Helping underpin the sentiment were U.S. calls for Israel to hold off on future attacks against Iran’s
(BOE Report) – Iranian attacks have knocked out 17% of Qatar’s liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy’s CEO told Reuters on Thursday. Saad al-Kaabi said two of Qatar’s 14 LNG trains and one of its two gas-to-liquids (GTL) facilities were damaged in the
