(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
(World Oil) – UK Prime Minister Keir Starmer joined counterparts in Japan, Germany, France, Italy and the Netherlands in calling on Iran to stop attacks on energy sites and other civilian infrastructure and to end the shipping gridlock in the Strait of Hormuz. “We call on Iran to cease immediately its threats, laying of mines, drone and missile attacks and other attempts
(BOE Report) – Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months. “Already you’re seeing tankers are starting to dribble
(Oil Price) – Oil producers in the Arab Gulf have already lost at least $15.1 billion in oil and gas revenues since the start of the Middle East war, per estimates by commodities analytics firm Kpler cited by the Financial Times. The de facto closure of the Strait of Hormuz has choked off since March 1, millions of barrels per day of
(Investing) – Italy is not conducting negotiations with Iran to secure safe passage through the Strait of Hormuz for Italian vessels or oil tankers, an Italian foreign ministry source said on Friday. The statement contradicts a report published by the Financial Times suggesting such talks were taking place. “In their diplomatic contacts, Italian leaders want to favour the conditions for a
(BOE Report) – Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed. Iran has exported about 13.7 million barrels of crude oil since Israel and the U.S. launched
(Oil Price) – Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors. Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command headquarters, warned the world to “get ready for oil to be
(By Oil & Gas 360) – Escalating tensions involving Iran are raising new questions about the security of the Strait of Hormuz, one of the world’s most critical energy chokepoints, as military action intensifies and energy markets brace for potential supply disruptions. The United States has stepped up strikes against Iranian targets, widening the conflict and increasing uncertainty around the
