(Oil Price) – Summer travel could be disrupted for millions of airline passengers as airlines pass on higher jet fuel prices onto air fares and cancel unprofitable routes, according to the global association Airports Council International. The surge in jet fuel prices as a result of the Middle East crisis leads to higher air fares. Passengers should be prepared
(Oil Price) – In an earnings season highlighted by a Middle East conflict that has sent oil prices soaring, Texas oil refiner Phillips 66 (NYSE:PSX) has reported first quarter adjusted earnings of $0.49 per share, easily beating Wall Street’s consensus of a loss of $0.39 while net income came in at $207 million thanks to higher refining margins amid the big oil price rally. The
(By Oil & Gas 360) – California’s energy system is heading toward a tighter balance, and it’s happening at the same time global supply risks are rising. Refinery closures across the state are steadily reducing in-state capacity. Over the past several years, California has lost meaningful refining throughput as facilities have shut down, converted to renewable fuels, or scaled
(Oil Price) – The trading arms of some of China’s biggest state-owned oil giants have started selling crude for May loadings in a rare move from the majors that have cut refinery rates in response to soaring oil prices and constrained crude supply from the Middle East. Sinopec, the world’s biggest refiner by capacity, and Sinochem Group have already sold
(World Oil) – TotalEnergies reported damage at the SATORP refinery in Saudi Arabia following overnight incidents linked to the ongoing Middle East conflict, resulting in the shutdown of one of the site’s two processing trains. The SATORP facility, a joint venture majority-owned by Saudi Aramco (62.5%) with TotalEnergies holding 37.5%, was impacted during the night of April 7–8. No casualties were
(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
(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
(BOE Report) – Spot premiums for U.S. West Texas Intermediate crude have jumped to all-time highs as competition between Asian and European refiners for supply heats up to replace Middle Eastern oil flows disrupted by the Iran war, industry sources said. Europe is typically the largest importer of U.S. crude, but competition has escalated with Asian buyers scouring for supply
(Oil Price) – The price of Canada’s synthetic crude, which has rich diesel yield for refiners, has surged by nearly 200% since March 27 as the Middle East war cripples global diesel supply and sends diesel futures, cracks, and retail prices soaring. The synthetic crude made from processing of bitumen from Alberta’s oil sands is very low sulfur and its chemical
(By Oil & Gas 360) – The first phase of the energy shock moved prices. The second reshaped flows. The third is now redirecting capital. As volatility moves from crude into refined products and logistics, investors are beginning to reposition, not around headline oil prices, but around where the system is tightening most. That shift is already visible. Refiners are
(By Oil & Gas 360) – The first phase of the U.S.–Iran conflict has exposed immediate stress in refined product markets. The second phase is already taking shape, and it is less about price spikes and more about how fuel actually moves around the world. Global trade flows are being rewritten in real time. As Middle East supply becomes less reliable,
(By Oil & Gas 360) – While crude oil grabs the headlines, the real pressure point in the U.S., Iran conflict is showing up downstream, in the fuels that actually power economies. Gasoline, diesel, and jet fuel markets are tightening faster and more unevenly than crude, revealing a different kind of energy shock that is driven by logistics, refining constraints,
