(Oil Price) – U.S. President Donald Trump is considering extending the two-month waiver of the Jones Act to ease fuel prices that have spiked following the war in Iran, Axios reported on Wednesday, citing U.S. officials. The Merchant Marine Act of 1920, also known as the Jones Act, requires that no vessel may transport any merchandise by water, by land
(BOE Report) – The natural gas demand destruction currently resulting from the Iran war as governments implement measures to mitigate the crisis risks becoming structural if the conflict persists, the head of the Gas Exporting Countries Forum said on Wednesday. Since the Middle East crisis began at the end of February, more than 500 million barrels of crude and
(Oil Price) – Registrations of battery electric vehicles (BEVs) in Europe’s key automotive markets surged by 51% in March as the Iran war pushed gasoline prices to multi-year highs, data published by research firm New Automotive and trade association E-Mobility Europe showed on Monday. More than 224,000 new electric passenger cars were registered in March alone across 15 key EU +
(World Oil) – Kuwait declared force majeure on shipments of crude oil and refined products as the blockade of the Strait of Hormuz makes it impossible to meet obligations to customers that can’t bring vessels into the Persian Gulf. State-run Kuwait Petroleum Corp. notified customers Friday that it was invoking the contractual clause that allows a supplier to miss deliveries,
(BOE Report) – The heads of the U.S. Interior and Energy Departments will hold a call on Thursday with CEOs from energy companies including Exxon and Chevron on their potential to boost oil and gas output, an administration official said, as the Iran war hikes global energy prices. The prices, which are returning to levels seen during the aftermath of Russia’s
(BOE Report) – BP said on Tuesday it expects its huge oil trading desk to post “exceptional” results for the first quarter, signalling a windfall from the spike in oil prices triggered by the U.S.-Israeli war against Iran. The company also said its net debt would rise to between $25 billion and $27 billion from just over $22 billion in
(Investing) – The Iran conflict will fundamentally reshape global energy trade, International Energy Agency Executive Director Fatih Birol said Tuesday, as nations reassess their energy partnerships amid heightened tensions. Speaking at Semafor World Economy, Birol said the world will not return to previous energy arrangements after the Strait of Hormuz reopens, following a US blockade of Iranian ports this week. The
(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
(Oil Price) – Oil prices could soar to $150 per barrel or more if the Middle East war continues until the end of March, Kpler says, as the conflict escalates with Iran intensifying attacks on energy infrastructure in the region. “With this huge outage of supply it is just a matter of time where prices really catch up with the fundamentals
