(By Oil & Gas 360) – Global energy markets are entering a new phase of disruption as attacks on critical infrastructure across the Middle East begin to translate into real supply losses, not just risk premiums. Brent crude surged to multi-year highs, briefly touching around $119 per barrel, as traders reacted to widening outages across oil and gas systems. The
(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
(Investing) – Oil prices surged on Wednesday, with global benchmark Brent nearing $110 a barrel after an attack to the largest natural gas field in the world shared by Iran and Qatar. At 10:57 ET (14:57 GMT), Brent oil futures advanced 5.8% to $109.51 a barrel, while U.S. West Texas Intermediate crude futures climbed 2.7% to $98.09 a barrel. Qatar condemns attack on Iran’s
(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
(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
(Investing) – Oil prices rose sharply Thursday, cresting above the key $100 per barrel level, after new Iranian Supreme Leader Mojtaba Khamenei warned that a critical waterway for global shipping will remain closed as the U.S. and Israel continue an assault of the country. Khamenei — the son of former leader Ali Khamenei, who slain at the outset of the U.S.
(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) – China continues to deepen its energy ties with both Iran and Latin America, strengthening supply chains while expanding its economic influence across key resource regions. In Iran, Beijing’s engagement centers largely on oil, gas, and infrastructure. China is one of the largest buyers of Iranian crude, accounting for over about 80% of Iran’s oil
(Investing) – The Trump administration is beginning to outline potential steps to address rising energy prices linked to the conflict involving Iran, though analysts at Wolfe Research say the government’s policy tools may be limited. In a note led by Tobin Marcus, Wolfe Research said recent announcements from the administration suggest a focus on measures aimed at stabilizing shipping and
(Investing) – WASHINGTON – U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. “The crude markets are very well supplied. There are hundreds of millions of barrels on the water away from the Gulf. But
(World Oil) – Oil futures extended gains as the U.S.-Iran conflict widens and energy infrastructure across the Middle East comes under attack, according to Sasha Foss, Energy Analyst at CSC Commodities, a division of Marex. Front-month Brent crude rose $5.66/b to $83.40, with the prompt spread widening to $2.65/b, reflecting tightening near-term supply conditions. Foss said the biggest risks to global
