(By Oil & Gas 360) – Operation Epic Fury was meant to send a clear signal that the United States will act to protect global energy flows when they are threatened. In the immediate sense, it appears to have worked. The operation demonstrated speed and capability, reassured allies, and reminded markets that the U.S. remains willing to intervene when critical
(Investing) – LONDON – The Strait of Hormuz’s closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars, a Reuters analysis found. Iran effectively shut the Strait – a route for about a fifth of global oil and LNG
(By Oil & Gas 360) – The global energy narrative is shifting. What began as an oil-driven crisis is quickly evolving into a gas problem—and in many regions, a more immediate one. Disruptions to LNG flows from the Middle East are tightening global supply just as demand remains elevated across Asia and Europe. With Qatar’s export capacity constrained, gas markets
(Oil Price) – At the end of February, the Alberta government released its draft budget for the year, forecasting a deficit resulting from low oil prices, set to extend over the next three years. Now, Canada—and Alberta specifically—are about to become some of the big winners from the oil price rally resulting from the Middle East supply crunch. Canadian oil producers are set
(By Oil & Gas 360) (Part II) When oil markets face a sudden shock, governments have one tool they can deploy almost immediately: emergency stockpiles. As tensions in the Middle East threaten flows through the Strait of Hormuz, policymakers are again turning to strategic reserves to stabilize energy markets. The International Energy Agency has indicated that coordinated releases from emergency reserves
(By Oil & Gas 360) – (Part I) Oil markets are once again confronting a question they have not seriously faced in years: what happens when a major global supply artery is suddenly threatened. Prices have surged toward $100 per barrel after Iran’s new leadership signaled that the Strait of Hormuz could remain closed as tensions in the Middle East
(By Oil & Gas 360) – Oil prices surged past $100 per barrel as escalating tensions involving Iran rattled global energy markets and raised fears of supply disruptions across the Middle East. The spike prompted urgent discussions among the world’s largest economies. Finance ministers from the Group of Seven signaled they are prepared to release strategic oil reserves if needed
(World Oil) – The International Energy Agency said it sees no need yet to release emergency oil stockpiles amid the Middle East crisis, as global oil supplies are plentiful and the impact appears likely to be temporary. “All options are on the table, but there are no plans for a collective action at this stage,” IEA Executive Director Fatih Birol
(World Oil) – The turmoil unfolding in the Middle East is sparking the biggest disruption to oil and natural gas markets since Russia’s invasion of Ukraine in 2022. Qatar shut down the world’s largest LNG export facility, Saudi Arabia suspended operations at its biggest oil refinery and tanker traffic through the crucial Strait of Hormuz has all but halted. And it’s only Day 3. U.S. President Donald Trump
(By Oil & Gas 360) – Crude prices are back in motion, with oil posting its first weekly gain of the month before slipping from recent highs as rising U.S.-Iran tensions injected fresh volatility into the market. Early gains reflected concern that escalating friction in the Middle East could threaten supply flows or key transit routes. Even without confirmed disruption,
(Investing)– Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East. Brent crude futures rose $1.33, or 2.2%, to $61.97 a barrel by 1416 GMT while U.S. West Texas Intermediate crude was up $1.31, or
(Oil Price)– Saudi Arabia is expected to further lower the price of its crude oil bound for Asia in February, as global supply remains plentiful and spot benchmarks in the Middle East have dropped, a Reuters survey of six Asian refining sources showed on Monday. Saudi Arabia, the biggest crude exporter in the world, is poised to reduce the price of
