(BOE Report) – A tanker carrying about 2 million barrels of Iraqi fuel oil was struck by a drone in Iraqi territorial waters on Wednesday, port officials said, and British navy-affiliated UKMTO reported that several merchant vessels in the Gulf had been hit by disabling fire overnight. A fire broke out aboard the Panama-flagged oil tanker New Andros after it
(By Oil & Gas 360) – The first week of September delivered a familiar geopolitical story with a potentially more consequential investment response. Fighting between the United States and Iran again pushed oil prices higher, traffic through the Strait of Hormuz remained constrained, and Europe’s natural gas market extended its gains. But as the conflict grinds on, the more important question
(BOE Report) – Four commodity vessels transited the key waterway of the Strait of Hormuz on Thursday, down from nine a day earlier and well below the 10-day average tally of about 15, preliminary shipping data showed. Two medium-range tankers, a Kamsarmax carrier and a Handysize vessel made up the figure, Kpler data showed by 0455 GMT on Friday. The
(Investing) – LONDON – Oil prices rose on Thursday after U.S. strikes on Iran and renewed Israeli threats against Tehran revived concerns about disruptions to Middle East supplies. Brent crude futures were up 59 cents, or 0.62%, at $96.22 a barrel by 1327 GMT while U.S. West Texas Intermediate crude futures rose 78 cents, or 0.86%, to $91.79. Both contracts were heading for their
(Oil Price) – The number of tankers traversing the Strait of Hormuz remains below the ten-day average, according to ship-trackers, with Kpler reporting only four tanker crossings for Tuesday. That is below a ten-day average of 13 tankers, Reuters reported earlier today. Windward, meanwhile, reported four tankers entering the strait, two of them in dark mode, and three exiting on Tuesday, one of them in
(Oil Price) – More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago—and nearly 27% above the $510,000 reached just ten days earlier. The
(Investing) – LONDON – Oil prices fell on Friday and were on track for a weekly drop as traders weighed crude flows making it through the Strait of Hormuz against the deadlock in U.S.-Iran diplomacy. Brent crude futures were down 52 cents or 0.6% at $89.18 a barrel at 1419 GMT. West Texas Intermediate crude futures fell $1.01, or 1.2%, to $82.52. Both
(Oil Price) – Six months since the Iran war crippled Qatar’s LNG exports via the Strait of Hormuz, the world’s second-largest liquefied natural gas exporter has lost $24 billion in sales as exports tumbled by as much as 96%, Reuters calculations showed on Wednesday. The number of LNG cargoes that Qatar has managed to export crashed to just 18, down from 509 cargoes
(Investing) – Oil prices fell on Wednesday, extending declines from the prior session, as media reports pointed to progress in diplomatic efforts to halt hostilities in the Middle East and reopen the Strait of Hormuz. Brent crude futures, the global oil benchmark, had fallen 1.6% to $87.22 a barrel by 09:43 ET (13:43 GMT), while U.S. West Texas Intermediate crude futures had
(Investing) – LONDON – Almost half the world’s oil comes from countries affected by conflict in 2026, Reuters calculations show, underscoring that current disruptions have eclipsed previous energy crises. Six months ago, U.S. and Israeli attacks on Iran triggered what has become the largest oil supply crisis on record, with no clear end in sight. At the same time, the
(BOE Report) – Just two commodity vessels transited the key energy chokepoint of the Strait of Hormuz on Monday, for the lowest daily tally since early May, with both entering the Gulf, shipping data showed. The figure was also well below the 10-day average of 14, with just one very large gas carrier and one very large crude carrier entering
(Investing) – WASHINGTON/ISLAMABAD – The United States was set to warn countries to cut ties with Iran or risk their businesses being cut off from the dollar-based financial system when it unveils the “greatest financial offensive ever” on Monday, a source told Reuters. U.S. Treasury Secretary Scott Bessent will outline measures at 1 p.m. (1700 GMT) to broaden the scope of
