Tankers Archives - Oil & Gas 360

Iran is consolidating control of Hormuz with island checkpoints, diplomatic deals – and sometimes ‘fees’

May 20, 2026

(BOE Report) – The tanker crew gathered their courage and carefully navigated along a route designated by Iran, hugging the coastline and maneuvering their hulking vessel between island checkpoints through the Strait of Hormuz. The 330-metre-long Agios Fanourios I, laden with Iraqi crude oil and bound for Vietnam, had been bottled up off the coast of Dubai since late April.

Italy denies negotiating safe passage through Hormuz Strait with Iran

March 13, 2026

(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

Oil prices spike after Middle East conflict stokes supply shock jitters

March 2, 2026

(Investing) – Oil prices rose sharply Monday on concerns of increasing supply disruptions after the U.S. and Israel launched a wave of attacks against Iran. At 11:23 ET (16:23 GMT), Brent oil futures surged 6.8% to $77.80 a barrel, after earlier climbing to its highest level since January 2025, while West Texas Intermediate crude futures rose 5.7% to $70.85 a barrel, just below its highest

About a dozen oil tankers have left Venezuela despite Trump blockade, data shows and sources say

January 5, 2026

(Investing) – About a dozen tankers loaded with Venezuelan crude oil and fuel have left the country’s waters in dark mode since the start of the year, according to documents seen by Reuters and industry sources including monitoring service TankerTrackers.com. The movements suggest a potential breaking of a strict blockade imposed by U.S. President Donald Trump before the dramatic capture of

Oil rises 3% as some tankers avoid Red Sea after strikes

January 12, 2024

Investing LONDON – Oil prices climbed about 3% on Friday, as some oil tankers diverted course from the Red Sea following overnight air and sea strikes by the United States and Britain on Houthi targets in Yemen after attacks on shipping by the Iran-backed group. Witnesses in Yemen confirmed explosions throughout the country. Brent crude futures were up $2.21, or 2.9%, at

Tankers that carried Iranian oil are switching to Russian crude

July 22, 2022

World Oil (Bloomberg) — Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa. Eleven of the tracked ships that previously carried Iranian crude have loaded Russian oil and products since April, accounting for 16 loadings in that period, according to a note dated July 21. Most of the vessels are smaller

Oil demand drag takes toll on tankers, U.S. refiners

March 16, 2021

Reuters LONDON/NEW YORK – U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels, shipping and trade sources say. The global rollout of coronavirus vaccines and the expectation that government-offered stimulus packages will boost the world economy has raised expectations

U.S. glass maker seeks to seize Venezuela-owned oil tanker to collect award, court papers show

August 6, 2020

Reuters NEW YORK/MEXICO CITY – U.S. glass manufacturer O-I Glass Inc is seeking to seize an oil tanker owned by Venezuela to collect part of a $500 million arbitration award it won after the 2010 expropriation of two manufacturing plants, according to a summons filed with a Singapore court seen by Reuters. The attempt is a new threat against Venezuelan

Exclusive: Oil tankers turn away from Venezuela as more sanctions loom

June 9, 2020

Reuters Two tankers that were sailing toward Venezuela to load crude have turned around since the weekend and three other vessels have left Venezuelan waters as the United States considers blacklisting dozens of ships for transporting the country’s oil, according to shipping data and industry sources. Washington is considering imposing sanctions on tankers involved in exporting Venezuela’s oil as the

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

May 29, 2020

RarePetro Oil & Gas 360 Publishers Note: Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any kind of recovery on our producers. This brings up the question: Should Donald Trump, or Congress, get involved in eliminating

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

May 29, 2020

Key Indicators On The Oil Price Path ‘After’ Covid-19

May 12, 2020

Forbes Undoubtedly, the dominant factor in the oil market for the next twelve to twenty-four months will be the progress of the pandemic, which will reduce economic activity and thus oil demand to an uncertain degree and with unpredictable timing. My take is that once inventories are no longer filling, prices will recover somewhat, with Brent reaching $35-40 and WTI

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