Transportation Archives - Page 4 of 27 -

Aramco sees ‘catastrophic consequences’ for oil if shipping doesn’t resume in Strait of Hormuz

March 10, 2026

(BOE Report) – Saudi Arabia’s Aramco, the world’s top oil exporter, said on Tuesday that there would be “catastrophic consequences” for the world’s oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz. The disruption has not only upended the shipping and insurance sectors but also promises to have drastic domino effects on aviation, agriculture,

Oil prices hit highest since 2022 at more than $119 a barrel on Iran war

March 9, 2026

(Investing) – LONDON – Oil prices surged to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruption gripped the market due to the expanding U.S.-Israeli war with Iran. Brent crude futures were up $8.77, or 9.46%, at $101.46 per barrel at 1339 GMT, while U.S. West

LNG shipping rates soar 650% to $300,000 per day

March 5, 2026

(Oil Price) – The global LNG shipping market has turned sharply higher in recent days, with charter rates for modern LNG carriers surging from roughly $40,000 last week to around $300,000 per day as traders scramble to secure vessels amid escalating disruption in the Middle East. According to shipbroker Fearnleys’ latest weekly LNG report, cited by Riviera Maritime Media, daily spot charter

Hormuz risk sends energy shipping costs soaring- oil and gas 360

Hormuz risk sends energy shipping costs soaring: Oil & Gas 360

March 4, 2026

(By Oil & Gas 360) – Escalating tensions involving Iran are reverberating through global energy markets, as security concerns around the Strait of Hormuz push shipping costs sharply higher and raise questions about the reliability of one of the world’s most critical oil transit routes. Iran’s Islamic Revolutionary Guard Corps (IRGC) has taken on an expanded wartime leadership role inside

Producers face storage crunch as Hormuz shutdown traps Middle East crude

March 4, 2026

(World Oil) – Oil producers across the Middle East face a tense countdown as the Iran war blocks the region’s main export artery, filling the countries’ storage tanks and threatening output cuts if the situation persists. With shipping through the Strait of Hormuz suspended, Persian Gulf countries are having to stockpile the stranded supplies in storage tanks. Iraq — which has limited

Gulf shipping crisis deepens as tankers stranded for fifth day, US sinks Iranian warship

March 4, 2026

(Investing) – The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows. The U.S. submarine strike on the Iranian vessel came as U.S. President Donald Trump pledged to

Infrastructure attacks, Hormuz shutdown driving oil surge, analysts say

March 3, 2026

(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

South Bow plan to revive parts of Keystone XL needs Trump approval, US oil pipeline links

March 2, 2026

(BOE Report) – A proposal led by Canadian company South Bow to revive parts of the cancelled Keystone XL oil pipeline could increase Canada’s crude exports to the U.S. by more than 12%, if it gets a green light from U.S. President Donald Trump and additional links to U.S. refining hubs are built. The new proposal involves a different route

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

U.S.-Iran tensions threaten to send oil tanker rates soaring

February 20, 2026

(Oil Price) – The ratcheting up of tensions between the United States and Iran could push an already red-hot supertanker market even higher with rates soaring to the highest level since 2019, analysts say. The daily rate for hiring a supertanker on the key Middle East-to-China route has surged threefold since the beginning of the year, to over $150,000. That’s

US issues fresh guidance to vessels transiting Strait of Hormuz as Iran tensions simmer

February 9, 2026

(BOE Report) – The United States issued fresh guidance on Monday to commercial vessels transiting the Strait of Hormuz, a key shipping lane for Middle East oil supplies, as tensions simmered between Washington and Tehran over Iran’s nuclear program. Iran has in the past threatened to close down the Strait of Hormuz, a portion of which lies within its territorial

Oil tankers wait offshore as Russia redirects barrels to China

February 6, 2026

(Oil Price) – Tankers carrying a total of up to 12 million barrels of crude oil are either en route or close to China in East Asian waters, waiting for buyers in the world’s top crude importer, as India is pulling back. Five of these tankers signal ‘for orders’ or ‘China for orders’ as their status, per data intelligence firm Kpler

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