Saudi Arabia has sold almost 100 million barrels of oil to Asian buyers since the middle of last week, according to traders familiar with the matter, helping to avert a looming supply crunch in the region. The crude for delivery in October and November will be sent via the Strait of Hormuz, said the traders, […]
Canada’s Trans Mountain pipeline hit full capacity for the first time in June, and the company running it already has another 300,000 barrels per day of capacity planned. Most of those new barrels are expected to head across the Pacific.
Oil prices began to climb once again in early Asian trade on Friday due to uncertainty over the outcome of peace talks between the United States and Iran after Switzerland confirmed the talks had been postponed. At the time of writing, Brent crude had climbed back above $80 per barrel while West Texas Intermediate had risen to $76.28. Reuters reported on […]
A tanker loaded with crude oil from the U.S. strategic petroleum reserve has set off from the Gulf of Mexico to the Philippines in what is the first U.S. oil shipment to Asia since late 2022, Reuters reported, citing shipping data.
Coal is back with a bang in Asia’s power generation, as countries scramble to contain the LNG supply shortage due to the war in the Middle East.
Energy-starved Asian nations are taking advantage of US sanction waivers to buy Russian oil to fill gaps caused by the Iran war.
The International Energy Agency said oil from an unprecedented stockpile release will be made available immediately in Asia, where buyers are clamoring to replace barrels lost to war-related disruptions in the Middle East.
Asia is struggling to obtain spot LNG cargoes for emergency supply this month as the halt to Qatar’s exports tightened the market and reignited competition with Europe for promptly available supply.
Oil prices recovered slightly in early Asian trading on Wednesday after falling to one-month lows in Tuesday’s session. Sentiment in markets remains bearish, with traders focused on a potential peace deal between Ukraine and Russia.
Supertanker rates on the route between the Middle East and China hit their highest in five years as traders sought alternatives to Russian crude, Bloomberg has reported, citing a daily rate of $137,000 for last Friday. Friday was when the latest U.S. sanctions against Russia’s two top exporters, Rosneft and Lukoil, came into effect, spurring action […]