Iraq is offering buyers of its crude the option to collect supplies from outside of the Persian Gulf for the first time since the Iran war began, highlighting resilient exports flowing through the Strait of Hormuz. The country’s state oil marketer, SOMO, is offering Basrah Medium and Heavy that can be collected by ship-to-ship transfer […]
Japan plans to support the construction of pipelines that bypass the Strait of Hormuz after the US-Iran war laid bare the country’s vulnerability to disruptions in Middle Eastern oil supplies.
Kuwait and Qatar – two of the Persian Gulf’s smaller oil producers – are sending more crude through the Strait of Hormuz, adding to an increase in shipments that are keeping global prices in check.
TotalEnergies will invest in two major oil pipelines designed to bypass the Strait of Hormuz, backing Abu Dhabi’s expansion of its Fujairah export route and a planned pipeline carrying Iraqi crude through Syria to the Mediterranean.
Iran said Tuesday that the Strait of Hormuz will remain closed unless the United States ends the war and meets Tehran’s conditions, raising the bar for a deal that would restore more oil traffic through the key waterway.
Oil fell after both the U.S. and Iran signaled that discussions to restore shipping through the Strait of Hormuz are ongoing, raising hopes for a pickup in supply from the Middle East.
A consortium of U.S. and Saudi companies is set to build a new refinery in the Persian Gulf despite the current situation in the region. The facility will have a price tag of $5 billion and a capacity of 200,000 barrels of crude oil daily. The consortium, dubbed MERA Oil, includes Texas-based MWG Group, the […]
Fresh military exchanges between the U.S. and Iran are raising new concerns about the durability of a fragile ceasefire and the prospects for reopening the Strait of Hormuz, a critical route for global oil and LNG shipments.
The U.S. continues to seek to pile pressure on Iran with the naval blockade outside the Strait of Hormuz as the Trump Administration signals the blockade is yielding results and will not be lifted anytime soon.
Oil surged to the highest since June 2022, with no end in sight to the US-Iran conflict or choked-off energy flows through the Strait of Hormuz, heightening concerns over a rapidly shrinking global supply cushion.