Iran is shipping large amounts of oil that had previously been held back by a US blockade, a potential boost for Tehran after it signed an interim peace deal with Washington on Wednesday. A total of 11 tankers hauling a combined 20 MMbbl were detected leaving the Iranian port of Chabahar on the Gulf of […]
Millions of barrels of crude oil continued moving through the Strait of Hormuz over the weekend despite Iran’s announcement that it had closed the critical waterway, highlighting growing uncertainty over the actual status of the world’s most important oil transit route. Vessel-tracking data showed several laden supertankers transiting Hormuz on Saturday and Sunday, carrying crude […]
Tankers carrying a total of 80 million barrels of crude are preparing to move through the Strait of Hormuz after the signing of the preliminary deal between the United States and Iran, Bloomberg reported today, citing data from Vortexa. The crude is on 40 tankers, of which 21 will be heading for Asia, with five going to […]
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 […]
Commercial vessel traffic through the crucial Strait of Hormuz appeared to remain limited over the past day, amid uncertainty over prospects for a U.S.-Iran peace deal. Just two inbound commercial transits were observed on Tuesday morning, following two outbound ships on Monday, according to ship-tracking data compiled by Bloomberg. Shipowners had recently become more optimistic about a […]
US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in the Islamic Republic in response – the latest flare-up to test a fragile ceasefire. US Central Command said Iran on Tuesday launched several ballistic missiles toward countries including Kuwait and Bahrain. Some were shot down by […]
The oil and gas crunch caused by the war between the U.S., Israel, and Iran, has cost global businesses $25 billion, Reuters reported today, adding that the bill is going to climb higher still. The publication analyzed corporate statements issued after the war started, finding that as many as 279 companies had cited the war as a […]
The US Bureau of Ocean Energy Management has announced plans for its third offshore oil and gas lease sale in the Gulf of America under the One Big Beautiful Bill Act, scheduled for August 12, 2026, Reuters reported on Wednesday. The proposed BBG3 lease sale will offer around 15,066 blocks covering 80.4 million acres (more […]
U.S. Energy Secretary Chris Wright has issued a one-year deadline for the International Energy Agency (IEA) to abandon its net-zero emissions agenda or risk the United States withdrawing from the organization. Speaking at an IEA ministerial meeting in Paris, Wright criticized IEA’s goal for the world to achieve net zero by 2050 as a “destructive illusion” with […]
US forces boarded an oil tanker after a cat-and-mouse chase from the Caribbean to the Indian Ocean, the Pentagon said, as Washington expands its geographic scope in an ongoing crackdown on a global shadow fleet used to export sanctioned crude