Crude oil markets are on course for their sharpest weekly gain since April, with prices climbing roughly 12% as renewed hostilities between the United States and Iran disrupted flows through the Strait of Hormuz and rekindled fears over Middle Eastern…
Only one oil tanker transited the Strait of Hormuz on Thursday, the lowest number of crossings since May 7, as war risks spiked this week to hike crude oil prices above $100 per barrel again.
Iran has reportedly directed Yemen's Houthi movement to prepare for a possible closure of the Bab el-Mandeb strait, the southern chokepoint into the Red Sea, should Washington act on threats to strike Iranian power infrastructure.
For years, Saudi Arabia's strategic answer to any disruption in the Strait of Hormuz has been remarkably straightforward. If volumes via the Persian Gulf were threatened, the answer was to pump west through the East-West Pipeline to Yanbu on the…
US liquefied natural gas producer Venture Global has recorded a sharp jump in the fees it charges for turning natural gas into LNG, a gain the company links to supply disruptions in the Middle East arising from regional conflict.
US oil and gas drilling activity edged higher over the past week, coinciding with a sharp rally in crude prices, according to figures released by Baker Hughes on Friday.
