Refined Fuels, Not Crude, Are Driving the Oil Market Crunch
Oil prices have just come off a fresh two-month high as the crude oil market has tumbled this week amid signals of de-escalation in the U.S.-Iran conflict.
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U.S. Strikes Iran-Linked Tanker Near Kharg Island
US forces have disabled an Iran-linked oil tanker close to the Kharg Island export terminal in the Persian Gulf, marking the first vessel strike since Washington reimposed its naval blockade on shipping bound for Iranian ports and coastal areas.
Equinor CEO: Europe May Miss Winter Gas Storage Goal
Europe's effort to rebuild natural gas inventories before winter suffered another setback on Wednesday after Equinor CEO Anders Opedal warned the region may struggle to reach its 80% storage target, highlighting intensifying competition for global LNG supplies.
US Crude Oil Inventories Build Again Despite Hormuz Disruption
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 3.296 million barrels in the week ending July 24. In the week prior, US crude oil inventories grew by 2.603 million barrels.
Five Oil and Gas Stocks Ready for a Hormuz Spike and a Hawkish Fed
Energy investors are contending with two conflicting forces this month, according to a market analysis published by OilPrice.com. Renewed tension in the Strait of Hormuz has driven crude sharply higher, while expectations of a hawkish US Federal Reserve are keeping…
Russia’s Biggest Black Sea Oil Port Goes Quiet as Drone Threat Grows
Russia's largest Black Sea oil export terminal has effectively gone offline just days after drone attacks shut down the neighboring Caspian Pipeline Consortium terminal, tightening another artery that moves crude onto the global market.