Escalating hostilities between the United States and Iran have pushed global crude benchmarks sharply higher, with tanker traffic through the Strait of Hormuz falling to near-zero levels and analysts warning that markets may be underestimating the severity of the disruption.
The European Commission (EC) has informed EU governments that they should waive penalties for oil and gas companies that breach its methane emissions law for the next three years, owing to pressure from the United States government to scrap the…
The head of the International Energy Agency has publicly called on the European Union to reconsider its ban on oil and gas drilling in the Arctic, lending weight to Norway's campaign to open its far northern waters to exploration.
Iraq is moving to build a westbound crude export network that would channel oil from its southern fields to the Mediterranean, reducing its reliance on the Strait of Hormuz.
Global liquefied natural gas exports grew by about 1.2 trillion cubic feet in 2025. The United States supplied approximately 1.10 trillion cubic feet of that increase.
Two tankers managed by Greek operator Dynacom were reportedly struck in separate incidents in the Strait of Hormuz on Monday, according to naval and maritime security sources.
