April 29, 2026

U.S. Doubles Down on Hormuz Blockade to Choke Iran’s Oil Exports

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 […]

Oil Price

April 29, 2026

OPEC Will Survive UAE Exit, But Medium-Term Supply Threat Is Real

The OPEC and OPEC+ groups are not expected to falter following the abrupt, but not necessarily surprising, exit of one of the biggest producers, the United Arab Emirates (UAE), according […]

Oil Price

April 29, 2026

Barclays Sees UAE Oil Supply Growth Accelerating Post-OPEC

After quitting OPEC and OPEC+, the United Arab Emirates (UAE) is set to grow its oil production faster when the current Hormuz crisis is over, according to analysts at Barclays. […]

Oil Price

April 28, 2026

First LNG Tanker Breaks Hormuz Blockade

The first LNG vessel to cross the Strait of Hormuz since the end of February has exited the chokepoint and is currently nearing India’s shores, Bloomberg reported, citing tanker-tracking data. The […]

Oil Price

April 28, 2026

BP Profit More Than Doubles as War-Driven Oil Trading Surges

BP (NYSE: BP) more than doubled its profit for the first quarter from a year earlier as oil prices jumped and oil trading boomed amid the war in the Middle […]

Oil Price

April 28, 2026

Iranian Tankers Pile Up Outside Hormuz as U.S. Blockade Tightens

At least six Iranian tankers laden with oil are loitering in a cluster near the port of Chabahar in Iran, outside the Strait of Hormuz but just inside the U.S. […]

Oil Price

April 28, 2026

UAE Quits OPEC and OPEC+ as Hormuz Crisis Drags On

The United Arab Emirates is leaving OPEC and OPEC+, effective May 1, the country’s state news agency WAM confirmed Tuesday, ending nearly six decades of membership and stripping the cartel of its […]

Oil Price

April 28, 2026

Oil Prices Dip as Trump Claims Iran is in “State of Collapse”

President Donald Trump posted on Truth Social Tuesday that Iran had “informed” his administration it was in a “state of collapse” and urgently wanted the Strait of Hormuz reopened. “Iran has just […]

Oil Price

April 27, 2026

Goldman Sachs Raises Oil Price Forecast Yet Again

Goldman Sachs once again raised its outlook for oil prices, now seeing Brent crude at an average of $90 per barrel in the fourth quarter of the year, and West […]

Oil Price

April 27, 2026

China’s Cleantech Machine Hits Top Gear as Oil Markets Crumble

Chinese exports of clean technology, including solar panels, electric vehicles, and batteries, surged to a record-high in March as the war in the Middle East resulted in a major oil […]

Oil Price

April 27, 2026

LNG Carrier Deliveries Set to Hit 100 This Year, Up 27% From 2025

Shipyards are expected to deliver up to 100 new LNG carriers this year, up from 79 last year, as new projects in the U.S. and demand for new and more […]

Oil Price

April 27, 2026

BP Shares Up 20% Since Iran War, Leading All Supermajors

The Iran war and the loss of oil and gas supply from the Middle East have upended the stock performance of the biggest international majors. BP, the laggard of the […]

Oil Price

April 27, 2026

Japan’s Top Utility JERA Has Secured LNG Supply Through July

Japan’s biggest LNG importer and largest power producer, JERA, has secured its LNG supply through July and will adjust its procurement strategy to be more flexible amid the Middle East […]

Oil Price

April 24, 2026

Goldman Sachs Sees Rapid Oil Output Recovery if Iran War Ends

Crude oil production recovery to pre-war levels could take just a few months, Goldman Sachs analysts said, adding a note of caution that recovery could also take longer than that. […]

Oil Price

April 24, 2026

Brent Tops $106 as Iran Tensions Escalate

Crude oil prices extended their gaining streak to five days today, with Brent crude trading at $106.30 per barrel at the time of writing and West Texas Intermediate at $96.68 per barrel. Bloomberg attributed the continued […]

Oil Price

April 24, 2026

Pakistan Turns to Russia and Venezuela as Middle East Oil Supplies Shrink

Pakistan’s government is looking to buy crude oil from Russia, Venezuela, and Nigeria to replace lost supply from the Middle East, Pakistan Today reports, adding that the government is also seeking […]

Oil Price

April 23, 2026

HSBC Downgrades Indian Equities Again as Oil Shock Deepens

HSBC has issued its second downgrade for Indian equities in a month citing the impact of the oil crunch caused by the war in the Middle East on the Asian […]

Oil Price

April 23, 2026

Japan Asks Saudi Arabia for More Oil Supply

Japan’s Prime Minister Sanae Takaichi on Thursday requested cooperation from the world’s top crude oil exporter, Saudi Arabia, in expanding energy deliveries to Japan amid the ongoing supply crunch. In […]

Oil Price

April 23, 2026

Japan’s Japex To Quadruple Oil and Gas Production, Eyes U.S. Expansion

Japan Petroleum Exploration (Japex) has unveiled plans to invest 1.16 trillion yen ($7.3 billion) in exploration and production in a bid to quadruple oil and gas output over the next […]

Oil Price

April 23, 2026

Chevron Restarts Wheatstone LNG Amid Global Gas Shortage

Chevron has restarted production of liquefied natural gas at its Wheatstone project in Australia after repairs prompted by cyclone damage in March. The repairs took a while due to the […]

Oil Price

April 23, 2026

Russian Oil Resumes Flowing to Slovakia via Druzhba After Three-Month Halt Shafaq News

Oil flows from Russia to Slovakia via the Druzhba pipeline resumed early on Thursday, Slovakia’s Economy Ministry said, as supply via the infrastructure crossing Ukraine was restored after a nearly three-month […]

Oil Price

April 22, 2026

Iran’s Covert Oil Trade Persists Despite U.S. Blockade

Iran continues to export its oil out of the Persian Gulf via the Strait of Hormuz using dark mode on tankers to move past the U.S. blockade outside the world’s […]

Oil Price

April 22, 2026

China’s Oil Giants Begin Selling Crude as Refinery Cuts Deepen

The trading arms of some of China’s biggest state-owned oil giants have started selling crude for May loadings in a rare move from the majors that have cut refinery rates […]

Oil Price

April 22, 2026

Global Oil Inventories Drift Toward Record Lows

Global crude oil inventories are approaching a record low as the war in the Middle East continues, decimating tanker traffic via the Strait of Hormuz, Goldman Sachs commodity analysts have […]

Oil Price

April 22, 2026

Australian State Bets on Biodiesel To Reduce Reliance on Oil

Australia’s state of Queensland will pour A$25 million in biodiesel production project in a bid to reduce its reliance on imported fuel amid a severe supply crunch resulting from the […]

Oil Price

April 22, 2026

Oil Flows via Druzhba Set To Restart Today

The flow of crude oil via the Druzhba pipeline from Russia to Germany will restart today, Reuters is reporting, citing an unnamed source. “Oil pumping is scheduled to begin tomorrow at […]

Oil Price

April 21, 2026

Pakistan Is Now Paying a Record Premium for Fuel Imports

Pakistan is paying an all-time high premium of $34 per barrel on petroleum product imports amid the supply crunch caused by the war in the Middle East. Previously, Pakistan State […]

Oil Price

April 21, 2026

U.S. Oil Exports Set to Hit Record High

The United States is set to export a record-breaking 5.44 million barrels of crude daily this month, data from Kpler cited by Reuters’ Clyde Russell has shown. In May, U.S. oil exports […]

Oil Price

April 21, 2026

Oil Markets on Edge as Trump Signals No Ceasefire Extension Without Agreement

The United States is “highly unlikely” to extend the U.S.-Iran ceasefire that expires in the coming hours, U.S. President Donald Trump told Bloomberg News in a telephone interview late on Monday. The […]

Oil Price

April 21, 2026

IEA: Strait of Hormuz Has Lost Its Status as Reliable Energy Route

The Middle East war and the crisis at the Strait of Hormuz could redraw the global energy map as world’s most critical oil chokepoint is no longer seen as a […]

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