Global supertanker orders surge to 262 vessels, the highest ever, as shippers secure capacity through 2030 due to Middle East risks. The global orderbook for Very Large Crude Carriers has reached an all-time high of 262 vessels, surpassing the previous record of 254 set in
Diesel prices drop to $5.21/gallon The average weekly retail diesel price has fallen to $5.21/gallon. This is the lowest price since the start of hostilities against Iran in March, when prices were $4.859/g and $5.071/g. The decline in diesel prices comes a
Oil prices fall to a three-month low on easing supply concerns, breaking key technical levels and shifting momentum to sellers. West Texas Intermediate crude oil slid $3.50 to $87.70, its lowest level since May 29, as traders unwound geopolitical risk premiums. The decline
Higher prices and Middle East supply disruptions cut India's fuel consumption last month, official data show. India's total fuel demand fell 6.5% year-over-year in May, driven by a 20% drop in liquefied petroleum gas sales. Gasoline consumption declined 6.1%, while diesel
Eni and Petronas launch joint venture for Indonesian and Malaysian assets Eni and Petronas have established Searah, a 50:50 independent joint venture. The new venture will oversee a significant portfolio of gas-producing and development assets in Indonesia and Malaysi
Asia’s benchmark LNG prices are set to jump to the highest level in three and a half years in the second half of 2026 as demand is rising amid high electricity summer demand and the EU needs to refill depleted gas storage sites, Morgan Stanley analysts reckon. The Asian LN
China's oil imports fell to 33 million barrels in May China's crude oil imports declined to their lowest level in eight years. The May total stood at 33 million barrels, or 7.8 million barrels daily. This is a significant decrease from the average daily import rate
Arthur Hayes says looming SpaceX, Anthropic, and OpenAI listings plus higher crude prices could trigger an AI sector correction. Former BitMEX CEO Arthur Hayes has flagged potential downside for the AI sector, citing three upcoming high-profile IPOs—SpaceX, Anthropic, and
Retail passenger car sales in China fell to 1.51 million units in May, with new-energy vehicles dominating amid high oil prices. China’s retail passenger car sales dropped 22.1% year-on-year in May to 1.51 million units, reflecting weak domestic demand and elevated oil pri
API warns SPR drawdowns limit emergency intervention capacity as gasoline stocks fall by 38 million barrels this season. The US Strategic Petroleum Reserve has declined to 350 million barrels, approaching a functional floor of 70 million barrels required for operational in
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