Oil: Hormuz risk repricing with fragile support – BNY BNY’s Geoff Yu notes Oil prices have stabilized near $80 as markets digest Iran’s proposed shipping route with Oman through the Strait of Hormuz. The temporary arrangement has reduced perceived disruption risk for Brent
Oil prices stabilize near $80 as markets digest Iran's proposed shipping route Oil prices have stabilized near $80 as markets digest Iran's proposed shipping route with Oman through the Strait of Hormuz. The temporary arrangement has reduced perceived disruption risk
UK regulator grants six-month extension for P2170 licence, aligning development timelines with Buchan Horst project in Greater Buchan Area. The North Sea Transition Authority has approved a six-month extension for Jersey Oil & Gas’s P2170 Verbier licence, setting a new exp
India’s state-run refiners continue their buying spree of crude from West Africa as the Middle East crisis has sapped supply and made deliveries uncertain. In one of the latest purchases via a tender, India’s state-owned refiner Hindustan Petroleum Corporation Limited (HPC
Nigeria’s upstream regulator forecasts $30 billion to $50 billion in offshore oil and gas investments over the next five years. Nigeria aims to secure between $30 billion and $50 billion in investments for 22 offshore oil and gas projects by 2029. The projects are expected
The UAE has bypassed Strait of Hormuz disruptions, boosting crude exports to pre-crisis volumes via pipelines and offshore transfers. The United Arab Emirates has increased oil exports to pre-crisis levels as of June, despite ongoing disruptions in the Strait of Hormuz. Th
China’s largest refiner secures 241,000-320,000 bpd of Russian ESPO crude amid Middle East shipping disruptions. Sinopec has increased purchases of Russia’s ESPO crude blend for third-quarter delivery, booking 30-40 shipments totaling 241,000 to 320,000 barrels per day. Th
Brent crude holds below $80 as strong US distillate exports and Middle East disruptions tighten refined product supplies. ICE Brent crude remains below $80 per barrel as markets weigh a potential US-Iran deal to restore energy flows through the Strait of Hormuz. Iran and O
Rising global diesel shortages and Middle East energy disruptions drive US export levels to an all-time high last week. US diesel exports reached a record 1.9 million barrels per day last week, the Energy Information Administration reported. The surge reflects heightened g
A potential joint management agreement for the Strait of Hormuz emerges as Brent crude falls to $79.12 per barrel amid geopolitical developments. Iran and Oman are finalizing a deal to jointly manage the Strait of Hormuz, a critical chokepoint for global oil shipments. The
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