Analysts warn the Strait of Hormuz's reopening will release two waves of constrained crude into tightening global inventories over weeks. Reopening the Strait of Hormuz will unleash a staggered double supply shock as both shipping-constrained and OPEC+-restrained crude bar
April vehicle sales in China fell to 1.4 million units, the lowest since 2022, as gasoline car demand collapsed amid high fuel prices. China’s car sales declined 21.5% in April to 1.4 million units, the lowest level since 2022, as demand for gasoline-powered vehicles weake
Narendra Modi urges citizens to reduce fuel, gold, and fertilizer use to curb India’s $174.9 billion annual oil import bill. Indian Prime Minister Narendra Modi asked citizens to conserve fuel, work from home, and limit travel to reduce foreign exchange outflows. The appea
Three vessels carrying Iraqi and Emirati oil turned off transponders to bypass monitoring in the key chokepoint last week. Three supertankers carrying crude oil from Iraq and the UAE exited the Strait of Hormuz last week after disabling their transponders to avoid detectio
Saudi Aramco posts a 26% year-on-year increase in adjusted net income for Q1, driven by rising crude prices and expanded pipeline capacity. Saudi Aramco reported a 26% jump in first-quarter adjusted net income to $33.6 billion, as higher crude prices and increased pipeline
Oil markets rise sharply as President Trump rejects Iran’s peace offer, fueling supply concerns amid geopolitical tensions. Brent crude surged 3.33% to $104.60 per barrel in early Asian trading Monday after President Trump rejected Iran’s response to a U.S.-drafted peace p
Shipping data reveals tankers carrying Gulf crude evaded tracking amid heightened tensions and Iranian threats in the Strait of Hormuz. Two very large crude carriers transported a combined 4 million barrels of Gulf crude through the Strait of Hormuz last week with transpon
Unusual trades in oil futures and prediction markets yielded $7 billion before undisclosed Iran-US developments, sparking insider trading concerns. Traders accumulated $7 billion in profits from oil futures and digital prediction markets by anticipating Iran-US military an
Strategic reserves depletion fails to offset lost Persian Gulf output, accelerating inventory declines at record rates. Global oil inventories are declining at an unprecedented pace as Middle East supply disruptions intensify. The final tankers departing the Persian Gulf h
US looks to refill Strategic Petroleum Reserve The US is exploring new ways to tap crude from federal lands as the Strategic Petroleum Reserve is being depleted. The reserve is being depleted due to emergency stock releases amid a global supply shock. This
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