Tehran orders Houthi forces to prepare attacks on Red Sea shipping if US strikes Iranian infrastructure, escalating oil chokepoint risks. Iran has instructed Yemen’s Houthi rebels to disrupt Red Sea oil shipping if the US attacks Iranian power infrastructure. Missiles and
September WTI crude jumped over 11% this week, reversing recent losses as tensions between the U.S. and Iran reignited supply concerns. September WTI crude oil climbed more than 11% this week, marking its strongest weekly gain in months. Prices rebounded from near $72.50 t
Retail fuel price hikes of $44.29 per ton for gasoline and $42.82 for diesel take effect July 18 amid a 12% weekly oil rally. China will increase domestic retail prices for gasoline and diesel starting July 18, citing a 12% rise in global crude oil prices over the past wee
China aims to diversify LNG imports away from Qatar and the Strait of Hormuz amid Middle East instability and supply risks. China’s state-owned LNG importers are in talks to lock in long-term supply deals with exporters that do not rely on the Strait of Hormuz. The move fo
Since the Iran war disrupted shipments through the Strait of Hormuz in early March, South Korea has been increasingly betting on the Red Sea route and the Saudi export terminal of Yanbu to load oil on tankers and ship it to Asia. Before the Iran war began, South Korea depe
Japan’s largest LNG importer and power producer is assessing investor demand for a potential U.S. listing. JERA, Japan’s top liquefied natural gas importer and largest power generator, is evaluating a U.S. initial public offering to support its international growth strateg
The discovery boosts Libya’s oil output potential as it partners with international firms to revive production amid OPEC’s supply constraints. Libya’s National Oil Corporation and Austria’s OMV have declared the Essar oil discovery commercially viable, following evaluation
Oil prices consolidate above key technical levels, with geopolitical tensions and supply concerns underpinning a bullish outlook. West Texas Intermediate crude oil trades near $79.00, extending its fourth consecutive day of consolidation during European trading. The price
Brent crude nears first $85 close in over a month as US-Iran strikes and Red Sea risks fuel supply disruption concerns. Brent crude oil climbed to $85.12 per barrel, up 1.06% on the day, poised for its first close above $85 in over a month. The rally stems from escalating
Islamabad plans to purchase up to seven additional LNG cargoes for July and August due to shipment delays from Qatar. Pakistan is moving to secure additional spot LNG cargoes for July and August after traffic disruptions in the Strait of Hormuz halted shipments from its pr
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