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
Global oil supply gap nears 900 million barrels The world consumes roughly 100 million barrels of oil every day, but a significant portion of that supply has not been produced in recent months. The gap is not closing, with Shell CEO warning of a crude shortage of clos
Baker Hughes data shows a modest increase in active oil and gas rigs, signaling potential production growth. The US active drilling rig count rose by 1 to 548, marking a third consecutive weekly increase. The gain reflects a slight uptick in energy sector activity amid sta
Cenovus Energy warns regulatory uncertainty and climate focus are deterring capital for Canada’s oil sands expansion. Cenovus Energy CEO Jon McKenzie stated that Canada’s oil sands sector is losing investment due to policy uncertainty and a climate-focused regulatory envir