Oil tanker arrives with 1 million barrels of crude An oil tanker has arrived in South Korea with 1 million barrels of crude oil, marking the first shipment to the country via the Strait of Hormuz since the war began. The shipment is significant, as it accounts for
Recent progress in US-Iran negotiations and a pause in military actions ease supply concerns, pressuring crude prices lower. Oil prices extended losses this week as diplomatic efforts between the US and Iran reduced fears of supply disruptions. The Trump administration pau
Over 40 India-bound ships carrying energy and fertilizer remain trapped west of the Strait of Hormuz, disrupting supply chains. More than 40 vessels destined for India, including nearly half carrying crude oil, LPG, LNG, and fertilizer, remain stranded near the Strait of H
The International Energy Agency highlights a 14 million barrel daily supply shortfall due to Middle East conflict, urging Canada to expand production. The International Energy Agency stated Canada has a critical opportunity to boost oil and gas output as the Middle East wa
Brent futures fluctuated sharply as conflicting White House signals and algorithmic trading amplified volatility amid geopolitical risks. Brent crude prices swung wildly, dropping to $93 per barrel before rebounding to $102.9 overnight, driven by shifting war headlines and
Crude oil shortage worsens with Iran war Shell CEO Wael Sawan warned of a nearly 1B barrel crude oil shortage. The shortage is expected to worsen each day the Iran war continues. This shortage will have significant implications for global oil markets and pr
Islamabad rejects all bids for two LNG cargoes as prices fail to meet budget constraints during an acute supply crisis. Pakistan has rejected all seven bids submitted for an urgent tender to purchase two liquefied natural gas cargoes, citing unacceptably high prices. The t
Regulators investigate large March-April oil trades linked to subsequent price drops following presidential remarks. The Commodity Futures Trading Commission is examining $7 billion in short oil bets placed in March and April. The trades preceded statements by President Do
Oil prices retreat as traders weigh potential diplomatic progress against ongoing Middle East tensions. West Texas Intermediate crude fell to $92.45 in early European trading, extending losses below $92.50. The decline comes amid optimism over a possible US-Iran ceasefire
Oil prices spike as military confrontation threatens month-long ceasefire in key shipping lane. Brent crude jumped 2.64% to $102.70 per barrel in early Asian trading after the U.S. and Iran exchanged fire in the Strait of Hormuz. West Texas Intermediate climbed 1.95% to $9