Asia Steps In to Fill Diesel Supply Gap in Africa as Middle East Exports Crash
Asia’s diesel exports to Africa are surging to nearly five-year highs, as Middle East’s sales to Africa crashed to nine-year lows amid threats to shipping and refinery outages, a Reuters…
Iran Dismisses Trump Claim of Kharg Attack as Hostilities Return
Iran on Monday dismissed as “laughable” a Truth Social AI-generated post by U.S. President Donald Trump that the key Iranian oil export hub of Kharg Island is “being blown to…
China Coking Coal Prices Set for Record 46% Monthly Surge
Supply issues have been tightening the Chinese coking coal market for months, pushing the price of the key steelmaking raw material a record 46% in August alone, the biggest surge…
Europe Gas Prices Jump 5% to Highest Level Since 2023
European benchmark natural gas prices jumped by 5% in early morning trade on Monday as the re-escalation of hostilities between the United States and Iran intensified concerns about LNG supply…
Trump Says Venezuelan Oil Will Refill U.S. Strategic Petroleum Reserve
The United States will use Venezuelan crude to refill the Strategic Petroleum Reserve, President Donald Trump said on Sunday on social media. Describing the move as a “Gift from Venezuela…
Goldman Sachs Sees Diesel Refining Margins Soaring to $63 a Barrel
Refiners are set to reap stronger profits on the global diesel shortage, Goldman Sachs has said, revising its earlier profit forecast to double the total profits that refining companies would…
Asian Refiners Turn to Argentina as Iran War Disrupts Oil Supply
Asian crude oil importers, including China, Japan, and South Korea, have turned to buying oil from as far as Argentina to offset supply losses from the Middle East, anonymous traders…
Lithium Miners Cash In as Battery Storage Demand Surges
Lithium miners are reporting strong profits for the first half of the year thanks to stronger demand for battery storage, Bloomberg reported today, noting some of them are planning production…
Iran Says Supertanker Hit by Mines in Strait of Hormuz
A supertanker caught fire after hitting two naval mines in the southern Strait of Hormuz, Iranian state media reported on Monday, citing Iran’s Islamic Revolutionary Guard Corps. The tanker was…
China’s LNG Imports Set to Drop 18% in August as Prices Soar
China’s liquefied natural gas imports are on track to slump by 18% in August from a year earlier, bucking a three-month-long trend of growing purchases this summer, as high LNG…
