Turkey’s Biggest Refinery Fire Jolts Tight Refining Market
Oil markets got a jolt this week after an explosion and fire tore through part of Türkiye’s largest refinery, the Tupras Izmit complex, forcing evacuations and an emergency response. The…
Washington Probes Who’s Cashing In on Venezuela’s Oil Reset
Washington is starting to ask the quiet part out loud: who, exactly, is making money off Venezuela’s oil? This week, U.S. Representative Robert Garcia, the top Democrat on a House…
Citi Downplays Risk of a Major Iran Supply Shock
Citi commodity analysts have downplayed the risk of a major oil supply disruption from the latest U.S. escalation against Iran, predicting limited military action against the country from the U.S.…
Zelenskiy Invites Russia to Energy Strikes Truce
Ukraine is ready to halt strikes on energy infrastructure if Russia agrees to abide by a US proposal for a weeklong truce, President Volodymyr Zelenskiy said. “If Russia does not…
Gold Briefly Jumps Toward $5,600 as Iran Tensions Flare
Gold prices surged sharply on Thursday morning as energy markets jolted higher following fresh Iran-related rhetoric from U.S. President Donald Trump, briefly sending oil prices up by as much as…
Malaysia’s Petronas to Boost Exploration to Maintain Domestic Output
Malaysia’s Petronas plans to boost exploration, deepwater development, and enhanced oil recovery over the next three years as it looks to maintain its domestic oil and gas production stable at…
Citgo Buys Venezuelan Oil for the First Time Since 2019 Sanctions
Citgo Petroleum, the U.S.-based refiner formerly owned by Venezuela’s state oil firm PDVSA, has bought its first Venezuelan crude under U.S. control, anonymous sources with knowledge of the situation have…
