Oil Price Shock Fuels 35% Surge in Global EV Sales
Following a subdued start to the year, sales of electric vehicles (EVs) jumped in the second quarter after the Middle East crisis slashed crude supply and hiked oil and fuel…
Shell Reports $9.8 Billion in Adjusted Earnings as Energy Prices Surge
Shell (SHEL:NYSE) more than doubled its second-quarter earnings from a year earlier, as higher oil and gas prices, record refinery utilization, and strong trading boosted profits to above analyst expectations.…
Qatar Sends First LNG Cargo Through Hormuz Since Tanker Attack
QatarEnergy has successfully sent an LNG cargo via the Strait of Hormuz, three weeks after one of its LNG carriers was struck in the waterway, Bloomberg has reported, noting that…
Japan Buys Rare Canadian Oil Cargo
Japan’s biggest refiner, Eneos, has bought a rare cargo of Canadian crude as the country seeks to diversify away from Middle Eastern crude. This is the first Canadian oil shipment…
Oil Prices Slip Despite New Attacks Across the Middle East
Crude oil prices ticked lower today on reports that oil tankers were still passing through the Bab el-Mandeb Strait, despite information about renewed strikes between the U.S. and Iran, and…
Glencore Sees $3.3 Billion Trading Profit as Iran War Rattles Oil Markets
Commodity producing and trading giant Glencore expects to post a profit of $3.3 billion in its marketing division for the first half of the year, as extreme market volatility during…
Indian Oil Eyes Stakes In Gas Carriers To Cut U.S. LPG Freight Costs
Indian Oil Corp. is seeking 50% ownership stakes in very large gas carriers, a first for an Indian refiner, as the company prepares to transport higher volumes of U.S. liquefied…
Qatar Turns to American LNG After Iran War Cripples Ras Laffan
Qatar’s state-owned QatarEnergy has bought on the spot market as many as 33 cargoes from the United States so far this year to ship them to customers in Asia to…
Goldman Sachs: Diesel Crunch Is Now the Biggest Threat in Oil Markets
The biggest oil supply squeeze is currently in diesel markets amid the lowest global refining activity for this time of year since the 2020 pandemic, Goldman Sachs says. War-induced refinery…
Iran Says Two Oil Tankers Ditched Attempt to Transit Hormuz
Two oil tankers that had attempted to transit the Strait of Hormuz with U.S. support via the southern lane close to Oman have turned back after one of them caught…
