Fujairah Suspends Oil Loadings After Another Attack
Fujairah, the UAE’s key oil export port, suspended oil loadings on Monday after another attack on the only UAE port located outside the Strait of Hormuz. The escalating conflict spreading…
Japan Taps Emergency Oil Reserves
Japan has started releasing oil from its reserve to stabilize supply amid the continuing tanker traffic freeze in the Strait of Hormuz. Initially, the government will release 15 days’ worth…
Trump Announces ‘Bombing Raid’ at Kharg Island
In a statement posted on his Truth Social page late on March 13, U.S. President Donald Trump announced a “bombing raid” at Kharg Island. “Moments ago, at my direction, the…
EU Ministers Race to Shield Industry From an Escalating Energy Shock
The European Union is in a rush to find ways to alleviate the energy cost pain for consumers and businesses, with energy ministers of member states set to meet later…
Sinopec Slashes Refining Runs as Hormuz Disruption Squeezes Crude Supply
Sinopec, China’s biggest oil refiner, has reduced its run rates by 10%, Bloomberg reported today, citing unnamed sources, in response to the supply squeeze resulting from the traffic disruption in…
