U.S. Oil Premiums Hit Record High as World Scrambles for Crude
The premiums for U.S. West Texas Intermediate crude have soared in the spot market to a record high of between $30 and $40 per barrel above key regional benchmarks as…
India Back to Buying Venezuelan Crude
India is set to import the most oil from Venezuela in almost six years, helping the world’s third-largest crude importer replace Middle East grades disrupted by the Iran war. More…
Energy Shock Prompts Analysts to Cut India’s GDP Growth Forecasts
India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising…
Ukraine Steps Up Drone Attacks on Russian Oil Infrastructure
The key Russian oil export terminal at Novorossiysk was on fire early on Monday following an overnight drone attack, as Ukraine intensifies strikes on Russia’s oil infrastructure to reduce its…
Two More Indian LPG Tankers Clear Strait of Hormuz
Two India-flagged tankers carrying liquefied petroleum gas (LPG) have added to the vessels that have managed to transit the Strait of Hormuz in recent weeks, as Iran allows selective traffic…
Qatar LNG Tankers Make First Move Through Hormuz Since War Began
Two tankers that loaded LNG from Qatar before the war began appear to be attempting to exit the Strait of Hormuz in what could be the first export of Qatari…
Saudi Arabia Sets Record Premium for Flagship Crude as Hormuz Crisis Deepens
Saudi Arabia has hiked the price of its flagship Arab Light crude loading for Asia in May to a record-high premium over the Middle Eastern benchmarks as the de facto…
Pakistan Emerges as Key Mediator in Push to End Hormuz Crisis
The United States and Iran have both received via Pakistan a plan for an immediate ceasefire that could reopen the Strait of Hormuz, Reuters reported on Monday, citing a source…
Nearly 50 Qatar LNG Tankers Sit Idle Across Asia
Almost 50 liquefied natural gas carriers used by Qatar to export the superchilled fuel are idled in Asia, Bloomberg has reported, citing data from Kpler. All the vessels are empty,…
OPEC+ Decides to Boost Production in May
A statement posted on OPEC’s website on Sunday revealed that Saudi Arabia, Russia, Iraq, the UAE (United Arab Emirates), Kuwait, Kazakhstan, Algeria, and Oman have decided to boost production by…
