Iran Warns Oil Could Hit $200 per Barrel as Hormuz Threat Escalates
Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S.…
Iranian Drone Strike Hits Oman’s Largest Oil Storage Facility
Iranian drones struck oil storage facilities at the Port of Salalah in Oman on Wednesday, marking the latest attack on Gulf energy infrastructure as the regional war expands into a…
IEA Launches Record 400-Million-Barrel Emergency Oil Release
The International Energy Agency (IEA) and its member nations have agreed to release a record 400 million barrels of oil from strategic reserves in an attempt to stabilize global energy…
Aramco Asks Asian Buyers for Dual Red Sea-Hormuz Oil Supply Plans
Saudi Arabia’s oil giant Aramco is requesting from Asian buyers to nominate crude loading plans for April for both its key export port in the Gulf and the export alternative…
EU Mulls Capping Gas Price as Energy Costs Spike on Iran War
The European Union is considering emergency relief measures in the wake of the energy price spike amid the Middle East war, including capping the price of natural gas, European Commission…
Shell and TotalEnergies Issue Force Majeure After Qatar LNG Shut Down
Several major energy traders have begun declaring force majeure to their own customers after Qatar’s LNG shutdown rippled through global gas markets, according to Reuters sources on Wednesday. Companies including…
G7 Backs Oil Reserves Release to Curb Middle East Supply Crunch
The G-7 group of the world’s most advanced economies support in principle the idea to release strategic petroleum reserves to calm the market as supply from the Middle East is…
