Saudi Arabia Offers 2 Million Barrels for Sale From the Red Sea
Saudi Arabia has opened a tender for two million barrels of its flagship Arab Light grade for loading this month from its Red Sea port of Yanbu, Reuters has reported,…
Oil Prices Head for Weekly Gain Despite U.S. Waiver on Stranded Russian Crude
Crude oil prices were on course for another weekly gain today, despite a temporary dip following the announcement of a 30-day sanction waiver on Russian crude stuck on tankers as…
Oil Prices Dip as U.S. Opens Brief Window for Stranded Russian Crude
Oil prices edged lower in early Asian trade on Friday morning after the United States issued a temporary license allowing countries to purchase Russian crude and petroleum products currently stranded…
Analyst Warns of ‘Big, Big Risk’ for Oil Over Weekend
No one in their right mind would dare to sit short oil over the coming weekend. That’s what Skandinaviska Enskilda Banken AB (SEB) Chief Commodities Analyst Bjarne Schieldrop stated in a…
Iran Warns Gulf Energy Assets Could Burn if Its Oil Facilities Are Targeted
Iran’s Islamic Revolutionary Guard Corps (IRGC) warned Thursday that it could ignite a wider energy crisis across the Middle East if Iran’s own oil and gas infrastructure comes under attack.…
DOE Unveils $1.9 Billion Electric Grid Upgrade Push
The U.S. Department of Energy is launching a $1.9 billion funding effort aimed at rapidly expanding the capacity of the nation’s power grid by upgrading existing transmission lines. This is…
UAE Cuts Crude Shipments to Partners
Abu Dhabi National Oil Co. cut the volume of crude for its onshore partners by about a fifth for this month, although the flows will still go to a port…
Trump Weighs Rare Jones Act Waiver as War Drives Fuel Prices Higher
The Trump administration is weighing a rare suspension of the century-old Jones Act, an extraordinary step that Washington has historically taken only during major national emergencies such as hurricanes or…
Iraq to Hold Oil Output Near 1.4 Million Bpd as War Strangles Exports
Iraq will maintain crude oil production at roughly 1.4 million barrels per day as the war disrupting the Persian Gulf continues to cripple the country’s export routes, Oil Minister Hayan…
