US Crude Oil, Oil Product Inventories Come Crashing Down
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 4.4 million barrels in the week ending April 17. In the week prior, US…
China Oil Buying Set to Return After Stockpile Drawdown
China is likely to return to buying large volumes of oil within weeks after selling down inventories during the peak of the Iran supply disruption, according to Mercuria. Marco Dunand,…
Trump Extends Iran Truce, Blockade
US President Donald Trump indefinitely extended a ceasefire with Iran just before its expiration, while maintaining a naval blockade of the Strait of Hormuz after planned peace talks between the…
AI and geopolitics creating ‘perfect storm’ for cyber attacks
By 5 min ago 3 min read The boom in artificial intelligence (AI) and geopolitical tensions are giving rise to increased cybersecurity threats, according to the head of the UK’s…
Ukraine Strike Halts Oil Processing at Novokuibyshevsk Refinery
Primary oil processing at Rosneft’s Novokuibyshevsk refinery has been halted. The outage, which began on April 18 after a Ukrainian drone strike, encompasses the first stage of crude processing at…
Norway Pumps Near Capacity as Spare Output Buffer Disappears
Norway kept petroleum production near peak levels in March 2026—but the more important signal for oil markets is that the country is now operating with virtually no spare capacity. At…
Sanctioned Iranian VLCC Crosses Hormuz Line Hours Before Ceasefire Deadline
An Iranian supertanker, which had delivered 2 million barrels of crude to a ship-to-ship transfer offshore Indonesia, is en route to return to Iran’s Kharg Island after entering the Strait…
Long-Haul Flight Fares Soar as Iran War Hits European Aviation Hard
The Middle East crisis and the subsequent jet fuel crunch have sent airline ticket prices soaring, with an estimated $105 (90 euros) increase per long-haul flight from Europe since the…
Activists Sue Shell Over Emissions, Again
Environmental activists on Tuesday launched a new lawsuit against Shell in the Netherlands, demanding that the supermajor stop bringing new oil and gas fields on stream to avoid additional emissions.…
Iran, US Talks Hit Impasse as Truce Nears Expiry
(Update) April 21, 2026, 3:00 PM GMT: Article updated throughout. The US is still in the dark on whether Iran will take part in fresh talks to end the war…
