Iran Claims It Has “Complete Control” Over Strait of Hormuz
Iran’s Islamic Revolutionary Guard Corps (IRGC) declared it has “complete control” of the strategic waterway, with fresh attacks on commercial vessels near the Strait of Hormuz overnight intensifying fears that…
Japan Refiners Ask Government to Tap Crude Stocks
Japanese oil refiners are asking the government to release crude from the nation’s strategic petroleum reserves as the Middle East crisis worsens, according to people familiar with the matter. The…
Asia oil crunch deepens as Middle East conflict disrupts fuel supplies
(Bloomberg) – A deepening energy crunch across Asia is impacting all corners of the oil market, with suppliers of everything from shipping fuel to cooking gas beginning to cut back…
QatarEnergy Declares Force Majeure After Halting LNG Production
QatarEnergy has declared force majeure on liquefied natural gas (LNG) supplies after suspending production at key export facilities, sending fresh shockwaves through global energy markets already rattled by the escalating…
Indian Refiner MRPL Declares Force Majeure on Gasoline Exports
Indian state-run refiner Mangalore Refinery and Petrochemicals Limited (MRPL) has declared force majeure on all planned gasoline export cargoes for March and April as the Middle East war is halting…
Asian Markets in Free Fall as Oil Price Surge Stokes Inflation Fears
Investors in Asia are dumping technology stocks as they brace for an inflation shock from the surging oil prices that would delay interest rate cuts or even lead to increased…
Goldman Sachs Hikes Q2 Brent Oil Price Forecast by $10
The all but halted flows via the Strait of Hormuz will deplete oil inventories in advanced economies, prompting a rise in oil prices, Goldman Sachs said on Wednesday as it…
Asian LNG Prices Soar to Three-Year High
Liquefied natural prices on the Asia spot market surged to the highest in three years after QatarEnergy suspended production following Iranian strikes on its LNG facilities. According to traders quoted…
