Iran May Allow Indian Tankers Through Hormuz Despite Ongoing Shipping Attacks
Iran is set to allow India-flagged tankers to pass through the Strait of Hormuz, an Indian source told Reuters on Thursday amid conflicting reports about the situation at the world’s…
China Halts Fuel Exports as Hormuz Crisis Tightens Global Supply
The Chinese government has moved to ban all fuel exports amid a worsening supply crunch because of the severe disruption in tanker traffic in the Strait of Hormuz. The ban…
Trump Taps Strategic Petroleum Reserve in Response to Iran Shipping Attacks
President Trump has ordered the release of 172 million barrels from the strategic petroleum reserve to cushion the blow to global oil supply from the paralysis of the Strait of…
Goldman Sachs Raises Oil Price Forecast as Middle East Conflict Escalates
Goldman Sachs has once again revised its oil price outlook, now expecting Brent crude to trade at $71 per barrel in the final quarter of the year, and WTI to…
Two Oil Tankers Set Ablaze Near Iraq’s Key Export Terminals
Two oil tankers carrying Iraqi oil products caught fire Wednesday after being struck in Iraqi territorial waters near the country’s southern export terminals, according to Iraqi port officials and multiple…
Oil Prices Surge Despite Record-Breaking Strategic Reserve Release
Oil prices climbed sharply on Wednesday even after the International Energy Agency announced the largest coordinated release of strategic oil reserves in its history, underscoring the scale of supply concerns…
