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…
Crude Oil Jumps 4% as Traders Price In Supply Disruption
Oil prices rebounded early on Wednesday as the market fears a massive supply crunch from the ongoing blockage at the Strait of Hormuz, which offset reports that the IEA is…
Cargo Ship Hit by Projectile in Strait of Hormuz as Tanker Crisis Continues
A cargo vessel has been hit by an unknown projectile in the Strait of Hormuz, which has ignited a fire onboard, the United Kingdom Maritime Trade Operations (UKMTO), a Royal…
Tankers Avoid Emirati Port as Gulf War Risk Disrupts Oil Exports
Shipping companies have grown reluctant to call at the port of Fujairah in the UAE, prompting cancellations of oil cargoes that Adnoc is then reselling at higher prices, Bloomberg has…
Qatar’s LNG Shutdown Sends Shockwaves Through Global Gas Markets
QatarEnergy’s shutdown of its LNG production complex has resulted in a streak of five days with zero shipments of the superchilled fuel, according to Kpler data cited by Bloomberg. This…
