Oil Prices Surge to $84 as Supply Risk Becomes Real
Oil prices jumped by 8% early on Tuesday as markets brace for a prolonged conflict in the Middle East and fears of supply disruptions began to materialize. As of 7:00…
European Gas Prices Soar 30% as Qatar Halts LNG Output
Following a 40% surge on Monday, Europe’s benchmark natural gas prices soared by another 30% at opening on Tuesday as the halt of LNG production in Qatar, the world’s second-largest…
Analysts Warn of Largest Oil Supply Disruption in History
The war between the United States and Israel against Iran has the potential to be the largest oil supply disruption in history if oil flows via the narrow Strait of…
China Pressures Iran to Keep Strait of Hormuz Open to Oil and Gas Flows
China is pressuring Iranian officials to keep the Strait of Hormuz open, allow the passage of oil and LNG cargoes, and not attack tankers carrying energy supplies, anonymous senior executives…
Iran War Pushes Middle East Oil Tanker Rates to All-Time High
The freight rate for a supertanker carrying crude oil on the key Middle East-to-China route hit a record high of more than $420,000 per day on Monday as the war…
White House Prepares Plan to Combat Oil Price Spike
The United States will unveil a phased plan to mitigate the spike in oil prices amid the ongoing conflict in Iran and the wider Middle East, U.S. Secretary of State…
