Analyst Explains Friday’s Oil Price Rise
Crude is continuing to gap higher as the market still lacks clarity around the reopening of the Strait of Hormuz. That’s what Rebecca Babin, a senior equity trader for CIBC…
HSFO Prices Jump 40% as War Chokes Key Singapore Bunkering Hub
The price of fuel oil has surged this week as the stalled tanker traffic at the Strait of Hormuz is tightening supplies of the fuel in Asia, the key bunkering…
Daily Ship Traffic in Strait of Hormuz Plummets From 138 to Just 2
Vessel traffic through the Strait of Hormuz has dropped from an average of 138 ships a day to just two in the 24 hours to Thursday, the Joint Maritime Information…
Europe-Bound LNG Cargoes Divert to Asia as War Upends Gas Market
A growing number of LNG cargoes that were initially en route to Europe have sharply diverted in the Atlantic toward Asia via the Cape of Good Hope as Asian buyers…
IMF: Oil Price Shock Tests Global Economic Resilience
The surge in oil and LNG prices as a result of the Middle East war is testing the resilience of the global economy once again, IMF Managing Director Kristalina Georgieva…
Analysts See ‘Significant Yet Short Lived’ Oil Price Rallies
In a BMI report sent to Rigzone by the Fitch Group on Friday morning, analysts at BMI, a Fitch Solutions company, revealed that they expect “significant yet short lived rallies…
