LNG Shipping Rates Soar 650% to $300,000 Per Day
The global LNG shipping market has turned sharply higher in recent days, with charter rates for modern LNG carriers surging from roughly $40,000 last week to around $300,000 per day…
Japanese Refiners Urge Government to Release Strategic Oil Reserves
Japan’s oil refiners, which source about 95% of their crude supply from the Middle East, are calling on the Japanese government to tap the strategic petroleum reserves to ensure smooth…
Asia’s Refining Margins Soar to 4-Year High as Hormuz Chokes Crude Supply
Disrupted crude flows from the Middle East to Asia due to the de facto closure of the Strait of Hormuz has pushed Asian refining margins to the highest in four…
Asian LNG Prices Fall on U.S. Plan to Secure Hormuz Strait
Asia’s spot LNG prices fell on Thursday from the three-year high hit on Wednesday after U.S. President Donald Trump pledged the United States would “immediately” provide “political risk insurance and…
Two Russian Urals Tankers Divert 1.4 Million Barrels to Indian Ports
Two tankers carrying Russian crude initially to East Asia have now diverted to India, Bloomberg has reported, as Asia grapples with an oil supply crunch amid the Strait of Hormuz…
Dozens of Asia-Flagged Oil Tankers Stranded near Strait of Hormuz
Dozens of Indian and South Korean oil tankers and more than 1,100 crew are currently stranded in and around the Persian Gulf as the critical chokepoint the Strait of Hormuz…
