Asian Refiners Mull Slashing Crude Processing as Iran War Threatens Supply
Asian refiners, particularly state-held majors heavily dependent on Middle East oil supply, are considering slashing crude run rates by up to 30% amid the war in Iran that is holding…
U.S. Not Planning To Tap Strategic Petroleum Reserve Immediately
The United States does not plan an immediate release crude from the Strategic Petroleum Reserve (SPR) as a means to mitigate the effect of the Iran war on global oil…
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…
