Valero Shuts Major Refinery After Explosion as Fuel Markets Tighten

Valero has shut down its Port Arthur refinery after an explosion late on Monday set a diesel processing unit on fire, Reuters has reported, citing unnamed sources. Other reports say…

Indian Refiners Cautious Over Iranian Oil Despite U.S. Waivers

The state refiners in India, the world’s third-largest crude importer, have not shown willingness to purchase Iranian crude that has now been ‘unsanctioned’ by the U.S. for a month, amid…

UAE: Weaponizing Hormuz is Economic Terrorism Against the World

Iran’s weaponization of the energy and trade flows through the Strait of Hormuz amounts to economic terrorism against every nation in the world, according to the United Arab Emirates (UAE),…

OIL RISES as Supply Disruption Persists and Iran Denies US Talks

Summary Trump says US, Iran have ‘major points of agreement’ Iran rejects claim of contact with Washington Macquarie says Brent could hit $150 if Hormuz shut through April (Reuters) –…

CERAWeek: Mideast Situation Shows Need for Energy Diversification, Says Cheniere CEO

By Jack Fusco, President and CEO of Cheniere Energy during the CERAWeek energy conference in Houston, Texas, U.S., March 7, 2023. Get the Latest US Focused Energy News Delivered to…

Japan Moves to Release Oil Stockpiles as Energy Crisis Deepens

Japan is preparing to start releasing crude oil from stockpiles held jointly by the country and oil producers as well as national stocks, Prime Minister Sanae Takaichi said in an…

Tanker Carrying Iraqi Oil Crosses Hormuz

A very large crude carrier under a Panama flag has passed through the Strait of Hormuz carrying 2 million barrels of Iraqi crude, Bloomberg has reported, citing ship-tracking data. This…