NO TAKERS: Oil Companies Shun Trump Administration’s Alaska Offshore Auction

(Reuters) – Oil and gas drillers failed to show up at the Trump administration’s sale of more than 1 million acres (404,686 hectares) in Alaska’s Cook Inlet on Wednesday, declining…

Americas Heavy Crude Prices Hit Multi-Year Highs as Iran Conflict Disrupts Oil Markets

Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East.…

US Diesel Hits $4 Per Gallon as Fuel Costs Rise Amid Escalating Middle East Conflict

Reuters Prices for diesel, used mainly in manufacturing and freight, have been on a tear since Iran began retaliating against U.S. and Israeli strikes on the country by bombing energy…

India Seeks US Marine Cover for Middle East Energy Cargoes, Source Says

(Reuters) – India is in talks with the United States to secure marine cover for vessels shipping oil from the Middle East, as New Delhi seeks ​to shield buyers from…

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…

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…

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…