The Unbroken Glass: Bab al-Mandab And The Risk Of Asymmetric Escalation
Alliances are drafted for contingencies their signatories hope will remain theoretical. The Makkah Joint Defense Agreement – concluded in August by Saudi Arabia, Turkey and Pakistan – was one such...
View ArticleGoldman ups Dec’26 oil forecast to $90/bbl; 2027 worst-case pegged at $125
Goldman Sachs has upped its December 2026 crude oil price forecast by 6 per cent to $90 per barrel (bbl) from $85 a barrel earlier given the supply-side risks in the backdrop of West Asia war. The...
View ArticleGuyanese crudes drop to lowest on record as freight costs hammer FOB values
Platts assessed Guyanese crudes at their weakest level to Dated Brent since assessments began in 2023 as shipping costs continue to rise. “Crazy market,” said one trader active in the Americas crude...
View ArticleOil prices drop as stocks rise after Trump touts ‘energy ceasefire’
Most stock markets rose early Monday as oil prices fell after Donald Trump announced an “energy ceasefire” between Russia and Ukraine, which offset a fresh wave of Houthi attacks on Saudi Arabia. Both...
View ArticleUS rig count increases
The total number of rigs drilling for crude oil and natural gas in the US increased by five to 603 in the week ending 9 October, according to Baker Hughes. The number of oil rigs rose by six to 462,...
View ArticleThe Commodities Feed: Oil lower despite Middle East escalation
Energy – Middle distillate cracks trade lower on Trump diesel deal After a weekend of escalation in the Middle East and the risk of the conflict broadening, one would think oil prices would be trading...
View ArticleIEA statement on responding to the global diesel market situation
Ahead of the IEA Governing Board meeting on 15 October, IEA Executive Director Fatih Birol has written to IEA Member governments on the subject of tightening global diesel markets. In the message, Dr...
View ArticleWest African differentials drop with high freight, growing competition
Soaring freight costs are breaking global crude oil arbitrages and having a particular effect on WAF barrels, with differentials coming under pressure. Key takeaways • West African differentials...
View ArticleWhy are EU gas prices not higher already?
European natural gas prices have remained relatively contained despite major disruptions to Middle Eastern liquefied natural gas (LNG) exports, as additional supply and weaker demand have cushioned the...
View ArticleUK Natural Gas Prices Rise to 2022 High
UK natural gas prices rose to 205.3 pence per therm, the highest since December 2022, as increased tanker attacks in the Strait of Hormuz and escalating regional tensions heightened concerns over the...
View ArticleIEA’s extra oil release would come only after implementing existing...
The International Energy Agency’s extra oil release would come only after the implementation of existing obligations, Keisuke Sadamori, the IEA’s former director of energy markets and security, told...
View ArticleWhy rising exports aren’t easing oil market fears
Middle East oil exports are recovering toward pre-war levels, but soaring freight costs, tanker shortages and disruption around key shipping routes are keeping pressure on the market, according to PVM...
View ArticleUS energy firms add oil and gas rigs for fourth week in five
US energy companies increased their drilling activity this week, adding rigs for the fourth time in five weeks, according to Baker Hughes on Friday. The total oil and gas rig count rose by five to 603...
View ArticleIndia’s upstream strategy seeks to reset economics of deepwater exploration
India is accelerating efforts to unlock its offshore oil and gas potential through a key policy initiative that combines public investment, financial support, and risk-sharing measures aimed at making...
View ArticleUS plans Alaska offshore oil lease sale for March 2027
The US Interior Department proposed Friday to hold an offshore oil and gas lease sale in Alaska’s Cook Inlet on March 3, 2027, offering approximately 1.05 million acres for drilling. The proposed sale,...
View ArticleChina’s desert oil field produces over 26 mln tonnes of oil and gas
China’s largest desert oil field has produced more than 26 million tonnes of oil and gas from reservoirs more than 6,000 meters underground, according to China National Petroleum Corporation (CNPC)....
View ArticleASIA CRUDE MOC PERFORMANCE: 5.5 mil barrels change hands for Sep loading
Market participants in the Platts Middle East crude Market on Close assessment process have completed the physical performance of 5.5 million barrels of Oman crude for loading in September, according...
View ArticleDiesel crunch deepens as shipping costs squeeze global oil trade
Crude flows from the Persian Gulf are recovering toward pre-disruption levels before the US-Iran war, but diesel and shipping markets remain under severe strain, prompting Asian and European buyers to...
View ArticleStrategic stock release resets diesel
The announcement that the G7 will release up to 100 million barrels of diesel and crude oil over the next four months in coordination with the IEA has effectively reset gasoil markets, triggering a...
View ArticleG7’s 100-million-barrel pledge tied to unfinished March emergency oil release
The G7, led by France, announced the release of 100 million barrels of diesel and crude oil after Trump threatened a ban of diesel exports. G7 countries have agreed to release up to 100 million barrels...
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