Daily Energy Report
U.S. crude oil inventories slipped 4.3 million barrels last week, bringing total stocks to 452.9 million barrels, while gasoline supplies fell 4.1 million barrels to 215.7 million. The Strategic Petroleum Reserve was drawn down by 8.6 million barrels, leaving 384.1 million barrels on hand. Distillate stocks edged higher, but refinery utilization jumped to 91.7%, pushing crude inputs up to 16.66 million barrels per day. Simultaneously, both crude imports and exports rose, reflecting active trade amid tightening supplies.
Daily Energy Report
China’s crude oil imports plunged by more than 2.6 million barrels per day in March and April 2026, marking the lowest import levels in seven years. The drop coincided with a sharp price rise and the Hormuz Strait crisis, which constrained...
Daily Energy Report
India’s strategic petroleum reserves (SPR) are being drawn down faster, causing a noticeable dip in the country’s crude oil inventories. Prime Minister Narendra Modi urged citizens to curb fuel use amid a Hormuz‑driven global price surge, framing the call as...
Daily Energy Report
Global gasoline exports have plunged after the Strait of Hormuz was shut, eliminating roughly 120,000 barrels per day that previously flowed through the chokepoint. The abrupt loss sparked localized shortages and nudged retail prices higher, although the overall gasoline market...
Daily Energy Report
Global jet fuel exports slumped roughly 50% after the Strait of Hormuz was closed, triggering a sharp price spike and widespread flight cancellations. The supply shock compressed jet fuel demand and, by extension, overall oil demand. Data shows that several...
Daily Energy Report
Oil markets tumbled on May 6 after Axios reported a near‑final US‑Iran memorandum of understanding that could end hostilities and reopen the Strait of Hormuz. Brent crude dropped more than 13%, briefly slipping below $100 per barrel to around $98...
Daily Energy Report
Goldman Sachs warned global oil inventories are sliding toward an eight‑year low, now around 101 days of demand and projected to fall to 98 days by the end of May. The decline follows geopolitical shocks, including Iran’s attack on Hormuz...
Daily Energy Report
Oil prices surged on May 4 as Iran intensified drone and missile attacks on UAE infrastructure and shipping in the Strait of Hormuz, pushing Brent crude to about $115 a barrel and WTI to $106. The United States responded with...
Daily Energy Report
The ongoing Iran‑Russia conflict has fractured Asia’s diesel market, creating a two‑tier system where affluent refiners like China and South Korea curb exports while poorer importers scramble for supply. India, needing export revenue, has continued to ship diesel, with March...
Daily Energy Report
U.S. crude output rebounded in February, climbing 389,000 barrels per day to an average of 13.626 million bpd, according to the EIA. Gains were driven by Texas (+246,000 bpd) and New Mexico (+190,000 bpd), while the Gulf of Mexico and North Dakota saw...
Daily Energy Report
OPEC released its 61st Annual Statistical Bulletin, detailing 2025 oil market fundamentals. Global oil demand rose to 105.15 million barrels per day, a 1.30 mb/d increase, while crude production climbed to 74.85 mb/d, up 2.24 mb/d. Refining capacity inched higher to 103.66 mb/d and exports...
Daily Energy Report
The United Arab Emirates announced it will leave OPEC effective May 1, cutting the cartel’s membership to 12. The move is linked to the ongoing Iran‑Israel conflict, which is reshaping regional oil dynamics. UAE crude output, which rose in 2025, has...
Daily Energy Report
U.S. diesel exports surged to a record high in April 2026, driven by a global shortage sparked by the Hormuz crisis. Monthly export volumes have risen sharply since 2017, with a 35% year‑over‑year increase since the crisis began. The spike...
Daily Energy Report
Venezuela’s oil sector is on a moderate rebound, with production and exports climbing toward pre‑blockade levels as early as mid‑2026, according to the U.S. Energy Information Administration. The U.S. Treasury has granted a license for oil and gas exploration, effectively...
Daily Energy Report
Global crude floating storage has climbed to its highest level since the summer of 2020, according to Kpler’s weekly data for 2025‑2026. The surge follows the onset of the Iran‑related conflict and the resulting Hormuz Strait bottleneck, which have forced...
Daily Energy Report
China’s oil inventories have surged to a record high as firms tap cheap barrels bought for about $50 per barrel from Iran, Russia and Venezuela, rather than purchasing current imports priced above $100. The rise runs counter to market expectations...
Daily Energy Report
EU LNG imports surged to a record 10.17 million tons in March 2026, a 10% month‑on‑month increase. The United States dominated the supply mix, providing 55.7% of all EU LNG cargoes, while Russia’s share slipped to 17.9% ahead of a planned ban....
Daily Energy Report
Oil prices plunged more than 10% on April 17, 2026 after Iran announced the Strait of Hormuz was fully open for commercial shipping, sending Brent crude down $13 per barrel. The announcement, reinforced by President Trump’s remarks, sparked a rally...
Daily Energy Report
Oil prices jumped about 4% on April 16 as traders grew skeptical that US‑Iran peace talks will quickly resolve the Hormuz crisis, tightening supply and deepening backwardation. Market participants note that inventory hoarding is more aggressive than anticipated, further constraining...
Daily Energy Report
The latest EOA chart reveals a sharp rise in oil inventories across Iraq, Kuwait and Qatar as the Hormuz Strait closure blocks crude exports. On‑shore stockpiles and an unprecedented amount of floating storage tankers now hold record volumes in the...
Daily Energy Report
OPEC left its global oil supply and demand forecasts unchanged despite the Iran war’s disruptive impact. The organization projects crude demand to reach 106.53 million barrels per day (mb/d) in 2026 and 107.87 mb/d in 2027, with a softer second‑quarter offset by...
Daily Energy Report
The United States is set to ship a record 5 million barrels of crude per day from the Gulf Coast in May 2026, up from 4.9 mb/d in April and 3.97 mb/d in March. The surge follows a sharp decline in exports that...
Daily Energy Report
An attack on Saudi Arabia's East‑West pipeline knocked out roughly 700,000 barrels per day of throughput, tightening global oil supplies. Meanwhile, U.S. LNG exports surged to a record 43.3 million tonnes in March, driven by new projects and a redirection of...
Daily Energy Report
California faces the steepest impact of the Hormuz crisis as Iran‑U.S. tensions choke crude shipments from the Middle East and curtail jet fuel and gasoline exports from Asia. The state’s reliance on overseas supplies—particularly South Korean and Indian sources—combined with...
Daily Energy Report
The April 7, 2026 Daily Energy Report updates Western Canada’s crude export mix, showing Asian markets—especially China—still dominate shipments. China accounts for more than half of the total volume, while the United States’ western region sees fluctuating deliveries between 80,000 and 180,000...
A Potential Game-Changer: Three Tankers Navigate Hormuz Along Oman’s Coastline
On April 2, three Omani‑flagged tankers—two crude carriers and one LNG vessel—transited the Strait of Hormuz along Oman’s coastline. The ships completed the passage without incident and are now safely docked in Omani ports, as confirmed by Kpler satellite maps. This...
Daily Energy Report
U.S. petroleum product exports surged to a new record in April 2026, according to the Daily Energy Report. The increase was most pronounced in shipments to Europe, which captured the bulk of the growth. The report’s “others” category, expected to...
Daily Energy Report
India’s petroleum product exports to Southeast Asia hit a record high in March 2026. The surge came even as the nation’s total petroleum product shipments fell that month. Historically stable seasonal patterns were overridden by heightened regional demand, pushing volumes...
Daily Energy Report
The latest Daily Energy Report shows Iran remains the primary crude exporter through the Strait of Hormuz, while Iraq, Kuwait and Qatar have halted shipments entirely. Saudi Arabia has rerouted most of its oil to the Red Sea, and the...
Daily Energy Report
Energy Outlook Analytics (EOA) reports that Russian liquefied natural gas (LNG) shipments are set to hit a record high in April and May, surpassing previous peaks. Kpler data shows March exports already above the typical seasonal baseline, indicating a steady...
Daily Energy Report
Dutch underground gas storage fell to roughly 6.11% of capacity on March 23, 2026, marking the lowest level for this time of year since at least 2010. The drawdown outpaces the broader EU average, which remains near 20%, and is...
Daily Energy Report
China’s crude oil inventories have surged since early 2024, climbing roughly 15% year‑over‑year and reaching levels not seen in a decade. Despite oil prices soaring well above the breakeven cost of the stockpiled barrels, Beijing has drawn little to none...
Daily Energy Report
The Daily Energy Report reframes Hormuz Strait risk by emphasizing crude quality over sheer volume, noting medium‑sour grades now dominate exports while light‑sour streams like Murban remain niche. Asia faces the steepest impact from any Hormuz disruption, prompting tighter crack...
Oil Prices Plunge as Trump Signals Iran War Nearing End
U.S. President Donald Trump’s remarks that the conflict with Iran is “very complete” sent oil markets tumbling. Crude futures dropped about 6.9%, settling at $84.62 a barrel, the steepest decline in weeks. Trump claimed U.S. forces had neutralized Iranian naval...