Iran War Settlement Set to Drop Oil Prices
"... We just made a great settlement of the war with Iran, and we're going to be subject to finalization of documents..." "... Oil will start coming down [...] We will have a signing soon […] It should be done very quickly..." https://t.co/pi0UFrr5Rp
Oil Traffic Through Strait of Hormuz Increases Significantly
U.S. Energy Secretary Chris Wright said oil traffic throughout the Strait of Hormuz has risen “very meaningfully.”
Kuwait Begins Direct Asian Crude Sales, Boosting Dark Shipments
Kuwait is offering to sell its crude to refiners in Asia for the first time since the Iran war started. Another key sign that more Middle Eastern crude is flowing “dark” via the Strait of Hormuz by tanker (on top of...
ADNOC’s New Tender Signals Surge of Dark Shipments
UAE state owned oil company ADNOC has awarded a tender for ~14 million barrels of crude, and it’s planning a 2nd tender. The sales are a further indication that significant volumes of crude are exiting the Strait of Hormuz in...
Iran Launches Ballistic Missiles at Northern Israel, Warns.
Iran fired ballistic missiles at northern Israel on Sunday after Israel carried out a strike in Beirut earlier on the day. Tehran described the attack as a warning.
OPEC+ Raises Output Even as Hormuz Closure Remains Symbolic
With the Strait of Hormuz closed, it’s a largely symbolic decision. Still, the core OPEC+ group has agreed to another monthly oil output increase. https://t.co/3BgECMCkGK
Trump Claims US Helped Release Large Oil Flow From Hormuz
US President Donald Trump says a “a lot” of oil came out the Strait of Hormuz with American help.
Maintenance Delays Keep Output High, CPC Blend Hits 4‑Year Low
Oil producing countries ex-Hormuz are starting to delay maintenance to keep pumping at max throughout the summer. Kazakhstan is postponing maintenance at its top oilfield until 2027. As a result, CPC Blend crude is trading in the physical market at...
Russia's Crude Exports Surge Amid Ukrainian Refinery Attacks
Russia is exporting the most crude since its invasion of Ukraine back in 2022 as Kyiv's record attacks on its neighbor's oil refineries force more barrels into the global market (Moscow is having a problem with refined product supply but...
China Gasoline Sales Plunge 20% as EVs Rise
CHART OF THE DAY: Goldman Sachs estimates that gasoline retail sales in China dropped a hefty 20% y-on-y in April (GS explains the drop by a shift toward mass transport and EV among other factors) https://t.co/Ybnzx4Ydya
LNG Faces Long‑term Surplus as Demand Shifts
COLUMN: The future of LNG. Supply: away from LNG via the Strait of Hormuz. Demand: away from LNG itself, into solar and coal. "... It may sound counterintuitive [....] but the contours of a long-term surplus are already starting to emerge..." @Opinion https://t.co/XSHFBknUGD
Iran Prepares 50M Barrels for Export Amid Blockade Lift
PHOTO OF THE DAY: As it happens, Iran was loading a super oil tanker (in Jask rather than Kharg) earlier today. It looks like Tehran is getting ready for the US to lift the blockade; it has >50 million of...
Europe's Jet Fuel Crisis Averted as Prices Plunge
CHART OF THE DAY: On Apr 16, the IEA made a headline-grabbing warning: Europe had "maybe 6 weeks or so of jet fuel left." It's week seven; the planes are still flying. Since those headlines, European wholesale jet fuel prices...
US Refineries Hit Unprecedented Six‑Week Jet Fuel Surge
CHART OF THE DAY: US oil refineries produced ~2.07m b/d of jet fuel last week, the 2nd highest ever. For six consecutive weeks, US refiners have produced >2m b/d of jet, something never seen before, even during peak summer. 📈⤵️shows last...
Hormuz Shutdown Spikes Oil, Gas, Coal Prices Dramatically
The Strait of Hormuz has been closed for 90 days. Energy prices (vs 2025 average): ⛽️Brent crude: ~$96 a barrel (+40.5%) 🔥TTF nat gas: ~€47 per mBtu (+31.7%) 🔌German electricity: €93 per MWh (+6.5%) 🏭Newcastle coal: $131.8 per tonne (+23.8%)