Boxer Won't Reach Gulf Until Mid‑April, Oil Delay
Assuming the USS Boxer is heading to the Middle East, and considering that she only left San Diego two days ago, she won't be near the Persian Gulf until mid-April. If the reinforcements are intended to reopen the Strait of Hormuz, then the oil market faces a very long wait.
IEA's Demand Plan Ignores LNG, Sidesteps Coal
Better late than never: IEA has released today a report with demand side measures to address the oil shortage. Including work-from-home, lower speed in highways, etc... Link here: https://t.co/MXt0hEQ9Sx Unfortunatelly, the IEA does not addresses LNG (so it sidesteps coal).
Sea‑based Oil Reserves Dwindling, Iran Holds One‑third
This is a very important story: “…The amount of oil stored at sea — a vital buffer for markets — is running down fast…” About 1/3 of what’s left is Iranian. https://t.co/zS7v0338Ay
Netanyahu Pledges No More Iranian Oil Strikes, Hopes Quicker Peace
Israel Prime Minister Benjamin Netanyahu has joined Trump in jawboning the energy market. In a press conference, he said that Israel won't attack anymore oil and gas targets in Iran, and also indicated that the war would be over faster...
QatarEnergy Details Overnight Damage to GTL Plant
Qatar state-owned LNG giant QatarEnergy has published a statement detailing the overnight damage, providing more granularity (particularly around the damage of the GTL plant). https://t.co/MMZHWkvGoQ
New US Sanctions Tweak Narrower than March Oil Relief
I deleted a previous tweet about the easing of US Russian oil sanctions, as the relaxation already covered petroleum products since March 12. The changes announced today are narrower.
Trump’s Oil Price Stunt Ignores Rising Fuel Costs
COLUMN: Trump has seemingly turned WTI oil into a referendum on his war against Iran: more than $100 👎; less than $100 👍 But WTI isn't what matters for America's Main Street: refined petroleum products do -- and prices are rising...
US, Allies Push De‑Escalation as Iran Escalates; Hormuz Closed
The US and its allies are making a concerted effort to de-escalate the oil/gas war, having witnessed that Iran was willing -- and able -- to climb the escalation ladder very quickly. To be seen whether Tehran plays ball. Whatever the...
Energy Market Overestimates Absorption Amid Modest Brent Rise
Fascinating to see where Brent and TTF are trading right now after the last 24 hours of attacks and counter attacks. Brent is up a mere 3%, and TTF is lower than at the peak on Tuesday March 3rd. The...
Iran Signals Temporary Halt to Energy Facility Attacks
Put the war-of-wards, and it reads as if the Iranians are on board on a tacit understanding that, for now, there won't be more attacks on energy infraestructure. We shall see if this hold. I would imagine it would do...
VP Meets Oil Lobby, Could Curb White House War Push
US Vice President Vance plus other senior officials are meeting with the American oil industry today (at the API hq, rather than at the White House). It would be ironic if the US oil lobby was the one which put...
Iranian Attack Knocks 17% of QatarEnergy LNG Offline
QatarEnergy CEO says the Iranian attack overnight damaged ~17% of its LNG production capacity, and it would take 3-5 years to repair the damage. https://t.co/LWYkomhG8G
Treasury Secretary Hints at Unsanctioning Iranian Oil, Second SPR Release
What US Treasury Secretary Scott Bessent told @FoxBusiness about unsanctioning Iranian barrels -- and a potential 2nd SPR release. (I look forward to see how KSA, UAE, Iraq, Qatar, and Kuwait feel about unsanctioning Iranian oil barrels) https://t.co/buyI81abII
Asia's LNG Shortage Revives Coal as Primary Fuel
MUST READ: Coal remains king — even in 2026. "... Across Asia, a sharp drop in liquefied natural gas supplies is pushing major importers back toward coal, undermining LNG’s long-held role as a stable energy anchor..." https://t.co/MZqvZYa8RD
Saudi Crude Loadings Persist Despite Red Sea Attack Rumors
Lots of chatter in the oil market about whether a Saudi refinery in the Red Sea was attacked or not. One thing, however, appears clear: crude loadings at Yanbu and Al Muajjiz continue as normal, with 4 tankers getting their...
Targeting Upstream Energy Assets Signals Unchecked Escalation
Both sides are now targeting upstream (ie, production) oil and natural gas assets. Is this an attempt to escalate to de-escalate? Or is it simply a sign that escalation is spiralling out of control?
U.S. Shouldn't Manipulate Oil Prices via Market Intervention
COLUMN: The US shouldn't try to influence energy prices by intervening in the financial market for oil. "... The oil futures and options market isn’t a casino where the US government can self-appoint itself as the house that always wins..." @Opinion...
Iran Claims US‑Israeli Strikes Target South Pars Gas Field
Iran said US and Israeli airstrikes hit its giant South Pars natural gas field and associated infrastructure, according to state television. Petrochemical facilities in nearby Asaluyeh also came under attack, it added.
Gulf States Seek to Neutralize Iran After strikesGulf States Seek to Neutral
Battered by Iranian strikes and the disruption of the Strait of Hormuz, the U.A.E. and some fellow Gulf states now want the regime to be neutered, if not dismantled, once the conflict ends https://t.co/u1v454vp6D
Iran Confirms Death of Senior Wartime Leader Ali Larijani
Iranian state media has now confirmed the death of Ali Larijani, the secretary of the country’s Supreme National Security Council and a key pillar of the Islamic Republic wartime leadership.
U.S. Pressures Kurdistan to Resume Limited Oil Flow
Iraqi Kurdistan authorities have come under strong U.S. pressure to get this done. Not a lot of oil (~300,000 b/d) but it’s better than nothing.
Iran Keeps Shipping Oil, China Still Receives It
PHOTO(S) OF THE DAY: China is still getting (some of) its oil — and Iran its getting (some of) its money. Three weeks into the war, Iran continues loading oil supertankers from Kharg Island. (No damage visible at this resolution) Photo @CopernicusEU...
US Diesel Prices Surge Past $5, Fueling Freight Inflation
CHART OF THE DAY: US retail average diesel prices have topped the $5-per-gallon barrier for the 2nd time ever. That’s freight inflation — and another big hit to the country’s farming economy (and it has received many hit since...
Iran's First Direct Strike on Oil/Gas Field
I believe this is the first sucessull Iranian attack against an **oil / gas field** since the war started (previous strikes against oil facilities involved refineries, terminals, and storage tanks). (Althought the tweet calls it an oil field, it likely...
Cuba Endures Nationwide Blackout, Protests Amid US Oil Embargo
While all the attention is (naturally) on Iran, don't lose sight of Cuba. The Caribean island has just suffered a country-wide blackout as it struggles under a de facto US oil embargo. Nightime protest have erupted in several Cuban cities in...
Treasury Secretary Confirms No US Intervention in Oil Derivatives
US Treasury Secretary Scott Bessent says the US government has NOT intervened in the oil derivatives market
India Buys Pricey Russian Oil Legally, Boosting Putin
Somewhere in the Kremlin, Vladimir Putin is rubbing his hands. India is paying ~$99 a barrel for Russian crude Urals (including shipping costs). And since the US eased its sanctions on Russian crude, it's all legal.
Asia's Gas‑to‑Coal Flexibility Offsets Europe’s 2022 Shortfall
South Korea is lifting a cap on coal-fired power generation (until now set at 80% of capacity) to offset the loss of LNG The flexibility of Asia to performan gas-to-coal switching (and its enormous coal-fired fleet) provides a layer of insulation...
Iran Attacks Fujairah, Spares Saudi Pipeline Bypass
Iran has started a new phase of its oil war: Tehran is clearly going after the Strait of Hormuz bypass route, with Fujairah (UAE) coming under attack. But so far, the Saudi pipeline bypass hasn't been attacked (and neither the Yemeni...
Nuclear Bomb Canal Proposal Ignoring Radiation Risks
What a genius idea: let’s detonate 12 nuclear bombs over the UAE and Oman to create a canal bypassing Hormuz. Who wants to introduce him to the Al Hajar mountains? ( (…we are leaving aside the small issue of radiation and...
Oil Demand Loss Hurts Big Economies More than Small
At risk of sounding unkind, for the global economic impact, it matters where oil demand destruction happens. The GDP hit — and spillover — isn’t the same if it occurs in a small economy like, say, Bangladesh, than if it happens...
Red Sea Swarms with Tankers as Hormuz Remains Closed
MAP OF THE DAY: While the Strait of Hormuz remains largely closed (other than a few tankers, notably from India), the Red Sea is witnessing the arrival of an oil tanker armada to the Saudi terminals there. (Tracking via @TheTerminal) (Blue...
IEA Sets Immediate Oil Release for Asia, Delays Europe, America
IEA has provided an update on the emergency oil stock release, with details on timing, regional split, and crude/product split. Asia stocks will be released immediately. Europe / America only at the of March. Still missing is the flow rate, however....
Fuel Oil Prices Spike, Threatening Container Shipping Costs
COLUMN: While the price of Brent and WTI crudes remain well below their record high, the cost of fuel oil has surged above the 2022 and 2008 peaks. The surge is a big problem for the workhorse of globalisation: the container...
White House Plans for Iran; Asks China for Warships
So let’s see if I got this right: The White House had anticipated (and prepared) for Iran to close the Strait of Hormuz. And part of that response is for the President to ask via social media geopolitical foes like...
Drone Strike Halts Fujairah Oil Loading After Kharg
The response after Kharg Island? Some oil loading operations in the UAE port of Fujairah, just outside the Strait of Hormuz, have been suspended after a drone attack and fire on Saturday morning. https://t.co/rhA5ofo80y https://t.co/SkhA67PyzU
Aramco Loads Five Crude Tankers Simultaneously—Historic First
Saudi Aramco is loading simultaneously 5 crude oil tankers in Yanbu and Al Mujjaiz terminals on the Red Sea coast. I don’t think that’s happened ever before.
LPG Tankers Cross Hormuz After Tehran‑Delhi Talks
One-off or sign of easing? Two tankers transporting LPG (think the butane canisters) have crossed the Strait of Hormuz in the last few hours on the way to India. The crossing happened after gov-to-gov talks between Tehran and New Delhi....
Kharg Island Hit 15 Times, Targeting Defense and Naval Facilities
Iranian media reports that Kharg Island was struck 15 times by explosions. The targets were the island’s air defense systems, a naval base, the airport control tower, and a helicopter hangar.
US Shifts SPR Strategy From Sale to Loan Exchange
The US gov seems to have changed its mind about the terms of the use of the Strategic Petroleum Reserve: Earlier this week, it announced a **SPR release** (an outright sale, and the method used in the emergency actions of...
White House Admits Plan: Bomb Kharg Island Amid Hormuz Closure
OK, I suppose we should admit the White House was right, and, all along, they did have a plan to deal with the closure of the Strait of Hormuz. Bomb Kharg Island.
API and CME Resist White House Oil‑Price Cuts
The American Petroleum Institute and CME (owner of the top US commodity exchange) are both pushing against some of the ideas the White House is floating to bring oil prices down. Reflexively, one would think that Joe Biden is...
U.S. Defense Secretary Says No Clear Evidence of Iranian Mines
US Defence Secretary Hegseth says there is "not clear evidence" that Iran is laying mines in the Strait of Hormuz
War Adds $3‑6 per Barrel Daily, White House Stumped
COLUMN: The White House is running out of ways to curb rising oil prices. "... My working assumption is that the oil market will add $3 to $6 a barrel to the headline price for every day — every single...
Iran Keeps Flooding Strait of Hormuz with Oil
VIDEO EXPLAINER: The most important map of the Third Gulf War — the oilfields, the Strait of Hormuz, and the bypass pipelines. Plus a look at how, two weeks into the war, Iran is still exporting lots of its oil,...
Brent Breaches $100, First Time in 3½ Years
Brent closes the day above $100 a barrel for the first time in three and a half years. Note: during the 2022 crisis, Brent settled above triple-digit level for 110 days. So far in 2026, just one day.
Saudi Pays Record Tanker Rates to Ship Red Sea Crude
Saudi Arabia is booking more and more super oil tankers at sky high rates (>$450,000 a day vs pre-war levels of $100,000 a day) to shift crude from the Red Sea into global markets.
Gulf of Aden Swarms with VLCCs, No Houthi Attacks Yet
There are so many VLCCs oil tankers in the Gulf of Aden right now that one could walk from Djibouti to Socrota island wihtout getting their feet wet. (... and no, contrary to some social media posts, the Houthis have...
Iran Ramps up Energy Attacks as Oil Stays Sub‑$100
Overnight Iran reacted to the IEA's oil release intensifying its attacks on regional energy targets, including two small-sized fuel tankers in Iraq. Tehran knows oil is what could force President Trump to end the war early. Still, both Brent and...
U.S. to Release 172 M Barrels Over 120 Days
U.S. details its participation in the IEA coordinated SPR release. Washington will release 172 million barrels over a 120 day period, equal to a flow of ~1.4 million barrels per day.