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2026-07-19 17:00:00 CEST

Energy Storage Key To Avoiding The Next Energy Crisis
Europe is working hard to increase the share of renewables in the continental energy mix. European Union nations have been working to add wind and solar capacity as quickly as possible against the backdrop of oil price shocks and supply chain volatility, and have made considerable progress in indigenous renewable installations. However, all of that additional capacity has outpaced the addition of supportive infrastructure like energy storage systems, leading to wasted surplus energy at peak production hours and increasing incidence of negative…
https://oilprice.com/Energy/Energy-General/Energy-Storage-Key-To-Avoiding-The-Next-Energy-Crisis.html

2026-07-19 17:00:00 CEST

Hormuz Closure Exposes Africa's Energy Dependence on Iran and China
The ongoing restrictions on fuel trade, following the closure of the Strait of Hormuz, have led to widespread energy shortages in several parts of the world, demonstrating the vulnerabilities in many countries' energy security. As states look to develop alternative, regional supply chains or turn to alternative energy sources, such as renewables, it has become clear that the ongoing geopolitical challenges will reshape global energy trade. The U.S.-Israeli-led war on Iran led to the closure of the Strait of Hormuz – a key trade corridor connecting…
https://oilprice.com/Energy/Energy-General/Hormuz-Closure-Exposes-Africas-Energy-Dependence-on-Iran-and-China.html

2026-07-16 19:30:00 CEST

EU Sets Target To Double Electrification Rate, Cut Oil & Gas Use
The European Union has unveiled the Electrification Action Plan, aiming for electricity to account for 46% of total energy consumption within the bloc by 2040, effectively doubling the current rate. Spearheaded by the European Commission, the aggressive policy shift is a direct economic and security response to the energy fallout amid the Middle East conflict. Currently, ~23% of the EU's final energy consumption is powered by electricity, a level that has plateaued for a decade. In effect, Europe now considers electrification no longer purely a…
https://oilprice.com/Latest-Energy-News/World-News/EU-Sets-Target-To-Double-Electrification-Rate-Cut-Oil-Gas-Use.html

2026-07-16 15:30:00 CEST

China’s Critical Minerals Grip Puts $6.5 Trillion of Global Industry at Risk
The global critical minerals market remains highly concentrated, and new threats to supply security have emerged in recent months as China has curbed exports of some rare earth elements, the International Energy Agency said on Thursday. The Chinese government introduced major export controls on heavy rare earth elements last year. Although further expanded controls have been suspended until November 2026, their full implementation – if China decides to go through with it –could put an estimated $6.5 trillion per year of downstream…
https://oilprice.com/Latest-Energy-News/World-News/Chinas-Critical-Minerals-Grip-Puts-65-Trillion-of-Global-Industry-at-Risk.html

2026-07-07 21:00:00 CEST

Oil Market Swings From Glut Fears to Hormuz Toll Concerns
Despite a lull in peace talks progress between Iran and the United States, analysts have once again started to talk about oversupply as tankers leave the Persian Gulf in greater numbers than the past three months. Importing nations are even being warned of a “wave” of crude coming their way. Meanwhile, some are preparing for a future where Hormuz passage tolls are part of oil price formation. The latest to warn about a glut of crude oil was the Wall Street Journal, following reports from other major media outlets citing analysts as…
https://oilprice.com/Energy/Crude-Oil/Oil-Market-Swings-From-Glut-Fears-to-Hormuz-Toll-Concerns.html

2026-07-06 15:30:00 CEST

Hormuz Tanker Traffic Slowly Recovers Despite Persistent Risks
Tanker traffic through the Strait of Hormuz has picked up pace in recent weeks, but oil flows are anything but smooth. At least six tankers carrying oil or LNG moved to exit the Persian Gulf through Hormuz on a route close to Oman’s coast on Sunday, according to vessel-tracking data compiled by Bloomberg. This comes hours after at least eight oil tankers and LNG carriers made mysterious and unexplained U-turns on Friday and Saturday while near the Omani coast, outbound from the Gulf. Of these tankers that made U-turns, four moved north and…
https://oilprice.com/Latest-Energy-News/World-News/Hormuz-Tanker-Traffic-Slowly-Recovers-Despite-Persistent-Risks.html

2026-04-04 21:00:00 CEST

U.S. Battery Expansion Surges Ahead of Demand Curve
The United States is rapidly becoming a major international battery manufacturing power, as it works to compete with other producers, such as China. The battery manufacturing industry is forecast to grow so much in the coming years that supply may soon outstrip demand. Demand for batteries in the United States has grown significantly in recent years, with demand for energy storage expected to increase by 21 percent this year. This has been driven primarily by the increase in the deployment of renewable energy capacity across the U.S., which requires…
https://oilprice.com/Energy/Energy-General/US-Battery-Expansion-Surges-Ahead-of-Demand-Curve.html

2026-04-04 19:00:00 CEST

The Two-Week Window That Could Break Global Commodity Markets
The familiar assumption used by markets remains in place, at least according to financial analysts: what has been priced is what matters. Oil is still elevated but not yet showing a disorderly pattern. LNG is tightening but still trading within a recognizable or conventional range. Freight rates are rising, insurers are repricing risk, and policymakers continue to signal control. On the surface, all these signs are showing a stressed but functioning system. The coming weeks will reveal which systemic risks-such as chain desynchronization or supply…
https://oilprice.com/Energy/Crude-Oil/The-Two-Week-Window-That-Could-Break-Global-Commodity-Markets.html

2026-04-04 00:00:00 CEST

How the Iran War Became NATO’s Biggest Crisis
President Donald Trump told Reuters on Wednesday that he is considering withdrawing the United States from the 76-year-old alliance after European allies declined to send warships to reopen the Strait of Hormuz to global shipping. "Wouldn't you if you were me?" he asked. Earlier this week, in an interview with Britain's The Telegraph, he called NATO a "paper tiger" and said Russian President Vladimir Putin shared the assessment. The spat has a straightforward trigger. The Strait of Hormuz, the narrow chokepoint between Iran and Oman through which…
https://oilprice.com/Geopolitics/International/How-the-Iran-War-Became-NATOs-Biggest-Crisis.html

2026-04-03 22:00:00 CEST

How the U.S. and Europe Are Betting Differently on Energy Security
Europe is making a push for a robust homegrown offshore wind sector at the same time that the United States is gutting its own. The world's largest wind farm, currently under construction in the North Sea, made major progress on March 26 when it successfully connected its first export cable from the seabed to the coast of the United Kingdom. Meanwhile, France plans to auction off 10 offshore and floating wind projects with a combined capacity of 12 gigawatts by 2027 as part of a ‘Made in Europe’ initiative. In the UK, the connection…
https://oilprice.com/Alternative-Energy/Wind-Power/How-the-US-and-Europe-Are-Betting-Differently-on-Energy-Security.html

2026-04-03 20:30:00 CEST

Trump Says US Could ‘Take the Oil’ in Hormuz Push
President Donald Trump said Friday the United States could reopen the Strait of Hormuz and “take the oil and make a fortune,” framing control of the world’s most critical energy chokepoint as both a strategic and economic opportunity. The Strait carries roughly 20% of global oil supply. Traffic through the waterway has been severely disrupted as Iranian threats, vessel attacks, and collapsing insurance coverage have curtailed tanker movements. Tanker flows have stalled, and crude and product markets have repriced sharply higher…
https://oilprice.com/Latest-Energy-News/World-News/Trump-Says-US-Could-Take-the-Oil-in-Hormuz-Push.html

2026-04-03 20:00:00 CEST

BP’s New CEO Faces a Defining Test as War Boosts Profits
In one sense it’s a baptism of fire – in another, hardly at all. Meg O’Neill’s arrival as the first female chief executive of BP comes, in a sense, at an auspicious moment. Oil majors’ earnings are set for a significant windfall from the conflict in Iran, with those of BP and Shell forecast to see a combined £5bn this year – and that’s if the war is limited in timeframe. That cannot mask, though, the scale of the task facing O’Neill, who arrives from Australia’s Woodside Petroleum…
https://oilprice.com/Energy/Energy-General/BPs-New-CEO-Faces-a-Defining-Test-as-War-Boosts-Profits.html

2026-04-03 18:30:00 CEST

First Western European Vessel Transits Hormuz Since War Began
A container ship owned by French shipping giant CMA CGM, has just transited the Strait of Hormuz in what appears to be the first vessel linked to Western Europe to have successfully braved the critical chokepoint since the war in the Middle East began. The Malta-flagged CMA CGM Kribi, which openly broadcasts its French ownership, transited the Strait of Hormuz between Thursday afternoon and Friday morning, according to vessel-tracking data monitored by Bloomberg. Data on MarineTraffic showed that CMA CGM Kribi was in the Oman Gulf as of 12 p.m.…
https://oilprice.com/Latest-Energy-News/World-News/First-Western-European-Vessel-Transits-Hormuz-Since-War-Began.html

2026-04-03 18:00:00 CEST

Why Losing the Iran War May Be the Best Outcome for the Global Economy
As I will explain, the outcome that looks like losing may actually be the best path forward for the world’s remaining economies. The fighting today is with respect to which parts of the world will get which energy resources, and at what prices. Even before the current conflict, there was a shortage of jet fuel and diesel. The only reasonable outcome I can think of is that the US will only be able to tap its own energy resources, plus those of its nearby neighbors (Figure 1). Consequently, the economy will gradually reorganize in ways that…
https://oilprice.com/Energy/Energy-General/Why-Losing-the-Iran-War-May-Be-the-Best-Outcome-for-the-Global-Economy.html

2026-04-03 17:30:00 CEST

India's Russian Crude Imports Jump 90% in March After U.S. Waiver
India's imports of Russian crude oil jumped by 90% in March versus February, following the major supply disruption in the Middle East and the U.S. waiver of purchases of Russian crude already loaded on tankers. Following subdued purchases between November and February, India's imports of Russian crude soared last month by 90%, although overall Indian crude imports slumped by 15% due to the de facto closed Strait of Hormuz, The Times of India reported on Friday, citing data from Kpler. While crude supply to India from Iraq, Saudi Arabia, and the…
https://oilprice.com/Latest-Energy-News/World-News/Indias-Russian-Crude-Imports-Jump-90-in-March-After-US-Waiver.html

2026-04-03 16:30:00 CEST

UAE's Biggest Gas Plant Forced Offline for Second Time Since War Began
Operations at the Habshan gas facilities, the biggest gas processing site in the United Arab Emirates, were suspended early on Friday following a fire that erupted after an attack, Abu Dhabi Media Office said. The Habshan onshore facilities are part of one of the world's largest gas processing plants, which is operated by Abu Dhabi's national oil company ADNOC. The five plants of the vast Habshan Complex have 14 processing trains and 6.1 bscfd capacity, according to the company. This is the second time operations at Habshan have been suspended…
https://oilprice.com/Latest-Energy-News/World-News/UAEs-Biggest-Gas-Plant-Forced-Offline-for-Second-Time-Since-War-Began.html

2026-04-03 16:00:00 CEST

Trump Threatens to Expand Iran Strikes as War Escalates
President Donald Trump said the US military "hasn't even started" to destroy what is left of Iran after a month of devastating air attacks and he threatened to strike electrical power plants and more bridges in his latest warning to the regime in Tehran. "Our Military, the greatest and most powerful (by far!) anywhere in the World, hasn’t even started destroying what’s left in Iran. Bridges next, then Electric Power Plants! New Regime leadership knows what has to be done, and has to be done, FAST!," Trump wrote on Truth Social late…
https://oilprice.com/Energy/Energy-General/Trump-Threatens-to-Expand-Iran-Strikes-as-War-Escalates.html

2026-04-03 15:00:00 CEST

India Passes on Iranian Oil as Sanctioned Tanker Redirects to China
A sanctioned tanker carrying Iranian crude has abruptly changed destination from a port on India's west coast to an import terminal in China, in a move suggesting that India would not be imminently importing its first crude from Iran in seven years. The crude tanker Ping Shun, which the United States sanctioned last year for dealing with Iranian crude, signaled earlier this week that it was headed to the port of Vadinar on the west coast of India. However, the latest positioning of the Ping Shun, at least according to its AIS tracker, signals it…
https://oilprice.com/Latest-Energy-News/World-News/India-Passes-on-Iranian-Oil-as-Sanctioned-Tanker-Redirects-to-China.html

2026-04-03 14:30:00 CEST

Three Oil Shocks Redrawing the Geopolitical Energy Map
Politics, Geopolitics & Conflict The Sharara pipeline was hit in Libya’s southwest, and that location explains the attack. This is not territory firmly controlled by either Khalifa Haftar or Abdul Hamid Dbeibah. Haftar’s forces are anchored in the east, Dbeibah’s authority is in and around Tripoli, and the northwest. The corridor linking Sharara to Zawiya runs through the Murzuq basin, where control is fragmented. Local militias and tribal groups handle security around the National Oil Corporation infrastructure but operate…
https://oilprice.com/Energy/Energy-General/The-Oil-Shocks-Redrawing-the-Geopolitical-Energy-Map.html

2026-04-03 14:30:00 CEST

Trump’s Contradictions on Iran Rattle Both Markets and Allies
Trump entered office promising to avoid new wars. The U.S. is now engaged in an expanding conflict with Iran that has spiralled out of control, and the administration has not clearly defined what constitutes success or how the war ends. Further eroding confidence, late on Thursday, in the middle of a war, the U.S. Defense Secretary has forced the resignation of Army Chief of Staff Gen. Randy George and two other senior officers, Gen. David Hodne and Maj. Gen. William Green Jr., in what is now one of the most significant wartime leadership changes…
https://oilprice.com/Energy/Energy-General/Trumps-Contradictions-on-Iran-Rattle-Both-Markets-and-Allies.html

2026-04-03 11:41:45 CEST

JP Morgan Sees $150 Oil if Hormuz Remains Closed Through Mid-May
Oil prices could top $150 per barrel if energy flows through the Strait of Hormuz remain disrupted through the middle of May, according to JP Morgan. Prices are headed to $120-$130 per barrel in the very near term, the investment bank said in a note carried by Reuters. At Thursday’s close, oil prices surged, with the U.S. benchmark WTI Crude soaring past Brent Crude and settling at $111.50 per barrel. The international benchmark closed at $109 a barrel on Thursday, the last trading day of this week, as markets are closed on Good Friday. JP…
https://oilprice.com/Latest-Energy-News/World-News/JP-Morgan-Sees-150-Oil-if-Hormuz-Remains-Closed-Through-Mid-May.html

2026-04-03 10:00:00 CEST

Europe Braces for Prolonged Energy Crisis as Supplies Tighten
Europeans must prepare for an extended period of tight oil and gas supplies, the EU’s energy commissioner Dan Jørgensen told the Financial Times. “This will be a long crisis . . . energy prices will be higher for a very long time,” Jørgensen told the FT, adding that with some “critical” products the situation was about to become “even worse in the weeks to come”. The commissioner said that the crisis hadn’t struck yet but also admitted that “The rhetoric that…
https://oilprice.com/Latest-Energy-News/World-News/Europe-Braces-for-Prolonged-Energy-Crisis-as-Supplies-Tighten.html

2026-04-03 08:45:00 CEST

Japan’s JERA Cancels Long-Term LNG Deal With Commonwealth
Japan’s JERA and Commonwealth LNG have terminated a deal for the supply of liquefied gas to the Japanese firm, Reuters has reported, citing a filing with the U.S. Department of Energy. Neither company gave reasons for the termination. The deal was inked last June, for a period of 20 years, for volumes of 1 million tons annually. Commonwealth LNG planned first production in 2029 at the time, but later in the year pushed the start of production forward to 2031. The company blamed the temporary ban on new liquefied natural gas capacity that…
https://oilprice.com/Latest-Energy-News/World-News/Japans-JERA-Cancels-Long-Term-LNG-Deal-With-Commonwealth.html

2026-04-02 23:00:00 CEST

One-Fifth of Global Oil Trade Is Blocked, But Solar Is Softening the Blow
The effective blockage of the Strait of Hormuz has thrown the world’s continued dependence on fossil fuels into sharp relief. The interruption to the waterway, which accommodates one-fifth of the world’s oil and gas, has thrown global energy markets into turmoil. The blockage represents the single-largest interruption to global oil trade in history. But it’s not causing nearly as much pain as past oil crises thanks to a much more diverse global energy mix. “There is little sign that the war with Iran will cause the kind…
https://oilprice.com/Alternative-Energy/Solar-Energy/One-Fifth-of-Global-Oil-Trade-Is-Blocked-But-Solar-Is-Softening-the-Blow.html

2026-04-02 21:00:00 CEST

US Rig Count Rises For First Time in Three Weeks
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Thursday, bringing the total rig count in the US to 548, down 42 from this same time last year. The number of active oil rigs rose by 2 to 411 during the latest reporting period, according to the data. This is 70 below this same time last year. The number of gas rigs rose by 3, reaching 130, which is 26 more than this time last year. The miscellaneous rig count stayed the same at 7. The latest EIA data…
https://oilprice.com/Energy/Energy-General/US-Rig-Count-Rises-For-First-Time-in-Three-Weeks.html

2026-04-02 20:00:00 CEST

U.K. Airlines Brace for Jet Fuel Crunch as Iran War Disrupts Global Supply
Britain’s airlines face significant disruption in a matter of weeks if the war in Iran continues throughout April, as a global jet fuel shortage has already forced carriers in Asia to slash service levels in a bid to manage supplies. Major UK-based carriers have said that they have between five and six weeks’ worth of supplies before their reserves will begin to run short as a result of the protracted closure of the vital Strait of Hormuz shipping lane. Several Asian airlines have already been forced to cancel some routes until as far…
https://oilprice.com/Energy/Energy-General/UK-Airlines-Brace-for-Jet-Fuel-Crunch-as-Iran-War-Disrupts-Global-Supply.html

2026-04-02 16:00:00 CEST

The Critical Commodities Caught in the Hormuz Blockade
When an Indian tanker carrying liquefied petroleum gas (LPG) passed through the Strait of Hormuz recently, its progress was followed by excited live TV news coverage. “Its position was received eight minutes ago. It’s currently at 12.5 knots and is moving at 154 degrees. It’s reported ETA in India is at 9.30 p.m. tomorrow,” reported one journalist, providing running commentary while following a tracker app. Later, videos showed the ship with a military escort from the Indian Navy in the Gulf of Oman. The attention was not…
https://oilprice.com/Energy/Energy-General/The-Critical-Commodities-Caught-in-the-Hormuz-Blockade.html

2026-04-02 14:30:00 CEST

Australia Considers Emergency Powers to Protect Domestic Gas Supply
Australia’s government intends to consider using emergency powers to protect domestic natural gas supply in case of a shortfall on its east coast in the third quarter of 2026. The potential consideration of using such powers would be part of the steps the Albanese Government is taking to secure domestic gas supplies for Australian households and industry as the Middle East conflict disrupts global energy markets. Australian Minister for Resources, Madeleine King, has given notice of her intention to consider using powers under the Australian…
https://oilprice.com/Latest-Energy-News/World-News/Australia-Considers-Emergency-Powers-to-Protect-Domestic-Gas-Supply.html

2026-04-02 12:30:00 CEST

India Accelerates Shift to Piped Gas as LPG Crisis Deepens
India is accelerating the move to piped gas for household use as liquefied petroleum gas (LPG) supplies are severely disrupted due to the war in the Middle East. Around 60% of Indian households rely on LPG for their primary cooking fuel, and the blockage at the Strait of Hormuz, from where 90% of all Indian LPG imports pass, has been immediately felt by consumers. Amid the supply crisis, which has had the Indian government cut LPG supplies to commercial establishments and industries to have more cooking gas available for household use, authorities…
https://oilprice.com/Latest-Energy-News/World-News/India-Accelerates-Shift-to-Piped-Gas-as-LPG-Crisis-Deepens.html

2026-04-02 12:00:00 CEST

5 Defense Stocks Rebuilding the Military Supply Chain From the Ground Up
For decades, the U.S. military procurement system operated on a quiet assumption: the global supply chain would always be there. Parts would arrive. Materials would be available. Someone, somewhere, would have what was needed. That assumption is now gone. China's export restrictions on rare earth materials, imposed in late 2025, removed any remaining doubt about where the vulnerability was. Beijing didn't threaten to cut off raw ore, it blocked the processed metals and alloys that actually go into guidance systems, drone motors, and fighter jets.…
https://oilprice.com/Energy/Energy-General/5-Defense-Stocks-Rebuilding-the-Military-Supply-Chain-From-the-Ground-Up.html

2026-04-02 09:33:00 CEST

WTI Jumps 51% in a Month on Iran War Supply Shock
West Texas Intermediate added some 51% over last month, currently trading at over $100 per barrel as President Trump indicated the war against Iran was not coming to a swift end. The Wall Street Journal reported that the price rise represented a difference of $34.36, which was the highest monthly price climb since WTI futures started trading on the commodity exchange, back in 1983. As a result of the benchmark price rise, gasoline has topped $4 per gallon and diesel fuel sits at $5.50 per gallon, according to the latest data from AAA. The last…
https://oilprice.com/Latest-Energy-News/World-News/WTI-Jumps-51-in-a-Month-on-Iran-War-Supply-Shock.html

2026-04-02 06:35:03 CEST

Oil Prices Surge 6% as Trump Signals Prolonged Iran Conflict
Oil prices surged in early Asian trade on Thursday after President Trump signaled that Washington would continue its military campaign against Iran, including potential strikes on energy infrastructure. Before the speech, prices had dropped on expectations of de-escalation, leading to a sharp spike when Trump made it clear the war would continue. At the time of writing, WTI was trading at $105.2, up 5.07%, while Brent stood at $107.3, up +6.04% Before the speech, prices had dropped on expectations of de-escalation, leading to a sharp spike when…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Surge-6-as-Trump-Signals-Prolonged-Iran-Conflict.html

2026-04-02 02:00:00 CEST

Oil & Gas Rally Leaves S&P 500 Behind in Record-Breaking Run
Long-suffering energy investors finally have a reason to smile, with the sector on track to outperform the broader market by its widest margin on record, driven by Middle East conflict, rising demand from the AI boom, and a continued rotation away from expensive technology and growth stocks. The energy sector's 14-week winning streak far exceeds previous bull runs, including the nine-week streak it posted back in 2007 thanks to the nearly 50% surge in oil prices triggered by the Middle East conflict. The S&P 500 Energy Sector has returned 36.5%…
https://oilprice.com/Energy/Energy-General/Oil-Gas-Rally-Leaves-SP-500-Behind-in-Record-Breaking-Run.html

2026-04-02 00:00:00 CEST

Record Wind Output Fails to Stop UK Energy Price Surge
The UK cannot wind power itself out of the new energy crisis resulting from the war in the Middle East. With about a third of its electricity generation typically coming from gas-fired power plants, the UK is feeling the energy shock after oil and gas prices soared in the month since the war in Iran began. And the UK is likely to feel the worst of the energy price shock, according to the International Monetary Fund (IMF). That’s despite the record wind power generation in the first quarter of 2026 and the new daily record in wind power output…
https://oilprice.com/Alternative-Energy/Wind-Power/Record-Wind-Output-Fails-to-Stop-UK-Energy-Price-Surge.html

2026-04-01 22:00:00 CEST

Chipmakers Scramble as Helium Crunch Threatens AI Expansion
Supply chain disruptions caused by the U.S. and Israeli war on Iran have sent ripples across industries, but information technology stands out as particularly vulnerable. That’s because of its expansive growth plans, which need certain ingredients to work out, from energy to helium. Cheap energy is one of these ingredients, and cheap energy has swung from a perceived surplus into a definite and acute shortage in most of the world as a result of the energy export disruption in the Middle East. Some argue that the U.S. market is insulated thanks…
https://oilprice.com/Energy/Energy-General/Chipmakers-Scramble-as-Helium-Crunch-Threatens-AI-Expansion.html

2026-04-01 20:30:00 CEST

Traders Ramp Up Bearish Oil Bets To Nearly $1 Billion
Traders have poured a record $977 million into the ProShares UltraShort Bloomberg Crude Oil ETF (SCO), a leveraged bet that oil prices will collapse from their war-driven highs. Despite the high-volume, double-leveraged bet, the ETF still dropped 41% in March, its worst month in nearly six years, highlighting the ETF’s high risk in volatile markets. Oil prices have pulled back from recent highs after U.S. President Donald Trump announced that he is looking to wind up the Iran war soon. The ProShares UltraShort Bloomberg Crude Oil ETF is a…
https://oilprice.com/Latest-Energy-News/World-News/Traders-Ramp-Up-Bearish-Oil-Bets-To-Nearly-1-Billion.html

2026-04-01 18:02:03 CEST

Oil Falls 2% as Trump Says U.S. Will Exit Iran 'Pretty Quickly'
Oil prices on Wednesday morning dipped some 2% as U.S. President Donald Trump signaled that the United States may wind down its military operations in Iran soon, while threatening to quit NATO for its lack of support in the Middle East operation. Iran announced on Tuesday it was ready to reach a resolution or intensify attacks on U.S. assets and its allies, without offering more details how this would be achieved considering the conflicting demands between the two sides. Two Pakistan sources told Reuters that neither side had responded to Islamabad's…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Falls-2-as-Trump-Says-US-Will-Exit-Iran-Pretty-Quickly.html

2026-04-01 18:00:00 CEST

Oil Drops 2% as Trump Says Iran War Might End Soon
Oil prices on Wednesday morning dipped some 2% as U.S. President Donald Trump signaled that the United States may wind down its military operations in Iran soon, while threatening to quit NATO for its lack of support in the Middle East operation. Iran announced on Tuesday it was ready to reach a resolution or intensify attacks on U.S. assets and its allies, without offering more details on how this would be achieved, considering the conflicting demands between the two sides. Two Pakistani sources told Reuters that neither side had responded to…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Drops-2-as-Trump-Says-Iran-War-Might-End-Soon.html

2026-04-01 18:00:00 CEST

Israeli Attack on Iranian Port Exposes Vulnerability in Russia Trade Route
For years, the Caspian Sea was the safe zone of the alliance between Russia and Iran -- a landlocked black hole invisible to Western eyes. While the inland waterway has served as a sanctuary for Iranian drones bound for the battlefields of Ukraine in Moscow's ongoing full-scale invasion, Israel recently launched air strikes on Bandar Anzali, an Iranian naval outpost on the Caspian. Growing media reports based on intelligence say the corridor is now being used to transfer Russian-produced weaponry back to the Middle East, bringing Israeli air strikes…
https://oilprice.com/Geopolitics/Middle-East/Israeli-Attack-on-Iranian-Port-Exposes-Vulnerability-in-Russia-Trade-Route.html

2026-04-01 16:59:26 CEST

Prices Sag as US Oil Inventories Climb
Crude oil inventories in the United States increased by 5.5 million barrels during the week ending March 27, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 461.6 million barrels according to government data, which is 0.1% above the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories saw a build of 10.263 million barrels in the period.…
https://oilprice.com/Energy/Crude-Oil/Prices-Sag-as-US-Oil-Inventories-Climb.html

2026-04-01 16:30:00 CEST

China Resells Record LNG Volumes as Global Gas Crunch Bites
Since the start of the Middle East war, China has been reselling record volumes of LNG to other Asian buyers as its own demand has been tepid and stocks and gas supplies sufficient. In March alone, China resold up to 10 cargoes of LNG—a record-high for any month ever, according to data from energy analytics firms Vortexa, Kpler, and ICIS cited by Reuters. Year to date, China has also resold record volumes of LNG, an estimated 1.31 million tons, shipped to South Korea, Thailand, Japan, India, and the Philippines, per data from Kpler. This…
https://oilprice.com/Latest-Energy-News/World-News/China-Resells-Record-LNG-Volumes-as-Global-Gas-Crunch-Bites.html

2026-04-01 16:00:00 CEST

A Fragile Off-Ramp Emerges in the Iran Conflict
Iran FM Clarifies Not Negotiating with US, But Messages Sent Iran's Foreign Minister Aragchi has clarified some things to AI Jazeera regarding diplomatic engagement with the US on potentially ending the war. The main takeaway is his explanation that what is happening now does not constitute negotiations in Tehran's view, but an exchange of messages directly or through our friends in the region (namely Pakistan). He said that all communication concerning diplomacy and the war is routed through the Foreign Ministry and overseen by the National Security…
https://oilprice.com/Energy/Energy-General/A-Fragile-Off-Ramp-Emerges-in-the-Iran-Conflict.html

2026-04-01 13:54:07 CEST

EU Warns Energy Prices Won't Fall Even If Iran War Ends Tomorrow
Oil and gas prices will not return to pre-war levels soon even if the conflict in the Middle East were to end today, Dan Jørgensen, European Commissioner for Energy and Housing, has warned. In the month since the beginning of the war in Iran, prices in the EU have jumped by about 70% for natural gas and by 60% for oil, Jørgensen said at an informal meeting of EU energy ministers. In financial terms, 30 days of conflict have already added $16.2 billion (14 billion euros) to the EU’s fossil fuels import bill, the commissioner…
https://oilprice.com/Latest-Energy-News/World-News/EU-Warns-Energy-Prices-Wont-Fall-Even-If-Iran-War-Ends-Tomorrow.html

2026-04-01 12:30:00 CEST

Oil-Starved Asia Turns to Russia After U.S. Waiver
Some Asian countries are taking Russian oil for the first time in years after the U.S. waiver allowed purchases of Russian oil on tankers to ease the major oil supply shock to the market. The Philippines, one of the Asian nations worst hit by the Middle East supply squeeze and where a national energy emergency is already in place, imported its first cargo of Russia’s Far Eastern crude grade ESPO for the first time in six years, according to vessel-tracking data compiled by Bloomberg. South Korea is also importing a shipment of naphtha from…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Starved-Asia-Turns-to-Russia-After-US-Waiver.html

2026-04-01 11:30:00 CEST

Asian LNG Demand Plunges as Qatar Outages and Hormuz Chaos Bite
Imports of liquefied natural gas into Asian countries fell last month by the sharpest rate since 2020, when pandemic lockdowns decimated energy demand. The total for the month stood at 20.6 million tons, Bloomberg calculated, which was down by 8.6% on March 2025 - the most sizable drop since December 2020. Pakistan saw the biggest drop in LNG imports since it was buying it mainly from Qatar. LNG shipments to the country last month plummeted by 70% from a year earlier. India and China also cut their imports substantially, both seeing them down by…
https://oilprice.com/Latest-Energy-News/World-News/Asian-LNG-Demand-Plunges-as-Qatar-Outages-and-Hormuz-Chaos-Bite.html

2026-04-01 10:09:28 CEST

Brent Oil Dips Below $100 as Trump Signals End to Iran War
Brent Crude oil futures plunged by 4% early on Wednesday to trade below $100 per barrel for the first time in a week, after U.S. President Donald Trump signaled the war in Iran could end within three weeks. As of early morning trade in Europe, Brent Crude was down by 4.52% at $99.20, and WTI Crude was down by 4.04% at $97.30, after President Trump told reporters in the Oval Office late on Tuesday that the United States would be leaving Iran “very soon” and military action could end in two or three weeks. “We leave because there’s…
https://oilprice.com/Latest-Energy-News/World-News/Brent-Oil-Dips-Below-100-as-Trump-Signals-End-to-Iran-War.html

2026-04-01 03:00:00 CEST

Pentagon Insider Joins REalloys as Rare Earth Deadline Approaches
REalloys (NASDAQ: ALOY) has appointed former U.S. Secretary of Defense’s Chief of Staff Joe Kasper as chair of its advisory board, placing a senior defense supply chain official at the center of its push to build a U.S.-aligned rare earth metals platform as the country faces limited domestic supply and a hard 2027 deadline requiring U.S. defense systems to eliminate Chinese-sourced inputs. Kasper has been working inside the Pentagon on the exact supply chain breakdown REalloys is now trying to fix: the absence of U.S. capacity to produce…
https://oilprice.com/Energy/Energy-General/Pentagon-Insider-Joins-REalloys-as-Rare-Earth-Deadline-Approaches.html

2026-04-01 02:00:00 CEST

Big Oil Returns to Exploration as Reserves Dwindle
After years of upstream underinvestment and a short-lived foray into clean energy, the world’s biggest oil and gas firms are accelerating exploration efforts as they look to replenish their upstream portfolios. Executives at Big Oil have been signaling for nearly a year that they seek to boost upstream portfolios in a world where oil and gas demand is growing and will continue to grow for years to come. During the 2025 earnings calls and at last week’s CERAWeek event in Houston, the top brass of the largest oil and gas majors reiterated…
https://oilprice.com/Energy/Crude-Oil/Big-Oil-Returns-to-Exploration-as-Reserves-Dwindle.html

2026-04-01 02:00:00 CEST

Trump Media To Merge With Nuclear Fusion Startup
Last December, Trump Media & Technology Group Corp. (NYSE:DJT) entered the nuclear fusion race after it agreed to buy California-based fusion startup TAE Technologies in a $6-billion merger, creating one of the world's first publicly traded nuclear fusion companies. The merger is structured as an all-stock transaction whereby shareholders of both companies will each own roughly 50% of the new entity with the deal expected to close in mid-2026. TMTG agreed to provide TAE Technologies with up to $200 million in cash upon signing and an additional…
https://oilprice.com/Alternative-Energy/Nuclear-Power/Trump-Media-To-Merge-With-Nuclear-Fusion-Startup.html

2026-04-01 00:00:00 CEST

China Claims Cold-Proof Battery Breakthrough That Could Double EV Range
The infamous Texas Arctic freeze of five years ago exposed a key vulnerability of electric vehicles: Many drivers were forced to abandon their vehicles after being left stranded with dead batteries and no charging station in sight. While cold weather can lower driving range by ~10%, unusually low temperatures can cut it by up to 40% while increasing charging time by 300%. Thankfully, this could soon become a thing of the past: Chinese researchers have developed an all-weather battery electrolyte that is not only capable of maintaining high energy…
https://oilprice.com/Energy/Energy-General/China-Claims-Cold-Proof-Battery-Breakthrough-That-Could-Double-EV-Range.html

2026-03-31 23:15:29 CEST

US Crude Oil Inventories See Surprise 10 Million Barrel Spike
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by a staggering 10.263 million barrels in the week ending March 27. In the week prior, US crude oil inventories rose by 2.3 million barrels. Analysts had expected a draw of 1.3 million barrels in the current reporting period. Inventories in the US Strategic Petroleum Reserve (SPR) drew down for the first week in many, sinking by 300,000 barrels to 415.1 million barrels as of the week ending March 27. This is 310.4 million barrels shy of maximum…
https://oilprice.com/Latest-Energy-News/World-News/US-Crude-Oil-Inventories-See-Surprise-10-Million-Barrel-Spike.html

2026-03-31 23:00:00 CEST

Microsoft and NVIDIA Are Using AI to Fast-Track Nuclear Power Development
Tech giants Microsoft and NVIDIA are collaborating on an artificial intelligence project designed to accelerate the development of nuclear energy – in order to feed the growing energy needs of AI. The project aims to develop an “ecosystem of AI-powered digital engineering tools” that will be used to shorten the considerable timelines of nuclear power plants and bring them online a lot more quickly as the rate of energy demand growth continues to skyrocket around the world. The nuclear power sector in the United States is beset…
https://oilprice.com/Energy/Energy-General/Microsoft-and-NVIDIA-Are-Using-AI-to-Fast-Track-Nuclear-Power-Development.html

2026-03-31 22:00:00 CEST

Guyana's Oil Boom Will Boost Energy Security in the Americas
Guyana, once among South America's most impoverished nations, is experiencing an epic oil boom. In a mere four years, the country of less than one million went from first discovery to first oil and is now lifting over 900,000 barrels per day. There are signs of significant production growth ahead. This is occurring at a crucial time for a world experiencing an energy crisis after oil spiked to well-over $110 per barrel after Iran closed the Strait of Hormuz in retaliation for U.S. and Israeli airstrikes. Guyana's oil boom is significantly reducing…
https://oilprice.com/Energy/Energy-General/Guyanas-Oil-Boom-Will-Boost-Energy-Security-in-the-Americas.html

2026-03-31 21:00:00 CEST

Central Asia's Biggest Pipeline Deal Has a Data Problem
China’s leading international broadcaster, CGTN, aired an interview March 24 with Turkmenistan’s paramount leader, Gurbanguly Berdymukhamedov, touting how “mutual trust and centuries-old exchanges” shape present-day bilateral relations. But such messaging struck a discordant note during the actual interview, when Berdymukhamedov’s figures for his country’s natural gas exports to China proved significantly different than those subsequently proffered by Chinese officials. During the interview, taped while the Turkmen…
https://oilprice.com/Energy/Energy-General/Central-Asias-Biggest-Pipeline-Deal-Has-a-Data-Problem.html

2026-03-31 20:00:00 CEST

$150 Oil Could Tip World Economy Into Recession
The world economy is heading for a “rare” recession in the middle of this year as a prolonged war seems likely amid the prospect of US troops heading to the Middle East. Economists have warned that activity will fall in the middle of the year if oil prices surge to $150 per barrel and remain there for a period of four months. Oil prices continued to climb higher on Monday as the Brent Crude benchmark raced past the $116 per barrel mark amid mixed messages between the US, Israel and Iran on the state of the war. It…
https://oilprice.com/Energy/Energy-General/150-Oil-Could-Tip-World-Economy-Into-Recession.html

2026-03-31 18:00:00 CEST

How the Strait of Hormuz Crisis Could Trigger a Global Fertilizer Shock
The trade of global fertilizer and ammonia faces intense pressure due to the effective closure of the Strait of Hormuz as diplomatic talks between the US and Iran remain uncertain. Rystad Energy’s 2025 trade mapping shows that the sale of 15% of global ammonia and 21% of urea, which is used as a high-nitrogen fertilizer, are tied to exporters potentially impacted by the closure. This includes leading producers Saudi Arabia and Qatar, followed by Kuwait, Bahrain, the UAE, Iran and Iraq. Our analysis predicts this sustained logistics shock…
https://oilprice.com/Energy/Energy-General/How-the-Strait-of-Hormuz-Crisis-Could-Trigger-a-Global-Fertilizer-Shock.html

2026-03-31 17:30:00 CEST

Oil Prices Post Biggest Monthly Surge in History
Oil markets are closing March on a historic surge, with prices posting their biggest monthly gain ever after an unprecedented global supply shock. Gasoline Goes Galactic: Prices Jump, Diesel Spikes, and the White House Feels the Burn - Nationwide US gasoline prices topped $4 per gallon for the first time since August 2022, jumping to $4.018/USG as of March 31, raising domestic political risks for the Trump administration. - With gasoline now up by more than $1 per barrel since the US attack on Iran, prices keep on rising despite the White House’s…
https://oilprice.com/Energy/Crude-Oil/Oil-Prices-Post-Biggest-Monthly-Surge-in-History.html

2026-03-31 15:15:00 CEST

U.S. Sets April 6 Deadline for Iran as Oil Markets Brace for Escalation
US President Donald Trump has renewed his warning to Tehran to reach a deal to end the war soon and open the Strait of Hormuz, or he will order air strikes with the aim of "completely obliterating" Iran's oil export hub of Kharg Island, oil wells, and power plants. For the second day in a row, the US leader said a deal is likely at hand, but he also said in a social media post on March 30 that "if for any reason a deal is not shortly reached" US forces will react " by blowing up and completely obliterating all of their Electric Generating Plants,…
https://oilprice.com/Energy/Energy-General/US-Sets-April-6-Deadline-for-Iran-as-Oil-Markets-Brace-for-Escalation.html

2026-03-31 11:42:36 CEST

India Says 28 Oil and Gas Ships Are Stranded Near the Strait of Hormuz
At least 28 ships, including vessels carrying crude oil, liquefied petroleum gas (LPG), and LNG supplies to India, are currently stranded near the Strait of Hormuz, the Indian government has confirmed. The vessels include at least 10 foreign-flagged cargoes with supplies to India and 18 India-flagged ships, including those carrying energy products, according to Rajesh Kumar Sinha, Special Secretary in the Ministry of Ports, Shipping and Waterways. The stranded foreign-flagged vessels include four crude oil tankers, three vessels carrying LPG, and…
https://oilprice.com/Latest-Energy-News/World-News/India-Says-28-Oil-and-Gas-Ships-Are-Stranded-Near-the-Strait-of-Hormuz.html

2026-03-31 00:00:00 CEST

Oil Spike Collides With Fragile Global Growth
The worst energy crisis in history is sending ripples across global markets, and optimism is in short supply. IEA’s chief said the current crisis is worse than all previous ones put together. JP Morgan analysts warned Asia is going to be hit the hardest, although other analysts see Europe as suffering the most from the fallout. And yet it seems the seriousness of the situation has yet to sink in. The European Central Bank’s president, Christine Lagarde, said in a recent interview with The Economist that the risks stemming from the U.S.…
https://oilprice.com/Energy/Energy-General/Oil-Spike-Collides-With-Fragile-Global-Growth.html

2026-03-30 23:00:00 CEST

Three Crises, Four Years: Europe Keeps Failing the Same Energy Test
For the third time in four years, Europe is waking up to discover that it has sleepwalked into yet another energy crisis." When Russia illegally invaded Ukraine in February of 2022, Europe was caught in an extremely compromised position, as it was dependent on Russian producers for 40 percent of its natural gas. When energy sanctions were slapped on the Kremlin, the impact on European energy markets was dire, with many families plunging into energy poverty. In the years since that crisis, European leaders have made efforts to diversify their energy…
https://oilprice.com/Energy/Energy-General/Three-Crises-Four-Years-Europe-Keeps-Failing-the-Same-Energy-Test.html

2026-03-30 20:00:00 CEST

North Sea vs. Fuel Duty: The Political Fight Playing Out at UK Pumps
A Labour cabinet minister has pushed back against rallying calls for the government to hand petrol retailers some reprieve, stating there is “no need” to axe the planned hike in fuel duty. Education secretary Bridget Bridget Phillipson said on Sunday the government would “take a view closer to the time” on whether to press ahead with the controversial increase. The current main rate of fuel duty stands at 52.95p per litre, but includes a temporary 5p reduction introduced in 2022, which is scheduled to be reversed in stages…
https://oilprice.com/Energy/Energy-General/North-Sea-vs-Fuel-Duty-The-Political-Fight-Playing-Out-at-UK-Pumps.html

2026-03-30 20:00:00 CEST

Data Center Spending Is About to Rival the World’s Biggest Energy Markets
Data center capital expenditure reached $770 billion in 2025, surpassing investments for upstream oil and gas activities in the same year. Solar PV investments, broadly acknowledged as the most substantial growth story in energy supply over the past 10 years, had already been eclipsed by data centers in 2024. This year, Rystad Energy expects investments in data centers to match investments in both the renewable generation industry, as well as the full oil and gas sector – which comprises the upstream, midstream, and downstream sectors. While…
https://oilprice.com/Energy/Energy-General/Data-Center-Spending-Is-About-to-Rival-the-Worlds-Biggest-Energy-Markets.html

2026-03-30 19:30:00 CEST

QatarEnergy Brings U.S. LNG Online Amid Ras Laffan Fallout
Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil (NYSE:XOM), has achieved first production of liquefied natural gas (LNG) at its first liquefaction train, marking the transition of the facility from a receiving terminal into a major export hub as a global energy crisis emerges out of the Iran conflict. Located in Sabine Pass, Texas, the three-train project will have a nominal capacity of approximately 18 million metric tons per annum (mtpa) when fully operational. The giant project is part of QatarEnergy’s broader strategy…
https://oilprice.com/Latest-Energy-News/World-News/QatarEnergy-Brings-US-LNG-Online-Amid-Ras-Laffan-Fallout.html

2026-03-30 19:11:22 CEST

Powell: Fed Will 'Wait and See' Before Pulling Interest Rate Trigger
Federal Reserve Chair Jerome Powell on Monday said that U.S. monetary policy is in a good place, and the Fed will wait and see how the ongoing Middle East conflict will impact the economy and inflation before taking further action on interest rates. Powell reiterated that it is "too soon to know" the long-term scope and duration of the war's economic effects, noting that geopolitical risks make the outlook uncertain. According to the Fed chair, energy shocks tend to be temporary, and raising interest rates immediately to combat inflation caused…
https://oilprice.com/Latest-Energy-News/World-News/Powell-Fed-Will-Wait-and-See-Before-Pulling-Interest-Rate-Trigger.html

2026-03-30 19:00:00 CEST

Iran Invasion Would Be America’s Biggest Strategic Mistake Yet
The ghosts of Baghdad and Kabul should be enough to silence any serious talk of sending American troops into Iran. Yet here we are again, with voices in Washington and Tel Aviv whispering that only boots on the ground can neutralize Tehran’s nuclear ambitions, its local allies and its regional mischief. They are wrong. An American invasion of Iran would be a strategic catastrophe, a moral failure and a self-inflicted wound from which the United States might never fully recover. First, the military and logistical reality is brutal.…
https://oilprice.com/Energy/Energy-General/Iran-Invasion-Would-Be-Americas-Biggest-Strategic-Mistake-Yet.html

2026-03-30 17:30:00 CEST

South Korea Weighs First Public Driving Restrictions in 35 Years
South Korea is weighing the possibility to extend driving curbs from civil servants’ use of vehicles to the general public if oil prices hit $120 per barrel, Finance Minister Koo Yun Cheol said. If enacted, such a measure would be the first in South Korea since 1991 during the Gulf war. Early on Monday, oil prices were rising by over 2% with Brent Crude topping $115 per barrel amid an escalating conflict which now involves the Iran-backed Houthis in Yemen. South Korea has already restricted access by vehicle to government buildings in a rotating…
https://oilprice.com/Latest-Energy-News/World-News/South-Korea-Weighs-First-Public-Driving-Restrictions-in-35-Years.html

2026-03-30 17:00:00 CEST

Is Trump About To Fall Into Iran’s Trap?
“Iran’s been waiting for the U.S. to put boots on the ground because it knows that while it’s easy to get into a country militarily, it’s much more difficult to get out, and the longer the U.S. is on the ground, the more likely it is to be forced into making a better peace deal for Tehran,” a senior energy security source working closely with the European Union’s (E.U.) energy security complex exclusively told OilPrice.com over the weekend. “And two events this weekend [28-29 March] have dramatically increased…
https://oilprice.com/Energy/Crude-Oil/Is-Trump-About-To-Fall-Into-Irans-Trap.html

2026-03-30 16:30:00 CEST

War Complicates Pricing of Saudi Arabia’s Oil for Asia
Days before it is slated to announce pricing for May-loading cargoes for Asia, the world’s top crude exporter, Saudi Arabia, is unsure how the typical price mechanism could apply and is under pressure from buyers to switch to alternative pricing, as the war is upending oil flows and roiling regional benchmarks. Saudi Arabia typically announces around the fifth of each month its crude pricing for the following month and doesn’t comment on price changes. It also sets the tone for the pricing of the other major oil producers in the Middle…
https://oilprice.com/Latest-Energy-News/World-News/War-Complicates-Pricing-of-Saudi-Arabias-Oil-for-Asia.html

2026-03-30 13:30:00 CEST

China Sends Fuel to Struggling Southeast Asia Despite Export Ban
Despite a ban on fuel exports from early this month, China has delivered cargoes of diesel and other fuels to Southeast Asia in recent days in a sign that Beijing seeks to alleviate the regional crisis and retain diplomatic leverage. Two weeks after the war in the Middle East began and after it became clear that the Strait of Hormuz wouldn’t be re-opening within days, China banned all fuel exports as crude supply from the Middle East crumbled and forced Asian refiners to turn to alternatives. The restrictions took immediate effect on March…
https://oilprice.com/Latest-Energy-News/World-News/China-Sends-Fuel-to-Struggling-Southeast-Asia-Despite-Export-Ban.html

2026-03-30 11:40:00 CEST

Global Fuel Prices Are Surging as the Middle East War Hits Consumers
The jump in oil prices due to the war in the Middle East has translated into fuel price hikes across the world, from the United States to Europe and Asia. The retail prices of gasoline and diesel have so far jumped by between 5% and 80% in various countries, with the Philippines seeing a record 80% surge, according to estimates by the UAE-based Khaleej Times. Many governments are scrambling to contain the fallout with emergency measures, including lower levies on domestic sales and bans or higher duties on exports. India, the world’s third-largest…
https://oilprice.com/Latest-Energy-News/World-News/Global-Fuel-Prices-Are-Surging-as-the-Middle-East-War-Hits-Consumers.html

2026-03-13 18:30:00 CET

China’s Sinopec to Slash Refinery Rates amid Crude Supply Shock
The top Asian refiner, China’s state-controlled Sinopec, plans to slash this month its refinery processing rates by 11-13% as crude supply is choked by the Middle East war, Reuters reported on Friday, quoting sources with knowledge of the refining giant’s operations. Sinopec, whose refineries account for a third of all Chinese throughput, plans to lower its crude runs by between 600,000 and 700,000 barrels per day (bpd) in March, from initial plans to process 5.2 million bpd. The loss in refinery throughput does not include regular…
https://oilprice.com/Latest-Energy-News/World-News/Chinas-Sinopec-to-Slash-Refinery-Rates-amid-Crude-Supply-Shock.html

2026-03-12 20:00:00 CET

The UAE’s Energy Playbook Is Paying Off Amid Global Turmoil
Energy markets have entered an unprecedented crisis, pushing the world to look instinctively toward the largest producers: Saudi Arabia, the United States, or Russia. However, in the background, but sometimes hitting already the headlines, of today’s geopolitical turbulence, especially due to the ongoing, escalating confrontation around Iran, showing the fragility of maritime chokepoints (Hormuz), another actor has already, for years, quietly become indispensable to the current and future stability of global energy. The United Arab Emirates,…
https://oilprice.com/Energy/Crude-Oil/The-UAEs-Energy-Playbook-Is-Paying-Off-Amid-Global-Turmoil.html

2026-03-12 07:37:59 CET

Goldman Sachs Raises Oil Price Forecast as Middle East Conflict Escalates
Goldman Sachs has once again revised its oil price outlook, now expecting Brent crude to trade at $71 per barrel in the final quarter of the year, and WTI to average $67 per barrel over the same period, Reuters reported, citing the bank’s analysts. The investment bank’s earlier price outlook saw Brent crude at $66 per barrel in the last quarter of 2026 and WTI at $62 per barrel. At the moment, Brent crude is hovering around $100 per barrel, and WTI is above $90 per barrel. Goldman’s revision was based on an assumption that oil…
https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Raises-Oil-Price-Forecast-as-Middle-East-Conflict-Escalates.html

2026-03-12 01:00:00 CET

Europe Faces Jet Fuel Price Surge and Supply Shortages
The closure of the Strait of Hormuz since March 1 has triggered an unprecedented distortion in global jet fuel markets, pushing European aviation fuel prices to historic extremes and exposing the continent’s structural dependence on Middle Eastern supply. In a market where diesel has traditionally commanded a premium over jet fuel, the sudden disruption of Gulf exports has inverted long-standing price relationships, leaving Europe desperately searching for alternatives that are either geographically distant, commercially unattractive, or…
https://oilprice.com/Energy/Energy-General/Europe-Faces-Jet-Fuel-Price-Surge-and-Supply-Shortages.html

2026-03-09 19:00:00 CET

Asian Development Bank Unleashes Billions to Fuel Central Asia's Middle Corridor
The Asian Development Bank is on a spending spree in Central Asia, authorizing billions in support for states in Central Asia and the Caspian Basin. The bank’s primary aim appears to be stimulating the development of the Middle Corridor trade route. On March 2, the ADB announced up to $5.4 billion in financing covering the next four years for Kazakhstan following a meeting between the bank’s president, Masato Kanda, and Kazakh President Kassym-Jomart Tokayev. The commitment is designed to support Tokayev’s modernization program…
https://oilprice.com/Energy/Energy-General/Asian-Development-Bank-Unleashes-Billions-to-Fuel-Central-Asias-Middle-Corridor.html

2026-03-04 22:00:00 CET

Strait of Hormuz Closure Sends European Gas Benchmark Soaring
Military strikes in the Middle East and the effective closure of the Strait of Hormuz have triggered one of the sharpest moves in European gas markets over the past year, with the Title Transfer Facility (TTF) benchmark surging on disrupted liquefied natural gas (LNG) flows. The shock is transmitting directly into European power markets, with price reactions varying according to national gas exposure. Beyond the immediate volatility, the market reaction underscores the structural linkage between global LNG supply, European electricity pricing and…
https://oilprice.com/Energy/Natural-Gas/Strait-of-Hormuz-Closure-Sends-European-Gas-Benchmark-Soaring.html

2026-03-04 07:27:42 CET

JP Morgan Warns of Catastrophic Oil Supply Loss from Middle East War
The war in Iran could result in production losses of over 3 million barrels daily by the end of the week, with those losses potentially topping 4 million barrels daily if the war continues for more than a couple of weeks. This is according to JP Morgan commodity analysts who said Iraq is the most vulnerable, with three days of storage space, while Kuwait had two weeks’ worth of storage before it was forced to start cutting production. Iraq has already started shutting in oil production, due to storage capacity constraints. To date,…
https://oilprice.com/Latest-Energy-News/World-News/JP-Morgan-Warns-of-Catastrophic-Oil-Supply-Loss-from-Middle-East-War.html

2026-03-03 11:14:15 CET

U.S. Not Planning To Tap Strategic Petroleum Reserve Immediately
The United States does not plan an immediate release crude from the Strategic Petroleum Reserve (SPR) as a means to mitigate the effect of the Iran war on global oil prices and domestic fuel prices, a source with knowledge of the matter has told Bloomberg. Late on Monday, U.S. Secretary of State Marco Rubio said the United States would unveil on Tuesday a phased plan to mitigate the spike in oil prices amid the ongoing conflict in Iran and the wider Middle East. The U.S. knew that oil prices would spike after the weekend in which attacks…
https://oilprice.com/Latest-Energy-News/World-News/US-Not-Planning-To-Tap-Strategic-Petroleum-Reserve-Immediately.html

2026-03-02 12:55:00 CET

How China’s Rare Earth Ban Backfired into a U.S. Tech Breakthrough
In a typical Chinese rare earth processing plant, 200 workers move through a maze of massive chemical tanks, risking life and limb to produce the materials that power everything from fighter jets and missile components to cellphones. Hundreds of these facilities operate across China, and they give Beijing overwhelming control over the single most critical choke point in the modern industrial economy. But now, in Saskatchewan, Canada, a hi-tech plant of engineers and chemists is beginning to break that monopoly. The facility is built around an AI…
https://oilprice.com/Energy/Energy-General/How-Chinas-Rare-Earth-Ban-Backfired-into-a-US-Tech-Breakthrough.html

2026-03-02 07:22:08 CET

Analysts See $100 Oil on Strait of Hormuz Disruption
Following the escalation of the conflict in the Middle East, energy analysts and investment banks expect oil prices to surge this week to $90 with chances of hitting $100 per barrel if disruptions to traffic in the crucial Strait of Hormuz persist. Early on Monday in Asian trade, oil prices had already spiked by 10% to above $80 per barrel Brent. Seeing the scale of the conflict and the already disrupted traffic through the Strait of Hormuz, analysts expect further spikes at least this week. Citigroup expects Brent Crude to trade in…
https://oilprice.com/Latest-Energy-News/World-News/Analysts-See-100-Oil-on-Strait-of-Hormuz-Disruption.html

2026-02-28 17:01:00 CET

Inside North America’s First Fully Integrated Rare Earth Facility
For decades, the West has been sleepwalking into dependency. While we built the world’s most advanced fighter jets, smartphones, and electric vehicles, we quietly surrendered the most important component of modern tech. Rare earth elements. Today, China controls 95% of the world’s rare earth processing capacity…a leverage point so powerful, it could cripple Western economies in a matter of months. But in the heart of Canada, the tide is finally turning. Saskatchewan Research Council (SRC), Canada’s second-largest research…
https://oilprice.com/Interviews/Inside-North-Americas-First-Fully-Integrated-Rare-Earth-Facility.html

2026-02-27 16:00:00 CET

Zelenskyy Pushes for Trilateral Summit With U.S. and Russia in Abu Dhabi
President Volodymyr Zelenskyy said that Kyiv is counting on a future trilateral meeting with the United States and Russia to take place in early March after Ukrainian and US negotiating teams wrapped up the latest round of peace talks in Switzerland. Zelenskyy said in a video address on Telegram after the February 26 meeting in Geneva, Switzerland, that "there is more readiness for the next trilateral format. "Most likely, the next meeting will be in the United Arab Emirates, in Abu Dhabi," he said. Urging the finalization of what Ukrainian and…
https://oilprice.com/Energy/Energy-General/Zelenskyy-Pushes-for-Trilateral-Summit-With-US-and-Russia-in-Abu-Dhabi.html

2026-02-27 07:45:00 CET

Oil Prices Set for Weekly Decline as Risk Premium Eases
Crude oil prices were on course for their first weekly decline in four weeks as the United States and Iran signaled they were willing to continue negotiating instead of escalating to a hot war. At the time of writing, Brent crude was trading at $71 per barrel, with West Texas Intermediate at $65.56 per barrel, after three weeks of gains. Brent crude has gained more than $3 per barrel over the past four weeks, and WTI is also up by some $3 per barrel. “Traders are in wait-and-see mode heading into the weekend with Iran tensions mounting on…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Set-for-Weekly-Decline-as-Risk-Premium-Eases.html