Iran War Has Ended, But VLCC Tanker Rates Stay Near $650,000 a Day
Tanker rates hit record highs even as oil resumes flowing through Hormuz. Here is what the shipping crunch reveals about whether the Iran war has truly ended.
Edward Byrd4 min read
crude oil prices
Edward Byrd4 min read
US in Talks to Take Direct Ownership of Venezuelan Oil Fields
Crude gains as USO rises 2.09% amid reports that talks take direct aim at U.S. equity stakes in Venezuelan oil fields holding roughly 90 billion barrels of reserves.
James Stephens3 min read
Satellite Images Show Iran Rebuilding Fast Amid Oil Activity
Crude oil fund USO dropped 4.58 percent as satellite images show Iran is rebuilding fast even while its oil exports lag, and Iraq quietly ramps up Gulf shipments.
Holly Herrera4 min read
India Crude Import Bill Analysis: Costs Rise as Hormuz Shipping Rates Soar
India's crude import bill keeps climbing as Hormuz shipping rates soar past 400% and war risk insurance hits $10 million a voyage, even as USO shares slide on the day.
Holly Herrera3 min read
TotalEnergies Backs Two Major Oil Pipelines to Bypass Hormuz
TotalEnergies backs two pipelines meant to bypass the Strait of Hormuz, as crude oil futures via USO dip 1.8% amid ongoing supply route concerns.
Holly Herrera2 min read
UAE Oil Output Hits All Time High, Doubling Pre Crisis Levels
UAE oil output hit a record 4.1 million barrels a day in June even as the Strait of Hormuz was blocked, while crude prices slipped on the day.
Jake Fox3 min read
Strait of Hormuz Tanker Traffic Falls to Five Week Low
Tanker traffic through the Strait of Hormuz hit a five week low after fresh U.S. strikes on Iran and Tehran's retaliation, pushing ships back into dark mode transits.
Jake Fox3 min read
Escalating Protests in Libya Threaten Oil and Gas Supply
Protesters storm Libya's Mellitah Oil and Gas complex, threatening exports to Italy, as crude prices hover near yearly highs amid fears of a fresh supply shock.
Jake Fox3 min read
Iran Oil Supply to China Is Rapidly Drying Up
Iranian crude bound for China has nearly dried up under a renewed U.S. blockade, pushing prices higher and forcing refiners to scramble for Russian alternatives.
Holly Herrera4 min read
Saudi Oil Exports Surge via Mediterranean to Avoid Houthi Attacks
Saudi Aramco is rerouting crude through Egypt to dodge Houthi threats in the Red Sea, lifting Sidi Kerir exports by a third. Here is what it means for oil markets.
Holly Herrera4 min read
Does Iran Have Oil That Still Matters Globally
Crude oil is climbing as a U.S. blockade cuts off Iranian exports, yet refined product markets suggest futures still aren't pricing in the full risk. Here's what's driving the move.
Jake Fox3 min read
China Refinery Runs Fall to Pandemic Level Lows
Crude oil ETF USO climbs 1.26% even as China refinery runs sink to pandemic era lows, driven by a historic drop in crude imports and softening fuel demand.
James Stephens3 min read
Gulf Oil Exports Briefly Hit Pre War Levels Before New Escalation
Gulf oil exports briefly rebounded to pre conflict levels before fading again as US Iran tensions choke tanker traffic through the Strait of Hormuz, rattling crude markets.
Edward Byrd3 min read
Saudi Red Sea Crude Exports Drop 41% From March Peak
Saudi Arabia leaned on the Red Sea to dodge Hormuz risk, but Houthi tanker strikes near Bab el Mandeb now threaten the very route it built its export strategy around.
James Stephens4 min read
Red Sea Tanker Traffic Falls to Multi Month Low After Houthi Threats
Crude oil ETF USO climbed 1.34% as red sea tanker traffic hit a multi-month low amid Houthi attacks on Saudi oil infrastructure, forcing tankers to reroute or go dark near…
Jake Fox3 min read
Russian Crude Exports Fall to Lowest Level Since May
Crude oil fund USO climbed 1.34% as Russian seaborne exports hit their lowest since May. Port strikes, refinery repairs, and tanker shortages are squeezing Black Sea and Baltic loadings alike.
Holly Herrera4 min read
BP to Take Full Control of Trinidad Calypso Gas Project
BP takes full control of the Calypso gas project from Woodside Energy while crude oil, tracked via the USO fund, drifts lower. Here is what the deal signals for regional…
Jake Fox4 min read
Japan Trade Chief Warns Strait of Hormuz Closure as Tensions Rise
Crude climbs as shippers abandon the Strait of Hormuz over renewed danger, forcing Japan to tap emergency reserves and hunt for oil far from its usual Middle East suppliers.
Jake Fox3 min read