Crude oil prices fell on Monday as traders monitored the potential recovery of Saudi oil shipments following missile and drone attacks by Iran-backed Houthi forces on Saturday. JPMorgan analysts said in a September 18 note that Middle East oil flows remained “surprisingly strong” despite disruption to Saudi Arabia’s East-West pipeline, while US Central Command chief …
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The Iranian Armed Forces’ Central Command stated that it received information about the United States planning to resume its “actions” against Iran, and warned that Tehran will retaliate, Iran’s state media outlet IRIB News reported on Sunday. “We warn that if the US commits any act of aggression against the Islamic Republic of Iran, all …
United States President Donald Trump signed into law the Russian sanctions bill sponsored by late Senator from South Carolina Lindsay Graham. The legislation allows the president to impose tariffs of up to 100% on the five largest buyers of Russian oil, with China and India poised to feel the biggest impact, as both nations continue to …
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French President Emmanuel Macron is calling the G7 back to the table to discuss another release of emergency oil stocks as Europe loses Saudi crude deliveries and diesel prices push deeper into record territory. Macron said Friday that he will convene G7 countries in the coming weeks to coordinate stock levels, exports and production capacity and …
A tanker reported an attempted interception by a skiff about 75 nautical miles east of Aden, Yemen, the United Kingdom Maritime Trade Operations (UKMTO) said Thursday. According to UKMTO, the skiff pursued the vessel and attempted to intercept it. Authorities are investigating the incident. Furthermore, the agency has advised ships operating in the area to …
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The Iran-backed Houthis in Yemen are expanding their control over the west coast along the Red Sea, while the attacks on a key Saudi onshore oil pipeline triggered concerns about additional disruptions to already severely disrupted oil supply from the Middle East. As it has become customary when oil prices rally above $100 a barrel, …
Houthis maintain control of west coast of Yemen, officials say Iran-backed group said to be increasing drone and missile strikes Saudis and Yemenis retaliate with air power Gulf states postpone talks over reopening Stait of Hormuz Yemen’s Iran-aligned Houthis launched a new wave of attacks on Saudi Arabia and were digging into positions on the …
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Saudi Arabia’s East-West pipeline, damaged in a drone strike last week, will remain out of service for weeks, two unnamed officials told Associated Press (AP) on Monday. The exact deadline for reopening the crucial pipeline, one of the most important in the oil-rich nation, is widely seen as crucial for bypassing Iran’s blockade of the Strait …
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Crude prices rose as much as 4.5% on Monday after an attack on Saudi Arabia’s East-West pipeline, which is likely to take weeks to repair. Meanwhile, the situation in the Strait of Hormuz remains tense, with reports of strikes against commercial ships and an impasse on reopening the waterway. The West Texas Intermediate (WTI) for deliveries in October gained …
Continue reading “Oil jumps 4.5% as supply concerns persist”
A Special Report on the Battle for the World’s Oil Chokepoints Editorial Analysis There are moments in history when a decision made in Washington changes the strategic map almost overnight. For President John F. Kennedy, one of those moments was the Bay of Pigs. And it established a Russian communist strong hold in the Caribbean …