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Keywords: Oil supplies
US Energy Secretary Chris Wright has said that oil flows from the Gulf region have recovered to approximately 80% of their pre-war levels. Speaking to Fox News, Wright described the progress in restoring energy supplies amid ongoing concerns about disruptions to regional shipping and their impact on......
Shipping traffic through the Strait of Hormuz has declined sharply, raising renewed concerns about the stability of one of the world’s most important energy corridors and the potential impact on global oil and gas supplies. Shipping data released Wednesday showed that only four vessels passed......
Global fuel oil markets are facing the prospect of a significant supply shortage in the third quarter as disruptions linked to the war in the Middle East encourage refineries to prioritize higher-demand products such as diesel, gasoline and jet fuel. Energy consultancy Energy Aspects estimates that......
Only six cargo vessels crossed the Strait of Hormuz on Tuesday, according to maritime tracking data, marking the lowest daily level recorded in several weeks as security concerns continue to discourage shipowners from using the strategic waterway. Data from maritime intelligence firm Kpler showed that......
U.S. President Donald Trump has announced an intention to declare the Strait of Hormuz U.S. territory after the conclusion of the war with Iran, a statement that could have major legal, geopolitical and economic consequences. Speaking at an event in New York, Trump said that following what he described......
Shipping data showed that maritime traffic through the Strait of Hormuz dropped to its lowest level in a week on Tuesday, as shipowners continued to avoid the strategically important waterway amid heightened tensions surrounding the conflict with Iran. According to data from Kpler, only eight vessels......
The International Energy Agency (IEA) has warned that the global oil market is facing growing supply risks as escalating tensions in the Middle East put pressure on commercial inventories and threaten key energy routes. IEA Executive Director Fatih Birol said the agency was closely monitoring developments......
A Russian airstrike on January 27 damaged critical infrastructure along the Ukrainian section of the Druzhba pipeline, halting the flow of Russian crude oil to Hungary and Slovakia and triggering a diplomatic clash between Budapest and Kyiv ahead of Hungary’s parliamentary elections. Ukrainian......