Unconfirmed Houthi strike claims on Saudi oil sites and a reported mine hit in Hormuz pushed Brent past $111. With diesel at $6.32, truckers, farmers and grocery shoppers carry the load, and U.S. barrels and refineries are the cushion. By Energy News Beat | Tuesday, Oct. 20, 2026 | Pump prices as of 7:19 a.m. […]
Continue Reading
Chinese refiners are set to slow the pace of inventory drawdowns this month as crude imports recover, according to Energy Aspects. More overseas crude is expected to arrive from November, allowing China to preserve its substantial stockpile buffer against further supply disruptions. Analyst Jianan Sun of Energy Aspects noted that recent purchases of Iraqi and […]
Continue Reading
Crude is moving again through the Strait of Hormuz. The fuel Americans actually buy is not. That is the gap David Blackmon flags in his October 7 Forbes piece, “Oil Is Flowing Again But Gasoline, Diesel Prices Aren’t Cooperating,” and the data behind it explain why pump prices remain stuck near records even as headlines […]
Continue Reading
Crude dipped below $98 Tuesday on recovering Middle East exports and a G7 stockpile release, then climbed back to $100. Gasoline is still $4.37 and diesel $6.32. Nearly 20 ship attacks in a month, “scarily thin” inventories and an SPR at a 44-year low say the relief is fragile. On paper, Tuesday looked like relief. […]
Continue Reading
That is the argument Javier Blas is making in his September 23 Bloomberg Opinion column, China Isn’t Buying More Oil, It’s Buying From Different Markets (also framed as “Don’t Believe the Hype About China’s Oil Buying”). The global market treated China’s pre-war appetite as a floor. In 2026 it became a valve. The Blas thesis: […]
Continue Reading
U.S. Central Command forces destroyed five Iranian crude oil carriers on September 8 after the Islamic Revolutionary Guard Corps launched ballistic missiles at a U.S. Navy warship twice in two days. The American vessel evaded both attacks and continued patrols with no personnel harmed. CENTCOM identified the targeted vessels as the M/T Kaviz, M/T Charminar, […]
Continue Reading
President Trump’s administration is in advanced talks with Venezuela’s interim government for what officials describe as a “massive” energy deal: a U.S. ownership stake or long-term lease covering 17 of the country’s most promising oil and gas fields holding about 90 billion barrels of proven reserves. That is nearly a third of Venezuela’s world-leading 300 […]
Continue Reading
Indian state-controlled refiners Hindustan Petroleum Corporation Limited (HPCL) and Mangalore Refinery and Petrochemicals Limited (MRPL) are in the market for a combined up to 6 million barrels of spot crude, according to tender documents reviewed by Reuters and reported on August 12, 2026. HPCL is seeking up to 4 million barrels for delivery in September […]
Continue Reading
Gulf shipping traffic effectively stalled this week after Yemen’s Iran-aligned Houthis claimed a “precise hit” with several ballistic missiles on the Saudi-flagged products tanker NCC WAFA (also referred to as Wafaa) in the northern Red Sea off the Yanbu area. The Houthi statement, reported via outlets including Al Bawaba, described a military operation targeting the […]
Continue Reading
Global demand for liquefied natural gas (LNG) carriers is set to be significantly stronger than previously expected over the next decade. French containment-system specialist Gaztransport & Technigaz SA (GTT) has raised its forecast for LNG carrier gas-containment system design orders to about 550 vessels in the 2026–2035 period, up from its earlier estimate of more […]
Continue Reading