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2026-03-30 19:30:00 UTC

Bangladesh Seeks U.S. Waiver for Russian Diesel as IMF Warns of Energy Shock
Bangladesh has formally requested a temporary sanctions waiver from the United States to import roughly 600,000 metric tonnes of Russian diesel to cover two months of demand as its energy crisis intensifies, Reuters reported on Monday, with officials pointing to Washington’s recent 30-day waiver granted to India as precedent. The move comes as the International Monetary Fund (IMF) warns the Iran war is driving a global energy shock, with disrupted oil flows pushing up fuel costs, tightening financial conditions, and placing acute pressure…
https://oilprice.com/Latest-Energy-News/World-News/Bangladesh-Seeks-US-Waiver-for-Russian-Diesel-as-IMF-Warns-of-Energy-Shock.html

2026-03-30 19:00:00 UTC

Ecuador Loses $100 Million a Year to Fuel Theft, and It's Getting Worse
A little-recognized consequence of soaring cocaine related lawlessness and bloodshed in the tiny South American country of Ecuador is a massive surge in hydrocarbon theft. This serious problem, long associated with Colombia, which is the world's largest cocaine producer, arose because of the tremendous profits that can be earned from stealing gasoline and diesel. Rising fuel prices along with heightened lawlessness are driving ever-higher levels of hydrocarbon theft, which even government crackdowns appear incapable of stopping. Not long after…
https://oilprice.com/Energy/Crude-Oil/Ecuador-Loses-100-Million-a-Year-to-Fuel-Theft-and-Its-Getting-Worse.html

2026-03-30 18:00:00 UTC

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 18:00:00 UTC

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 17:30:00 UTC

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 17:11:22 UTC

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 17:00:00 UTC

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 16:00:00 UTC

The Sudden Diplomatic Thaw Keeping a Critical Russia-Iran Trade Route Alive
A fast thaw in relations between the Kremlin and Azerbaijan occurred in March, enabling a strategic link connecting Russia and Iran to keep functioning, despite the ongoing US-Israeli bombing campaign in Iran. Some Western observers believe the route, known as the western branch of the North-South corridor, is being used by Russia to funnel weapons to Iran to keep the war in the Persian Gulf going. Russian-Azerbaijani relations had been tense since Russian air-defense forces accidentally shot down an Azerbaijani civilian airliner in late 2024 and…
https://oilprice.com/Geopolitics/Middle-East/The-Sudden-Diplomatic-Thaw-Keeping-a-Critical-Russia-Iran-Trade-Route-Alive.html

2026-03-30 15:30:00 UTC

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 15:00:00 UTC

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 14:30:00 UTC

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 14:00:00 UTC

Trump Floats Seizing Iran’s Oil While Predicting Imminent Deal
US President Donald Trump said he wants to “take the oil in Iran” and perhaps seize Kharg Island, while at the same time insisting that Washington is doing “extremely well” in negotiations with Iran and that he is "pretty sure" a peace deal will be reached "soon." The mixing of threats and the possibility of a peace deal with Tehran came in an interview published late on March 29 in the Financial Times and in remarks an hour later to reporters aboard Air Force One. To reporters, Trump hailed progress in talks with Iran,…
https://oilprice.com/Energy/Energy-General/Trump-Floats-Seizing-Irans-Oil-While-Predicting-Imminent-Deal.html

2026-03-30 13:35:22 UTC

Brent Hits $115 as Trump Threatens Iran's Oil Wells and Power Plants
President Donald Trump on Monday threatened to destroy Iran's power plants, oil wells, Kharg Island, and potentially its desalination infrastructure if no ceasefire deal is reached, even as he claimed talks are moving in the right direction. "Great progress has been made but, if for any reason a deal is not shortly reached...we will conclude our lovely 'stay' in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully…
https://oilprice.com/Latest-Energy-News/World-News/Brent-Hits-115-as-Trump-Threatens-Irans-Oil-Wells-and-Power-Plants.html

2026-03-30 11:30:00 UTC

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 09:40:00 UTC

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

2026-03-30 08:30:00 UTC

Russian Tanker Set to Arrive in Cuba Despite U.S. Blockade
A tanker loaded with Russian fuel is set to arrive in Cuba as the United States considers lifting the blockade of the island to let it pass, Bloomberg reported today, citing unnamed sources in the know from Washington. Reuters reported earlier today that the tanker, Anatoly Kolodkin, had entered Cuba’s exclusive economic zone. Earlier in the month, the U.S. said Russian tankers were “banned” from delivering oil to Cuba, where the Trump administration is trying to effect regime change by choking off energy supplies. The U.S. president,…
https://oilprice.com/Latest-Energy-News/World-News/Russian-Tanker-Set-to-Arrive-in-Cuba-Despite-US-Blockade.html

2026-03-30 06:22:02 UTC

Oil Set to Book Record Monthly Gain on Iran Crisis
Oil prices are about to log their biggest monthly rise on record following Houthi attacks on Israel and President Trump’s statement that he wants to take Iran’s oil. The international benchmark was set for a 59% increase since the start of March, Reuters said. At the time of writing, Brent crude was trading at $115.52, after topping $116 per barrel earlier in the day in Asia following the news of the Houthi strikes. West Texas Intermediate was trading at $101.04 per barrel. “The conflict is no longer concentrated in the Persian…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Set-to-Book-Record-Monthly-Gain-on-Iran-Crisis.html

2026-03-30 02:48:00 UTC

Oil Climbs on Fears of Multi-Front Supply Shock
Oil prices had another volatile start to the week before breaking out due to a combination of military escalation and diplomatic breakdown. At the time of writing, after climbing to $116 and then flash crashing to $114, Brent Crude was trading at $116.69, up 3.66%. Meanwhile, West Texas Intermediate had risen 3.18% to $102.80. Another weekend of escalation in the conflict started with an Iranian strike on Prince Sultan Air Base in Saudi Arabia on Saturday, wounding at least 15 U.S. service members and damaging key aerial refueling assets. The strike…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Climbs-on-Fears-of-Multi-Front-Supply-Shock.html

2026-03-29 19:00:00 UTC

China Pushes Electric Vehicles Toward the Five-Minute Charge Era
Electric vehicle (EV) makers are racing to develop the fastest battery chargers to give them the competitive edge, with Chinese producers once again coming out on top. One of the biggest criticisms consumers have is the length of time it takes to charge EVs, compared to refuelling internal combustion engine (ICE) alternatives. This has led several EV-makers to invest heavily in research and development into charging technology over the last decade. Some EV producers now think they may have the solution - ultrafast chargers. The race to develop…
https://oilprice.com/Energy/Energy-General/China-Pushes-Electric-Vehicles-Toward-the-Five-Minute-Charge-Era.html

2026-03-29 17:00:00 UTC

Why Africa Must Build Energy Capacity Fast
Africa needs to strengthen its energy sector in a hurry. The continent is the most underdeveloped on the planet, and today approximately 600 million Africans lack access to electricity. These numbers are in danger of skyrocketing if African leadership does not massively expand its energy production capacities and grid infrastructure, as the population is expected to double between now and 2050. In fact, experts predict that by midcentury, a quarter of the global population will be in sub-Saharan Africa. Meeting the needs of this growing population…
https://oilprice.com/Energy/Energy-General/Why-Africa-Must-Build-Energy-Capacity-Fast.html

2026-03-29 15:00:00 UTC

The High Cost of Canceling Offshore Wind in the United States
Donald Trump’s hatred for wind farms reached a new peak this week. The President announced that the United States will pay $1 billion in taxpayer dollars to a French company to not build planned wind farms in leased federal waters off the coast of New York and North Carolina. Together, those wind projects would have supplied more than 4 gigawatts of clean electricity for households and businesses in the United States. Under the unusual deal, the French energy giant TotalEnergies would abandon its planned wind farms and annul the lease deal…
https://oilprice.com/Energy/Energy-General/The-High-Cost-of-Canceling-Offshore-Wind-in-the-United-States.html

2026-03-28 21:00:00 UTC

Middle East War Reignites the Energy Transition
The worst oil and gas supply shock in history has exposed the vulnerability of dependence on fossil fuel imports and is making renewables popular again. As governments scramble to contain the fallout from the energy shock, both in supply and prices, increased electrification in transportation and power generation is once again the talk of the town. As the war in the Middle East laid bare the shock of losing oil and gas supply, policymakers and analysts are once again considering the benefits of fossil fuel importers boosting the share of renewable…
https://oilprice.com/Alternative-Energy/Renewable-Energy/Middle-East-War-Reignites-the-Energy-Transition.html

2026-03-28 19:00:00 UTC

Is It Time for Energy Rationing to Return?
In the face of ongoing conflict in the Middle East and the resulting energy shortages, the International Energy Agency (IEA) is recommending that consumers reduce their energy consumption. This is expected to help people tackle their rising energy bills. Meanwhile, several governments are putting energy restrictions in place to mitigate the risk of shortages, with greater uncertainty around how long the conflict might last. The U.S.-Israeli attack on Iran and the ongoing conflict in the Middle East have caused the biggest oil disruption in history,…
https://oilprice.com/Energy/Energy-General/Is-It-Time-for-Energy-Rationing-to-Return.html

2026-03-28 17:00:00 UTC

Washington Plans $1 Billion Deal to Kill Wind Power as Energy Prices Rise
United States President Donald Trump will not stop in his efforts to quash offshore wind energy development, as he offers France’s TotalEnergies almost $1 billion to permanently halt its wind projects. The move follows more than a year of Trump badmouthing wind energy, cutting federal financial support for wind projects, and refocusing energy policy on fossil fuels. Wind contributes around 10 percent of U.S. energy at present, with wind capacity having grown rapidly following the introduction of the Inflation Reduction Act (IRA) and other…
https://oilprice.com/Energy/Energy-General/Washington-Plans-1-Billion-Deal-to-Kill-Wind-Power-as-Energy-Prices-Rise.html

2026-03-28 15:00:00 UTC

Why Spain Is Weathering Europe’s Energy Crunch Better Than Most
Europe has “sleepwalked into yet another energy crisis” watching energy prices spike across the continent for the second time in four years due to instability in global politics and energy trade. Four years after the Russian invasion of Ukraine sent global energy markets reeling, Europe has made significant progress weaning itself off of Russian oil and gas imports and building up its own energy supply chains. But the European Union still relies on imports for more than half of its energy needs, leaving it achingly vulnerable to the…
https://oilprice.com/Alternative-Energy/Solar-Energy/Why-Spain-Is-Weathering-Europes-Energy-Crunch-Better-Than-Most.html

2026-03-27 22:00:00 UTC

The Cushion Is Gone and the Oil Market Is Now Exposed
The global oil market has been on a rollercoaster since late February, but the price reaction to the largest supply disruption in history has been relatively muted. The calm was not complacency; buffers were there to absorb the shock. But the system that held for four weeks is no longer the system we are operating in today. The oil market did not underreact to the disruption in the Strait of Hormuz; it absorbed it. For nearly four weeks, markets have shown remarkable resilience in the face of disruption, supported by a combination of pre-war surplus,…
https://oilprice.com/Energy/Energy-General/The-Cushion-Is-Gone-and-the-Oil-Market-Is-Now-Exposed.html

2026-03-27 20:00:00 UTC

Why the Iran Conflict Is Good News for Chinese Automakers
A sharp rise in oil prices tied to the US-Israel confrontation with Iran is likely to speed up the global transition to electric vehicles, strengthening a shift that has already helped China overtake Japan as the world’s top car seller, according to South China Morning Post. Crude prices have surged past $100 a barrel amid fears of disruption to energy supplies, particularly through the Strait of Hormuz. US President Donald Trump escalated tensions by warning he would “obliterate” Iran’s power plants if shipping through…
https://oilprice.com/Energy/Energy-General/Why-the-Iran-Conflict-Is-Good-News-for-Chinese-Automakers.html

2026-03-27 18:30:00 UTC

Aker BP’s Earnings Slide Masks a Massive Growth Push
Aker BP’s 2025 Annual Report confirms what the market has been sensing for months: this was not a peak year—it was a transition year.Production held firm, costs remained low, and shareholder payouts continued. But weaker realized oil prices and impairments drove a sharp drop in earnings, even as the company doubled down on a capital-intensive growth pipeline aimed at the late 2020s. Production Holds, But Growth PausesAker BP delivered 420.1 thousand barrels of oil equivalent per day (mboepd) in 2025, landing at the top end of guidance.…
https://oilprice.com/Latest-Energy-News/World-News/Aker-BPs-Earnings-Slide-Masks-a-Massive-Growth-Push.html

2026-03-27 18:00:00 UTC

A Key Russia-Iran Supply Line Remains Open Despite the War
All the bombs dropped by the United States and Israel over the past four weeks on Iran have not disrupted a key trade route with Russia that both Tehran and Moscow rely on to help keep their respective war efforts going. And Azerbaijan, despite its strong ties to both the United States and Israel, has played a crucial role in keeping the route open. Russian Deputy Prime Minister Alexey Overchuk, in comments published by the Interfax news agency on March 25, said the “western branch” of the North-South trade corridor continued to operate…
https://oilprice.com/Energy/Energy-General/A-Key-Russia-Iran-Supply-Line-Remains-Open-Despite-the-War.html

2026-03-27 17:09:00 UTC

US Drillers Pull Back As WTI Soars Past $98
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 543, down 49 from this same time last year. The number of active oil rigs fell by 5 to 409 during the latest reporting period, according to the data. This is 75 below this same time last year. The number of gas rigs fell by 4, sinking to 127, which is 24 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-Drillers-Pull-Back-As-WTI-Soars-Past-98.html

2026-03-27 16:00:00 UTC

U.K. Oil Producer Urges North Sea Revival as Hormuz Crisis Disrupts Supply
Serica Energy has urged the government to prioritise domestic production in the North Sea, as oil and gas supplies continued to be held in the Strait of Hormuz amid the Iran war in its latest annual results. Serica noted that confidence in the UK North Sea sector had been “eroded” and while the government has undertaken consultations, it is yet to be “translated into actions”. The company called on the government to approve the development of new oil and gas fields in order to reduce the risks of future oil and gas crises…
https://oilprice.com/Energy/Energy-General/UK-Oil-Producer-Urges-North-Sea-Revival-as-Hormuz-Crisis-Disrupts-Supply.html

2026-03-27 15:30:00 UTC

Asia Begins Pricing U.S. Oil Against Brent as Dubai Volatility Spikes
Asian refiners have started pricing their orders for U.S. crude oil against the ICE Brent benchmark instead of the typical pricing on Dubai crude, as the Middle Eastern benchmark has seen wild fluctuations amid choked physical supply from the Persian Gulf. Dubai crude prices soared last week to an all-time high of $169.75 per barrel, and were at $129.99 a barrel early on Friday. These highly volatile prices and the uncertainty about supply from the Middle East have prompted refiners in Asia to seek pricing against Brent, instead of the Dubai benchmark…
https://oilprice.com/Latest-Energy-News/World-News/Asia-Begins-Pricing-US-Oil-Against-Brent-as-Dubai-Volatility-Spikes.html

2026-03-27 15:00:00 UTC

Brent Surges Past $110 on Iran Rejection
Oil markets are being driven by the standoff over the Strait of Hormuz, with Iran rejecting U.S. terms and delays in negotiations pushing Brent back above $110. Friday, March 27, 2026 The closure of the Hormuz Strait against Donald Trump’s hopes for constructive negotiations, such is the main price-defining relationship this week for oil markets. In a somewhat peculiar fashion, prices reacted immediately to Trump’s first 5-day deadline extension, however today’s 10-day postponement triggered a spike that sent ICE Brent above $110…
https://oilprice.com/Energy/Crude-Oil/Brent-Surges-Past-110-on-Iran-Rejection.html

2026-03-27 14:30:00 UTC

Russia's Baltic Ports Burning Again as Ukraine Drone Campaign Enters Third Day
Russia's vital oil export loading ports on the Baltic Sea appeared to be on fire again early on Friday, as Moscow is not getting reprieve from Ukrainian drone attacks this week that aim to reduce its oil export capabilities and the benefits Russia is reaping from the soaring oil prices and its now-unsanctioned crude. The ports of Primorsk and Ust-Luga were on fire early on Friday, Bloomberg reports, based on tracking NASA satellite images of the area that show the fires had likely started 3-12 hours before they were detected by NASA's Fire Information…
https://oilprice.com/Latest-Energy-News/World-News/Russias-Baltic-Ports-Burning-Again-as-Ukraine-Drone-Campaign-Enters-Third-Day.html

2026-03-27 14:00:00 UTC

Gulf States Weigh a Difficult Choice as Iran War Escalates
Caught in the crossfire of the United States and Israel's war with Iran, America's allies in the Persian Gulf face a stark choice: maintain their defensive posture or join the fight against the Islamic Republic. Iran has fired thousands of drones and missiles at US military and diplomatic facilities and damaged key energy infrastructure in Saudi Arabia, the United Arab Emirates (UAE), Qatar, Bahrain, and Kuwait since the war began on February 28. By choking off the Strait of Hormuz, a major artery for global oil and gas supplies, Tehran has also…
https://oilprice.com/Energy/Energy-General/Gulf-States-Weigh-a-Difficult-Choice-as-Iran-War-Escalates.html

2026-03-27 12:30:00 UTC

Oil Traders Caught Between Diplomacy and Disruption Risk
Nearby WTI crude oil spent the week ending March 27 in a trader’s market, with headlines on U.S.-Iran diplomacy driving sharp intraday swings and keeping risk premium firmly tied to geopolitics. As of late Thursday, nearby WTI was trading at $94.30, down $3.93, or 4.00%, for the week. That weekly loss, however, hides the real story. Price action was violent in both directions as traders tried to price the odds of a ceasefire against the reality that the Strait of Hormuz remains the key chokepoint in the global oil system. Reuters reported…
https://oilprice.com/Energy/Energy-General/Oil-Traders-Caught-Between-Diplomacy-and-Disruption-Risk.html

2026-03-27 12:30:00 UTC

Governments Tap Oil Reserves as Iran War Strains Supply
Politics, Geopolitics & Conflict Governments moved again this week to release and build oil reserves as the supply shock from the Iran war deepened and the Strait of Hormuz remained constrained. Japan began releasing about one month of state-held crude, adding to earlier draws from private stockpiles, while the United States is already in the middle of one of its largest-ever Strategic Petroleum Reserve releases to contain price spikes. At the global level, the International Energy Agency confirmed that more than 400 million barrels are being…
https://oilprice.com/Energy/Energy-General/Governments-Tap-Oil-Reserves-as-Iran-War-Strains-Supply.html

2026-03-27 12:30:00 UTC

Will the U.S. Seize Kharg Island?
If Trump’s push for a negotiated end to the war with Iran fails, there are few options that deliver immediate economic impact without expanding the fight inland. Seizing Kharg Island, Iran’s main offshore oil export terminal, is one of them. Trump has now paused strikes on Iran’s energy infrastructure twice, to April 6, claiming it is intended as a window for negotiations that Tehran requested. He’s afraid to give away this leverage right now. At the same time, indirect communication is now confirmed, with Pakistan relaying…
https://oilprice.com/Geopolitics/Africa/Will-the-US-Seize-Kharg-Island.html

2026-03-27 12:29:00 UTC

Soaring Prices Set to Crash China’s LNG Imports to 8-Year Low
Surging LNG prices amid the war in the Middle East are set to lead to the lowest monthly LNG imports into China in eight years as Qatari and UAE supply is off the market and Chinese buyers look to raise supply from domestic gas production and pipeline deliveries. China is on track to import about 3.7 million tons of LNG in March, per tanker-tracking data by Kpler cited by Bloomberg. That would be the lowest monthly import level in the world’s top LNG importer since the spring of 2018, as well as a 25% slump compared to March 2025, according…
https://oilprice.com/Latest-Energy-News/World-News/Soaring-Prices-Set-to-Crash-Chinas-LNG-Imports-to-8-Year-Low.html

2026-03-27 09:30:00 UTC

Cyclone Causes Outages at Australia’s Top LNG Projects
A cyclone has disrupted operations at a total of three LNG facilities in Australia, including Chevron’s Gorgon and Wheatstone, worsening an increasingly severe global LNG supply crunch. Santos was the first to report a shutdown at its Barossa gas field, which feeds the Darwin LNG terminal, earlier this week as a tropical cyclone barreled towards Australia. Chevron reported the outages at Gorgon and Wheatstone earlier today, as quoted by Reuters, with a spokesperson saying that “We will resume full production at both facilities once…
https://oilprice.com/Latest-Energy-News/World-News/Cyclone-Causes-Outages-at-Australias-Top-LNG-Projects.html

2026-03-27 08:00:00 UTC

Japan Considers Switch From LNG to Coal
Japan is considering ramping up coal-fired power generation amid a liquefied natural gas crunch that has led to significantly higher prices. Per a proposal drafted by the economy ministry, the 50% utilization rate cap on coal-fired power plants could be removed in the new fiscal year that begins in April, Reuters reported, adding that this could reduce consumption of LNG by half a million tons annually. For context, Japan imports around 4 million tons of liquefied gas annually from the Middle East. This also happens to be the amount of LNG that…
https://oilprice.com/Latest-Energy-News/World-News/Japan-Considers-Switch-From-LNG-to-Coal.html

2026-03-27 06:41:59 UTC

Oil Markets Price In Peace, but the Upside Risk Remains
Crude oil prices were set for a sharp decline this week despite ongoing hostilities in the Middle East, as traders pinned their hopes on President Trump’s statements suggesting the war would end soon. Brent crude was trading at $107.98 per barrel at the time of writing, and West Texas Intermediate was changing hands for $94.12 per barrel. For Brent, the decline would be from $111 on Monday, and for WTI, the dip is from over $98 per barrel. Still, both benchmarks are considerably higher than they were at the start of the year, and chances…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Markets-Price-In-Peace-but-the-Upside-Risk-Remains.html

2026-03-27 00:00:00 UTC

StanChart: Europe’s Gas Prices Could Spike Above $90/MWh By The Summer
European natural gas futures climbed toward €55/MWh on Thursday, snapping a four-day losing streak due to uncertainty over a Middle East ceasefire and ongoing threats to energy infrastructure. Initial hopes for a Middle East ceasefire quickly faded after Iran rejected Washington’s 15-point peace proposal and outlined its own conditions instead. Damage to Gulf energy infrastructure has been extensive, with approximately 40 energy assets across the Gulf having been attacked. The effective closure of the Strait of Hormuz has forced rerouting…
https://oilprice.com/Energy/Natural-Gas/StanChart-Europes-Gas-Prices-Could-Spike-Above-90MWh-By-The-Summer.html

2026-03-26 22:00:00 UTC

War Could Soon Force Oil Prices To Catch Up with the Massive Supply Loss
The oil market may be sleepwalking into a significant move higher if the Strait of Hormuz remains blocked beyond March. The massive loss of supply from the Middle East has already reverberated through Asia, which depends on oil and gas from the Gulf and which is already rationing fuel, banning exports, and paying hefty premiums for any crude that could replace the sour Middle Eastern grades that are trapped by the de facto closed Strait of Hormuz. Oil traders and speculators – those who haven’t fled yet the extremely volatile…
https://oilprice.com/Energy/Oil-Prices/War-Could-Soon-Force-Oil-Prices-To-Catch-Up-with-the-Massive-Supply-Loss.html

2026-03-26 21:00:00 UTC

The Economic Stakes of a Large-Scale Attack on the National Power Grid
The United States energy grid is in an extremely vulnerable position. Aging and underfunded, the grid is already being stressed to its limits by skyrocketing energy demand on the part of data centers as well as increasingly complicated energy flows introduced by solar and wind power. Building and maintaining a resilient energy grid will require a huge investment into expanding, reinforcing, and updating the grid – but in the meantime, all that expansion leaves the United States extremely vulnerable to cyberattack, according to security experts.…
https://oilprice.com/Energy/Energy-General/The-Economic-Stakes-of-a-Large-Scale-Attack-on-the-National-Power-Grid.html

2026-03-26 20:00:00 UTC

North Sea Oil Fight Escalates as Starmer Cites Legal Limits
Sir Keir Starmer has said he doesn’t hold legal powers to approve fresh exploration of North Sea oil and gas fields, with the decision falling in the hands of net zero secretary Ed Miliband. Starmer said current legislation determined that a quasi-judicial decision relating to cases for more gas extraction at Shell’s Jackdaw site and Equinor’s Rosebank oil field was left to Miliband. The Prime Minister reiterated the government’s commitment to expanding renewable energy. He said the introduction of fresh legislation would…
https://oilprice.com/Energy/Energy-General/North-Sea-Oil-Fight-Escalates-as-Starmer-Cites-Legal-Limits.html

2026-03-26 19:00:00 UTC

U.S. Security Guarantees Under Scrutiny in Gulf States
The Arab states of the Persian Gulf have suffered major economic and security costs in the wake of the U.S./Israeli attack on Iran. Iranian missile and drone retaliation hit airports, ports, and energy infrastructure, disrupting aviation, trade, tourism, and hydrocarbon exports, and damaging the Gulf’s reputation as a stable business hub. Attacks on shipping and energy facilities, such as the disruption at Fujairah port and the Shah gas field in the United Arab Emirates (UAE), show how quickly a U.S./Israel war on Iran can spill over onto…
https://oilprice.com/Geopolitics/Middle-East/US-Security-Guarantees-Under-Scrutiny-in-Gulf-States.html

2026-03-26 18:00:00 UTC

Iran Fortifies Oil Lifeline on Kharg Island Ahead of Potential U.S. Move
Iran has recently bolstered its defenses around Kharg Island, anticipating a possible US move to seize the key oil export hub, CNN reported this week. The island is vital to Iran’s economy, handling roughly 90% of its crude shipments, and has become a focal point in escalating tensions. The Trump administration has explored the option of sending US forces to take control of the island as leverage to pressure Iran into reopening the Strait of Hormuz. But military officials caution that such an operation would carry serious risks. Iran…
https://oilprice.com/Energy/Energy-General/Iran-Fortifies-Oil-Lifeline-on-Kharg-Island-Ahead-of-Potential-US-Move.html

2026-03-26 17:30:00 UTC

Iran’s Gift To the World: 10 Oil Tankers Through Strait of Hormuz
President Donald Trump said Thursday that Iran allowed 10 oil tankers to transit the Strait of Hormuz, describing the move as a “present” and a sign of progress in ongoing negotiations. The comment, made during a Cabinet meeting, offers the clearest indication yet of what the administration had been hinting at earlier this week—some limited easing at the world’s most critical oil chokepoint. The details are scant. The White House has not confirmed specifics on the vessels, their cargo, or whether additional transits are…
https://oilprice.com/Latest-Energy-News/World-News/Irans-Gift-To-the-World-10-Oil-Tankers-Through-Strait-of-Hormuz.html

2026-03-26 16:00:00 UTC

Iran Defiant as U.S. Pushes Deal to End Expanding Conflict
As the uncertainty surrounding indirect negotiations between Washington and Tehran intensifies, air strikes on Iran, Israel, and surrounding states also continued -- “business as usual,” as one Israeli military official called it on March 25. Meanwhile, the Pentagon, while not acknowledging media reports of shortages, said it had struck deals with several US defense contractors to bolster stocks of munitions, including parts for the Terminal High Altitude Area Defense (THAAD) interceptors being widely used in the Middle East war. It…
https://oilprice.com/Energy/Energy-General/Iran-Defiant-as-US-Pushes-Deal-to-End-Expanding-Conflict.html

2026-03-26 15:30:00 UTC

Ukraine Knocks Out 40% of Russia's Oil Export Capacity in Baltic Drone Strike
Russia is scrambling to reroute oil flows after a fresh wave of attacks knocked out key Baltic export infrastructure—just as maritime risks are already piling up elsewhere. According to Reuters, citing Interfax, pipeline operator Transneft is attempting to redirect crude volumes away from ports hit by Ukrainian drone strikes, including Primorsk and Ust-Luga—two of Russia’s most critical export hubs. Reuters calculations suggest as much as 40% of Russia’s oil export capacity is currently offline, factoring in port outages,…
https://oilprice.com/Latest-Energy-News/World-News/Ukraine-Knocks-Out-40-of-Russias-Oil-Export-Capacity-in-Baltic-Drone-Strike.html

2026-03-26 15:00:00 UTC

Europe Faces Energy Scarcity If War Drags Into Summer
Despite headlines saying that energy shortages could hit Europe by April, in reality, the continent has enough natural gas, renewables and coal to last it until summer, when energy demand picks up after a home heating reduction in spring due to warmer temperatures.The spring also coincides with an increase in daylight hours, meaning more solar power generation. The combination typically loosens the European power market, which is good news for Europe, as the war with Iran has significantly bumped up crude oil and natural gas prices. The findings…
https://oilprice.com/Energy/Energy-General/Europe-Faces-Energy-Scarcity-If-War-Drags-Into-Summer.html

2026-03-26 14:30:00 UTC

Iran Earning $139 Million a Day From Oil as Hormuz Crisis Locks Out Rivals
Iran’s oil exports have not collapsed and are fetching much higher prices than before the war, handing Tehran handsome extra revenues from its crude, which is the only one unimpeded from transiting the Strait of Hormuz. Unlike all other Gulf producers, Iran is passing its oil through the Strait of Hormuz and its export volumes remain resilient. Steady volumes and higher prices have been bringing millions of dollars of additional oil revenues for the Islamic Republic since the war began, as oil prices jumped and discounts for Iranian barrels…
https://oilprice.com/Latest-Energy-News/World-News/Iran-Earning-139-Million-a-Day-From-Oil-as-Hormuz-Crisis-Locks-Out-Rivals.html

2026-03-26 14:00:00 UTC

Why Did Gas Prices Jump So High So Fast?
Gasoline prices continue to surge. Drivers saw increases of roughly 50 cents per gallon almost overnight following the outbreak of hostilities with Iran. According to AAA, the national average price of gasoline has climbed by nearly $1.00 per gallon over the past month—one of the fastest increases in decades. It feels like a ripoff, and for many Americans, the same questions come up every time. If the United States is the world’s largest oil producer—in fact, if we are energy independent—then why are we still at the mercy…
https://oilprice.com/Energy/Energy-General/Why-Did-Gas-Prices-Jump-So-High-So-Fast.html

2026-03-26 12:30:00 UTC

Barclays: Prolonged Hormuz Blockage Could Wipe Out 14 Million Bpd of Oil Supply
The global oil market could lose up to 14 million barrels per day (bpd) of supply if the blockage at the Strait of Hormuz extends for more weeks, according to Barclays. A prolonged disruption at the world's most vital oil chokepoint is set to lead to 13-14 million bpd of supply losses—an immense shock, the UK-based investment bank said in a note on Thursday, as reported by Reuters. However, both the magnitude of the supply loss and the duration of the Hormuz closure are highly uncertain, Barclays analysts noted. “Notwithstanding uncertainty…
https://oilprice.com/Latest-Energy-News/World-News/Barclays-Prolonged-Hormuz-Blockage-Could-Wipe-Out-14-Million-Bpd-of-Oil-Supply.html

2026-03-26 10:30:00 UTC

Australia Delays Its Gas Crunch
Australia’s natural gas supply outlook has improved in recent months as near-term supply has improved, pushing back the expectation of extreme?peak-day?shortfalls in southern Australia to 2030, a year later than previously forecast, the Australian Energy Market Operator (AEMO) said on Thursday. AEMO’s latest gas adequacy outlook shows improved near-term supply conditions, thanks to increased?peak-day?gas supply, new infrastructure investment, and reduced consumption forecasts, according to the operator’s latest gas adequacy outlook.…
https://oilprice.com/Latest-Energy-News/World-News/Australia-Delays-Its-Gas-Crunch.html

2026-03-26 09:15:00 UTC

Saudi Oil Exports to China and India Set to Fall Amid War Disruptions
Saudi crude oil exports to its two biggest clients, India and China, are on course to decline in April because of the production disruptions in the Middle East, Bloomberg reported earlier today, citing traders. The traders said Saudi oil exports to the Chinese market were seen at some 40 million barrels, down from 48 million barrels shipped to the world’s top importer in February. Shipments to India were seen at around 23 million barrels, the Bloomberg sources said. That would be down from between 25 and 28 million barrels in February, based…
https://oilprice.com/Latest-Energy-News/World-News/Saudi-Oil-Exports-to-China-and-India-Set-to-Fall-Amid-War-Disruptions.html

2026-03-26 06:54:00 UTC

Venezuela Oil Production Climbs to 1.1 Million Bpd
Venezuela produced an average of 1.1 million barrels of crude daily this month, up from 942,000 barrels daily in February, according to a PDVSA presentation, as cited by Reuters. The turnaround followed the selective lifting of sanctions by the United States after it removed President Nicolas Maduro from power and took him to the U.S. to stand trial for drug trafficking, while effectively taking over Venezuela’s oil industry. The turnaround will take a while, however. In the 1990s, Venezuela pumped around 3 million barrels of crude daily,…
https://oilprice.com/Latest-Energy-News/World-News/Venezuela-Oil-Production-Climbs-to-11-Million-Bpd.html

2026-03-26 01:00:00 UTC

Is This The No.1 Way To Play the Rare Earth Crisis?
In Euclid, Ohio, just outside Cleveland, sits a facility that most people would drive right past without a second look. But inside that facility, work is being done that could reshape America’s position in one of the most critical supply chain battles of our time. The company behind this work is REalloys (NASDAQ: ALOY), and they’re turning rare earth oxides into the defense-grade metals and alloys that go into the permanent magnets found in everything from fighter jets to missile guidance systems. REalloys doesn't have the name recognition…
https://oilprice.com/Energy/Energy-General/Is-This-The-No1-Way-To-Play-the-Rare-Earth-Crisis.html

2026-03-26 00:00:00 UTC

Alberta Courts Asian Capital for 1M bpd Pipeline to Break U.S. Dependence
Asian and Middle Eastern capital is lining up behind Alberta’s latest export push. Premier Danielle Smith says investors, including sovereign wealth funds, are prepared to take 15% to 30% minority stakes in a proposed 1-million-barrel-per-day pipeline aimed at Asian markets. The plan centers on moving oil sands crude to the northwest coast of British Columbia, with Prince Rupert now favored over Kitimat as the terminal site. The objective is straightforward: break Canada’s near-total dependence on the U.S., which still absorbs roughly…
https://oilprice.com/Energy/Crude-Oil/Alberta-Courts-Asian-Capital-for-1M-bpd-Pipeline-to-Break-US-Dependence.html

2026-03-25 22:00:00 UTC

Middle East War Could Push West Canada’s LNG Projects Forward
The war in the Middle East and the halt of about 20% of global LNG trade flows are strengthening the case for increased LNG exports out of Western Canada. The political stability and the proximity to Asian markets make Canada’s Pacific Coast the perfect source of additional LNG supply to ease the strain on gas markets, which suddenly flipped from an expected glut for the rest of the decade to a major supply shortage that would take years to overcome. Canada would have been ideally positioned to fill in the gap. If only it had more than one…
https://oilprice.com/Energy/Natural-Gas/Middle-East-War-Could-Push-West-Canadas-LNG-Projects-Forward.html

2026-03-25 20:00:00 UTC

Gas Crisis Dwarfs Oil Shock as LNG Supply Breaks
Until less than a month ago, most energy analysts were warning about a glut in oil and a likely glut in LNG as new capacity came online in the United States. Glut was the word that described global energy market fundamentals. Then the U.S. and Israeli strikes on Iran on February 28 changed everything, and now everyone is warning of shortages. Oil shortages are already emerging in some parts of the world, but the bigger and worse shortage is in natural gas. QatarEnergy yesterday declared force majeure on LNG contracts with buyers in Italy, China,…
https://oilprice.com/Energy/Natural-Gas/Gas-Crisis-Dwarfs-Oil-Shock-as-LNG-Supply-Breaks.html

2026-03-25 19:00:00 UTC

The Grid Is Losing Its Biggest New Customer
The New York Times story headlined, “Why Tech Giants are Ditching the Grid.” Perhaps it should have had a subtitle, “ Why that is so important to everyone else who takes electricity.” We have argued that AI centers should be kept off the grid because they will put burdens on all other grid customers, thereby socializing the costs to the benefit of organizations that do not need a subsidy from everybody else. Some might object, pointing out that AI centers often will locate their own power plants next to the AI center,…
https://oilprice.com/Energy/Energy-General/The-Grid-Is-Losing-Its-Biggest-New-Customer.html

2026-03-25 18:00:00 UTC

India Races to Secure Central Asia as Pakistan Expands Its Reach
In the wake of recent efforts by Central Asian leaders to open new trade routes to Pakistan, India is stepping up its diplomatic engagement with regional governments. Trade volume between India and the five Central Asian states totaled close to $2.5 billion in 2025, roughly triple that of Pakistan. But regional leaders have articulated plans in recent months to rapidly increase trade with Islamabad. That seems to have provided impetus for a flurry of Indian diplomatic activity. Over the past 10 days, Indian officials have held talks with officials…
https://oilprice.com/Energy/Energy-General/India-Races-to-Secure-Central-Asia-as-Pakistan-Expands-Its-Reach.html

2026-03-25 17:30:00 UTC

China's Top Shipper Resumes Middle East Trips Amid Iran Ceasefire Talks
COSCO Shipping Lines, China's largest shipping company, has officially resumed new booking services for container shipments from the Far East to several key Middle Eastern destinations, with the United States and Iran currently engaged in ceasefire talks, despite statements by Tehran that the U.S. military is "negotiating with itself”. COSCO has reinstated bookings for standard general cargo containers to Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Kuwait and Iraq after declaring to the International Maritime Organization (IMO)…
https://oilprice.com/Latest-Energy-News/World-News/Chinas-Top-Shipper-Resumes-Middle-East-Trips-Amid-Iran-Ceasefire-Talks.html

2026-03-25 17:00:00 UTC

Beyond Oil: The Global Supply Chains Broken by the Iran Conflict
Since the start of the Middle Eastern conflict nearly a month ago, analysts have kept their eyes glued to the latest energy market data. On 2 March, Iran declared the Strait of Hormuz, a waterway which is responsible for shipping roughly one fifth of the world’s oil and gas, was “closed” and oil prices have slipped out of control ever since. Oil prices surged to over $110 (£82.14) per barrel, leading the US to launch an operation to reopen the strait, deploying jets and helicopters to the region. But while the market tracks…
https://oilprice.com/Energy/Energy-General/Beyond-Oil-The-Global-Supply-Chains-Broken-by-the-Iran-Conflict.html

2026-03-25 16:00:00 UTC

Crude Drops 4% on Iran News Just as Dallas Fed Signals Oil Rebound
A sharp rebound in U.S. oilfield activity is colliding with a sudden geopolitical shock, as the latest Dallas Fed Energy Survey shows energy firms swinging back into expansion just as crude prices plunge roughly 4% on headlines that President Donald Trump has floated a 15-point Iran peace plan, abruptly stripping out part of the war-driven risk premium that had lifted prices more than 30% since late February.Brent crude for May delivery fell 3.9% to trade at $100.40 per barrel at 11.20 am ET while the corresponding WTI crude contract declined 3.77%…
https://oilprice.com/Energy/Energy-General/Crude-Drops-4-on-Iran-News-Just-as-Dallas-Fed-Signals-Oil-Rebound.html

2026-03-25 15:30:00 UTC

Russia's Vital Baltic Oil Hubs Crippled by Ukrainian Drone Campaign
A major fire broke out at the Ust-Luga oil port in Russia’s Leningrad region following a large-scale Ukrainian drone attack overnight on March 25, the second critical Baltic Sea export hub to be set ablaze this week following a similar strike on the nearby Primorsk port on Monday. Ust-Luga port, one of Russia's largest multipurpose outlets on the Baltic Sea with capacity to handle approximately 700,000 barrels of oil per day, was sealed off after several oil storage reservoirs were set on fire. Russia’s Defense Ministry claimed…
https://oilprice.com/Latest-Energy-News/World-News/Russias-Vital-Baltic-Oil-Hubs-Crippled-by-Ukrainian-Drone-Campaign.html

2026-03-25 14:41:31 UTC

US Oil Inventories Continue to Climb While Gasoline Inventories Shrink
Crude oil inventories in the United States increased by 6.9 million barrels during the week ending March 20, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 456.2 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 2.3 million barrels in the period.…
https://oilprice.com/Energy/Crude-Oil/US-Oil-Inventories-Continue-to-Climb-While-Gasoline-Inventories-Shrink.html

2026-03-25 14:30:00 UTC

Japan Urges IEA to Prepare for Second Emergency Oil Release
Japan’s Prime Minister Sanae Takaichi on Wednesday asked the head of the International Energy Agency (IEA) to be ready for an additional release of oil stocks from reserves if it is necessary. The IEA two weeks ago launched the biggest coordinated emergency stocks release, of over 400 million barrels, since it was created in the 1970s. As part of this release, the U.S. has moved to release 172.2 million barrels from the U.S. Strategic Petroleum Reserve (SPR), and Japan early this week began preparations to start releasing crude…
https://oilprice.com/Latest-Energy-News/World-News/Japan-Urges-IEA-to-Prepare-for-Second-Emergency-Oil-Release.html

2026-03-25 14:00:00 UTC

Will the Iran War Revive Russia’s Power of Siberia 2 Pipeline?
The war in Iran and the resulting energy shock could revive China’s interest in a long-stalled pipeline to import Russian gas, analysts told RFE/RL, potentially reshaping Beijing’s energy strategy. As countries are facing an energy shock after Iran shut the Strait of Hormuz, halting oil and liquefied natural gas (LNG) flows from the Gulf, Beijing is grappling with the potential loss of discounted Iranian oil and the risk of prolonged market disruption, prompting a rethink of its reliance on a chokepoint that carries roughly 40 percent…
https://oilprice.com/Energy/Energy-General/Will-the-Iran-War-Revive-Russias-Power-of-Siberia-2-Pipeline.html

2026-03-25 13:30:00 UTC

U.S. Waivers Spur Russian Oil Sales But Interest in Iran’s Crude Remains Low
The U.S. waivers on the purchase of Russian and Iranian crude on tankers have been a mixed bag of success in boosting oil supply in Asia. While refiners, especially in India, are snapping up Russian cargoes, state-controlled Indian and Chinese firms are reluctant to wade into trade with Iranian barrels. Uncertainties about shipping, insurance, payments, and currencies in buying Iranian oil have deterred refiners from looking to buy Tehran’s crude, which the U.S. ‘unsanctioned’ last Friday in an attempt to bring down…
https://oilprice.com/Latest-Energy-News/World-News/US-Waivers-Spur-Russian-Oil-Sales-But-Interest-in-Irans-Crude-Remains-Low.html

2026-03-25 11:30:00 UTC

Naphtha Shortage Forces Japanese Petrochemical Producers to Curb Output
Japan’s LNG imports are not much affected by the supply shock in the Middle East, but Japanese industrial natural gas use could drop anyway if petrochemicals plants continue to see naphtha supplies constrained, executives at the biggest Japanese gas providers said on Wednesday. “As we have a number of customers who use naphtha or other petroleum products in their manufacturing operations, any move to scale back their activities or operations could have an impact on our gas sales,” Shinichi Sasayama, president of Tokyo Gas,…
https://oilprice.com/Latest-Energy-News/World-News/Naphtha-Shortage-Forces-Japanese-Petrochemical-Producers-to-Curb-Output.html

2026-03-25 09:30:00 UTC

India Targets Import Cuts With Historic Oil and Gas Drilling Campaign
India’s ONGC plans to invest between $18 and $20 billion on new oil and gas drilling to strengthen the country’s energy security, the Economic Times has reported, citing unnamed sources. The money will be used to hire drilling rigs for what is seen as the biggest drilling campaign ever, the report noted, adding that the tender for the rigs was announced last month. One of the sources, an industry executive, said ONGC was looking to contract drillships and submersible rigs for up to five years. The Indian government has put concerted…
https://oilprice.com/Latest-Energy-News/World-News/India-Targets-Import-Cuts-With-Historic-Oil-and-Gas-Drilling-Campaign.html

2026-03-25 08:08:27 UTC

Europe Faces Looming Fuel Shortages as Shell Warns of April Crunch
Europe could experience energy shortages before the end of April, the chief executive of Shell has warned. Jet fuel supply has already tightened, and a diesel squeeze could be next, with gasoline supply tightening as well, as the continent nears peak fuel demand season in the summer, Wael Sawan said, as quoted by Reuters. “South Asia was first to get that brunt. That's moved to Southeast Asia, Northeast Asia and then more so into Europe as we get into April,” Sawan said, speaking at the CERAWeek conference in Texas. The executive noted…
https://oilprice.com/Latest-Energy-News/World-News/Europe-Faces-Looming-Fuel-Shortages-as-Shell-Warns-of-April-Crunch.html

2026-03-25 06:20:27 UTC

India Snaps Up 60 Million Barrels of Russian Crude for April Delivery
Indian refiners have struck deals for the purchase of some 60 million barrels of Russian crude oil, to be delivered in April, Bloomberg reported today, citing unnamed sources familiar with the developments. The cargoes were snapped at premiums of between $5 and $15 per barrel, the sources noted, suggesting the thirst for Russian oil in the world’s third-largest importer remains strong despite the swing from heavy discounts to a premium to the global benchmark. Bloomberg, for its part, noted that the contracted volumes, while comparable to…
https://oilprice.com/Latest-Energy-News/World-News/India-Snaps-Up-60-Million-Barrels-of-Russian-Crude-for-April-Delivery.html

2026-03-25 01:00:00 UTC

3 Defense Stocks To Replenish America’s Depleting Arsenal
As conflict in the Middle East exposes the fragility of global logistics, a trio of American industrial leaders - REalloys, Lockheed Martin, and Northrop Grumman - is executing a high-stakes mission to reclaim "supply sovereignty" from China. The year 2026 has brought a stark realization to the Pentagon: modern warfare is only as resilient as its sub-component supply chain. As U.S. forces conduct precision operations in Iran, the "burn rate" of advanced munitions - from Tomahawk missiles to GBU-series smart bombs - has reached levels not seen since…
https://oilprice.com/Energy/Energy-General/3-Defense-Stocks-To-Replenish-Americas-Depleting-Arsenal.html

2026-03-25 00:37:00 UTC

Oil Prices Tumble Back Below $100 on Ceasefire Optimism
Oil prices fell sharply in early asian trade on Wednesday, with both major benchmarks dropping more than 5% as traders reacted to signs of potential de-escalation in the Middle East conflict as well as a crude inventory build in the U.S. At the time of writing, WTI crude was trading at $87.51, down 5.24%, while Brent crude fell below the psychologically important $100 to $98.03, down 6.08%. The selloff follows a volatile 48 hours in oil markets, where prices had surged following President Trump's threat to blow up Iranian power plants and then…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Drop-Below-100-on-Ceasefire-Optimism.html

2026-03-24 22:00:00 UTC

Saudi Arabia’s Red Sea Export Route Is No Escape from Risk
Middle Eastern oil producers have slashed production by between 7 and 12 million barrels daily since the first strikes that the U.S. and Israel launched on Iran on February 28. Exports have been paralysed almost completely, and Iran is charging $2 million for every vessel it lets pass through the Strait of Hormuz. Saudi Arabia, however, has an alternative: a pipeline that was built for just such a situation. The East-West pipeline leads to Saudi Arabia’s Red Sea port city of Yanbu. The pipeline is 1,200 km long, and it was initially built…
https://oilprice.com/Energy/Crude-Oil/Saudi-Arabias-Red-Sea-Export-Route-Is-No-Escape-from-Risk.html

2026-03-24 21:00:00 UTC

Resource Wars Are Here and Oil Is the First Casualty
In just over a year, the world saw several instances of a choked supply of commodities indispensable for today’s economies and military capabilities. From China’s restrictions on rare earths and critical minerals supply to the de facto closure of the Strait of Hormuz, policymakers and analysts began to realize that the control of oil, critical minerals, rare earths, and magnets is as important as building and maintaining stockpiles of advanced weapons. It also became clear that without these resources, defense and military capabilities…
https://oilprice.com/Energy/Energy-General/Resource-Wars-Are-Here-and-Oil-Is-the-First-Casualty.html

2026-03-24 20:00:00 UTC

Why Oil Majors Are Quietly Betting Big on Libya Again
It comes to something when Libya looks like a relative beacon of stability compared to key Middle Eastern states, such as Saudi Arabia, the UAE, and Qatar, but here we are, nevertheless. Of course, the recent fire at Libya's largest oil field, Sharara, caused by a pipeline leak, may have been the product of another attack by one of the many warring factions there, so it is not exactly Switzerland in terms of the global peace rankings table. However, Libya’s appeal to international oil companies (IOCs) has been on the rise again since Russia’s…
https://oilprice.com/Energy/Crude-Oil/Why-Oil-Majors-Are-Quietly-Betting-Big-on-Libya-Again.html

2026-03-24 19:00:00 UTC

Europe Sleeps as Global Gas Markets Reach a Boiling Point
While the world’s eyes are fixed on the Iran-Hormuz crisis and the war in Ukraine, a deeper tectonic shift is quietly reshaping the West. The transatlantic alliance is losing its illusions in real time. For decades, Europe viewed this as a partnership; today, it looks more like leverage. Washington’s recent signals are unmistakable: trade support is the price of admission, and US LNG is the tool used to enforce it. This isn't diplomacy—it's hard power in economic form. Yet, leaders in Brussels and The Hague remain dangerously,…
https://oilprice.com/Energy/Natural-Gas/Europe-Sleeps-as-Global-Gas-Markets-Reach-a-Boiling-Point.html

2026-03-24 18:00:00 UTC

Europe’s Air Pollution Crisis Persists Despite Progress on Emissions
Air pollution has become a growing concern around the globe, with several governments now acting to improve air quality. The new European Cancer Code addresses the problem of air pollution directly and suggests that greater action must be taken. However, several EU countries are failing to properly manage air pollution, resulting in a multitude of health conditions and contributing to global warming. A 2025 report from the European Environment Agency (EEA) suggests that, between 2005 and 2023, air pollution in the EU contributed to thousands of…
https://oilprice.com/Energy/Energy-General/Europes-Air-Pollution-Crisis-Persists-Despite-Progress-on-Emissions.html

2026-03-24 17:19:53 UTC

Saudi Pushes White House to Prolong Iran War as Brent Tops $100
Saudi Arabia is publicly calling for regional stability. Peace, even. But privately, the Kingdom is pushing the White House to press on with its campaign against Iran, with oil prices comfortably above $100—a move that could very well trigger oil demand destruction. According to multiple reports out of Washington on March 24, Crown Prince Mohammed bin Salman has been urging the Trump administration to stay the course in its campaign against Iran, framing the current conflict as a rare window to reshape the regional balance of power, worried,…
https://oilprice.com/Latest-Energy-News/World-News/Saudi-Pushes-White-House-to-Prolong-Iran-War-as-Brent-Tops-100.html

2026-03-24 17:00:00 UTC

Robotaxi Price War Threatens London’s Taxi Industry
London’s cabbies could be priced out of the market unless regulators step in to curb “predatory pricing” from deep-pocketed tech giants, the boss of Addison Lee has warned. Chief executive Liam Griffin said companies like Waymo, Wayve, or Tesla risk undercutting traditional operators by subsidising fares to win market share, echoing concerns from the early days of Uber’s expansion. “We do feel that there is a danger that the big players can come in and ride roughshod over the existing industry”, Griffin said.…
https://oilprice.com/Energy/Energy-General/Robotaxi-Price-War-Threatens-Londons-Taxi-Industry.html

2026-03-24 16:30:00 UTC

Tanker Rates for Red Sea-Loading Saudi Crude Plunge
Freight rates for tankers to ship Saudi crude from the Yanbu port on the Red Sea to Asia have slumped from the highs seen earlier this month, as more vessels are diverting to the Saudi export port that bypasses the Strait of Hormuz. Tanker rates on the Yanbu-Asia route have slumped from a high of over $450,000 per day in early March to about $200,000 per day for voyage agreed this week on a 2011-built very large crude carrier (VLCC), according to sources familiar with the deals and brokerage reports cited by Bloomberg. With the Persian Gulf-Asia…
https://oilprice.com/Latest-Energy-News/World-News/Tanker-Rates-for-Red-Sea-Loading-Saudi-Crude-Plunge.html

2026-03-24 15:30:00 UTC

White House Dismisses Insider Trading Claims in Oil Market
Some trading entities profited millions of U.S. dollars from trades in oil futures contracts on Monday, just 15 minutes before U.S. President Donald Trump posted about “very good and productive conversations” with Iran, which sparked a relief rally and made market observers question the suspiciously well-timed oil trades. Oil futures plunged by 10% on Monday morning ET after President Trump said he would postpone expected strikes on Iran’s power plants and energy infrastructure for five days, pending negotiations that would…
https://oilprice.com/Latest-Energy-News/World-News/White-House-Dismisses-Insider-Trading-Claims-in-Oil-Market.html

2026-03-24 15:12:53 UTC

Markets Whiplashed by Trump’s Iran Rhetoric
Oil markets are turning chaotic as conflicting signals from Washington blur reality—talks with Iran may or may not be happening, threats shift by the day, and yet crude keeps climbing amid escalating tensions. Is the White House Trading Its Own Announcements? - A move widely interpreted as another edition of a classic Trump ‘TACO’ move, the White House has announced a 5-day postponement to US attacks on Iran power and energy infrastructure, citing ‘very good and productive conversations’. - Whilst…
https://oilprice.com/Energy/Crude-Oil/Markets-Whiplashed-by-Trumps-Iran-Rhetoric.html

2026-03-24 14:56:44 UTC

5 Stocks to Buy Now That The Strait of Hormuz is Closed
On February 28, U.S. and Israeli forces launched Operation Epic Fury, killing Iran's Supreme Leader and triggering a military response that has effectively shut down the world's most critical energy corridor. The Strait of Hormuz, through which roughly 20% of global oil supply and 30% of seaborne LNG flows every single day, is, for all practical purposes, closed. Brent crude is now sitting above $100… Qatar declared force majeure on its LNG exports, wiping out roughly 20% of global LNG supply in a single announcement… …
https://oilprice.com/Energy/Energy-General/5-Stocks-to-Buy-Now-That-The-Strait-of-Hormuz-is-Closed.html

2026-03-24 14:30:00 UTC

Foreign Funds Ditch $50 Billion in Asian Stocks as Oil Shock Dims Prospects
Foreign investors are pulling the most money out of Asia’s key equity markets since the 2008 financial crisis as the oil shock from the war is ripping through Asian energy supply and economic prospects. Foreign investors in the key Asian markets have sold so far in March a net $50.45 billion worth of equities in South Korea, Taiwan, Thailand, India, Indonesia, Vietnam, and the Philippines, according to data from LSEG cited by Reuters. The sum is the highest selloff of Asian equities on these exchanges in one month since…
https://oilprice.com/Latest-Energy-News/World-News/Foreign-Funds-Ditch-50-Billion-in-Asian-Stocks-as-Oil-Shock-Dims-Prospects.html

2026-03-24 14:00:00 UTC

China Warns of “Uncontrollable” Escalation as Hormuz Crisis Deepens
China has warned of an "uncontrollable situation" amid the escalating Strait of Hormuz crisis and urged all sides to halt military operations as the war involving Iran enters a critical phase and threatens global energy supplies. On March 21, US President Donald Trump issued Tehran a 48-hour ultimatum to lift its partial closure of the Strait of Hormuz, a narrow Gulf passage that carries about 20 percent of global oil and gas supplies, or face potential strikes on its key energy infrastructure.Chinese Foreign Ministry spokesman Lin Jian told reporters…
https://oilprice.com/Geopolitics/Middle-East/China-Warns-of-Uncontrollable-Escalation-as-Hormuz-Crisis-Deepens.html

2026-03-24 13:30:00 UTC

Outage in Australia Adds to Global LNG Crunch
Australian oil and gas producer Santos was forced on Tuesday to shut down its newly-commissioned Barossa LNG plant, temporarily shutting the Darwin LNG export plant just as the global gas markets scramble for supply with the Middle East’s LNG out of the picture. Darwin LNG is now under “temporary shutdown”, necessary to replace equipment on the offshore production vessel at the Barossa project which feeds the export plant, a spokeswoman for Santos told the Australian Financial Review. It was not immediately clear when…
https://oilprice.com/Latest-Energy-News/World-News/Outage-in-Australia-Adds-to-Global-LNG-Crunch.html

2026-03-24 11:31:00 UTC

Indian Refiners Cautious Over Iranian Oil Despite U.S. Waivers
The state refiners in India, the world’s third-largest crude importer, have not shown willingness to purchase Iranian crude that has now been ‘unsanctioned’ by the U.S. for a month, amid concerns about shipping, insurance, and payments, sources with knowledge of the situation told Bloomberg on Tuesday. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Friday issued a general license, which basically authorizes until April 19 imports of Iranian crude loaded on vessels as of March 20. …
https://oilprice.com/Latest-Energy-News/World-News/Indian-Refiners-Cautious-Over-Iranian-Oil-Despite-US-Waivers.html

2026-03-24 09:27:00 UTC

China’s Green Energy Stocks Surge as Middle East War Upends Oil Markets
Shares of Chinese battery makers and green energy manufacturers have jumped since the start of the war in the Middle East as investors bet on higher global demand for renewable energy and electric vehicles, as the conflict traps most of the Middle East’s oil and gas supply at the Strait of Hormuz. Over the past three weeks, domestic energy sources have gained prominence everywhere in the world, which is experiencing the biggest supply disruption in the history of the oil market. The stranding of Qatar’s LNG supply and the damage to…
https://oilprice.com/Latest-Energy-News/World-News/Chinas-Green-Energy-Stocks-Surge-as-Middle-East-War-Upends-Oil-Markets.html

2026-03-24 06:42:56 UTC

Japan Moves to Release Oil Stockpiles as Energy Crisis Deepens
Japan is preparing to start releasing crude oil from stockpiles held jointly by the country and oil producers as well as national stocks, Prime Minister Sanae Takaichi said in an X post. The announcement follows the start of oil releases from private stockpiles earlier in March, with the second release beginning later this month at an unspecified date, and the tapping of national stockpiles starting March 26. “Through these measures, we will respond with all our might to minimize the impact on economic activities,” Takaichi said, noting…
https://oilprice.com/Latest-Energy-News/World-News/Japan-Moves-to-Release-Oil-Stockpiles-as-Energy-Crisis-Deepens.html

2026-03-24 02:24:16 UTC

Oil Prices Spike as Iran Denies U.S. Talks and Traders Refocus on Supply Risk
Oil prices were spiking again in early Asian trade on Tuesday, reversing part of the previous session’s steep losses as Iran denied claims that it had engaged in negotiations with the U.S. At the time of writing, West Texas Intermediate had climbed to $91.54, up 3.87%, while Brent crude had risen 3.43% to $103.40. The rebound follows a dramatic selloff on Monday, when Brent briefly fell below $100 per barrel for the first time since March 11 after President Trump claimed Washington had held “very good and productive” conversations…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Spike-as-Iran-Denies-US-Talks-and-Traders-Refocus-on-Supply-Risk.html

2026-03-24 01:46:00 UTC

Chinese Publication Claims U.S. Has Two Months of Rare Earths Left
The U.S. has already launched hundreds of missiles and precision-guided weapons in the escalating conflict with Iran, an air campaign that has consumed billions of dollars in advanced military hardware in just weeks. But a new warning circulating in Chinese and Western media suggests the materials needed to keep producing those weapons may be running dangerously low. Reports from the South China Morning Post and Reuters indicate Washington could have only weeks or months of certain rare-earth inventories available for defense manufacturing if supply…
https://oilprice.com/Energy/Energy-General/Chinese-Publication-Claims-US-Has-Two-Months-of-Rare-Earths-Left.html

2026-03-24 00:00:00 UTC

Trump’s Iran Pause Triggers Oil Selloff and a Safe-Haven Reset
U.S. President Donald Trump said Monday the White House is in contact with what he described as a “respected” IranianGold Breaks, Bitcoin Rallies as Iran War Scrambles Safe Havens figure and claimed Tehran is now pushing for a deal to end the war as it enters its fourth week. He also extended a deadline for Iran to reopen the Strait of Hormuz, giving it five more days before the U.S. moves ahead with strikes on Iranian power infrastructure. The shift marked a sharp reversal from the weekend, when Washington and Tehran traded threats…
https://oilprice.com/Metals/Gold/Trumps-Iran-Pause-Triggers-Oil-Selloff-and-a-Safe-Haven-Reset.html

2026-03-23 21:00:00 UTC

Ecuador’s Broken Oil Industry Faces Violent Headwinds
The once peaceful South American nation of Ecuador is being rocked by cocaine related violence. Since the 2020 pandemic, the tiny country’s murder rate has spiraled higher, hitting an all-time high of nearly 51 murders per 100,000 people during 2025. The tiny impoverished country of less than 20 million is regularly affected by extreme bloodshed, conflict, and lawlessness despite frequent security crackdowns. The rapid rise of cocaine trafficking and related brutality is sharply impacting government finances and Ecuador’s broken oil…
https://oilprice.com/Energy/Energy-General/Ecuadors-Broken-Oil-Industry-Faces-Violent-Headwinds.html

2026-03-23 20:00:00 UTC

Are Markets Underestimating the Risk of a Prolonged Energy Crisis?
Shortly before the war with Iran began, I wrote that the seeming complacency among government officials and financial market participants was based on two assumptions which I argued were unlikely to turn out to be true: 1) President Donald Trump would make a last-minute deal with the Iranians and declare victory and 2) even if Trump didn't make such a deal, the Iranians would not do all the things which they threatened to do if attacked. Here we are, three weeks into the conflict between the United States, Israel, and Iran. There was, of course,…
https://oilprice.com/Energy/Energy-General/Are-Markets-Underestimating-the-Risk-of-a-Prolonged-Energy-Crisis.html