A new shuttling system is reshaping the Middle East oil market, as producers seek to keep exports flowing despite the escalating regional conflict. The question now is whether this complex, expensive process is a stopgap measure or the global energy market’s new normal.Several miles off Oman's coast, south of the Strait of Hormuz, rows of tankers lie at anchor. Many sit alongside each other, connected by ropes and hoses as they transfer crude from one vessel to another…
Oil fell nearly 4% on Monday as talks between Iranian and Qatari officials on a deal to end the US-Israeli war on Iran raised hopes that Middle East supply disruptions could ease.Iranian negotiators left Doha talks on Sunday, but not due to difficulties in negotiations…
An oil spill from a damaged tanker off the coast of the United Arab Emirates has widened, satellite images showed, triggering more beach closures and raising environmental concerns.Images from the European Union's Copernicus satellite observation…
Oil prices rallied over $2 a barrel on Thursday after more Houthi attacks in Saudi Arabia stoked concerns over a broader escalation of conflict and further disruptions to crude supplies from the world's key exporting region.Brent crude futures LCOc1 climbed$2…
Oil markets initially treated the Iran war as a brief bullish disruption in a long-term bearish trend. But traders are now betting that oil prices will remain elevated through 2028, forcing a rethink of the global inflation outlook.Eight months into the war…
Iran is deploying new tactics to target ships sailing through the Strait of Hormuz as it seeks to keep oil prices high and influence the US midterm elections, two senior Iranian officials told Reuters.Tehran has tried to exert control over the…
Oil prices rose for a second successive session on Tuesday as lingering concern over Middle East supply disruption brought about by the US-Israeli war on Iran outweighed signs of recovering crude exports from the region.Brent crude futures for November LCOc1 rose $1…
Ship-to-ship transfers in the Gulf of Oman for Middle Eastern oil from inside the Strait of Hormuz have reached their limits after Saudi Arabia diverted exports from the Red Sea, adding to shipments from other producers, trade sources and analysts said…
Crude oil flows out of the Strait of Hormuz reached 33.7 million barrels so far in the week starting September 20, preliminary ship-tracking data from Kpler showed on Friday, putting exports roughly on track with the previous week's levels.The traffic comprised 19 tankers…
Oil prices fell to a two-week low on Tuesday as prospects for Gulf supplies improved, with Iran signaling it could reopen the Strait of Hormuz within seven days and Saudi Arabia set to resume exports from its Red Sea port of Yanbu.The Brent crude futures LCOc1 November contract was down $2…
A total of 17 commodity vessels transited the Strait of Hormuz on the weekend, down from 37 a week earlier, shipping data showed on Monday, as tension in the Gulf persisted with the US and Iran in stalemate.Visible traffic through the strait…
Commodity vessel transits through the Strait of Hormuz dwindled to just three ships on Wednesday, down from 12 a day earlier and well below the 10-day average of about 17, preliminary ship-tracking data showed on Thursday.The figures exclude…
Oil prices settled $3 higher on Tuesday after shipping industry sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had canceled some cargo deliveries to European customers, deepening concerns…
Global oil supply and demand will fall further than previously thought this year, the International Energy Agency said on Friday, as a lack of progress in ending the Iran war delays the return of normal Middle East flows into 2027 and sends fuel prices soaring…
The Iran war's redrawing of the global trade map is forcing Gulf nations to retool their investment play book, ploughing capital into infrastructure, from energy pipelines to ports, to weather the fallout from the conflict.The war has highlighted the Gulf's overreliance on the Strait of Hormuz…
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