Petrol Haberleri

Asia is trying to save itself any way it can. With Gulf barrels harder to get, buyers are pulling crude from wherever it is still available – even from as far away as Brazil. The barrels are alike to those stranded by the Strait of Hormuz blockage, Asia’s appetite for them need is soaring. The only

International companies are flocking back to Venezuela, with deals worth billions getting closed under U.S. management of the country’s oil resources. Venezuela’s oil exports hit a seven-year high in March, and this may be just the beginning of a major rebound. Big Oil was quick to signal interest i

The U.S.-Iran war has created a military crisis in the Gulf. But for oil markets, the more dangerous battlefield may now be the futures curve. The first shock was geographic. It appeared on maps, vessel-tracking screens, insurance desks, and refinery procurement calls: the Strait of Hormuz restricte

Canada has recorded its first trade surplus in six months, defying forecasts of a deficit thanks to surging oil and gold prices. Canada’s merchandise trade balance swung to a $1.78 billion surplus in March against expectations of a shortfall of $2.88 billion, with total exports rising 8.5% to $72.8

Iran has cut oil production by roughly 400,000 barrels per day (bpd) as exports stall and storage runs out, according to U.S. Energy Secretary Chris Wright. “It looks like they’ve likely already cut back their production, maybe by 400,000 barrels a day,” Wright said in an interview on Thursday. “The

Canada’s oil sands can grow, but getting the barrels out of the country is a problem. This is a constraint that has defined the sector for years. President Scott Stauth told analysts the industry needs a West Coast export line to unlock meaningful growth. “We need that pipeline to be able to grow oi

Crude Oil markets staged a sharp intraday reversal on Thursday, with WTI futures briefly tagging lows below $90 a barrel before clawing back above $93, while Brent slid toward $95 before recovering to reclaim the $100 handle.

Chinese fuel trader HY Energy is suing U.S. banking giants JP Morgan and Citigroup for blocked payments to a Chinese oil firm a year before the latter was sanctioned by the U.S. Treasury for dealing with Iranian oil, Bloomberg reports. HY Energy, a regional fuel trader in eastern China, alleges in t

Global crude oil and fuel inventories are crashing at a record speed as the supply shock from the Middle East is too big to absorb without stock depletion. While the futures markets trade on sentiment and hopes that a U.S.-Iran deal could soon lead to the reopening of the Strait of Hormuz, the actua

The war in Iran and the subsequent loss of LNG supply from the Middle East are altering the medium-term outlook of global natural gas balances, with tighter markets set to last longer than previously expected, a senior official at the International Energy Agency (IEA) said on Thursday. The Middle Ea

An Iranian energy official just conceded something in a surprise admission that the US naval blockade has begun to bite the Islamic Republic's oil industry. According to new reporting in the NY Times: The blockade has halted Iran’s oil exports, choking off crucial revenues, and the country risks run

The Cabinda oil refinery in Angola, the first that was built in the country since it gained independence from Portugal 50 years ago, has started shipping fuels to the domestic and international markets, in a relief to the fuel supply stress due to the Iran war. Prior to Cabina, Angola had only one o

TD Securities strategist Bart Melek highlights that the Strait of Hormuz disruption has removed 9–10 million bbl/d from the market, keeping Brent near $100/bbl and potentially pushing it above $150/bbl.