Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and the attacks of Iran on Gulf neighbours has caused oil and natural gas production to stop in the Middle East. The Strait of Hormuz is the world's most important oil artery. It handles 20 percent of the global oil and LNG supplies. Saudi Aramco, world's largest oil exporter, warned on Tuesday of "catastrophic" consequences for the global oil market if the Strait does not open.
Qatar is looking to strengthen its security partnership with the US following Iran's attacks
Qatar wants to strengthen its defense partnership with the United States after Iranian air strikes on Qatari territory, said the spokesperson for the Foreign Ministry on Tuesday. Qatar also sees the current deal as a deterrent. Iran launched drone and missile attacks on its oil producing Gulf neighbours following U.S./Israeli strikes which killed the top leaders of Iran. The conflict disrupted oil production in the region, sending oil prices soaring.
VEGOILS - Palm oil drops more than 3%, as crude and rival oils slump
Malaysian palm futures dropped more than 3% on Monday, following declines in rival edible oils traded in Dalian, Chicago and Dalian markets, as well as crude oil. This was a day after they had posted their largest jump in three-years. The benchmark May palm oil contract on Bursa Malaysia's Derivatives exchange fell 139 ringgit or 3.04% to $4,428 ringgit (1,129.59 USD) per metric ton after earlier falling to 4,370 ringgit.
EUROPE GAS - European prices fall in line with crude oil as Middle East hopes for de-escalation are raised
Dutch and British wholesale gasoline prices fell from their 3-year highs in the morning of?Tuesday, mirroring oil market movements after?U.S. Donald Trump claimed that the Middle East conflict would end "soon". Data from Intercontinental Exchange (ICE), showed that the benchmark Dutch front-month contract at the TTF hub had fallen by?7.98 euros to 48.47 euros per megawatt hour(MWh) as of 0852 GMT.
Aramco warns of 'catastrophic' consequences for oil in the Strait of Hormuz if shipping is not resumed
Saudi Arabia's Aramco, the world's largest oil exporter, said on Tuesday there would be "catastrophic" consequences for the oil markets of the world if the Iran War continues to disrupt shipping through the Strait of Hormuz. Aramco CEO Amin Nasser said on a earnings call that the disruption will not only have a drastic impact on the aviation, agricultural, automotive, and other industries but will also have 'dramatic domino effects' on them.
Palm oil falls as crude and rival oils slump
Malaysian palm oil futures declined on Tuesday, following rival edible oils in Dalian and Chicago and crude oil prices. By midday, the benchmark palm oil contract for May delivery at the Bursa Malaysia Derivatives Exchange had fallen 106 ringgit or 2.32% to $4461 ringgit (1,134.83 USD) per metric ton after having dropped to 4,370 rings earlier. A Kuala Lumpur trader stated that "the futures are tracking the performance of Dalian palm oils…
Report: US solar installations will drop by 2025 as a result of Trump's policies.
A study released on Tuesday showed that the U.S. market for solar energy added fewer installations in 2025 than the previous year. This is due to the fact that President Donald 'Trump' scrapped tax breaks and subsidies for renewable energy developers. According to a report by Wood Mackenzie and the Solar Energy Industries Association, 43 gigawatts of new solar capacity was installed in 2018. This compares to 50 GW in 2020.
Bloomberg News reports that oil magnate Sargeant's firm loaded 1 million barrels of oil for China.
North?American Blue Energy is a company that has been backed by the United States. Harry Sargeant III is a renowned energy magnate who has made a decision to export?1,000,000 barrels of?Venezuelan oil for delivery into China. Bloomberg News reported this on Monday, citing an official document. Reports?stated that this may be the first shipment of Venezuelan oil delivered to Asia since the US took control of the nation's oil exports earlier this year.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and Tehran's attacks upon Gulf neighbours has caused oil and gas?exports to be disrupted and production stopped. Sources say that Saudi Aramco, the world's largest oil producer, cut its output Monday. The Strait of Hormuz is the most important oil artery in the world, and it handles 20% of the global oil supply. Two sources reported on Monday that Aramco had begun reducing production at two of its fields.
Iran War threatens to hit global energy markets for a long time
Even if the U.S. and Israel's war against Iran ends soon, consumers and businesses around the world could face weeks or even months of higher fuel costs as suppliers deal with damaged facilities and logistics and increased shipping risks. This outlook is a threat to the global economy and to President Donald Trump's political position as he heads into midterm elections. Voters are concerned about energy costs and do not like foreign involvement.
The Iran War threatens to have a long-lasting impact on global energy markets
Even if the conflict with Iran ends soon, consumers and businesses could face weeks or even months of higher fuel prices. This is because suppliers are dealing with damaged facilities, disrupted logistic, and increased risks in shipping. This outlook is a greater threat to global economic stability and a political vulnerability to U.S. president Donald Trump as we approach the midterms.
Japanese stocks set to drop the most in 11 months this week on Middle East conflict
The Japanese stock market suffered its steepest weekly?drop since almost a full year on Friday as?the Middle East conflict? severely disrupted oil traffic through the Strait of Hormuz. This?crippled supply? and pushed investors away from?risk? to cash. After falling as high as 1.4% in the previous session, the Nikkei Index closed at 55,620.84. The benchmark closed the week down 5.5%…
Source: India wants US marine coverage for Middle East energy cargoes
India and the United States are in discussions to secure marine coverage for vessels that ship oil from the Middle East. New Delhi is seeking to protect buyers from possible supply disruptions due to the Gulf crisis. The official who didn't want to be named said that "so far, we are?comfortable." He added that the oil ministry was in talks with major producers and dealers to secure oil, LPG, and LNG. The U.S.
Oil companies reject Trump Administration's Alaska Offshore Auction
The Trump administration sold more than 400,000 acres (406,876 hectares) of land in Alaska's Cook Inlet on Wednesday, but no oil and gas drillers showed up. They refused to make a bid.The One Big Beautiful Bill Act of U.S. president Donald Trump, which was signed into law in 2017, mandates six Alaska offshore gas and oil auctions through 2032.Trump has sought ways to increase domestic oil and gas production…
Trump meets with tech giants to discuss energy pledges ahead of midterm elections
The U.S. president?Donald Trump will meet with leaders of technology companies on Wednesday, including 'Google, Meta and OpenAI. They are expected to formalize an agreement to protect consumers from the rising costs of electricity due to the rapid growth of data centers that use a lot of energy. The White House announced that the "Ratepayer Protection Pledge" announced…
US auctions oil and gas drilling in Alaska's Cook Inlet
The Trump Administration will on Wednesday 'offer over 1 million acres (404,686 ha) of Alaska's Cook Inlet?to?oil & gas explorers. This is a key test to see if the industry wants to invest in this region. This is the first auction of six Alaskan offshore oil and natural gas auctions that will be held by?U.S. through 2032. The One Big Beautiful Bill Act was signed by President Donald Trump last year. The U.S.
Source: Russia is ready to divert oil from Middle East to India due to Middle East conflict disrupting flows.
An 'industry source' with direct knowledge said that Russia was ready to divert oil from the Middle East to India in order to counter supply disruptions. About 9.5 million barrels of Russian crude are currently on vessels near Indian waters, and could arrive within weeks. Sources declined to reveal the original destination of the non-Russian cargoes, but they said that they could be delivered to India in a matter of weeks.
Trump meets with tech giants to discuss energy pledges ahead of midterm elections
U.S. president Donald Trump will'meet with leaders of major technology companies on Wednesday, including Google, Meta and?OpenAI to formalize an agreement to protect consumers from the rising costs of electricity due to the rapid growth in energy-intensive data centres. The White House announced that the "Ratepayer Protection Pledge" announced by Trump during his…
Palm oil ends Chicago soyoil's lower track, and profit-taking
After three sessions of gains, the price of palm oil in Malaysia fell on Wednesday due to profit-taking and lower Chicago soyoil. The benchmark 'palm oil contract' for May delivery on the Bursa Malaysia Derivatives Exchange fell 8 ringgit or 0.19% to 4,178 Ringgit ($1,059.87), a metric tonne, at the close. Dalian's soyoil contract, which is the most active, gained?0.46%.
The European market is seeking clarity about Qatari LNG supplies, which has led to a reduction in prices.
The Dutch and British gas price were lower on Wednesday, after rising earlier in the week. However, they could still be volatile, as traders try to gauge how long Qatari LNG supply will remain interrupted. Data from Intercontinental Exchange (ICE), showed that the benchmark 'Dutch front month contract' at the TTF hub had fallen by 1.02 euros to?53.27 per megawatt-hour (MWh) as of 1018 GMT.