Russell: The war fuel crisis in Iran gives electric vehicles a boost for the long term.
The U.S. president Donald Trump is known for his support of fossil fuels. However, the legacy of war against the?Iran will likely be an acceleration in the energy transition. This is especially true in Asia. Retail fuel prices have risen rapidly since the U.S.-Israeli aerial campaign began on February 28, causing the world's fastest growing region to be hit by the fallout. In Australia, for example, the cost of a litre (about 1.9 liters) of diesel has reached a record high of A$3…
Mixed oils and geopolitical tensions weigh on the palm oil price
The price of Malaysian palm oil futures was a little tighter on Tuesday after the long Eid holiday break. By midday, the benchmark palm oil contract on the Bursa Derivatives exchange traded between 4,565 and 4,597 Ringgit per ton. It then settled 0.63% lower ($1,161.18) at 4,582 Ringgit. A trader based in Kuala Lumpur said that mixed price movements between Dalian palm oil and Chicago soybean oils kept palm futures within a tight range.
Australia's Santos temporarily closes Darwin LNG Plant amid Mideast Supply Squeeze
Santos, an Australian company, announced on Tuesday that it had temporarily closed its Darwin liquefied?gas plant. This would disrupt exports of a newly restarted?supply chain during a period when the markets were tightening because of disruptions in the Middle East. This outage occurs as LNG exports from Qatar to Europe and Asia have already been under pressure due to disruptions in shipments. Australia is a major LNG supplier to Asian buyers. Santos is the second largest oil and gas producer in the country.
Iran denies talking to US after Trump delays strikes on power grid
Iran denied on Monday that it was in negotiations with the United States after President Donald Trump backed down from a threat to attack Iran's electricity grid due to?productive talks he had with unidentified Iranian officials. An official from Europe said that although there were no direct talks between the two countries, Egypt, Pakistan, and Gulf states "were relaying" messages. An official from Pakistan and a second person told?
Prices for gas in Europe fall after Trump delays strikes against Iran power plants
The European benchmark contract for gas fell sharply Monday after U.S. President Donald Trump announced he would delay strikes on Iranian energy infrastructure and power plants, saying that a deal could be reached with Iran "within five days or sooner". Intercontinental Exchange data showed that the benchmark Dutch front-month contract at the TTF hub had fallen 4.14 euros to?55.12 per megawatt hour by 1322 GMT. The price had been as high as 63.15 euro/MWh in the morning and dropped to a low intraday of 53.74 euro/MWh.
EUROPE GAS - European prices are rising due to Middle East energy war fears
Dutch and British Gas Contracts rose on Monday morning and are likely to face another volatile trading session, as the Middle East war risks escalating strikes against energy infrastructure. The reopening of Strait of Hormuz is still a long way off. Data from Intercontinental Exchange showed that the benchmark Dutch front-month contracts?at TTF hub were up?3.01 euros at 62.35 euros per megawatt hour (MWh), by 0901 GMT. The British contract was up by 6.3 pence to 157.40 per therm.
Salzgitter CEO: Germany's Salzgitter has at least 50% of its gas hedged as the Iran war continues.
Salzgitter's CEO said that the company had hedged against rising gas prices. The group has locked in over 50% of its costs for this year and the next, as the Middle East conflict continues to have a ripple effect on the energy markets. Gunnar Grbler said after the company?released its full-year results that they were "very well hedged" in the gas market through 2026, and to a certain extent 2027. He added that the hedge rates for power prices were even higher.
Indian sugar mills hurry to export deals due to record low rupee and rising global prices
Five dealers said that Indian sugar mills are now exporting again, with 100,000 metric tons in one week, after the rupee fell to a new record low, and the global price rally restored the economics for overseas sales. Shipping from the world's second largest sugar producer will allow Asian and African consumers to get sugar at lower rates, despite rising freight costs and global sugar prices that are near their highest levels in five months. The war has changed everything. The war has changed everything.
Birol, IEA chief, says that the IEA is discussing future oil releases.
Fatih Birol, the Executive Director of the International Energy Agency, said that they are consulting with governments from Asia and Europe on how to release more oil "if needed" because of Iran's war. We will, of course do so if it's necessary. IEA members nations agreed to release a record number of 400 million barrels from their strategic oil stockpiles on March 11,?to counter the surge in global crude prices. The 20% drawdown was a result of the overall stockpiles.
Iran threatens to retaliate after Trump's ultimatum against Gulf water and energy
Iran has warned that it will strike water and energy infrastructure in the Gulf region if U.S. president Donald Trump follows through with his threat to "attack" its electricity grid. This is raising fears about a massive disruption of drinking water for a region heavily reliant on desalination. Trump gave a deadline of 7:45 pm EDT (2345 GMT) on Monday, warning late Saturday that the United States will strike Iran's nuclear power plants if Tehran does not fully reopen the Strait of Hormuz in 48 hours.
After US sanctions are lifted, refiners in India and other parts of Asia will buy Iranian oil.
Indian refiners are planning to resume purchasing Iranian?oil, while refiners in other parts of Asia are examining the possibility after Washington temporarily lifted sanctions?to 'alleviate a severe energy shortage caused by U.S. and Israeli war against Iran. Three Indian refinery sources have said that they plan to buy Iranian oil. They are waiting for Washington's clarification on payment terms and government directives. After the U.S.
CERAWeek, the energy conference in Houston, returns as Iran's conflict shakes global energy markets
Next week, the world's top energy executives? will return to Houston as the escalating U.S. - Israeli war on Iran has turned into a nightmare for global energy markets. Unprecedented attacks?on infrastructure? and shipping disruptions have sent oil prices soaring as governments struggle to combat inflation and avoid recessions. The global oil price has risen this week to almost $120, a level not seen since 2022, when Russia's war in Ukraine caused a market disruption.
Oil Prices Drop 8% Ahead of Possible Middle East Peace Talks
Oil prices dropped about 8% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days and cited constructive talks to resolve hostilities in the Middle East, hours before a deadline that threatened to escalate the four-week-old war.Brent futures fell $8.92, or 8.0%, to $103.27 a barrel at 12:31 p.m. EDT (1631 GMT), while U.S. West Texas Intermediate lost $7.17…
Energy Prices Jump After Iran Attacks Qatar LNG Plant
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel on Iran came true.QatarEnergy CEO Saad al-Kaabi told Reuters the state-owned gas company may have to declare force majeure on long-term contracts to Italy, Belgium, South Korea and China after the attack…
China Calls for Gulf Conflict to End, Addressing Southeast Asia Energy Shortages
China called for an end to conflict in the Gulf and said the safety of waterways should not be disturbed on Thursday, adding that it was ready to work with Southeast Asia to address energy shortages as oil markets reel from supply shocks.While the U.S.-Israeli war on Iran has allowed China to cast itself as the more reliable superpower, analysts say it is wary of global energy market uncertainty, not least because it needs the…
Qatar Offers LNG Slots for Offloading, Storage, Regasification at Zeebrugge Terminal
QatarEnergy has offered up five slots for unloading, storage and regasification of liquefied natural gas at Belgium's Zeebrugge terminal for the month of April, three industry sources said on Wednesday, indicating its facilities could remain shut down for a longer period.Qatar, the world's second-largest exporter of LNG, announced a production halt at its 77 million ton-per-annum facility earlier this month and declared force majeure on LNG shipments because of the intensifying conflict in the Middle East.QatarEnergy did not imme
Oil Prices Rise As Iranian Attacks on UAE Continue
Oil prices rose more than 1% on Tuesday, as renewed Iranian attacks on the United Arab Emirates heightened concerns about the worsening outlook for global supply if there is no quick resolution to U.S.-Israeli war on Iran, now in its third week.Brent crude futures gained $1.33, or 1.3%, to $101.53 a barrel by 1515 GMT while U.S. West Texas Intermediate (WTI) crude advanced $1.21, or 1.3%, to $94.71.The U.S.-Israeli war on Iran shows no signs of abating.
Oil Production Impacts in the Middle East
Most western oil and gas majors have significant operations in the Middle East, where the U.S.-Israeli war on Iran has disrupted oil and gas shipping and halted some output.France's TotalEnergies, which has the biggest upstream exposure to the region compared with its global output, has said some 15% of its production is offline due to the war.Here are some details on the majors' production in the Middle East, in alphabetical order:BPBP's oil and gas output in the Middle East in 2025…
Indian LPG Sales Trickle Due to Hormuz Shipping Disruptions
Indian state fuel retailers' sale of liquefied petroleum gas (LPG) slowed in the first half of March, preliminary data showed, as the country reels from its worst LPG crisis in decades due to shipping disruption in the Strait of Hormuz.India buys about 90% of its imports of LPG - mainly used for cooking - from the Middle East and its supplies have been disrupted after traffic through the strait ground to a near standstill in the wake of the U.S.-Israeli war on Iran.State fuel retailers Indian Oil Corp IOC.NS, Hindustan Petroleum
UAE Output of Crude Drops, Strait of Hormuz Closure Forces Shut-Ins
The United Arab Emirates' daily oil output is down by more than half as the Iran conflict and the effective closure of the Strait of Hormuz forced state oil giant ADNOC to implement widespread production shut-ins, two sources told Reuters.The halt of commercial navigation through the critical maritime chokepoint, which is normally used to transport about a fifth of the world's oil supply, has inflicted massive disruptions on global energy markets.Earlier on Monday…