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The cost of hiring an oil tanker on the industry’s benchmark trade route topped $1 million a day for the first time, as the Iran war leaves too few ships willing to cross the Strait of Hormuz to collect cargoes.
Brent crude has risen above $100 a barrel as war in Iran disrupts shipping through the Strait of Hormuz.
Saudi Arabia is seeking to further boost oil supply through the Strait of Hormuz after attacks forced it to halt a key pipeline that’s been the main means of getting its crude to global markets during the Iran war, according to a person familiar with the matter.
The US-Israel war on Iran has shaken global energy markets and coal is no exception. Countries around the world are turning to the highly polluting source of power in a bid to avoid shipping disruptions in the Strait of Hormuz. According to the International Energy Agency, global coal demand is forecast to rise by 1.2% this year to a record 8.94 billion tonnes. FRANCE 24’s Environment Editor Valerie Dekimpe has the details in this edition.
Pakistan GasPort Chairman Iqbal Z. Ahmed highlights how the closure of the Strait of Hormuz has disrupted LNG supply chains, reshaping Pakistan’s demand outlook. He speaks with Haslinda Amin from the sidelines of 'Gastech Bangkok 2026'. (Source: Bloomberg)
Iraq is holding a tender to hire two or more oil supertankers to perform transits through the Strait of Hormuz, a step that would help to ensure the country’s crude exports while the waterway remains under military threat.
Oil extended gains as Iran vowed it was prepared for a more intense war after hostilities flared across the Middle East, heightening concerns about deeper disruptions to energy flows through the Strait of Hormuz.
Oil extended gains after Fox News reported the US struck targets near Iran’s key crude export hub of Kharg Island, escalating hostilities and stoking fears of deeper disruptions through the Strait of Hormuz.
Oil extended gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz. Bloomberg's Michael Heath shares what we know so far. (Source: Bloomberg)
Oil extended gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, which could tighten Tehran’s control over the crucial waterway.
Oil prices spike to six-week highs as US-Iran strikes disrupt traffic in the crucial Strait of Hormuz.
Energy Aspects founder Amrita Sen discusses China's demand for oil and the outlook for crude prices as disruptions in the Strait of Hormuz continue. "We've been talking about diesel and gasoline prices being super high, and they need to stay high, but I think crude is about to close that gap," Sen tells Bloomberg Television. (Source: Bloomberg)
Vandana Hari, Founder of Vanda Insights, says oil prices are likely to continue a slow and steady climb as the U.S. and Iran remain locked in a cycle of escalation around the Strait of Hormuz. She says crude futures are not fully reflecting the physical market tightness, pointing to diesel prices near $200 a barrel in Atlantic markets and warning of further scarcity in the coming weeks and months. Hari also says markets would remain cautious even if Hormuz reopened, given doubts over whether any de-escalation would prove sustainable. She speaks with Abeer Abu Omar on Horizons Middle East & Africa. (Source: Bloomberg)
Tensions are ongoing over the fate of the Strait of Hormuz as both the United States and Iran are claiming control of the waterway. A recent escalation of the attacks in the region is driving oil prices in several countries.
Oil headed for its biggest weekly gain since July as renewed US-Iran hostilities heightened concerns about prolonged disruptions to energy flows through the Strait of Hormuz. Bloomberg's Onur Ant has the latest. (Source: Bloomberg)
Dimitris Maniatis, CEO of Marisks, says the latest intelligence assessment has reduced expectations of a near-term escalation in the Strait of Hormuz, after earlier analysis pointed to heightened risk. He says 25 ships transited the southern corridor under U.S. military guidance the previous day and vessel movements are continuing. Maniatis also says attractive earnings are drawing shipowners back to the route, while crews remain cautious but are willing to transit with bonuses, security support and proper risk assessments. He speaks with Abeer Abu Omar on Horizons Middle East and Africa. (Source: Bloomberg)
Oil headed for its biggest weekly gain since July as renewed US-Iran hostilities heightened concerns about prolonged disruptions to energy flows through the Strait of Hormuz.