Asia spot liquefied natural gas prices rose for a fifth consecutive week to their highest in four months on fears of wider shipping disruptions, as Houthi attacks on Saudi oil tankers extended the Middle East war to a second major chokepoint.
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Asian and European buyers of liquefied natural gas (LNG) plan to ask for lower prices and additional supply guarantees from Qatar and the United Arab Emirates as the U.S.-Iran war raises insurance costs on those deliveries, buyers, traders and industry executives told Reuters.
Crude oil exports from Saudi Arabia fell for a third straight month in May to a record low, data from the Joint Organizations Data Initiative (JODI) showed on Tuesday, with the U.S.-Iran conflict disrupting shipments across the Gulf.
U.S. gasoline pump prices crossed the $4 a gallon mark on Monday as renewed hostilities between the U.S. and Iran further disrupt energy flows through the Strait of Hormuz, a critical route for global oil supplies.
Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia's Black Sea coast, CPC said on Sunday, adding that oil loadings are suspended.
Canada’s largest oil refinery is planning to shut down for maintenance in the fall, potentially exacerbating fuel market tightness in northeastern U.S. states that rely on the plant for gasoline and diesel imports.
If the U.S. and Iran do not increase oil flowing through the Strait of Hormuz soon, the world should worry about energy security, International Energy Agency Executive Director Fatih Birol said on Thursday.
The Bill exempts countries, mostly European nations, whose imports of Russian natural gas account for less than 15% of Russia's total natural gas exports and which are taking significant steps to reduce those imports.
The United Arab Emirates raised its crude oil production by 1,707 thousand barrels per day in June 2026, reaching 3.818 million barrels per day, according to OPEC's monthly report cited by Trading Economics. This output level is the highest recorded since April 2020.
China's oil major PetroChina said on Thursday its Dushanzi Petrochemical unit's 1.2 million metric tons per year ethylene project in Xinjiang had started up successfully on the first attempt.
Top Russian energy companies have approached Indian refiners for more gasoline after Ukrainian strikes knocked out a significant portion of Russia's refining capacity, two sources familiar with the matter told Reuters on Wednesday.
Ukrainian drones attacked Russia's big Salavat petrochemical complex in the Urals region, the local governor said, but he predicted it would return to normal output within days.
President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway.
India has asked renewable energy companies to either surrender transmission rights or provide higher bank guarantees if they fail to generate power, as the country seeks to free up grid capacity for projects that are actually producing electricity, according to a regulatory order.
Iranian oil supplies at sea are rising after Tehran ramped up exports during the interim peace deal with the United States, but sales have been slow as China's independent refiners have turned to cheaper crude from Iraq, the UAE and Qatar.
U.S. President Donald Trump said on Sunday that the Strait of Hormuz is open to commercial traffic, though the U.S. and Iran continue to trade attacks that have raised concerns over safety on one of the world’s most important oil shipping routes.
The global oil market will break out of its roughly $80-$100 range by the first quarter of 2027 at the latest, boosting inflation and reducing energy demand, if the Middle East conflict continues, Claudio Descalzi, the CEO of Italian state-controlled group Eni said.
India's top explorer Oil and Natural Gas Corp will build a 1.75 million metric ton (MT) national strategic petroleum reserve in Mangalore in southern India, the company said in a stock exchange filing late Thursday.
The government of Ghana has signed a Memorandum of Understanding (MoU) with Petrochemical Holding GmbH (PCH) to build a $700 million chemical manufacturing complex and roll out a nationwide programme to recover gold from mining waste and clean up degraded sites.
Qatar has paused efforts to rapidly revive production at the world’s largest liquefied natural gas facility after an attack on one of its tankers near the Strait of Hormuz raised safety concerns, Bloomberg reported Thursday.