The Trump administration is weighing emergency measures, including a federal gas tax suspension, as the Iran war continues driving fuel prices higher across the United States.
Saudi Arabia’s crude exports to China are expected to fall to record lows in June as elevated oil prices and ongoing Hormuz disruptions weigh on Asian demand.
Iraq and Pakistan reached separate agreements with Iran to move crude oil and LNG through the Strait of Hormuz as regional energy disruptions continue.
Saudi Aramco said its East-West crude pipeline reached full 7 MMbpd capacity as the company rerouted exports during ongoing Strait of Hormuz disruptions.
Oil prices climbed more than 3% after President Trump rejected Iran’s latest response to a U.S. proposal, fueling new concerns over Strait of Hormuz supply disruptions.
The IEA says the Middle East conflict could remove about 120 Bcm of LNG supply from global markets through 2030, tightening gas balances worldwide.
Rising geopolitical risks and supply disruptions are pushing LNG buyers toward long-term shipping contracts as volatility reshapes the global LNG market.
QatarEnergy has extended force majeure on LNG deliveries to Edison, canceling additional cargoes and tightening supply as disruptions continue into July.
KazMunayGas is redirecting oil exports to alternative routes, including the CPC pipeline, after Druzhba flows were halted, impacting supplies to Europe.
China faces growing pressure to use its influence with Iran to reopen the Strait of Hormuz, a key global oil shipping route disrupted by escalating tensions.
Global oil majors are turning back to Canada’s energy sector as Middle East instability drives renewed interest in upstream assets and LNG-linked growth opportunities.
Petronet LNG expects to resume full contracted volumes from Qatar after disruptions tied to the Strait of Hormuz closure and LNG supply outages.
Iraq has begun construction on a major crude oil pipeline linking Basra to Haditha, aimed at expanding export routes and strengthening supply resilience.
The UAE’s decision to break from OPEC exposes a deepening rift with Saudi Arabia, signaling a major shift in Gulf oil power dynamics and global market influence.
Poland’s Orlen says Saudi Aramco oil deliveries remain stable, even as shipments are rerouted through the Red Sea amid disruptions tied to the Iran conflict.
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