Alex Longley

Fewer owners are entering the Persian Gulf after attacks near Hormuz, tightening vessel supply and lifting benchmark earnings from about $200,000 before the war.

Saudi Aramco pushed back restarting its Jazan oil refinery to late August, following a weekend attack on the facility, according to market intelligence firm IIR Energy.

Oil prices rise to near US$87/bbl as Iran-Oman deal over Strait of Hormuz stalls; Brent climbs over 5% in three sessions. European diesel surges post-Saudi refinery attack, adding market volatility.

A key oil supply valve from the Middle East that involves shuttle transits through the Strait of Hormuz is continuing to function in the face of a recent spate of attacks.

Middle Eastern oil producers are pressing ahead with shuttling large volumes of crude out of the Persian Gulf, helping keep a lid on prices and assuaging fears of an energy-driven inflation spike, even as the Iran war drags on.

The UAE, Iraq, Kuwait and now Saudi Arabia all appear to be sneaking barrels across the crucial waterway to global markets.

(Bloomberg) -- The cost of shipping oil cargoes on a supertanker through the Strait of Hormuz is about $20 million, the boss of TotalEnergies SE said, underscoring the wide margins to be made by traders and shipowners.

Yemen’s Houthi militant group targeted a Saudi Arabian supertanker sailing through the Red Sea.

Crude prices declined as traders weighed new US sanctions pressure on Tehran.

The UAE’s biggest oil and gas producer ordered two more liquefied natural gas carriers, extending a recent spree of vessel purchases that will help expand energy exports in the coming years.