Crude oil

Oil prices rise after reports container ships in Hormuz hit by gunfire

Oil prices rose 2% on Wednesday, erasing earlier losses after reports of gunfire attacks on at least three container ships in the Strait of Hormuz and a lack of progress in peace talks between the U.S. and Iran.

Opinion: U.S. crude and fuel exports surge to record highs, but it's not enough

Much of the extra crude is heading to Asia, the region most affected by the effective closure of the Strait of Hormuz, the narrow waterway through which about 20% of the world's supply of crude and refined fuels passed prior to the start of the conflict.

U.S. waiver set to keep Russian oil exports to India near record high

The robust exports to India - the second-largest buyer of Russian crude after China and largest importer of its flagship Urals grade - will likely help Moscow replenish state coffers under pressure due to military spending for the war in Ukraine.

Opinion: Opening Hormuz is the easy part—restoring oil flows isn’t

The immediate impact has been severe. Around 13 MMbpd of oil supply and roughly 300 MMm3d of liquefied natural gas (LNG) have been trapped inside the Gulf, forcing producers to shut in oil fields, refineries and LNG plants and battering economies from Asia to Europe.

Japan's Eneos says 145,000-bpd Sendai CDU shut down since April 16

The unit had just resumed operations on April 14 following an unplanned shutdown on March 31.

Phillips 66, Kinder Morgan move ahead with new U.S. West Coast fuel pipeline

The Western Gateway Pipeline project comes as companies race to build a major new fuel pipeline to the U.S. West Coast ahead of planned refinery closures in California, a relatively isolated fuel market with limited pipeline links to major refining hubs, leaving it vulnerable to supply disruptions and price spikes.

Nigerian airlines threaten to halt flights over soaring jet fuel prices

EU working on jet fuel plan as Iran crisis threatens air travel

Japan refiners run at two-thirds capacity, awaiting crude from outside the Gulf

EU warns of prolonged energy shock, forced cuts if Iran war continues

Europe has not yet faced supply shortages, but is grappling with soaring oil and gas prices and airports have warned the first jet fuel shortages could hit within weeks.