Economics

Brazil's Petrobras to auction 20 MM liters of diesel amid shortage reports

A spike in diesel prices is emerging as the first and most immediate threat to Brazil's farm sector from the U.S.-Israeli attacks on Iran, raising costs for producers harvesting a record soybean crop and planting corn they cannot afford to delay.

Iverson eFuels to discontinue green ammonia project in Norway due to grid capacity

U.S. fuel exports see slight uptick in 2025

Iran war causes major oil, gas disruptions

The U.S.-Israeli war on Iran and Tehran's attacks on Gulf neighbors have disrupted oil and natural gas exports from the Middle East and forced production stoppages.

Asia refineries, petchem firms cut runs as Middle East conflict disrupts feedstock supplies

Asian steam crackers, which source more than 60% of their naphtha feedstock from the Middle East, have been quick to declare force majeure on petrochemical supplies to customers.

Shell-CNOOC China JV to close 1.2-MMtpy steam cracker due to feedstock disruption

Russia gets export boost from Iran war as price of oil to India surges

The Iran conflict, now in its seventh day, has left the Strait of Hormuz, a critical shipping chokepoint, all but shut, cutting countries off from a fifth of global oil and liquefied natural gas (LNG) supplies.

Ships loaded with Reliance diesel, jet fuel turn to Asia instead of Europe

Asian buyers are rushing to secure fuel supplies to offset production losses from expected refinery run cuts as the near-halt in traffic in the Strait of Hormuz constrains oil supply to the region.

South Korea may use fuel price cap to curb consumer prices

The rising risk of a drawn-out conflict has particular significance for South Korea, the world's fourth-largest oil importer, which gets around 70% of its oil from the Middle East.

Shintech announces $3.4-B expansion at Louisiana petrochemicals complex