Middle East

EIA: Global LNG trade volumes reached record high in 2025

Global LNG trade has slowed this year following the closure of the key export route for Qatar, the world’s second-largest LNG exporter.

Turkey says Iraq seeks 750,000 bpd capacity on Kirkuk-Ceyhan oil pipeline

The current pipeline agreement between Iraq and Turkey expires this month. The two countries reached an understanding last week to keep it operating for another year and a deal is expected to be signed in the coming days.

Hormuz traffic slows to two-month low as renewed U.S., Iran strikes raise safety risk

Shipping industry sources said vessels were increasingly switching off their public AIS tracking transponders, making it difficult to determine the full number of ships crossing the waterway.

Less than a month's supply: Europe's jet fuel stocks are wafer thin as Iran tensions flare

Britain, France and Germany are particularly vulnerable in a continent where decades of refinery closures left it more reliant than most on Middle Eastern shipments via the Strait of Hormuz.

IEA: U.S.-Iran escalation could threaten 2027 oil market surplus

Global oil markets received some respite last month as a peace agreement between the U.S. and Iran facilitated the opening of the Strait, the effective closure of which had taken out as much as 14 million barrels per day of crude flows during the peak of the largest oil supply crisis in history.

Tanker traffic through Hormuz at near standstill as attacks strain Iran truce

Shipping industry sources said vessels were increasingly switching off their public AIS tracking transponders, making it harder to see all of the ships crossing.

Oil refiners' Hormuz windfall may prove short-lived

Refining profitability is determined by two factors: the cost of crude oil and the price of the gasoline, diesel and jet fuel produced from it. At the moment, both are moving in refiners' favor.

South Korea expands energy partnership with UAE's ADNOC

Both parties will seek to boost long-term crude supply to Korean refiners, improve joint coordination during emergency supply situations such as seeking alternative export routes, and advance cooperation on international joint crude stockpiling in South Korea.

Fluor signs long-term program management consultancy contract with Saudi Aramco

Saudi Arabia considers expansion of oil pipeline to Red Sea