1d ago
Brent Slips Below $105 as Iran Dismisses Peace Talk Reports; Gulf-to-China Freight Falls $6 to $17 per Barrel
Iran subsequently denied the reports. Freight rates from the Gulf to China fell $6 within a month to $17 per barrel.
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11-2
Oil Prices Slide 3% as Hopes for Iran Peace Deal Grow
Oil prices fell sharply on Monday as Qatar-mediated diplomatic efforts raised hopes of easing U.S.-Iran tensions despite continued fears of renewed military escalation.
10-30
BP Quadruples Profit to Record as War Boosts Refining and Trading
BP’s third-quarter underlying profit nearly quadrupled to $8.5 billion as refining margins soared, and net debt fell to $13.9 billion.
10-16
IEA Speeds Emergency Oil Release
The International Energy Agency will release more than 20 million barrels of diesel as soon as possible and accelerate the rest of its emergency oil draw,
10-13
Shell Slams Australia's Plan to Force LNG Producers to Supply Domestic Market
Shell has warned that Australia's proposed domestic gas reservation scheme could disrupt market prices and discourage investment in future gas supplies.
10-5
Oil prices slip as Kpler says Strait of Hormuz crude flows exceed prewar levels
Crude prices fell in early trading after Kpler data showed daily oil flows out of the Strait of Hormuz rose to 19.5 million to 22.5 million barrels in late September, above prewar levels. Brent remained above $100 a barrel, while WTI was at $89.73 a barrel. The figures were cited in Reuters’ description of “provisional data” from Kpler.
10-4
Persian Gulf crude exports rebound to 16.5 million bpd in September as more flows bypass the Strait of Hormuz
Crude exports from the Persian Gulf returned to near prewar levels in September, excluding Iran, averaging 16.5 million barrels per day. The share of regional crude moving through the Strait of Hormuz fell to 60% from 83% before the war, with about 9.9 million barrels per day crossing the chokepoint. The remaining 40% bypassed Hormuz via pipelines and other routes through Saudi Arabia and the United Arab Emirates. Greater reliance on pipelines, offshore transfers and military escorts has reduced Iran’s leverage over the strait.
10-2
Middle East crude exports rebound to 98% of pre-war levels as refinery outages keep diesel tight
Middle East crude exports have recovered to 98% of pre-war levels, beating market expectations. At the same time, roughly 3 million barrels per day of refining capacity has been disrupted by the conflict, keeping global diesel supplies tight. EU diesel pump prices have hit record highs as a result.
10-2
Amazon signs 20-year nuclear power deal with Constellation for 690 MW from Calvert Cliffs
Constellation Energy and Amazon signed a 20-year electricity supply agreement for 690 megawatts from the Calvert Cliffs nuclear power plant in Maryland. The deal supports more than $3 billion of infrastructure investment, including upgrades that add 190 megawatts of generating capacity between 2030 and 2032. Estimates indicate the agreement could lift Constellation’s free cash flow by about $86 million to $224 million. Constellation shares rose nearly 4% in premarket trading on the news.
