Two and a half months after the Strait of Hormuz effectively shut down amid the escalating Middle East conflict, India—the world’s third-largest crude oil importer—is grappling with a deepening energy shock that is rippling through its economy. What began as a geopolitical standoff has now cut off more than 40% of India’s crude oil flows, […]
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President Donald Trump’s two-day summit with Chinese President Xi Jinping in Beijing (May 14-15, 2026) delivered a mix of tangible trade deliverables and diplomatic signaling on the Iran war—framed against a backdrop of disrupted global energy flows through the Strait of Hormuz. While no sweeping new trade war truce or grand bargain emerged, both sides […]
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WASHINGTON/BEIJING – U.S. Treasury Secretary Scott Bessent delivered a stark update on Iran’s oil sector while in Beijing for the Trump-Xi summit, declaring that Iran’s primary export terminal at Kharg Island has reached 100% storage capacity. No oil loadings have occurred in the past three days, ships are neither entering nor leaving, and production shutdowns […]
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In a move that signals business-as-usual intent amid extraordinary disruption, OPEC+ delegates have outlined plans to press ahead with a series of oil production quota increases, aiming to fully unwind the final layer of voluntary cuts announced in 2023 by the end of September 2026. According to Bloomberg reporting, key members intend to raise targets […]
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In a notable development for global energy markets still reeling from disruptions in the Persian Gulf, a Japan-bound crude oil tanker has successfully transited the Strait of Hormuz. The vessel, identified as the Eneos Endeavor and owned by Japanese refiner Eneos, is the second Japan-bound tanker to clear the critical chokepoint since U.S. and Israeli […]
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Saudi Arabia has delivered a stark update to OPEC: its crude oil production plunged another 651,000 barrels per day (b/d) in April, hitting just 6.316 million b/d—the lowest level since the 1990 Gulf War. According to a monthly report from OPEC’s secretariat obtained by Bloomberg, the kingdom’s output has now fallen a cumulative 42% since […]
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The Strait of Hormuz crisis, now in its third month, has evolved from a dramatic military flashpoint into a grinding economic and diplomatic stalemate. As of May 12, 2026, President Donald Trump has rejected Iran’s latest counterproposal as “totally unacceptable,” describing the broader ceasefire as on “life support.” The Islamic Revolutionary Guard Corps (IRGC) continues […]
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This means restoring normal supply-demand equilibrium, rebuilding severely depleted global inventories, repositioning tankers and supply chains, restarting/rebalancing production flows, ending demand rationing/destruction, and removing the geopolitical risk premium that has driven price volatility and tightness. Nasser emphasized that simply reopening shipping routes (like the Strait of Hormuz) is not the same as market normalization, due […]
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In a sharp rebuke that underscores the Trump administration’s “maximum pressure” doctrine, President Donald Trump has rejected Iran’s latest peace proposal as “totally unacceptable,” signaling that backchannel talks remain deadlocked and energy markets could face renewed volatility. The rejection comes amid a fragile ceasefire that has held since early April 2026 but is now strained […]
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Have you ever seen one of my favorite movies, Groundhog Day? I feel like that right now as we are trying to report on the global energy crisis, and daily it is the Strait is open, ….closed,,, open,,, closed, …. Dolphins, removing mines,,,, clear ,,, wow. Ok, and Jeff, yes, AI thought they were creating […]
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