The U.S. naval blockade of Iran, enforced since mid-April 2026, is delivering a measurable blow to Tehran’s oil-dependent economy. Iranian crude and condensate exports have plummeted from nearly 2 million barrels per day (bpd) earlier this year to below 300,000 bpd in May, according to trade intelligence firm Kpler. At conservative Brent prices around $90 […]
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US military surveillance has documented nearly 1,000 commercial vessel transits through the Strait of Hormuz in the roughly two months since the US-Iran ceasefire took effect on April 8, 2026. The figure, shared by an official familiar with US Central Command operations, exceeds private-sector estimates that rely primarily on ship transponders (AIS data). Military analysts […]
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In a stark warning delivered at S&P Global’s Middle East Petroleum & Gas Conference in London, Vitol board member Tom Baker pulled no punches: “In Europe and I think in the US, everyone is kind of asleep at the wheel and just carrying on life as normal.” Vitol, one of the world’s largest independent oil […]
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In a breaking maritime incident that has sent ripples through global shipping and energy markets, a Panama-flagged vessel was struck by an unknown projectile, triggering a large explosion in the Arabian Gulf. The event occurred just hours after Iran announced it was suspending talks with the US until the IDF withdraws from Lebanon, raising fresh […]
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In a stark assessment amid one of the largest oil supply shocks in history, Goldman Sachs has signaled that global energy markets—led by crude oil—are shifting into a demand destruction phase. Even if a near-term peace deal eases the closure of the Strait of Hormuz, severely depleted inventories mean markets will likely require significant demand […]
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In a wide-ranging Bloomberg Surveillance interview aired today, Chevron Chairman and CEO Mike Wirth painted a sobering picture of ongoing disruptions in the Strait of Hormuz while signaling that the industry is accelerating plans for alternative infrastructure to reduce reliance on the critical chokepoint. Wirth confirmed that multiple vessels transiting the Strait of Hormuz have […]
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May 29, 2026 The Philippines has received its first cargo of Iranian crude oil since the disruption of the Strait of Hormuz, marking a notable development in the country’s efforts to secure energy supplies amid ongoing global oil market volatility, according to tanker-tracking data from Kpler and Vortexa reported by Reuters, a Suezmax vessel carrying up […]
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Energy News Beat – May 28, 2026 U.S. and Iranian negotiators have hammered out a tentative 60-day memorandum of understanding (MOU) to extend a fragile ceasefire and kick-start talks on Iran’s nuclear program — but the deal still needs final sign-off from President Donald Trump. According to Axios reporting, the framework aims to reopen the […]
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The Strait of Hormuz remains the world’s most critical — and most contested — energy chokepoint. Roughly one-fifth of global oil and LNG trade normally flows through its narrow waters. Yet since the U.S.-Israel military campaign against Iran began in late February 2026, traffic has collapsed to a fraction of pre-war levels, sending shockwaves through […]
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In a significant sign of cautious normalization amid the ongoing U.S.-Israel-Iran conflict, two Very Large Crude Carriers (VLCCs) and at least two LNG tankers have successfully transited the Strait of Hormuz this week, with cargoes bound for key Asian buyers in China and India. The vessels operated in “dark mode” — transponders switched off to […]
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