Iraq has suspended crude oil loading operations at all its southern export terminals following a drone incident at the Basra (Basrah) terminal complex in the Persian Gulf. The move affects a significant portion of the country’s exports, which normally average around 3.3–3.6 million barrels per day (bpd) via these facilities (with some market commentary citing […]
Crude oil inventories held at storage facilities in Cushing, Oklahoma, fell below 20 million barrels during the week ending June 19 until the week ending July 10, according to our Weekly Petroleum Status Report. Storage facilities for crude oil and petroleum products require a minimum volume of product in their tanks and pipe infrastructure to remain […]
NB Pub Note: By RFE/RL staff – Jul 15, 2026 – I am old enough to remember a few years ago when a single tanker was hit by Iran, and oil jumped $30 per barrel. Russia has lost over 60% of its downstream capabilities, and in the last 3 weeks, over 90 vessels, including 20 tankers. The […]
ENB Pub Note: This article originally ran on RHG Phoenix’s site by Randy Green. We will be visiting with them on the podcast soon. The global oil market is navigating a complex rebalancing act amid geopolitical disruptions, sanctions evasion, and shifting supply dynamics. As of mid-July 2026, Brent crude trades in the low-to-mid $80s per […]
Yasir Arafat, Co-Founder, CTO, & President, stops by the Energy News Beat podcast On July 4th, 2024—America’s 250th birthday—something extraordinary happened that most people missed. Allo Atomics turned on a brand new advanced nuclear reactor for the first time in 50 years. But here’s what makes this truly revolutionary: they designed, built, and achieved criticality […]
The Strait of Hormuz, the world’s most critical oil chokepoint carrying roughly 20% of global oil trade (around 20–21 million barrels per day pre-disruptions), is rapidly losing its stranglehold. According to Goldman Sachs analyst Alexandra Paulus, pipeline projects across the Gulf are on track to divert up to 45% of pre-war Persian Gulf oil exports […]
New York Governor Kathy Hochul signed an executive order on July 14, 2026, imposing the country’s first statewide moratorium on new large-scale data centers. The order halts permitting for facilities requiring 50 megawatts (MW) or more of electricity for up to one year while regulators study impacts on the electric grid, water resources, and local […]
In a significant development for U.S.-Iraq energy relations, President Donald Trump hosted Iraqi Prime Minister Ali al-Zaidi at the White House on July 14, 2026. The meeting focused on deepening strategic ties, advancing major oil and gas investments, and discussing infrastructure projects—including a revived pipeline that could bypass the volatile Strait of Hormuz. Trump also […]
The Refining Capacity Shortage and Demand Destruction Quest Brent crude oil prices surged more than 3% today, breaking above $86 per barrel (reaching $86.06 in early London trading). This extends a sharp ~12% rally since Friday, driven by escalating geopolitical risks across key oil chokepoints and infrastructure. The immediate spark came from Iranian cruise missile […]
The conflict involving Iran has rapidly expanded beyond direct U.S.-Iran clashes into a broader regional war, with proxy actions, naval disruptions, and threats spanning the Persian Gulf, Strait of Hormuz, Yemen, and even the Caribbean. Oil prices are climbing on heightened supply risks, with Brent crude recently trading around $83–85 per barrel amid fresh attacks […]
