Commodities
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IEA Forecasts 2023 Oil Demand At 102 Million Bpd Amid OPEC+ Cuts
VIENNA, July 19 — The International Energy Agency forecast global oil demand at 102 million barrels per day…
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By the Numbers: 20 Million Barrels a Day Through Hormuz, 1.5
PARIS, July 19 — The International Energy Agency’s 31 member countries held roughly 1.5 billion barrels of government-controlled…
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West Texas Intermediate crude prices fluctuate amid SPR drawdowns
NEW YORK, July 19 — The figure that matters: 3 million barrels. That is the size of the…
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Energy Information Administration tracks SPR, crude oil data
WASHINGTON, July 19 — The nation’s emergency crude oil stockpile has fallen to its lowest level since 1983,…
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Bryan Mound: Largest U.S. Strategic Petroleum Reserve Site
FREEPORT, Texas, July 19 — The ground here along the Gulf Coast holds a secret. Below the flat…
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US Strategic Petroleum Reserve Drops to Lowest Level Since 1983
WASHINGTON, July 19 — The U.S. Strategic Petroleum Reserve has dropped by 3 million barrels to its lowest…
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Brent Crude: How a North Sea Oilfield Became Global Jet Fuel Benchmark
LONDON, July 16 — Brent Crude, the global oil benchmark that underpins approximately 80% of the world’s petroleum…
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Supply shock sends global food, energy prices soaring
ROME, July 15 — Four years after the Russian invasion of Ukraine sent shockwaves through global commodity markets,…
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Oil Fee Abandoned at Strait of Hormuz Could Impact Prices
LONDON, July 15 — The story of a proposed cargo fee on ships transiting the Strait of Hormuz…
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Strait of Hormuz Disruption: Scenarios and Global Response
WASHINGTON, July 15 — A partial closure of the Strait of Hormuz could remove 5 to 10 million…
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The Economics of Oil: From Price Shocks to the Petrocurrency System
LONDON, July 14 — The mechanism that has underpinned global oil trade for half a century is the…
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From Drake’s Well to Shale Boom: A 165-Year History of Oil
TITUSVILLE, Pa., July 14 — On a dusty patch of ground beside Oil Creek, a visitor can still…
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American shale boom propels U.S. to world’s top oil producer
HOUSTON, July 14 — The shale revolution, a combination of horizontal drilling and hydraulic fracturing, has fundamentally rewired…
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U.S.-Iran Conflict Risks Global Oil via Strait of Hormuz
TEHRAN, July 14 — The narrow waterway that carries about 20% of the world’s daily oil supply is…
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Global Oil Markets Brace for Price Surge as Hormuz Toll Takes Effect
ASTANA, July 13 — The 20% toll on cargo transiting the Strait of Hormuz, announced on July 2,…
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A Strait of Hormuz fee could spike global oil prices
ASTANA, July 13 — A proposed toll on oil shipments transiting the Strait of Hormuz carries the potential…
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Strait of Hormuz: Vital Oil Chokepoint Faces Growing Strategic Risks
DUBAI, July 13 — The Strait of Hormuz, a narrow 33-kilometer-wide waterway between Iran and Oman, has long…
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Strait of Hormuz Toll Threatens Global Oil and LNG Prices
NEW DELHI, July 13 — Asian buyers who account for 70% of traffic through the Strait of Hormuz…
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Strait of Hormuz remains vital oil chokepoint despite declining 2023 volumes
WASHINGTON, July 13 — The U.S. Energy Information Administration reports that the Strait of Hormuz carried 17 million…
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Oil Toll Hike May Reshape Global Energy Trade Routes
LONDON, July 13 — The story begins not with a single dramatic event, but with a quiet calculation…
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Russian drone strikes drain Russia’s oil reserves amid military fuel demands
MOSCOW, July 13 — Russia’s war machine is burning fuel at a rate that is drawing increasing scrutiny,…
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Attacks on Russian Energy Cut Oil Revenue, Impact Markets
MOSCOW, July 13 — Ukraine’s campaign of strikes against Russian oil infrastructure is injecting a persistent dose of…
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Strait of Hormuz: Key Oil Chokepoint’s Strategic History Explained
MANAMA, July 13 — The Strait of Hormuz, a narrow waterway that connects the Persian Gulf to the…
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Drone Strikes Cut Russian Oil Exports, Impact Economy
MOSCOW, July 13 — Russia’s oil exports declined by 10% in 2024 compared to the previous year, according…
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