A third Iran-linked tanker was entering the Gulf via the Strait of Hormuz on Tuesday on the first full day of the U.S. blockade on vessels calling at Iranian ports, shipping data showed.U.S. President Donald Trump announced the blockade on Sunday after weekend peace talks in Islamabad between the U.S. and Iran failed to reach a deal.
CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal
Brent crude futures rose more than 2% on Tuesday after the U.S. military carried out strikes in Iran, keeping markets on edge as a deal to end the war and open up the Strait of Hormuz remained elusive.Brent futures LCOc1 were up $2.36, or 2.5%, to $98.50 a barrel as of 0630 GMT, after settling 7% lower in the previous session.U.S. West Texas Intermediate crude CLc1 was at $91.
Oil prices edged higher on Thursday, as investors monitored peace talks between the United States and Iran, while supply tightness and U.S. inventory drawdowns provided some support.Brent crude futures LCOc1 rose 40 cents, or 0.4%, to $105.42 a barrel by 0809 GMT, and U.S. West Texas Intermediate futures CLc1 were up 50 cents, or 0.5%, at $98.76.Both benchmarks dropped around 5.
Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.The news capped weeks of market volatility and geopolitical upheaval after U.S.
Oil prices sank about 4% on Wednesday after reports the United States had sent Iran a 15-point proposal aimed at ending the war in the Middle East, raising prospects of a ceasefire that could ease supply disruptions in the region.Brent crude futures LCOc1 fell $4.17, or 4%, to $100.32 a barrel by 0708 GMT, after declining to as low as $97.57. U.S.
Saudi Aramco has offered more than 4 million barrels of Saudi crude in rare tenders as the U.S.-Iran conflict disrupted exports from the Middle East, several traders said.In a tender that will close at 5 p.m. Beijing time (0900 GMT) on Monday, Aramco offered 2 million barrels of Arab Heavy crude to load at the Ain Sokhna port of Egypt.
The cost of hiring a supertanker from the Middle East to China exceeded $200,000 a day on Thursday for the first time since 2020 as the threat of U.S. attacks on Iran grows and buyers seek to lock in oil cargoes, according to data and market sources.Iran pledged to show flexibility at indirect talks with Washington on their longstanding nuclear dispute on Thursday
BP has won its arbitration case against Venture Global over the U.S. supplier's failure to deliver liquefied natural gas under a long-term contract that was due to start in late 2022, Venture Global said on Thursday.The International Chamber of Commerce International Court of Arbitration found that Venture Global breached its obligations to declare commercial operations had begun at the
DNV has published a report forecasting that carbon capture and storage (CCS) capacity is expected to quadruple by 2030, with sharp increase project pipeline capacity indicating that CCS is at a turning point.The immediate rise in capacity is being driven by short-term scale up in North America and Europe, with natural gas processing still the main application for the technology
JERA, Japan's biggest power generator, has agreed to new supply deals for U.S. liquefied natural gas from four projects to diversify its global portfolio away from its reliance on Australia, it said on Thursday.JERA plans to buy up to 5.5 million metric tons per annum (mtpa) of U.S. LNG under 20-year contracts, with deliveries starting around 2030.
Hines Furlong Line has taken delivery of the M/V Donny Mudgett, the first vessel completed in its eleven-vessel newbuild program. Built at Intracoastal Iron Works in Bourg, Louisiana, the M/V Donny Mudgett is powered by three Mitsubishi Tier 3 S6R2-Y3MPTAW engines, each delivering 803 horsepower at 1,400 RPM.