… Just 11 fuel tankers and cargo vessels crossed the Strait of Hormuz on Wednesday, according to preliminary data from maritime intelligence firm Kpler. …
… The number of vessels crossing the Strait of Hormuz has risen significantly since the MOU was signed, according to maritime intelligence firm Kpler. …
… So far, at least 172 vessels have travelled through the reopened Strait of Hormuz -which included 42 ships on Saturday alone, according to new data from maritime intelligence firm Kpler. …
… can currently produce. “Balances will definitely be severely tight because (refining margins) incentives still support jet fuel, and we all know that Middle Eastern refiners are not coming back quickly,” said Sumit Ritolia, lead analyst for refining supply and modelling at Kpler …
… Exports climbed to 353,000 barrels per day in April from 168,000 bpd in February, according to data from analytics firm Kpler, with about half of that volume flowing to other African countries. …
… The current Brent futures contract for June delivery expired on Thursday, which contributed to its drop, said Naveen Das, senior oil analyst at Kpler. …
The US attacked the oil tanker Belma with Hellfire missiles as it headed toward Iran's Kharg Island oil terminal, after President Trump reintroduced a blockade of Iranian ports in response to alleged Iranian attacks on commercial vessels.
The US attacked the oil tanker Belma with Hellfire missiles as it headed toward Iran's Kharg Island oil terminal, after President Trump reintroduced a blockade of Iranian ports in response to alleged Iranian attacks on commercial vessels.
Nine of eleven vessels passing through the Strait of Hormuz on Tuesday were linked to Iranian trade, including oil tankers and cargo carriers exiting with Iranian exports, ahead of a U.S. naval blockade that took effect Wednesday.
Global benchmark Brent crude has fallen below $72.48 a barrel, the price before US and Israel launched attacks on Iran on 28 February, as traffic through the Strait of Hormuz resumes following a US-Iran Memorandum of Understanding on 17 June for nuclear negotiations and measures to end the war.
The UN's International Maritime Organization plans a large-scale evacuation of more than 11,000 sailors stranded in the Gulf due to the US-Israel war against Iran, working with Iran, Oman, the US, and other regional partners. An interim deal was signed to end the conflict, but the US and Iran continue to dispute details of the Memorandum of Understanding, particularly regarding nuclear inspections and missile provisions.
The U.S. is entering peak summer driving season amid a gasoline supply crunch, as refiners prioritize diesel and jet fuel exports to address global shortages from Strait of Hormuz disruptions, while domestic demand remains robust despite pump prices surging roughly 40% since the war started. Gasoline inventories sank to their lowest seasonal level in a decade at 215.1 million barrels in early June, with analysts warning of a supply deficit.
Nigeria's Dangote Petroleum Refinery has ramped up crude processing to 700,000 barrels per day during a performance test, exceeding its nameplate capacity of 650,000 bpd, with plans to expand to 1.4 million bpd within 30 months. The refinery, which began producing fuel in 2024, supplies domestic markets and exports to African countries, Europe, and beyond.
A 26-year-old sailor survived a missile strike on the US-sanctioned oil tanker Skylight in the Strait of Hormuz on 1 March, the first commercial vessel hit since the US-Israel war with Iran began. His friend Dalip has not been found, despite a rescue operation by the Oman Navy.
Iraq has offered term buyers May-loading Basrah crude at steep discounts for loading inside the Strait of Hormuz, which has been largely blocked since the Iran conflict began. The discounts — $33.40 and $26 per barrel for Basrah Medium, and $30 per barrel for Basrah Heavy — reflect mounting pressure on Iraqi crude exports amid persistent shipping risks in the waterway.
China's Ministry of Commerce issued a "prohibition order" to block US sanctions placed on five Chinese refiners accused of purchasing oil from Iran, calling the American measures a violation of international law and ordering the sanctions not be recognized or enforced.
Brent crude rose to its highest level since 2022, touching $126.31 a barrel, after reports that the US military plans to brief President Trump on potential military action against Iran. Energy prices have been rising as peace talks stall and the Strait of Hormuz remains effectively closed, with about 20% of the world's oil and LNG typically passing through the waterway.