Strait of Hormuz

Oil headed for a weekly gain above 6 percent as US-Iran fighting resumed, while US diesel prices hit a record high, fuelling fresh global inflation fears.

Oil prices hit a three-week high on Wednesday as uncertainty over shipping through the Strait of Hormuz and continuing supply disruptions supported the market.

Shipping through the Strait of Hormuz slowed over the weekend after tanker attacks, with only five commodity vessels crossing on Saturday and none on Sunday.

At least four Asian refiners bought US crude this week as the blocked Strait of Hormuz forced them to secure alternative supplies beyond the Gulf.

KEY POINTS The prolonged blockade of the Strait of Hormuz has completely reshuffled the global oil order. Satellite imagery analyzed by German business publication WirtschaftsWoche and earth observation firm LiveEO …

KEY POINTS Global natural gas markets are facing renewed pressure as escalating tensions in the Middle East threaten the stability of liquefied natural gas, LNG, supply chains, raising concerns over …

KEY POINTS Oil prices fluctuated sharply on Friday, ultimately closing mixed. Brent crude rose slightly to $105.33 per barrel, while U.S. West Texas Intermediate (WTI) fell to $94.40. Despite the …

The USS George HW Bush is sailing in Namibia’s exclusive economic zone as it moves toward the Arabian Sea amid tensions over the Strait of Hormuz.

South Africa’s fuel industry is rerouting imports away from the Arabian Gulf, securing April-to-June shipments from West Africa, the Atlantic Basin and Asia.

KEY POINTS Global oil prices rose by more than 1% on Thursday, recovering from earlier losses as traders grew increasingly doubtful that ongoing diplomatic efforts between the United States and …