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21 articles
Saudi Aramco has told all European term customers they will receive no crude oil in October after a drone attack shut the East-West pipeline, sending barrels to Asia instead.
Trump announced a Ukraine-Russia energy ceasefire, pressing Zelenskyy to halt strikes on Russian diesel refineries as exports fell 81 percent below the five-year average.
Libya's NOC said it may declare force majeure after oil guards closed a valve on the Hamada-Zawiya pipeline, halting two fields and a pumping station.
European gas jumped 6 percent to €84.07 per MWh, the highest since December 2022, as the Saudi pipeline shutdown deepened a supply crisis with storage at a record low.
Houthis tighten their grip on Bab el-Mandeb: Brent at $108 and European gas at EUR 83.92, up 161% in a year. Goldman Sachs sees $120.
Saudi Arabia cancels crude cargoes to Europe as the East-West pipeline and Strait of Hormuz remain shut. Brent surges to $108, European refiners scramble for alternatives.
Houthis seize Yemen's Mocha and Bab al-Mandeb strait, sending Brent above $107. S&P 500 falls, OPEC cuts 2026 demand forecast.
OPEC Plus will hold October output steady after six consecutive monthly increases, pausing the unwind of 1.65 million bpd of voluntary cuts as the Strait of Hormuz remains closed.
US diesel hits record 5.85 dollars per gallon, surpassing the 2022 peak, as the Iran war disrupts global fuel supply and pushes up transport costs.
Hormuz traffic collapses to just 10 ships a day as US diesel hits record $5.90 per gallon and Brent settles at $97.92 after briefly topping $100.
Houthi attacks hit Saudi Aramco facilities as Iran threatens US energy retaliation. Brent crude surges to six-week high near $100 as Goldman Sachs raises forecasts.
The US has unveiled over 60 new sanctions on Iran's global financial networks, threatening secondary penalties for countries still trading with Tehran.
Shipping a tanker through the Strait of Hormuz now costs about 20 million dollars, or roughly 10 a barrel. With Brent above 90, traders and shipowners reap record margins.
Brent crude drops 2.6 percent to $86.28 per barrel as Iran-Oman Hormuz corridor talks trim the war-risk premium after a 9.6 percent weekly decline.
Trump rules out extending Iran MOU as Brent jumps 2.4% to $90.60, WTI climbs 2.2% to $84.20. Iran seizes a UAE-owned tanker in the Strait of Hormuz, escalating Gulf maritime tensions.
OPEC cut 2026 demand growth forecast to 380,000 bpd in its fifth straight monthly downgrade, while raising 2027 outlook on hopes of a post-war recovery.
Brent October futures hit $90 a barrel on August 11, up 2.6 percent, as Iran keeps the Strait of Hormuz closed; Houthi missile attacks at Bab al-Mandeb and drone strikes on Libyan facilities at Zawiya add to supply fears, and Trump does not rule out escalation.
U.S. President Donald Trump demanded on Monday that Iran pay compensation for people he said were killed in wars, attacks and protests, a move that is expected to complicate efforts to reopen the Strait of Hormuz and sent Brent crude higher.
Iranian Foreign Minister Abbas Araghchi says the Strait of Hormuz will not reopen without US concessions: Brent rises more than 1 percent to 84.43 dollars, with strait transits collapsed to 8-15 vessels a day.
A preliminary draft proposal between Iran and Oman would bar US and Israeli vessels from transiting the Strait of Hormuz until war damages are compensated, with fines of up to 20 percent of a cargo's value. Brent crude rose 1.2 percent to 83.48 dollars a barrel.
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