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25 articles
Saudi Arabia's Petroline shut down September 11. European refiners lost Arab Light allocations with no substitute at scale. Johan Sverdrup premium hit a record $24.05/bbl.
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.
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.
Eight members cut 1.65 million barrels per day in 2023. The UAE left in May 2026 with 3.5 mb/d of baseline. Here is how the quota system works.
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 takes a 55% stake in about a fifth of Venezuela's oil, with nearly $100 billion pledged in investment. Eight months after January's military operation, the deal.
Venezuela is exploring an OPEC exit after discussing the idea with US officials, Bloomberg reported. No final decision has been taken.
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.
The UAE imposed an indefinite trade embargo on Iran on August 19, 2026, after detecting two ballistic missiles allegedly launched from Iranian territory toward the Gulf.
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.
IEA deepens 2026 oil supply cut to 5.7 million bpd, 35% steeper than August, as Gulf recovery slips to 2027 and inventories hit their lowest since 2023.
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