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COST OF OIL SHIPPING
Saudi opens oil taps for Asia as India, China hunt crude amid Iran war, Hormuz crisisSaudi Arabia has sold almost 100 million barrels of crude to Asian buyers, including refiners in India and China, helping ease supply conce...- Shipping traffic via Strait of Hormuz stays lower than 10-day average, data showsOn Wednesday, ten commodity vessels traversed the Strait of Hormuz, slightly increasing from the previous day's count. This number remains ...
- Gulf nations have found ways to keep oil flowing through the Iran war, but the costs are mountingIran's closure of the Strait of Hormuz initially raised concerns about soaring oil prices impacting the global economy. However, Gulf produ...
- A Bangladeshi garment maker is stitching its way through the Middle East energy crunchEnergy shortages are disrupting production at most Bangladeshi garment factories. Buyers are canceling or reducing orders due to these powe...
- Oil’s sea lanes get tougher to navigate; India must press Iran to ease Hormuz blockadeSea lane disruptions in the Red Sea and Persian Gulf impact India's oil imports significantly. India faces challenges securing oil from Wes...
- Hormuz shuttles keep oil flowing, but at a high costMiddle East oil producers are increasingly using ship-to-ship (STS) transfers off Oman to keep crude exports moving despite disruptions fro...
- US Market: Fed's Kashkari says US inflation still too high despite rate hikeMinneapolis Fed President Neel Kashkari said US inflation remains too high and is broad-based, extending beyond recent energy price increas...
- The Other Hormuz: Black Sea blockade threatens a food supply shockCombined Russian and Ukrainian wheat exports are estimated to end up at roughly half what they were last year for the July to September har...
- Bangladesh raises fuel prices by up to 17% amid global oil price surgeBangladesh has raised fuel prices by up to seventeen percent. This move piles fresh pressure on consumers and businesses already struggling...
- World running short of supertankers threatens long-haul oil flowA shortage of supertankers, driven by the US-Iran conflict and a South Korean tycoon's big shipping bet, has pushed freight costs to record...
- Crude Oil Above $100: Can Saudi Arabia’s export disruption trigger a new global energy shock?Crude oil has crossed $100 a barrel as Saudi Arabia faces disruptions to its alternative export route following attacks on the East-West Pi...
- Aramco closes supply tap for Indian refiners, new oil barrels to cost moreSaudi Arabia has sold some spot cargoes to traders expected to deliver small volumes to Indian refiners through Hormuz. The risk-taking tra...
- Russia squeezed, Saudi route hit, China circles: Why India's oil bill could get heavierIndia is encountering soaring costs for crude oil imports due to ongoing global supply chain issues. Disruptions in Saudi oil export infras...
- US military says it destroyed 2 small Iranian boats trying to steal a sea droneThe US military destroyed two Iranian boats attempting to seize a drone ship. This incident occurred in waters off Iran, escalating recent ...
- US crude shipping costs to China hit record as Middle East war disrupts oil flowsShipping costs for US crude oil to Asia have reached record highs. This surge is driven by Middle East energy flow disruptions and increase...
- Oil tankers earn $1 million a day as war leaves ship shortageThe supersized earnings also partly reflect oil-refining margins that have spiraled out of control because wars in Iran and Ukraine mean wo...
- What the closure of Saudi Arabia's East-West pipeline means for oil flowsSaudi Arabia closed a major oil pipeline after a drone attack, raising global energy shortage fears. This closure threatens to remove milli...
- When it comes to crude oil prices, it's all about location, location, locationCrude oil prices show a significant divergence as conflict escalates in the Middle East. Barrels facing transit risks are heavily discounte...
- Oil tanker rates hit record highs following Iran, US shipping attacksOil shipping rates from the Gulf of Oman to China have reached record highs this week. This surge follows recent attacks on shipping and mi...
- Why is the Bab el-Mandeb Strait so important?Iran-backed Houthis aim to control Yemen's Red Sea coast and Bab el-Mandeb strait. This strategic waterway connects Asia to Europe via the ...
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