Topic
oil
Logistics Iran Blacklist Threatens Hormuz Shuttle Tanker Lifeline for Gulf Crude
Iran's blacklisting of 12 VLCCs at the core of the Hormuz shuttle trade threatens a workaround moving roughly one-third of Middle East Gulf crude exports. Three Indian refiners and a global energy major plan to stop using the vessels, and Braemar warns remaining Hormuz tonnage will command higher premiums.
Technology AI could unlock $230 billion annually in upstream oil and gas: McKinsey
A McKinsey & Company report estimates artificial intelligence could unlock approximately $230 billion in annual value in global upstream oil and gas at full potential, with $65 billion achievable near-term using current technology. Most of the opportunity is concentrated in a small number of use cases, while oilfield services companies face up to $60 billion of revenue exposure.
Logistics Strait of Hormuz shipping traffic slightly rises amid Iran-Oman talks
Visible commodity vessel transits through the Strait of Hormuz rose to 10 on Wednesday from eight on Tuesday, according to Kpler data reported by Reuters, but remained below the 10-day average of about 15 vessels. Iran and Oman are still working on agreement details, while traffic at the Bab el-Mandeb strait slowed for a second day to 19 vessels.
Commodities Brent crude remains above $90 per barrel as Hormuz operations remain disrupted
Brent crude held above $90 per barrel in early Thursday trade, up 0.41% to $92, while WTI rose 0.32% to $84.66, as the US-Iran war and Strait of Hormuz disruption kept the risk premium intact. Conflicting US and Iranian statements on the strait's status slowed shipping, while the UAE suspended financial transactions with Iran. Meanwhile, US crude inventories climbed 4.4 million barrels, topping expectations for a 600,000-barrel draw.
Commodities Diesel Prices Above $5.60 as Refining Crisis, Not Crude, Drives Market
On-road diesel prices hit the high $5.60s as crack spreads surged above $100 per barrel, far beyond the normal $15–$25 range, according to a FreightWaves interview with Aaron Decker, CEO of Multi-Service Fuel Card. Decker said the problem is refining capacity, not crude, with Ukrainian drone strikes and record-low distillate inventories tightening supply. He expects diesel to remain above $5 for the foreseeable future.
Commodities Indian refiners widen oil search as Ukrainian attacks hurt Russian crude flows
Indian refiners are cutting Russian crude purchases after Ukrainian attacks disrupted export flows, turning to West Africa, the Americas and the Persian Gulf for replacement barrels. Imports of Russian crude are expected to fall to about 2 million barrels a day this month, down from around 2.8 million in July, according to Kpler.
Logistics Iran blacklists 45 tankers over Strait of Hormuz rules amid fresh US sanctions threat
Iran's Persian Gulf Strait Authority has blacklisted 45 tankers for allegedly violating its rules for transiting the Strait of Hormuz, threatening fines, detention and cargo confiscation. The list includes vessels linked to ADNOC L&S, Navig8 Tankers, Bahri, Klaveness, Stolt Tankers and Sinokor. The move escalates tensions weeks after the US threatened 'the toughest sanctions in history' against Iran.
Commodities Benchmark diesel price is now highest since war began
The DOE/EIA average weekly retail diesel price rose 19.8 cents/gallon to $5.652/g, its highest level since military action against Iran began in early March. ULSD futures on the CME reversed course, falling 22.72 cents/gallon after Treasury Secretary Scott Bessent signaled a shift to economic pressure on Iran. Bullish diesel-specific factors including Ukrainian strikes on Russian refineries continue to underpin the market.
Commodities Wars and Export Curbs Now Hit More Than 43% of World's Oil Supply
Wars, attacks and export curbs now touch more than 43% of the world's oil supply, equal to about 45 million barrels a day of 2025 production, according to Reuters calculations based on IEA data. The Gulf disruption alone is estimated at 5–7 million barrels per day, while conflicts have cut global refining capacity by a tenth. With IEA emergency stockpile releases largely complete and inventories declining, crude and fuel markets face a thinning safety buffer.
Commodities India emerges as new ‘swing supplier’ of refined oil products as Middle East crisis reshapes
India is emerging as a global 'swing supplier' of refined oil products, with Singapore becoming its largest export destination at $4.3 billion. Refinery capacity expansion, discounted Russian crude and supply disruptions in Russia and the Middle East are driving the shift, according to Business-Today.
Commodities India readies year-wise drilling, rig deployment roadmap for Samudra Manthan
India’s Oil Ministry is finalising a year-wise roadmap for drilling, seismic surveys and rig deployment under the $8.8 billion Samudra Manthan offshore exploration scheme. The programme, backed by ₹84,000 crore in Phase-1 funding, targets 10-15 million tonnes of oil equivalent of incremental annual production.
Commodities Equinor, Aker BP and Vår Energi join forces on Norwegian Continental Shelf exploration
Equinor, Aker BP and Vår Energi have formed a strategic exploration collaboration on the Norwegian Continental Shelf. They plan to mature and test 20-25 opportunities over four to five years, aiming to drill around five high-impact wells annually. The effort supports reliable European energy supplies amid an expected post-2035 production decline.
Commodities India's July Crude Oil Imports Rise Over 9% Month-on-Month, PPAC Data Shows
India's crude oil imports rose more than 9% month-on-month in July 2026, and 13% year-on-year, according to PPAC data cited by The Economic Times. Product exports rose over 8%, while fuel consumption hit a four-month high of 19.92 million metric tons. Refiners are facing a crude cost surge as Gulf premiums rise and Russian discounts vanish, the report added.
Commodities Indian Refiners Forced to Buy Oil at Premium as Russian Discounts Vanish
Indian refiners are paying sharply higher premiums for Gulf and West African crude as the Middle East conflict tightens physical supply, while discounts on Russian and Venezuelan oil have narrowed or disappeared. Brent futures have risen about $10 a barrel in two weeks, and US Senate tariff legislation could add further pressure on global supplies.
Commodities US-Iran War Oil Shock: How Long Can the World and India Absorb It?
The US-Iran war has caused one of the biggest oil supply disruptions in history, but crude prices have only spiked modestly so far, according to Business Today. The IEA released 400 million barrels from emergency reserves, while the EIA forecasts prices will stay elevated until early 2027. India and the global economy face an uncertain period if the conflict continues for another six months.
Commodities Oil rises as Iran signals offensive stance, US rules out ceasefire extension
Oil prices climbed on Tuesday as Iran signalled a fully offensive military posture and the US ruled out extending a temporary ceasefire, heightening supply worries. Brent rose 0.3% to $91.14 a barrel while WTI gained 42 cents to $85.04, with Hormuz vessel transits falling to five on Saturday and none on Sunday.
Commodities Russia faces fresh fuel shortages as refinery attacks disrupt supplies
Fuel shortages have resurfaced in parts of Russia, with at least 10 regions tightening petrol sales restrictions after fresh drone attacks on refineries, according to Business Today. Petrol was unavailable at some Moscow filling stations, and wholesale gasoline sales on the St Petersburg International Mercantile Exchange fell 20% since the beginning of August.
Logistics Wary of Red Sea Risks, Asian Refiners Push Saudi Aramco to Shift Crude Loadings
Asian refiners are reluctant to lift Saudi crude at Yanbu on the Red Sea and have asked Aramco to switch September cargoes to Egypt's Sidi Kerir. The shift follows Houthi attacks on tankers, and higher Africa-rerouting costs could push at least one refiner to skip its monthly allocation.
Logistics Dark Transits Keep Hormuz Oil Flowing as ADNOC Vessels Face New Attacks
Hormuz oil flows persist near 9 million barrels per day despite fresh attacks on ADNOC ships, as risk-tolerant tankers run dark and transfer cargo to mainstream operators off Oman. Satellite data shows ~150 vessels floating off Oman, up from ~40 in January, while ADNOC reports 19 vessels attacked. The Joint Maritime Information Center rates the threat as severe.
Commodities Oil Holds Steady as Strait of Hormuz Nears Zero Traffic; Iran-US Talks Stall
Brent crude edged up 0.42% to $88.89 and WTI rose 0.21% to $82.57 as vessel traffic through the Strait of Hormuz nearly halted over the weekend. Kpler data showed only five commodity vessels crossed on Saturday and none on Sunday, versus 31 the prior weekend, while Iran-US talks remained stalled.
Commodities India cooks up LPG safety net: Govt fixes refinery-wise output targets; Reliance gets biggest quota
India's petroleum ministry has, for the first time, fixed maximum LPG output targets for 21 refineries and upstream companies, capping combined output at 63,810 tonnes per day. Reliance Industries' Jamnagar DTA refinery gets the largest single quota of 18,000 tonnes a day, while imports had covered over 64% of demand before the Iran war shut the Strait of Hormuz.
Commodities Demand destruction cushions impact of geopolitical oil spikes
Global crude prices have stayed remarkably stable during the largest oil supply shock in decades, according to Alpine Macro's Kelly Xu. Four buffers—demand destruction, non-Gulf supply growth, alternative export routes, and strategic inventories—rebalanced the market and cushioned India's inflation. Indian refiners retain leverage on Russian crude, though discounts have narrowed.
Logistics Minsheng steps up tanker push with $500m VLCC order at Jiangsu New Hantong
Minsheng Financial Leasing has ordered four 319,000 dwt VLCCs at Jiangsu New Hantong in a deal worth about $500m, tied to Clearlake Shipping. The Chinese lessor also expanded its Shell-backed MR tanker programme to 11 vessels and is building four LNG carriers for Shell Singapore.
Commodities Oil prices today: Crude edges higher as US-Iran tensions revive supply concerns
Oil prices edged higher on Friday as the US threatened to maintain a naval blockade of Iran indefinitely, reviving supply concerns. Brent rose 0.1% to $87.16 a barrel, while WTI gained to $81.29, although weaker demand forecasts and rising US inventories capped upside. OPEC and the IEA lowered demand growth forecasts this week, and US crude inventories posted their largest weekly rise in over 3.5 years.
Commodities US Gulf of Mexico Lease Sale BBG3 Rebounds but Still Far Short of 2025 Record
The third Big Beautiful Gulf lease sale yielded $82.7m in high bids for 59 blocks, rebounding from March's weak result but still less than a third of the December 2025 record. The Marine Minerals Administration said bidding remained highly selective, with 16 companies focusing on a narrow set of prospects, while the Trump administration faces pressure over oil prices linked to the war in Iran.
Commodities India to expand strategic petroleum reserves with new caverns in Madhya Pradesh, Rajasthan
India is expanding its strategic petroleum reserves with new caverns at Bina in Madhya Pradesh and Bikaner in Rajasthan, plus added capacity at Mangalore, according to Business Today. The government-owned Indian Strategic Petroleum Reserves Ltd has completed feasibility studies for the sites, while Phase-II projects at Padur and Chandikhol progress. The parliamentary standing committee has urged the ministry to work toward the 90-day crude storage benchmark.
Commodities HPCL buys 4 million barrels of West Asian crude through spot tender, traders say
HPCL has bought 4 million barrels of West Asian crude through a spot tender, with BP supplying 2 million barrels of Murban, PetroChina 1 million barrels of Murban, and Trafigura 1 million barrels of Oman crude, according to Reuters. Murban delivered was priced about $7 per barrel above dated Brent, while Oman was about $4-5 above. The cargoes are scheduled to arrive around early October.
Commodities Oil Prices Slip as OPEC Cuts 2026 Demand Forecast; Iran War Keeps Supply Risks Alive
Oil prices slipped more than $1 on Thursday as OPEC cut its 2026 global demand growth forecast to 580,000 bpd and the IEA lowered its consumption outlook, while US crude inventories posted their biggest weekly build since January 2023. Brent fell 0.92% to $88.16/bbl and WTI fell 1.07% to $82.38/bbl. Middle East supply risks from attacks on shipping in Hormuz and Bab el-Mandeb and stalled Iran-US talks kept the downside limited.
Commodities Why Global Diesel Prices Are Soaring: War, Hurricanes & Drone Attacks
Wholesale diesel prices have climbed to roughly $180 a barrel, with Gulf Oil's Tom Kloza warning that a US Gulf hurricane could push them past $200. Drone strikes on refineries in Russia, Saudi Arabia and Libya have tightened an already short global refining market, while record US distillate exports and EIA-linked fuel surcharges add to the strain, according to FreightWaves.
Commodities Russia Buys Gasoline from India for First Time as Refinery Strikes Bite
Russia has imported gasoline from India for the first time, according to Kpler data cited by Bloomberg, as Ukrainian attacks on refineries cut domestic supply. Nayara Energy Ltd, backed by Rosneft, is supplying the fuel from its Vadinar refinery, with shipments routed via ship-to-ship transfers off Egypt's coast. Analysts say the flows highlight the severity of Russia's domestic gasoline imbalance.
Logistics UAE's Adnoc offers shuttle service for Iraqi oil exports through Strait of Hormuz
According to Bloomberg, Adnoc is offering to shuttle Iraqi oil exports through the Strait of Hormuz using dark-transit tactics. Iraq's SOMO has cut Basrah Medium prices by $25–$27 a barrel for Hormuz-bound volumes, while exports jumped to about 2 million bpd this month.
Commodities Drone Strikes Put Libya's Zawiya Oil Hub at Risk as NOC Warns of Force Majeure
Repeated drone attacks on Libya's Zawiya oil complex have hit fuel storage, a naphtha tank and power infrastructure, according to Splash247. NOC warns continued strikes could force a halt at the 120,000 bpd Zawiya refinery and trigger force majeure. The complex is connected to the 300,000 bpd Sharara oilfield, adding risk to Mediterranean crude and product trades.
Commodities Oil Rises on US-Iran Deal Doubts as Supply Concerns Intensify
Oil prices rose on Wednesday as doubts over a US-Iran peace deal and ship attacks in the Strait of Hormuz and Bab el-Mandeb stoked supply concerns, according to Reuters. Brent climbed 0.84% to $89.66 a barrel and WTI rose 0.87% to $83.92, despite API data showing a 9.1 million barrel build in US crude inventories. The EIA expects 600,000 bpd of Middle East supply disruptions to persist through 2027.
Commodities Arabian Drilling to resume remaining suspended offshore rigs as recovery strengthens
Arabian Drilling, Saudi Arabia's largest onshore and offshore drilling company by fleet size, has received notice to resume operations for its remaining suspended offshore rigs, according to Splash247. The resumption reflects continued recovery in offshore market activity and is expected to lift offshore fleet utilisation to 100% by the end of Q3 2026.
Commodities Oil Prices Rise Over 2% as US-Iran Peace Hopes Fade on Hormuz
Oil prices rose over 2% on Tuesday as hopes of a US-Iran peace deal weakened. Brent crude hit $89.806 per barrel, up 2.1%, while US crude stood at $84.386, up 2.3%, after President Trump said Washington would seek reparations from Tehran and asserted US Navy control over the Strait of Hormuz. Tehran had linked reparations to reopening the strait, lifting sanctions, and ending naval blockades.
Commodities Offshore project sanctioning nearly doubles as operators ramp up spending
Global offshore oil and gas field development investment is set to reach $137bn in 2026, a 30% year-over-year increase, with first-half FIDs up 90% to 38 projects. Westwood reports a more balanced spending cadence and a shift toward floating platform EPC, with Latin America overtaking the Middle East as the largest regional market.
Commodities Beijing’s Billion-Barrel Weapon: Why India Must Prepare for China-Driven Oil Prices
China has amassed up to 1.4 billion barrels of oil in strategic and enterprise-controlled inventories — more than three times the US Strategic Petroleum Reserve — giving Beijing price-making power as a global swing buyer. Business Today reports that India must prepare for China-driven crude price swings as Beijing’s opaque reserve policy becomes a core market variable.
Commodities ONGC and Shell Energy India sign MoU for deepwater blocks and LNG sourcing
Oil and Natural Gas Corp (ONGC) and Shell Energy India Private Ltd have signed a non-binding memorandum of understanding to jointly assess deepwater and ultra-deepwater offshore blocks under India's Open Acreage Licensing Policy, including OALP Rounds X and XI, and to explore LNG sourcing opportunities. The agreement, signed August 10, sets a framework for cooperation without committing either company to any specific investment or project.
Commodities India diversifies energy sourcing amid geopolitical risks; taps 15 countries for LNG, 41 for crude
India has expanded LNG imports to 15 supplier countries and crude oil to 41, up from six and 27 respectively, per a Rajya Sabha reply reported by Business Today. The diversification aims to cut dependence on any single country, region, or transit route amid geopolitical and maritime risks. India is also building additional strategic crude storage, including new reserves at Chandikhol and Padur plus an ONGC project in Karnataka.
Commodities ADNOC Suffers Sixteenth Hit as Houthis Strike Saudi Refinery
Iran attacked another ADNOC vessel in the Strait of Hormuz over the weekend, marking the sixteenth hit on the UAE energy major's fleet, while Houthis struck Saudi Aramco's 400,000 bpd Jazan refinery. Precious Shipping received $10.9m in war-risk cover for the lost bulker Mayuree Naree. Negotiations to reopen Hormuz remain deadlocked, according to Splash247.
Commodities Brent crude jumps over 1% as traders await Strait of Hormuz reopening
Brent crude jumped 1.32% to $84.65 a barrel while WTI rose 1.04% to $78.99 as traders assessed delays in reopening the Strait of Hormuz, according to Business Today. An Iran-Oman shipping-lane deal is in its final stages but tied to US concessions, while Houthi attacks on Saudi Aramco's Jazan refinery added supply risk.
Commodities Onion, Oil or Chicken: What Made Your Thali Costlier in July
A Crisil Intelligence report released Friday showed India's home-cooked vegetarian thali cost 4% more in July year-on-year, while a non-vegetarian thali was 9% costlier. Onion prices jumped 23% month-on-month on tight rabi stocks after Maharashtra's unseasonal rain and hailstorms, while broiler chicken fell 2% month-on-month. Vegetable oil, LPG and chicken prices all rose year-on-year, with potatoes and tomatoes providing some relief.
Logistics ADNOC L&S spends $1.3bn on six VLCCs and five VLGCs in tanker swoop
ADNOC Logistics & Services has committed $1.3bn to acquire 11 tankers — six VLCCs and five VLGCs — via secondhand and newbuild resale deals. Nine ships arrive in Q3, two VLGC newbuild resales in Q4, lifting its VLCC fleet to 14 and VLGC fleet to 12.
Logistics China Merchants Energy Shipping exercises option for second DSIC shuttle tanker
China Merchants Energy Shipping has exercised an option for a second 154,000 dwt shuttle tanker at Dalian Shipbuilding Industry Co, confirming a two-ship debut in the specialised sector. The pair is valued at about RMB1.79bn with delivery in 2028. The order is part of a larger tanker newbuilding programme including ten VLCCs and five aframaxes.
Logistics Strait of Hormuz Reopening Hinges on Iran-Oman 60-Day Framework Deal
A U.S.-Iran standoff has cut Strait of Hormuz transits to eight vessels on Aug. 5, down from 100-plus daily before the conflict, while Iran and Oman finalize a proposed 60-day reopening framework, according to FreightWaves. The plan would route inbound vessels near Iran and outbound vessels on an Omani-side route with no transit fees, but a return to normal tanker, LNG and container flows requires weeks of incident-free transits, clear routing protocols and a stable U.S.-Iran agreement.
Commodities Chevron and Williams Bet Big on Data Centers as AI Fuels Gas Demand
WIRED reports that Williams and Chevron are expanding natural gas infrastructure for data centers as AI demand grows. BloombergNEF says US gas production must rise 36% by the mid-2030s. The plants could emit up to 21 million tons of greenhouse gases annually, according to permit applications.
Commodities Shell Greenlights Malikai Phase 3 in Malaysia to Lift Oil Output 60%
Shell's Sabah Shell Petroleum Company has taken a final investment decision on Phase 3 of the Malikai deepwater field offshore Malaysia, according to Splash247. The project will drill four wells, raising output by 60% to roughly 40,000 barrels per day, with first production expected in Q3 2028. The FID supports Shell's aim of sustaining around 1.4 million barrels per day of liquids production towards 2030.
Commodities Nigeria Targets Up To $50bn In New Upstream Oil And Gas Investment
Nigeria is targeting between $30bn and $50bn in new upstream oil and gas investment over the next five years, with 22 major offshore projects expected to move forward between 2026 and 2030. The Nigerian Upstream Petroleum Regulatory Commission has approved more than $57bn in field development plans since 2024, according to Splash247.
Commodities Oil Ministry to Deploy Tactical Teams for Petrol Pump Inspections to Curb Fuel Adulteration
Team Bharat announced the Oil Ministry has agreed to deploy Tactical Crack Teams to inspect petrol pumps 8-12 times daily to curb fuel adulteration. Fuel quality monitoring will detect moisture, chloride and other adulterants, while E20 implementation talks continue with next week's meeting.
Commodities Fugro wins three-year deepwater ROV contract for ONGC drilling campaign
Fugro has been awarded a three-year contract to provide ROV-based deepwater drill support services for ONGC's offshore drilling operations in India, according to Splash247. The work, awarded by Vantage, covers the 2010-built Platinum Explorer drillship in depths up to 3,000 metres. The campaign supports ONGC's deepwater exploration programme aimed at boosting India's domestic oil and gas production.
Commodities TGS Launches 34,000 km Seismic Reimaging Project Offshore Egypt
Oslo-listed TGS and Egypt's EGAS have commenced the EGY-2DRE2026 project, covering 34,000 km of 2D seismic reimaging offshore Egypt. The industry-funded project combines GeoStreamer surveys from 2016, 2018, and 2023, with deliveries scheduled for Q2 2027 and Q1 2028.
Commodities Brent falls to $80 as India vows to mitigate fuel price volatility
Brent crude slipped below $80 a barrel on Tuesday to a three-week low, down nearly 5% in a day on optimism over reopening the Strait of Hormuz. India's PPAC pegged the Indian basket at $88.12/barrel. The government said it will continue fiscal and administrative measures to mitigate future fuel price volatility, with minister Pankaj Chaudhary citing a $138.2/barrel April peak and a Rs 10/litre excise cut.
Business ONGC Q1 Net Profit Doubles to Rs 17,034 Crore on Higher Crude Prices
ONGC reported a more than two-fold rise in Q1 FY27 net profit to Rs 17,033.81 crore, driven by higher crude oil realisations that rose to $99.45 per barrel. Total income climbed to Rs 48,321.65 crore, while oil and gas production declined marginally. The state-run firm also spudded its first deepwater well in the Mahanadi basin under the Samudra Manthan programme.
Commodities Oil prices fall to three-week low on hopes Strait of Hormuz could reopen
Oil prices fell to a three-week low on Tuesday as US officials said talks with Iran on reopening the Strait of Hormuz had progressed, according to BBC Business. Brent crude dropped almost 5% to under $80 a barrel, while West Texas Intermediate fell more than 5% to $76, with both contracts at their lowest since 13 July.
Commodities BP posts $5.73bn quarterly profit as Iran war lifts Brent crude to $103.85
BP reported a $5.73bn quarterly profit, more than double a year earlier and its highest since the Russia-Ukraine war began, after the Iran war disrupted oil and gas flows through the Strait of Hormuz. Brent crude averaged $103.85 a barrel in the quarter, up from $67.88. CEO Meg O'Neill plans to sell Archaea and BP's North Sea business.
Commodities US moves to ease Arctic offshore drilling rules with new Interior proposal
The US Department of the Interior has proposed a rule through the Marine Minerals Administration to modernize federal regulations for exploratory oil and gas drilling on the Arctic Outer Continental Shelf. The proposal revises the 2016 Arctic Exploratory Drilling Rule, updating requirements on blowout preventer monitoring, source control, and relief rig capability, while supporting President Trump's executive order to develop Alaska's resources.
Commodities BP exit puts fresh pressure on UK over Jackdaw and Rosebank
BP's decision to sell its North Sea business has prompted the Aberdeen & Grampian Chamber of Commerce to urge UK ministers for swift approvals of the Jackdaw and Rosebank developments. The chamber warns that prolonged policy uncertainty would erode investor confidence and push oil and gas demand toward higher-emissions imports.
Logistics Tanker Asset Values Stay Red Hot as Sale and Purchase Activity Accelerates
Tanker asset values remain red hot heading into August, with sale and purchase (S&P) activity accelerating across chemical, VLCC and LR2 segments, according to Splash247. Reported deals include Nisshin Shipping's $30m chemical tanker sale, CMB.TECH's ninth VLCC sale at about $122.8m, and Velos Tankers' LR2 sale at $50m. The transactions underline sharply rising asset values and robust demand for both modern and vintage tonnage.
Commodities India commits $8.8bn to accelerate offshore oil and gas exploration
India approved an investment programme worth up to 840.84bn rupees ($8.8bn) to accelerate offshore oil and gas exploration over five years, with the goal of adding more than 600m tonnes of discoverable oil equivalent. The National Offshore Exploration Scheme will run until end of the 2030-31 financial year and aims to reduce India's dependence on imported energy.
Logistics Tankers Face Fresh Hormuz Threats as Diplomacy Resumes, Houthis Deny Bab al-Mandab Tolls
Fresh threats and explosions in the Strait of Hormuz are disrupting tanker traffic, with two Liberia-flagged tankers reporting attacks and an LNG carrier left inoperable. The Houthis denied imposing tolls at Bab al-Mandab, while Gulf exporters accelerate alternative routes and war-risk cover remains uncertain.