Three Saudi crude oil tankers bound for China and India reversed course in the Red Sea, heading for the Suez Canal after Yemen's Houthi militia warned against using Saudi ports, signaling disruptions to global energy supplies and trade.
South Korea's Finance Minister Koo Yun-cheol urged vigilance against potential energy supply disruptions due to renewed Middle East geopolitical tensions, vowing preemptive measures to maintain stable supplies and export momentum.
Prime Minister Narendra Modi addressed the media before the Monsoon Session, emphasizing Indian youth's aspirations and national achievements like Skyroot's rocket launch. He urged the opposition to use logic in Parliament, while also taking a veiled swipe at Rahul Gandhi amid protests over issues like the NEET-UG paper leak.
An attack by Iranian forces on a Cyprus-flagged ship with Indian crew has heightened concerns among shipping lines and seafarers' organizations, raising worries about fuel and fertilizer supply disruptions through the Strait of Hormuz.
US liquefied natural gas (LNG) exporters, like Venture Global, are experiencing significant profit increases due to supply disruptions caused by the Iran war. Venture Global reported a 69% jump in its liquefaction fee, driven by higher global prices and a supply gap created by choked-off Qatari exports.
Oil prices fell Thursday as mediators work to prevent escalation between the U.S. and Iran. Brent crude futures closed at $76.30/barrel and WTI at $72.08/barrel after rising earlier due to U.S. strikes.
Oil prices dropped Thursday as mediators worked to prevent escalation between the US and Iran. Brent crude futures fell to $75.78 and WTI to $71.57, after earlier gains driven by US strikes and Iranian retaliation. Analysts suggest a "new normal" of skirmishes rather than a full closure of the Strait of Hormuz.
Oil prices dropped Thursday as markets anticipated that U.S. strikes on Iran would not escalate into a full-scale war. Brent crude futures fell 1.3% to $76.98, and WTI futures dropped 1.6% to $72.38.
Oil prices surged Thursday following new U.S. military strikes on Iran, escalating fears of supply disruptions in the Middle East. Brent crude and WTI futures advanced, with analysts citing the Strait of Hormuz's critical role in global energy flows.
Global oil prices surged over 1% as US President Trump declared the ceasefire with Iran "over" and fresh US military strikes heightened fears of supply disruptions. Brent crude rose to $79.04 and WTI to $74.46.
Oil prices rose Thursday due to fresh U.S. military strikes on Iran, sparking concerns about Middle East supply disruptions. Brent crude futures increased to $78.82 a barrel, and WTI futures reached $74.29, as the U.S. Central Command cited Tehran's attacks on commercial shipping as the reason for the strikes.
Gazprom is repairing damage from a July 7 drone attack on the Krasnodarskaya compressor station of the Blue Stream gas pipeline. The company stated that the attack aimed to disrupt gas supplies to Turkey but was thwarted by prompt measures, preventing any interruptions. This incident follows several previous repelled attacks on Russian gas infrastructure supplying Turkey.
Russia's Deputy Prime Minister Alexander Novak has ordered government agencies, regional authorities, and industry companies to take immediate measures to prevent local fuel supply disruptions. The directive follows a meeting on the fuel market situation, where ministries reported on supply levels, inventories, and pricing.
India is planning to build emergency liquefied natural gas (LNG) reserves by requiring terminal operators to expand storage capacity. This move aims to mitigate supply disruption risks, highlighted by the Iran conflict's impact on Strait of Hormuz shipments. The government is exploring cost recovery mechanisms for operators through higher regasification charges.
The Reserve Bank of India's bi-annual report states an interim US-Iran peace deal could boost India's economic growth by normalizing supply chains. Despite strong macroeconomic fundamentals, the RBI warns of inflation risks from high oil prices and monsoon, and identifies AI cyber threats as a major financial risk.
Russia considers importing fuel and offering subsidies to mitigate supply disruptions caused by Ukrainian strikes on oil refineries, leading to restrictions, price hikes, and shortages across numerous regions.
India's US LPG imports are projected to exceed 1 million tonnes in June, a record high, due to Middle Eastern supply disruptions. This shift increases costs but ensures cooking fuel availability for households.
Oil prices fell Monday after US-Iran talks in Switzerland concluded with Tehran securing waivers for oil and petrochemical exports, easing concerns over potential supply disruptions. Brent crude futures were down 1.90% at $79.04 per barrel.
Italy and Japan are strengthening diplomatic ties, focusing on supply chains and technology cooperation. The leaders aim to reduce reliance on China for critical minerals and boost semiconductor manufacturing through joint ventures.
Oil prices dropped sharply Monday after President Trump declared the Iran deal complete and announced the immediate, toll-free reopening of the Strait of Hormuz, easing fears of energy supply disruptions. Brent crude fell to $83.75 and WTI to $80.87.
India has banned customers using piped natural gas from purchasing LPG cylinders with immediate effect. This decision aims to encourage piped gas usage and comes amid reduced LPG supplies to industries due to disruptions in the Strait of Hormuz.
Indian refiners increased oil imports from Venezuela, Brazil, Angola, and Nigeria due to Middle East supply disruptions caused by the Israel-US war. Russia remained a key supplier, though its share decreased. Overall imports were steady in April but down year-on-year.
China and India are increasingly turning to Brazil for oil supplies due to disruptions in the Strait of Hormuz caused by the US-Iran conflict. Brazil's exports to Asia have surged, with China and India significantly increasing purchases, though it's not a complete replacement for Middle Eastern crude.
Indian refiners are shifting crude oil imports from the Middle East to Latin America and Africa due to shipping disruptions in the Strait of Hormuz caused by the Israeli-U.S. war. Despite reduced Russian oil imports in April, Russia remains India's top supplier, followed by the UAE and Saudi Arabia.
