The global oil market has been upended by the U.S.-Israeli conflict with Iran that began in late February 2026. The effective closure or severe restriction of the Strait of Hormuz — the chokepoint carrying roughly 20 million barrels per day (bpd), or about one-fifth of global seaborne oil and LNG — triggered the largest supply […]
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In an era of geopolitical turmoil—from conflicts in the Middle East to supply chain disruptions—energy security is no longer a luxury but a strategic imperative. Countries worldwide are shifting from reliance on imported refined products to building domestic refining capacity and ramping up drilling programs. This “energy starts at home” approach not only insulates economies […]
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April 23, 2026 – Tensions in the Persian Gulf remain high as the U.S. naval blockade of Iranian ports enters its second week, with U.S. Central Command (CENTCOM) reporting that American forces have now directed 31 vessels to turn around or return to Iranian ports. At the same time, the Strait of Hormuz — the […]
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Tokyo-based Japan Petroleum Exploration Co., Ltd. (JAPEX) today unveiled its ambitious “JAPEX Management Plan 2026-2035,” a decade-long strategy designed to quadruple its oil and gas production and position the company as a more resilient global energy player. The plan places heavy emphasis on U.S. expansion, building on the company’s recent $1.26 billion acquisition of operated […]
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You won’t want to miss this Energy News Beat podcast with our special guest, Dan Doyle, author of “ Roughnecks & Riches: A Start-Up in the Great American Fracking Boom”. Little did Dan know that his book and the oil patch would be so important in delivering low-cost energy to the US and world markets. […]
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In the high-stakes world of global energy markets, two prices for oil exist side by side — but they are telling wildly different stories right now. The “paper” price, reflected in Brent and WTI futures contracts traded on exchanges, sits around $99 per barrel as of April 22, 2026. Meanwhile, the physical price for delivered […]
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The global oil market is facing its most severe supply shock in years. Ongoing disruptions in the Middle East—driven by conflict and the effective closure of the Strait of Hormuz—have slashed exports by more than 13 million barrels per day (mb/d), triggered massive production shut-ins, and sent inventories plunging. According to the International Energy Agency’s […]
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Houston, TX – April 21, 2026 – The latest U.S. rotary rig count data shows a modest pullback in drilling activity. According to Baker Hughes, the total U.S. rig count for the week ending April 17, 2026, stands at 543 rigs, down 2 rigs week-over-week from 545 the prior week. Oil-directed rigs slipped by 1 […]
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The ongoing closure of the Strait of Hormuz—now in its seventh week—has triggered the largest oil supply shock in modern history. Roughly 20 million barrels per day (mb/d) of crude and products once flowed through this narrow chokepoint. Today, tanker traffic has collapsed, exports have plunged to a trickle, and Gulf producers have been forced […]
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The recent escalation in the Iran conflict — with strikes on energy infrastructure, threats to shipping, and disruptions around the Strait of Hormuz — has done far more than spike oil prices. It has laid bare the world’s true energy demand and the fragility of global supply chains. As Brent crude surged toward and beyond […]
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