Category: Crude Oil News

World’s 65 Biggest Banks Pumped $906 Billion Into Fossil Fuels in 2025. The Iran War will escalate exploration and production, pipelines, and energy security spending and financing.

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In a striking confirmation of the enduring role of fossil fuels in global finance, the world’s 65 largest banks committed a record $906 billion to oil, natural gas, and coal companies in 2025 — an 8% jump from $869 billion the year before. This marks the second straight year of rising fossil fuel financing after […]

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Russia Slashes Oil Exports As Fuel Shortages And Drone Attacks Cut into Production

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Russia is preparing to sharply reduce its crude oil exports in June, diverting more barrels to the domestic market as refinery disruptions, regional fuel shortages, and persistent Ukrainian drone strikes take a heavy toll on production and logistics. According to preliminary industry and trading data reported by Reuters and cited in OilPrice.com, crude loadings from […]

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Iranian Official Says Hormuz to Reopen with New Toll Regime – Would Somebody Tell the Trump Administration They May Not Be Talking with the “Right” People?

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In a statement that underscores the deepening fog of miscommunication between Tehran and Washington, Iran’s Ambassador to Russia, Kazem Jalali, told Russia’s Izvestia newspaper that the Strait of Hormuz will ultimately reopen — but only under new conditions set jointly by Iran and Oman, including transit fees for “services” provided in the waterway. “Of course, […]

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The Iran Closure on the Strait of Hormuz Could Last to Labor Day: What It Means for Global Markets, Oil Prices, and the Physical vs. Paper Disconnect

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The Strait of Hormuz — the narrow waterway through which roughly one-fifth of global oil and significant LNG volumes flow — has remained effectively closed since early March 2026 following the escalation of the U.S.-Israel-Iran conflict. Iran has suspended talks and signaled the blockade could become permanent absent major concessions. In a wide-ranging interview with […]

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More Indian Imports Of Venezuelan Oil Wouldn’t Mean That India Is Drifting Away From Russia

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ENB Pub Note: This article is republished from Andrew Korybko’s Newsletter on Substack, and he brings up some great points. That false narrative might still gain traction, however, due to misguided Russian soft power policies. Indian Ministry of External Affairs Secretary (East) Rudrendra Tandon said during Venezuelan President Delcy Rodriguez’s recent visit that there’s “perfect complementarity” in the […]

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