The United Arab Emirates (UAE) has announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance, effective May 1, 2026—marking the end of nearly 60 years of membership since 1967. This move strips OPEC of its third-largest producer and delivers a significant blow to the cartel’s ability to […]
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Europe is staring down a jet fuel supply crunch that could disrupt summer travel as early as June, with imports from the Middle East — historically its largest external source — completely halted this month. California, already grappling with refinery closures and heavy reliance on strained Asian imports, is only weeks behind, with tanker tracking […]
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President Donald Trump stated Tuesday that Iran is eager to reopen the Strait of Hormuz “as soon as possible” as Tehran grapples with its leadership situation and internal “State of Collapse” amid ongoing U.S.-Iran negotiations to end the two-month war. In a Truth Social post, Trump noted that Iran has proposed the U.S. lift its […]
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In a stark update released on April 26, 2026, Goldman Sachs has significantly raised its oil price forecasts, citing unprecedented supply disruptions in the Persian Gulf. The investment bank now expects Brent crude to average $90 per barrel and West Texas Intermediate (WTI) to hit $83 per barrel in Q4 2026—up sharply from its prior […]
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The Trump administration announced two new landmark agreements today with offshore wind developers Bluepoint Wind and Golden State Wind, marking the latest step in redirecting capital from subsidized, intermittent renewable projects toward reliable oil, natural gas, and LNG infrastructure. Under the deals, the companies will voluntarily relinquish federal offshore wind leases originally awarded during the […]
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The Iran war that erupted on February 28 has sent oil prices surging past $100 per barrel amid disruptions in the Strait of Hormuz and Persian Gulf supply chains. While the broader energy sector has benefited from the geopolitical shock, not all Big Oil majors have performed equally. BP has emerged as the standout performer […]
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As the Iran war enters its third month, the world is staring down the barrel of the largest oil supply disruption in history. The Strait of Hormuz—the chokepoint for roughly one-fifth of global petroleum trade—has been effectively closed to most non-Iranian shipping since early March 2026. Bloomberg’s latest analysis warns that the resulting “billion-barrel oil […]
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In a sharp pivot amid stalled ceasefire efforts, President Donald Trump has canceled a high-profile diplomatic trip to Pakistan by his son-in-law Jared Kushner and special envoy Steve Witkoff. The envoys had been expected to engage in indirect or mediated talks aimed at resolving the ongoing U.S.-Iran conflict, which has disrupted global energy flows through […]
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As the Strait of Hormuz remains effectively closed following the escalation of the U.S.-Israel-Iran conflict in late February 2026, the world is witnessing what energy experts are calling the largest supply shock in history. Traffic through the strait has plummeted by over 95%, choking off roughly 20% of global oil and LNG flows, along with […]
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ENB Pub Note: This article ran on David Blackmon’s Substack, and we highly recommend subscribing. Even as U.S. gasoline prices rise again amid ongoing Strait of Hormuz tensions, American drivers are still paying less than half what Europeans and Asians endure at the pump. The reason is simple: America chose lower taxes and genuine energy […]
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