Saudi Aramco has put a stark number on the energy fallout from the ongoing US-Iran conflict: more than 2.6 billion barrels of oil supply lost since fighting erupted in February 2026. That figure, first highlighted by Aramco CEO Amin Nasser in early August and amplified in a recent Reuters report widely shared on X by […]
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“14 to 15 million barrels a day are leaving the Arabian Gulf region versus the 20 million barrels a day pre-conflict.” – Secretary Chris Wright In an exclusive interview on Fox News’ Special Report with Bret Baier on August 13, 2026, U.S. Energy Secretary Chris Wright provided a clearer picture of oil flows amid ongoing […]
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Iraq’s state oil marketer SOMO has confirmed that Abu Dhabi National Oil Company (ADNOC) is among the buyers of its crude, with cargoes exiting via the Strait of Hormuz amid ongoing regional conflict and severe disruptions to normal shipping. Ali Nizar, director-general of SOMO, stated in a text message that “Adnoc is one of the […]
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President Donald Trump has extended a temporary waiver of the Jones Act for another 90 days, allowing foreign-flagged vessels to continue transporting certain energy commodities and related products between U.S. ports amid ongoing disruptions from the war in Iran. The extension, finalized around August 10, 2026, and set to take effect after the prior waiver’s […]
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The 2026 Strait of Hormuz crisis—sparked by U.S.-Israeli operations against Iran beginning in late February and marked by Iranian attacks on shipping, assertions of control, U.S. naval responses and blockades, and sharply reduced tanker traffic—has delivered the largest oil supply disruption on record. At its peak, the effective closure or severe constriction of the waterway, […]
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On the night of August 7-8, 2026, Russia and Ukraine exchanged strikes targeting energy infrastructure and civilian areas. Russian forces launched ballistic missiles and drones at the Kyiv region and capital, while Ukrainian forces conducted long-range drone strikes on two Russian oil refineries. Russian strikes hit the Brovary district near Kyiv and areas in the […]
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Oil markets remain highly volatile in August 2026, shaped by the ongoing geopolitical tensions in the Middle East, disruptions around the Strait of Hormuz, and structural shifts among major producers. One of the clearest signals of adaptation by a key player is Abu Dhabi’s aggressive move to control more of its own logistics chain. ADNOC […]
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Vessel traffic through the Strait of Hormuz has fallen sharply this week even as markets closely watch Iran-Oman talks on a potential management framework for the waterway. At the same time, Houthi threats continue to constrain Red Sea routes, recent attacks have kept insurance and freight costs elevated, and Saudi Arabia is deepening discounts on […]
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The effective closure of the Strait of Hormuz amid the 2026 Iran-related conflict has fundamentally altered global liquefied petroleum gas (LPG) trade flows. Middle Eastern exports from Saudi Arabia, the UAE, Qatar, and Iran slowed sharply as tanker traffic collapsed and infrastructure faced risks or attacks. Before the escalation, roughly 54 oil, chemical, and LPG […]
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U.S. commercial crude oil inventories rose last week, but Strategic Petroleum Reserve (SPR) draws and sharp declines in key refined products left overall oil and product stocks tighter, according to the Energy Information Administration’s (EIA) Weekly Petroleum Status Report released today for the week ending July 31, 2026. Key Inventory Highlights (Week Ending July 31, […]
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