In a remarkable turnaround for Venezuela\’s beleaguered oil sector, crude exports surged in February 2026, doubling from January levels amid a U.S.-supervised deal that has reshaped the country\’s energy trade. This development not only boosts volumes but also enhances revenue, marking a shift from the discounted, shadow-market sales that dominated under previous sanctions. As the […]
Continue ReadingThe Strait of Hormuz, a narrow waterway connecting the Persian Gulf to the Gulf of Oman, remains one of the world\’s most vital energy arteries. In 2024, approximately 20 million barrels per day (b/d) of crude oil, condensate, and petroleum products transited this chokepoint, representing about 20% of global petroleum liquids consumption. Additionally, around one-fifth […]
Continue ReadingThe escalating conflict between the United States, Israel, and Iran has sent shockwaves through global energy markets, particularly affecting refined oil products like diesel, gasoline, and jet fuel. As of March 2, 2026, the war—now in its third day—has led to sharp price surges, disruptions in tanker traffic through the Strait of Hormuz, and heightened […]
Continue ReadingThe escalating conflict between the United States, Israel, and Iran, marked by military strikes and retaliatory actions, has thrust the global oil market into turmoil. As of March 1, 2026, Iran\’s threats to close the Strait of Hormuz—a narrow waterway handling about 20% of the world\’s oil trade—have already led to voluntary halts in tanker […]
Continue ReadingAs oil traders brace for the opening of markets on Monday, March 2, 2026, the escalating conflict between the United States, Israel, and Iran is shattering the prevailing narrative of an oil glut. For months, analysts have pointed to oversupply concerns, with Brent crude averaging around $63.85 per barrel in forecasts just days ago. But […]
Continue ReadingENB Pub Note: This article is from Andrew Korybko\’s Newsletter on Substack. There are many moving parts to the Iran conflict, and this article addresses a critical one. Watch in the coming weeks and see if the Venezuelan Monetary Controls are placed into effect in Iran, and you will see a key financial win for […]
Continue ReadingFebruary 28, 2026 – In a dramatic escalation of long-simmering tensions, the United States and Israel have initiated joint military strikes on Iran, codenamed \”Operation Epic Fury\” by the U.S. and \”Roaring Lion\” by Israel. President Donald Trump announced the operations early this morning, stating they aim to dismantle Iran\’s missile capabilities, prevent nuclear weapon […]
Continue ReadingAmid escalating U.S.-Iran tensions and a massive American military buildup in the Middle East, Iran has dramatically accelerated crude loadings at its primary export terminal on Kharg Island. Vessel-tracking and satellite data show Tehran is rushing to move as much oil as possible out of the Persian Gulf before any potential U.S. strikes disrupt operations. […]
Continue ReadingSaudi Arabia is flooding global markets with crude at the fastest pace in nearly three years, shipping 7.3 million barrels per day (b/d) in the first 24 days of February 2026 — the highest level since April 2023. Tanker-tracking data compiled by Bloomberg show the surge represents a jump of more than 400,000 b/d from […]
Continue ReadingIn a development that could breathe new life into long-dormant Canadian pipeline assets, South Bow Corp. is actively evaluating an expansion of its system that may effectively revive key segments of the canceled Keystone XL project. The catalyst? A major new U.S. pipeline proposal filed last month by Bridger Pipeline LLC that lines up almost […]
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