In a sharp escalation of regional tensions, Yemen’s Iran-aligned Houthi forces reportedly launched ballistic missiles and drones at Saudi Aramco’s Jazan (also spelled Jizan) refinery complex on the Red Sea coast overnight into July 25, 2026. The strikes came roughly 24 hours after Saudi-led coalition airstrikes targeted Houthi positions in the Yemeni port of Hodeidah, […]
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Three Very Large Crude Carriers (VLCCs) carrying a combined roughly 6 million barrels of crude oil slipped out of the Persian Gulf through the Strait of Hormuz in the past 24 hours, according to ship-tracking data compiled by Bloomberg. The vessels began transmitting automated position (AIS) signals as they entered the Gulf of Oman on […]
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The ongoing conflict in the Middle East, including disruptions through the Strait of Hormuz and damage to key Qatari LNG infrastructure, has triggered a sharp global LNG supply crunch. This is forcing buyers in Europe and Asia to pivot aggressively toward coal, oil products (such as fuel oil, naphtha, and propane), and alternative natural gas […]
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In a timely July 20, 2026, article for City Journal, energy analyst Mark P. Mills dismantles the persistent narrative of an “energy transition” — the idea that wind, solar, and batteries will soon replace oil, natural gas, and coal. Mills, executive director of the National Center for Energy Analytics and author of The Cloud Revolution, […]
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Global oil markets are navigating heightened volatility as geopolitical tensions, ongoing conflicts, militant attacks, environmental constraints, and regulatory hurdles converge on several of the world’s most critical maritime and pipeline chokepoints. Brent crude prices have shown sharp swings, with peaks well above $90 during periods of acute disruption (including levels around or exceeding $94 in […]
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Oil markets are back on edge. Brent crude has surged above $90 per barrel for the first time in weeks, driven by a fresh attack on a Kuwaiti tanker in the Strait of Hormuz and renewed fighting between the United States and Iran. Early Tuesday (July 21, 2026), the UK Maritime Trade Operations (UKMTO) reported […]
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In a dramatic adaptation to regional turmoil, Iraq has mobilized thousands of tanker trucks to haul fuel oil—and soon crude—across the border into Syria, rerouting exports to Mediterranean ports like Baniyas. This overland operation stands as a stark paradigm shift from the traditional reliance on massive sea tankers through the Strait of Hormuz. While sea […]
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Energy News Beat Stand Up – Buckle Up – 10 Huge Stories Welcome to the Energy News Beat Standup, where host Stu Turley breaks down the 10 biggest energy stories reshaping global markets. In this episode, we dive into a world in flux: Russia’s refining capacity is crumbling under Ukrainian drone strikes, Iraq is suspending […]
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In a development that echoes broader regional efforts to reduce vulnerability to the Strait of Hormuz chokepoint, ExxonMobil is emerging as a key partner in Iraq’s drive for energy self-sufficiency—particularly by ending its costly and geopolitically sensitive dependence on Iranian natural gas. Iraqi Prime Minister Ali al-Zaidi met directly with ExxonMobil CEO Darren Woods in […]
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Chevron Corp. is set to sign non-binding memorandums of understanding (MOUs) with the Iraqi government on Friday, advancing negotiations for major investments in two of Iraq’s key oil fields while joining efforts to develop pipelines that would allow Iraqi crude exports to bypass the vulnerable Strait of Hormuz. The move signals deepening U.S.-Iraq energy ties […]
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