Tag: Iran

WTI has crossed $100 as the market begins to price the scenario Goldman Sachs flagged months ago: not just a constrained Strait of Hormuz, but a simultaneous threat to the Red Sea exit that Saudi Arabia has used as its remaining seaborne outlet.

Clark Savage1393

Brent settled above $101 on Wednesday, September 9, and WTI followed through the $100 level on Thursday morning in a sharp rally. Physical benchmarks had already been there. Dated Brent has held above $100 since September 3. Murban, DME Oman, the OPEC basket, and the Indian basket were already trading over that threshold. Futures are […]

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U.S. fuel prices have climbed to their highest levels since the Iran war began in late February, with diesel setting fresh all-time records and wholesale costs now exceeding the peaks seen before the first ceasefires.

Clark Savage666

How high they go from here, and how long they stay elevated, depends less on crude alone than on a global refining system that is already running near its limits. Energy analyst John Kemp noted Wednesday that the combined cost of U.S. crude and refining margins is now higher than in early April. So far […]

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CENTCOM Destroys 3 IRGC Oil Tankers After Iran Targets 2 U.S. Navy Warships

Clark Savage476

U.S. Central Command struck three Islamic Revolutionary Guard Corps-linked crude oil tankers on September 5 after Iran fired ballistic missiles at two U.S. Navy warships in regional waters. The American ships evaded the attack. No U.S. personnel were harmed. Tehran’s shadow fleet paid the bill. That is the energy war in one exchange: Iran shoots […]

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Mike Wirth framed Chevron’s new $7 billion Venezuela commitment as a “win-win-win” during a Bloomberg Television interview from Caracas: better heavy crude for U.S. Gulf Coast refiners, stronger energy security, and fresh investment and jobs for Venezuela.

Clark Savage770

The September 2, 2026 sit-down with Tyler Kendall came the same day Chevron announced updated joint-venture agreements with PDVSA. The company will invest more than $7 billion over five years across three existing ventures, add acreage in the Orinoco Belt’s Carabobo area, and target more than 600,000 barrels per day of production—more than triple the […]

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