California’s energy system is teetering on the edge of collapse. Decades of aggressive refinery closures, strict CARB fuel specifications, and heavy reliance on long-haul imports have left the state uniquely vulnerable. The ongoing disruption in the Strait of Hormuz—triggered by the U.S.-Israeli war on Iran—has now turned that vulnerability into an imminent crisis. Refined product […]
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ENB Pub Note: This article is from the California Globe by Mike Ariza.. We recommend reading the California Globe daily, as Katy Grimes, as the Editor in Chief, does a great job keeping up with everything California. Currently, we only have two to three more weeks of fuel ships still in transit across the Pacific […]
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In the high-stakes world of global energy markets, two prices for oil exist side by side — but they are telling wildly different stories right now. The “paper” price, reflected in Brent and WTI futures contracts traded on exchanges, sits around $99 per barrel as of April 22, 2026. Meanwhile, the physical price for delivered […]
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In the energy markets, there’s no single “oil price” anymore — and today’s fractured reality proves it. As highlighted in a sharp analysis posted this morning by commodity trader Jack Prandelli, the spreads tell the real story: Forties (physical) → $134 Dated Brent (physical) → $116 Brent futures → $99 WTI → $87 Canadian crude […]
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As the Iran conflict escalates with U.S. and Israeli strikes targeting Iranian energy infrastructure, the Iran-backed Houthis in Yemen have issued a stark warning: they are prepared to close the Bab el-Mandeb Strait, effectively blocking oil exports through the Red Sea. Houthi Deputy Foreign Minister Hussein al-Ezzi stated, “If Sana’a decides to close the Bab […]
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In a sharp escalation of tensions in the Persian Gulf, two Indian-flagged vessels—one a VLCC supertanker carrying approximately 2 million barrels of Iraqi crude—were fired upon by Iranian Revolutionary Guard Corps (IRGC) gunboats in the Strait of Hormuz on April 18, 2026. The ships, identified as the Sanmar Herald and Jag Arnav, were forced to […]
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In a fluid and confusing situation that has maritime operators on edge, several tankers and cargo vessels executed abrupt U-turns in the Strait of Hormuz over the past 48 hours after Iran’s Islamic Revolutionary Guard Corps (IRGC) signaled a return to tight control of the waterway. While Iran’s foreign minister declared the strait “completely open” […]
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As a record armada of crude oil tankers steams toward the U.S. Gulf Coast to load American barrels—171 vessels en route in April 2026, with 28 VLCCs already fixed for May loadings alone—another surge is unfolding downstream. U.S. crude cargoes transiting the Panama Canal are now exceeding 200,000 barrels per day (bpd) in the first […]
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In a significant development for global energy markets, Iran announced today that the Strait of Hormuz is now “completely open” to commercial shipping for the remainder of the fragile ceasefire period tied to the Lebanon truce. The announcement, made by Iranian Foreign Minister Abbas Araghchi, comes amid ongoing U.S. naval restrictions on vessels calling at […]
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A record armada of crude oil tankers is steaming toward the U.S. Gulf Coast in April 2026. Maritime intelligence from Windward shows roughly 171 crude tankers en route—well above the typical monthly average of about 110. Market data firm Kpler reports that 28 Very Large Crude Carriers (VLCCs), each capable of hauling up to 2 […]
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