Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy said on Monday, October 12–13, 2026, that it struck a third “violating” or “offending” supertanker in the Strait of Hormuz within roughly 48 hours, sparking an onboard fire. The IRGC stated the vessel had switched off its navigation systems, ignored warnings, and attempted to exit via an unauthorized […]
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Crude moving through the Strait of Hormuz fell 27% in a week, to at least 10.1 million barrels a day, as tanker attacks picked up and Yemen’s Houthis warned everyone who works at a Saudi oil site. Here is what has actually been hit, what is only claimed, and how much oil can still get […]
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Supertankers are racing into the Persian Gulf for record fees, and that single migration is redrawing how crude moves. More than 40 percent of the world’s roughly 850 very large crude carriers are now inside the Gulf or within a couple of days’ sail of it, according to Signal Ocean data cited by Bloomberg. Empty […]
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Russell Hardy did not wake up on October 6 and decide to scare a room full of energy executives. He runs Vitol, the biggest independent oil trader on the planet, and he was describing what his people are actually seeing when they try to move barrels. The seven-month war involving the United States, Israel, and […]
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Record VLCC rates now equal about $33 a barrel — 27 percent of delivered crude — and history shows that energy shocks plus Fed tightening are how demand destruction turns into recession. Especially after the Fed raises rates during an energy crisis, recessions follow. Patterns in finance matter, just like physics matters to the grid. […]
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Washington expanded its economic campaign against Iran on October 1, designating the country’s rail system, major industrial firms, and a Russia-linked shadow banking network on the same day the U.S. military blockade continues to choke seaborne oil exports. The Treasury actions, issued under Operation Economic Outcast, come as three shadow-fleet tankers seized earlier this year […]
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Tankers are burning in the Strait of Hormuz, visible traffic through the waterway has collapsed to a fraction of normal levels, and U.S. Energy Secretary Chris Wright says he is “highly confident” Europe will draw down emergency diesel stocks to ease a global shortage. The combination is keeping a firm geopolitical premium in crude while […]
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On March 17, 2026, the Department of Homeland Security issued the longest and broadest Jones Act waiver since at least 1950, covering energy commodities and fertilizer inputs. The waiver was extended twice and now runs through November 15, 2026, with a narrower product list and voyage-by-voyage review after August 17. The Cato Institute’s Jones Act […]
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Kirk Edwards, President of Latigo Petroleum, stops by the Energy News Beat Podcast In this episode of the Energy News Beat Podcast, host Stu Turley sits down with Kirk Edwards, President of Latigo Petroleum, to discuss the critical energy challenges reshaping global markets. From diesel shortages and geopolitical tensions to drone warfare targeting refineries, the […]
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Three sanctioned tankers carrying nearly six million barrels of Iranian crude—valued at roughly $600 million—are crossing the Atlantic toward the United States, according to vessel-tracking data from TankerTrackers and Kpler. The ships, Majestic X, Tifani, and Lenore, were seized months ago in the Indian Ocean as part of a broader U.S. campaign against Iran’s sanctions-evading […]
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