ENB Pub Note: This article originally ran on RHG Phoenix’s site by Randy Green. We will be visiting with them on the podcast soon. The global oil market is navigating a complex rebalancing act amid geopolitical disruptions, sanctions evasion, and shifting supply dynamics. As of mid-July 2026, Brent crude trades in the low-to-mid $80s per […]
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ENB Pub Note: By RFE/RL staff – Jul 15, 2026 – I am old enough to remember a few years ago when a single tanker was hit by Iran, and oil jumped $30 per barrel. Russia has lost over 60% of its downstream capabilities, and in the last 3 weeks, over 90 vessels, including 20 tankers. […]
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Despite crude oil prices easing significantly after the sharp spikes tied to the 2026 Iran-related conflict and Strait of Hormuz disruptions, retail prices for gasoline, diesel, and jet fuel remain elevated or are rebounding. This is creating pain at the pump and for businesses, even as the broader “crude crisis” appears to be fading. As […]
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The fragile truce between the United States and Iran is unraveling. Renewed attacks on commercial shipping in the Strait of Hormuz, fresh U.S. strikes on Iranian targets, satellite evidence of Iran rebuilding damaged nuclear sites, and mixed signals from Washington and Tehran have once again put global energy markets on edge. The central question for […]
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Ukraine’s Unmanned Systems Forces have intensified their campaign against Russia’s “shadow fleet” of tankers, claiming strikes on approximately 15 additional vessels in a recent operation focused on the Sea of Azov. This follows a multi-day drone offensive from July 6–9, 2026, that reportedly hit 35–36 ships total (with later updates to 36 vessels, including 32 […]
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The fragile ceasefire and sanctions relief framework between the United States and Iran has collapsed. President Donald Trump’s blunt assessment at the NATO summit in Ankara, Turkey, on July 8, 2026, made that clear: the Memorandum of Understanding (MOU) is “over,” the ceasefire is finished, and he has no interest in further dealings with the […]
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The global oil market is experiencing sharp volatility, shifting rapidly from fears of an impending glut to renewed geopolitical risks centered on the Strait of Hormuz. This comes amid escalating U.S.-Iran tensions, highlighted by Washington’s revocation of a key license allowing Iranian oil sales and Tehran’s persistent efforts to impose fees or tolls on shipping […]
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In a major overnight operation, Ukrainian drone forces struck eight Russian “shadow fleet” tankers in the Sea of Azov that were delivering fuel to occupied Crimea. The attack, described by Ukrainian commanders as achieving “industrial-scale results,” marks the latest and most concentrated blow in Kyiv’s sustained campaign to disrupt Russia’s energy exports and logistics supporting […]
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Middle East oil producers are grappling with significant challenges in selling their crude, even as global benchmark prices (Brent and WTI) have surprisingly softened below or near pre-conflict levels. This comes despite a major supply shock from disruptions in the Strait of Hormuz following the early 2026 Iran conflict (U.S./Israeli strikes on Iran). The market […]
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China Merchants Energy Shipping (CMES) is doubling down on Very Large Crude Carriers (VLCCs), signaling strong long-term confidence in global crude oil trade despite short-term market volatility. In a recent Lloyd’s List report, the Chinese shipping giant dismissed a nearly 40% drop in VLCC spot rates since late June 2026 as a temporary distortion, raising […]
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