Less than a month ago, the dominant story in oil markets was a looming glut. Analysts pointed to recovering tanker traffic through the Strait of Hormuz after a brief U.S.-Iran ceasefire, rising non-OPEC supply, and expectations of softer prices. That narrative has been obliterated. Missiles are flying again, key chokepoints are effectively blocked, refined-product markets […]
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In the shadow of the ongoing Iran conflict that has repeatedly disrupted the Strait of Hormuz, Saudi Arabia’s East-West Pipeline (also known as the Petroline) has proven a critical lifeline. Built roughly 40 years ago and restored to a maximum capacity of about 7 million barrels per day (bpd) earlier in 2026, this conduit moves […]
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In the escalating conflicts of mid-2026, the world’s most critical maritime energy arteries face simultaneous pressure from military actions, proxy threats, and environmental stresses. The Strait of Hormuz, Bab el-Mandeb Strait, Suez Canal, and even the Caspian Sea region have become flashpoints, disrupting flows of oil, LNG, fertilizers, and other commodities. Russian tankers are forced […]
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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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Saudi Arabia’s carefully constructed workaround for oil exports is hitting severe constraints on two fronts at once: kinetic threats from Yemen’s Houthis and commercial barriers from the London marine insurance market centered on Lloyd’s. The result is a growing bottleneck at the Red Sea that threatens a key remaining outlet for Saudi crude and products, […]
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This article first ran on The Energy News Beat Substack – Head over there to comment. The global oil market is once again being reshaped by simultaneous disruptions across multiple critical maritime and pipeline choke points. As of late July 2026, the Bab el-Mandeb Strait, Strait of Hormuz, Suez Canal routes, and Caspian-linked export corridors […]
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Rey Trevino, Crude Truth Podcast Host, and President at Pecos Operating, stops by. This was recorded yesterday, and oil has dropped back down several dollars. The volatility will still be around until demand destruction kicks in. We have a wild stand-up with 8 huge stories. It is fun having guests on the stand-up, and Rey […]
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West Texas Intermediate crude hovered near $90 per barrel on July 23, 2026, with Brent trading higher in the mid-to-high $90s amid escalating disruptions across multiple global oil transit routes. Markets are reacting to simultaneous pressures on four critical choke points: the Bab el-Mandeb Strait, the Strait of Hormuz, the Suez Canal corridor, and the […]
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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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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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