Tag: Saudi Arabia

Iraq Suspends Crude Loading at All Export Terminals, Impacting ~4 Million Barrels per Day – Incident at Basra Terminals in the Persian Gulf, Not a Strait of Hormuz Closure

Clark Savage1185

Iraq has suspended crude oil loading operations at all its southern export terminals following a drone incident at the Basra (Basrah) terminal complex in the Persian Gulf. The move affects a significant portion of the country’s exports, which normally average around 3.3–3.6 million barrels per day (bpd) via these facilities (with some market commentary citing […]

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Goldman Sachs: New Pipelines Could Divert 45% of Strait of Hormuz Oil by 2027 and 60% by 2028 — Iran’s Oil Leverage Nears Irrelevance

Clark Savage1252

The Strait of Hormuz, the world’s most critical oil chokepoint carrying roughly 20% of global oil trade (around 20–21 million barrels per day pre-disruptions), is rapidly losing its stranglehold. According to Goldman Sachs analyst Alexandra Paulus, pipeline projects across the Gulf are on track to divert up to 45% of pre-war Persian Gulf oil exports […]

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Brent Crude Surges Above $86 as Iran Strikes UAE Tankers in Hormuz, Russian Oil Infrastructure Takes More Hits, and Chokepoint Risks Mount

Clark Savage956

The Refining Capacity Shortage and Demand Destruction Quest Brent crude oil prices surged more than 3% today, breaking above $86 per barrel (reaching $86.06 in early London trading). This extends a sharp ~12% rally since Friday, driven by escalating geopolitical risks across key oil chokepoints and infrastructure. The immediate spark came from Iranian cruise missile […]

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The Iran War Turns Regional: Tanker Attacks, Naval Blockades, Drone Strikes, and Surging Oil Prices

Clark Savage593

The conflict involving Iran has rapidly expanded beyond direct U.S.-Iran clashes into a broader regional war, with proxy actions, naval disruptions, and threats spanning the Persian Gulf, Strait of Hormuz, Yemen, and even the Caribbean. Oil prices are climbing on heightened supply risks, with Brent crude recently trading around $83–85 per barrel amid fresh attacks […]

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Where Do We Go from Here with Iran? What is the impact on the global oil and gas market?

Clark Savage758

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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Middle East Oil Producers Face Export Hurdles Amid Hormuz Disruptions: Demand Destruction or Market Mispricing? Analyst Views on the Road Ahead for Oil Prices

Clark Savage1536

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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Iranian Strikes on Tankers in the Strait of Hormuz Heighten Global Energy Security Risks

Clark Savage1034

Tensions in the Strait of Hormuz escalated sharply this week with two reported attacks on commercial vessels, underscoring the vulnerability of one of the world’s most critical energy chokepoints. On June 25, the Singapore-flagged container ship M/V Ever Lovely (operated by Taiwan’s Evergreen Marine) was struck by what U.S. officials described as an Iranian drone […]

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