Commodities
Pakistan Plans Fresh LNG Purchases Amid Strait of Hormuz Shutdown
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Commodities
Gold, silver, oil, natural gas, agriculture, and raw materials markets.
FeaturedCommodities
Russia’s Oil Export Surge Runs Into a 135 Million-Barrel Traffic Jam
Russia's oil export surge has hit a 135 million-barrel traffic jam due to the closure of the Strait of Hormuz. The situation has led to a surge in oil prices, with Brent futures flipping to backwardation. The US has backed a pipeline to bypass the Strait of Hormuz, while …
Why it matters
The disruption to Russia's oil exports has significant implications for the global oil market, with prices surging as a result. The situation highlights the importance of the Strait of Hormuz as a critical chokepoint in global oil trade.
oilprice.com
Read storyCommodities
OPEC Cuts Demand Forecast Again as the Oil Market Starts Looking Past Hormuz
OPEC has cut its demand forecast for oil again, citing the ongoing tensions in the Strait of Hormuz. The oil market is starting to look past the Hormuz crisis, with prices surging 8% after Trump reimposed Iran's blockade. The move is seen as a vote of confidence in the oil market, with many analysts expecting prices to continue to rise.
oilprice.com
Commodities
US Oil, Gas Drillers Hang Back in Volatile Market
US oil and gas drillers are hesitant to invest in the current market due to its volatility, while record US crude output may lead to an oil price spike sooner than expected.
oilprice.com
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