Energy Market News

Latest news and analysis on oil, gas, and commodity markets

Tanker rates hit record highs as insurers flee the Persian Gulf

VLCC day rates surged past $423,000 and five major P&I clubs pulled war risk cover, leaving hundreds of ships stranded outside the Strait of Hormuz.

Mar 12market

IEA releases record 400 million barrels but oil prices refuse to budge

The largest emergency oil release in IEA history drew a collective shrug from markets, with Brent climbing back above $100 hours after the announcement.

Mar 12opec

Saudi Arabia quietly boosted oil output weeks before the Iran strikes began

OPEC data shows Saudi production jumped to 10.88 million barrels a day in February, an 8% surge that started before the first missiles flew on February 28.

Mar 11oil

Iran keeps pumping oil to China through the strait it closed to everyone else

Iran has shipped at least 11.7 million barrels of crude to China through the Strait of Hormuz since the war began, even as the blockade chokes off Gulf exports for everyone else.

Mar 11market

Energy stocks surge 24% in 2026 as Wall Street rediscovers oil

The S&P 500 energy sector has jumped more than 24% year to date, dwarfing the broader market while oil majors hit all-time highs on geopolitical risk and a rotation out of tech.

Mar 10market

Oil plunges 12% as Trump signals end to Iran war and G7 readies reserves

WTI crude fell below $78 a barrel Tuesday, erasing nearly all of last week's war-driven gains, after Trump said the conflict would end very soon.

Mar 10gas

Hormuz blockade puts US LNG in the spotlight, but bottlenecks limit relief

American LNG terminals are running flat out as the Strait of Hormuz blockade removes nearly a fifth of global supply, sending European and Asian spot prices to one-year highs.

Mar 9market

Oil retreats from $119 spike as G7 and Saudi reserves hit the brakes

Brent and WTI plunged more than $30 from overnight highs after G7 ministers signaled a 400-million-barrel reserve release and Saudi Aramco dumped spot crude.

Mar 9policy

G7 weighs record 400-million-barrel reserve release to cool oil prices

G7 finance ministers held an emergency call with IEA chief Fatih Birol to discuss tapping up to 400 million barrels of strategic stockpiles as crude tops $100.

Mar 9gas

Europe stares down a second energy crisis as gas storage hits four-year low

European gas storage fell to just 46 billion cubic metres by late February, the lowest since 2022, leaving the continent dangerously exposed as the Hormuz blockade cuts off Qatari LNG.

Mar 9market

Oil blows past $100 as Hormuz blockade chokes global supply

Brent crude topped $107 and WTI surged past $103 on Monday as the Strait of Hormuz blockade entered its second week, cutting off 20% of the world's oil.