Premiums for ships loading from Iran to rise as US sanctions loom
As the deadline for US sanctions on Iranian crude oil draws near, loadings are still going on from Iran and some shipping companies view it as an opportunity to get Continue Reading
South Korea Grants US Wish for Zero Oil Imports From Iran
South Korea has become the first of Iran’s top 3 oil customers to fulfill a hard-line US demand that buyers cut imports to zero. (Bloomberg) — South Korea has become Continue Reading
How Iran Plans To Bypass The World’s Main Oil Chokepoint
Global markets have recently gone into overdrive in anticipation of the US-Iran standoff’s outcome. President Trump is building up pressure on Tehran, his latest move was to announce his chairing Continue Reading
How Much Longer Can The Saudis Suppress Oil Prices?
When earlier this week reports emerged that Saudi Arabia is striving to keep oil prices in the range of US$70-80 per barrel in a bid to balance its need for Continue Reading
The Start Of Saudi Arabia’s Power Play
Shaky emerging market developments have been bearish for oil prices lately, with WTI falling to $68 per barrel by the end of the trading week after a $70 per barrel Continue Reading
Is A New Crisis Brewing In The Saudi Royal Family?
Major changes are never going without instability, conflict and possible crisis. Saudi Arabia’s dramatic change to diversify its economy away from an oil-based rentier state status is not going as Continue Reading
Baiji refinery begins its comeback
The Baiji refinery, taken offline by the war with the self-proclaimed Islamic State (IS) militant group in 2014, has partially resumed operations. The 70,000 barrel per day (bpd) Salahaddin-2 unit Continue Reading
Basra protests: Rioters attack Iran consulate
Rioters attacked the building after days of violent protests Protesters have torched the Iranian consulate in the southern Iraqi city of Basra amid large protests against corruption and lack of Continue Reading
Unrest spreads in Iraq as Iranian mission stormed, oil workers held hostage
Civil unrest fueled by anger against perceived corruption and misrule by Iraq’s political elite spread across the south of the country on Friday as protesters stormed the Iranian consulate in Continue Reading
Oil prices down after Pompeo outlines plan to get nations off Iranian oil
Speaking in India this week, Secretary of State Mike Pompeo shared plans to wean nations off Iranian oil before the U.S. reimposes sanctions on Iran in November. The sanctions, which Continue Reading