oil supply

IEA says global diesel squeeze to last well into 2027

Global diesel supplies will stay tight well into next year, the International Energy Agency said on Wednesday. The agency said Middle East fuel exports are still struggling to recover from the Iran war even though crude shipments have bounced back,…

China’s oil demand revival drives up crude prices worldwide

A rebound in Chinese oil purchasing is driving up prices of crude grades from Africa, Canada, and Latin America, as the world's largest importer ranges farther afield for supplies amid the continued near-closure of the Strait of Hormuz, Bloomberg reported…

IEA deepens oil supply forecast as Hormuz data dispute widens

A widening gap between U.S. government claims and independent tracking data on oil flows through the Strait of Hormuz is fueling market uncertainty, with vessel-monitoring firms reporting volumes roughly half of what Energy Secretary Chris Wright has asserted.

IEA deepens 2026 oil supply cut as Hormuz closure drags on

The International Energy Agency on Wednesday cut its 2026 global oil supply forecast for the second consecutive month, warning that renewed Middle East hostilities and the continued closure of the Strait of Hormuz are pushing the world deeper into an…

Diesel prices surge as refinery attacks hit three continents

Diesel prices surged in the United States and Europe on Monday after a cascade of refinery disruptions across three continents tightened an already strained global fuel market, raising the prospect of higher costs for trucking, agriculture and consumer goods.

Discounts on Russian crude evaporate as Middle East crisis tightens global oil supply

The resumption of attacks and shipping blockades in the Strait of Hormuz has again throttled oil shipments from the Middle East, sending Indian and Chinese refiners into an aggressive pivot toward Russian crude and other alternatives for September deliveries.

Iran deploys ‘trigger-ready’ submarines in Hormuz strait standoff

Iran's Navy confirmed on Sunday that its domestically built Ghadir-class midget submarines are operating in a "trigger-ready" state inside the Strait of Hormuz, escalating an already volatile maritime confrontation with the United States that has paralyzed global shipping through the…