Strategic Petroleum Reserve

  • 2 mins

Vance says US moving up to 15M barrels daily through Hormuz despite Iran blockade

Vice President JD Vance confirmed on August 20 that the United States is moving up to 15 million barrels of oil per day through the Strait of Hormuz despite Iran's ongoing blockade, calling the effort a direct counter to Tehran's…

Covert Gulf oil flows keep prices in check as reserves dwindle

Middle Eastern oil producers are quietly ferrying large volumes of crude out of the Persian Gulf through covert channels, helping contain energy prices even as the U.S.-Iran war stretches into its sixth month with no resolution in sight. The shipments,…

Brent crude carries 10.7% risk premium amid Hormuz standoff

Brent crude settled at $88.52 per barrel on Friday, carrying a 10.7% risk premium above Goldman Sachs's The Goldman Sachs Group, Inc. estimated spot fair value of roughly $80, as competing U.S. and Iranian claims over the Strait of Hormuz…

  • 3 mins

Hormuz shipping falls to 7 vessels as US-Iran talks stall

Shipping traffic through the Strait of Hormuz has dropped sharply as hopes for a diplomatic resolution between the United States and Iran continue to erode, sending oil prices surging amid renewed fears of prolonged supply disruption.

Oil nears $100 as depleted reserves leave markets exposed

Brent crude surged above $100 a barrel on Thursday for the first time since May, and analysts warn this rally is more perilous than earlier spikes in the US-Iran conflict because the world's strategic oil cushion has been largely spent.

Governments to buy millions of barrels to rebuild reserves depleted by Iran war

The US Strategic Petroleum Reserve has fallen to its lowest level in more than four decades, leaving the world's largest economy with a diminished buffer just as the fragile ceasefire between the United States and Iran appears to have collapsed.

Global energy markets weather Hormuz closure with reserves and demand cuts

More than four months after the Strait of Hormuz effectively closed to commercial shipping, global energy markets have avoided the catastrophic shortages many analysts feared, as governments and industry players deployed a combination of strategic reserves, demand reduction, and regulatory…

Oil falls to pre-war levels, but depleted reserves pose future risk

Brent crude has completed a dramatic round trip, falling back to pre-conflict levels near $73 per barrel after peaking at $126 in April, but a Reuters analysis published Sunday warns that the world's dangerously depleted strategic reserves leave the global…

Turkey set to receive first-ever US emergency oil shipment

A cargo of crude oil from the U.S. Strategic Petroleum Reserve is heading to Turkey, marking the first-ever shipment of American emergency reserve oil to the Mediterranean nation, according to ship tracking data reported by Reuters.