Latest development5 months ago
Kuwait Oil Recovery to Take 12 Weeks After Hormuz Reopening
Kuwait Petroleum Company projects a three-month timeline for full output restoration, with 70% capacity expected within eight weeks.
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The closure of the Strait of Hormuz has halted construction projects globally due to shortages of oil-derived products, leading to a sharp rise in raw material costs. Oil prices have surged significantly, while major energy companies predict that prolonged closure will result in a global supply crisis. Meanwhile, Iran has launched a digital insurance platform to ensure safe passage for vessels through the strait, reflecting ongoing tensions in the region.
Kuwait Petroleum Company projects a three-month timeline for full output restoration, with 70% capacity expected within eight weeks.
Read the full storyA BMI report projects a 34.1% surge in Iraqi crude output by 2027 as regional producers recover from war-related disruptions and shipping constraints.
Adnoc is planning a new crude oil pipeline to bypass the Strait of Hormuz, aiming to secure export routes amid ongoing regional geopolitical instability.
President Trump signed a proclamation amending tariffs on copper, aluminum, and steel imports, linking relief to the use of US-made metals to boost domestic industry.
The U.S. has prohibited citizens from receiving Iranian services for safe passage in the Strait of Hormuz, tightening enforcement of existing sanctions.
The German lender raised its Q3 2026 price target to $90, citing prolonged geopolitical friction and pressure on global crude inventories.
Aluminum prices surged 17% as Guinea plans export limits and China moves to curb smelter production amid environmental inspections.
New Delhi initiates direct tanker deployments to the Strait of Hormuz to secure crude and LPG supplies amid a prolonged naval blockade.
Indonesia plans stricter export controls on palm oil, thermal coal, and nickel to prioritize domestic supply and boost value-added processing.
Hedge funds ramp up short positions against UK housebuilders as the industry faces potential supply chain shocks and interest rate pressures from regional conflict.
Chinese oil tankers exited the Strait of Hormuz following positive signals from President Trump and VP Vance, raising hopes for a diplomatic resolution and eased energy supply risks.
Iranian crude volumes idling on tankers near the Strait of Hormuz have jumped significantly as U.S. naval operations successfully disrupt Tehran's export routes.
Oil loading at Iran's primary terminal has ceased since May 8, with anchored tankers hitting a peak as a US naval blockade exhausts storage capacity.
The oil and gas supply crunch stemming from the ongoing conflict between the U.S., Israel, and Iran has resulted in $25 billion in losses for global businesses to date.
Brent crude hits $111.27 as markets price in potential military escalation following President Trump's warnings regarding a new deal with Iran.
Monthly export volumes dropped to just 10 million barrels in April from pre-war levels of 93 million, straining the fiscal outlook for OPEC's second-largest producer.
Gold fell 3% and silver plunged 10% as oil prices climbed on supply disruption fears in the Strait of Hormuz and a surging US dollar.
Mubadala Energy joins BlackRock and CPP Investments in a $9.75bn financing deal for the Commonwealth LNG project to secure energy supplies.
Global oil safety nets are falling at record speeds, with analysts warning of a supply crisis within weeks if the Strait of Hormuz remains blocked.
Iranian state media reports 30 Chinese vessels granted safe passage through the Strait of Hormuz following a bilateral agreement between Presidents Trump and Xi Jinping.
The Saudi oil giant aims to optimize its balance sheet through a sale and leaseback deal including the Dhahran residential community.
At least nine LNG vessels near Qatar have disabled transponders since May 11 to mitigate targeting risks while navigating regional maritime tensions.