(Investing) – Italy is not conducting negotiations with Iran to secure safe passage through the Strait of Hormuz for Italian vessels or oil tankers, an Italian foreign ministry source said on Friday. The statement contradicts a report published by the Financial Times suggesting such talks were taking place. “In their diplomatic contacts, Italian leaders want to favour the conditions for a
(By Oil & Gas 360) – (Part I) Oil markets are once again confronting a question they have not seriously faced in years: what happens when a major global supply artery is suddenly threatened. Prices have surged toward $100 per barrel after Iran’s new leadership signaled that the Strait of Hormuz could remain closed as tensions in the Middle East
(Oil & Gas 360) By Greg Barnett, MBA Why 300–400 million barrels is politically huge, and physically small. In a true Strait of Hormuz disruption, the right unit is not “barrels held.” It is “days of solvency”, the time until forced rationing, refinery run cuts, or demand destruction. This section uses IEA chokepoint data to translate SPR headlines into a
(Investing) – WASHINGTON – The Trump administration is considering waiving the century-old Jones Act for a limited period to ensure energy and agricultural shipments can move freely between U.S. ports, press secretary Karoline Leavitt said on Thursday, in a bid to combat Iran-related supply disruptions. “In the interest of national defense, the White House is considering waiving the Jones Act for
(BOE Report) – Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed. Iran has exported about 13.7 million barrels of crude oil since Israel and the U.S. launched
(Investing) – Oil prices rose sharply Thursday, cresting above the key $100 per barrel level, after new Iranian Supreme Leader Mojtaba Khamenei warned that a critical waterway for global shipping will remain closed as the U.S. and Israel continue an assault of the country. Khamenei — the son of former leader Ali Khamenei, who slain at the outset of the U.S.
(Oil & Gas 360) – By Greg Barnett, MBA A forensic look at rules, stock types, and why “tap the SPR” headlines mislead Markets treat “SPR release” as an instant supply. Operators treat it as a governed drawdown of a specific inventory mix, with hard constraints: what is stored (crude vs. products), where it sits (domestic vs. held abroad), and
(Oil Price) – Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors. Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command headquarters, warned the world to “get ready for oil to be
(Investing) – NEW YORK – Oil prices gained nearly 4% on Wednesday as fresh attacks on ships in the Strait of Hormuz worsened supply disruption fears, and analysts said the International Energy Agency’s proposal for a record release of oil reserves is inadequate to ease those fears. Brent futures rose $3.40, or 3.9%, to $91.20 a barrel by 11:17 a.m. EDT (1517
Weekly Crude Oil Storage as of March 6, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.8 million barrels from the previous week. At 443.1 million barrels, U.S. crude oil inventories are 2% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
(Oil & Gas 360) by Michael Smolinski – While The Taking Out Of Those Who Kill, Maim And Destroy Is Fueling Recession Fear, So Much Needing To Be Done Fuels Our Bullish Outlook. The near-month, closing futures contract price for WTI crude oil jumping to above $90 per barrel is increasing economic growth/ recession fear. The near-month closing futures price of
(By Oil & Gas 360) – Escalating tensions involving Iran are raising new questions about the security of the Strait of Hormuz, one of the world’s most critical energy chokepoints, as military action intensifies and energy markets brace for potential supply disruptions. The United States has stepped up strikes against Iranian targets, widening the conflict and increasing uncertainty around the
