Crude oil
Russia prepared to divert oil to India as Middle East conflict disrupts flows
India is vulnerable to supply shocks, with crude stocks covering only about 25 days of demand, while refiners hold similarly limited inventories of gasoil, gasoline and liquefied petroleum gas.
Hormuz shutdown worsens after U.S. hits Iranian warship; tankers stranded for fifth day
The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralyzed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows.
India eyes alternative energy supplies amid Strait of Hormuz disruption
Shipping through the Strait of Hormuz between Iran and Oman, which carries around a fifth of oil consumed globally as well as large quantities of gas, has ground to a near halt after vessels in the area were struck as Iran hit back after U.S. and Israeli strikes.
Chinese refiners begin run cuts as Iran war tightens oil supply
The U.S.-Israeli war with Iran has cut off nearly all shipping in the Strait of Hormuz, a conduit for 20% of global oil supplies.
India most vulnerable to prolonged disruptions to Mideast oil, analysts say
Both China and India, Asia's top energy consumers, source around half of their crude imports from the Middle East, but India has far less oil in storage than its neighbor and is more dependent on that region's crude now than in the last three-plus years.
- Vyterra Renewables receives funding to advance its Nova Scotia low-carbon fuel oil project 3/26
- BASF inaugurates €8.7-B Verbund site in Zhanjiang, China 3/26
- Phillips 66 and Kinder Morgan announce open season extension for Western Gateway refined products pipeline 3/25
- Econotherm awarded contract for heat pipe heat exchanger in a Thai refinery 3/25
- Tecnimont awarded $50-MM rehab study contract for Guaracara refinery upgrade project 3/25
- Japanese refiners raise runs as stockpile release begins 3/25
