Economics

Japan to consider whether to buy Russian crude following U.S. sanctions waiver

The U.S. waiver allows countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets, which have been roiled by the Iran war.

China teapots maintain refinery runs to cash in on lucrative fuel sales

Middle East conflict could force up to 6 MMbpd crude run cuts across Asia

Brazil's Petrobras to auction 20 MM liters of diesel amid shortage reports

A spike in diesel prices is emerging as the first and most immediate threat to Brazil's farm sector from the U.S.-Israeli attacks on Iran, raising costs for producers harvesting a record soybean crop and planting corn they cannot afford to delay.

Iverson eFuels to discontinue green ammonia project in Norway due to grid capacity

U.S. fuel exports see slight uptick in 2025

Iran war causes major oil, gas disruptions

The U.S.-Israeli war on Iran and Tehran's attacks on Gulf neighbors have disrupted oil and natural gas exports from the Middle East and forced production stoppages.

Asia refineries, petchem firms cut runs as Middle East conflict disrupts feedstock supplies

Asian steam crackers, which source more than 60% of their naphtha feedstock from the Middle East, have been quick to declare force majeure on petrochemical supplies to customers.

Shell-CNOOC China JV to close 1.2-MMtpy steam cracker due to feedstock disruption

Russia gets export boost from Iran war as price of oil to India surges

The Iran conflict, now in its seventh day, has left the Strait of Hormuz, a critical shipping chokepoint, all but shut, cutting countries off from a fifth of global oil and liquefied natural gas (LNG) supplies.