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Iran seizes two UK tankers, ratchets up Strait of Hormuz oil flow risks

2 days ago DieselGasoil Comments Off on Iran seizes two UK tankers, ratchets up Strait of Hormuz oil flow risks
Highlights Stena Impero chemical tanker seized, VLCC Mesdar released Iran’s IRGC says it seized Stena Bulk for shipping violation: state TV UK foreign secretary ‘extremely concerned’ by incidents Washington — Iran seized a UK chemical tanker and briefly detained a UK-owned VLCC in the Strait of Hormuz Friday, ratcheting up regional tensions and risks to Read More

Oil climbs as Middle East tensions offset demand worries

2 days ago DieselGasoil Comments Off on Oil climbs as Middle East tensions offset demand worries
NEW YORK (Reuters) – Oil prices rose about 1 percent on Friday after steep losses a day earlier, supported by rising tensions between the United States and Iran, even as concerns that slowing economic growth could dent global oil demand cast a cloud. FILE PHOTO: An oil pump is seen at sunset outside Vaudoy-en-Brie, near Read More

Iran seizes UK tanker as tensions soar

2 days ago DieselGasoil Comments Off on Iran seizes UK tanker as tensions soar
7/19/2019 NEW YORK – Iran’s Revolutionary Guard Corps seized a British oil tanker in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy chokepoints. Brent climbed more than 1% on the news. A spokesperson for the British government said it was urgently seeking further information and assessing the situation following Read More

Global stocks up on Fed rate cut hopes, Microsoft results; dollar bounces

2 days ago DieselGasoil Comments Off on Global stocks up on Fed rate cut hopes, Microsoft results; dollar bounces
NEW YORK (Reuters) – A gauge of global stocks climbed on Friday as investors looked for a strongly dovish U.S. Federal Reserve at its next meeting and as early returns on earnings season have come in better than anticipated. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., Read More

UK chemicals tanker attacked in Strait of Hormuz: owner Stena Bulk

2 days ago DieselGasoil Comments Off on UK chemicals tanker attacked in Strait of Hormuz: owner Stena Bulk
Washington — The UK-flagged Stena Impero chemicals tanker was attacked Friday by “unidentified small crafts and a helicopter” while transiting the Strait of Hormuz and is heading toward Iran, owner Stena Bulk confirmed. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Iran’s Islamic Revolutionary Guard Corps said it seized Read More

Oil steadies as Middle East tensions counter demand worries, set for weekly fall

2 days ago DieselGasoil Comments Off on Oil steadies as Middle East tensions counter demand worries, set for weekly fall
NEW YORK (Reuters) – Oil prices steadied on Friday after steep losses in the previous session, supported by rising tensions between the United States and Iran, but weighed by concerns slowing economic growth could dent global oil demand. FILE PHOTO: An oil pump is seen at sunset outside Vaudoy-en-Brie, near Paris, France April 23, 2018. Read More

Oil pares steep weekly loss as U.S. says it downed Iranian drone

2 days ago DieselGasoil Comments Off on Oil pares steep weekly loss as U.S. says it downed Iranian drone
7/19/2019 LONDON – Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted. Futures rose as much as 1.9% in New York, paring their steepest weekly decline since the end of May. A U.S. Read More

Analysis: DME Oman benchmark move backfires as open interest stalls

2 days ago DieselGasoil Comments Off on Analysis: DME Oman benchmark move backfires as open interest stalls
Highlights Questions about underlying appeal of DME Oman as a benchmark Open interest on DME Oman forward curve has flat-lined Scratch trades underpinning DME Oman volumes, say traders London — Almost a year since Saudi Arabia picked Dubai Mercantile Exchange’s Oman benchmark to help set official selling prices for crude in Asia, open interest in Read More

IEA ‘significantly’ concerned on Strait of Hormuz, sees well-supplied oil markets: Birol

2 days ago DieselGasoil Comments Off on IEA ‘significantly’ concerned on Strait of Hormuz, sees well-supplied oil markets: Birol
New Delhi — The International Energy Agency is “significantly” concerned about geopolitical tensions, including in the Strait of Hormuz, but oil markets are currently well supplied and unlikely to see “huge price increases for now,” the head of the agency said Friday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Read More