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The Latest Breaking News from Dan Pickering

$9.999 and maxed out: California diesel prices overwhelm pump displays as global supply crunch worsens

Diesel prices soar to new record highs with no signs of slowing down anytime soon.

Fortune

'We worry now': Oil tops $100, diesel hits record highs amid Iran war escalation

Benchmarks for crude oil and diesel hit warning thresholds as the war in the Middle East escalates.

Fortune

Iran 'Partially Lost Control' on Strait of Hormuz as US Navy Gains Upper Hand, Analysts Say—'They Were Never Completely in Control'

The U.S. is gaining control over the Strait of Hormuz, a critical waterway, while Iran’s influence over the region is diminishing, according to analysts.

Benzinga

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Iran wants a mafia-style ‘protection’ toll on the Strait of Hormuz, but the eye-popping $20 billion per year haul is a pipe dream

Details of any tolling or voluntary fee system are unlikely to be finalized in any potential interim deal, further delaying a permanent peace solution.

Fortune

Trump has no remaining levers to pull as oil hovers near the $100 ‘psychological’ threshold

Depleted emergency oil reserves create a dangerous game if the Strait of Hormuz and the Red Sea are effectively shuttered.

Fortune

Trump may have to choose between an endless quagmire and ceding the Strait of Hormuz to Iran

The global energy trade is likely changed forever by the outcome of the Iran war.

Fortune

Trump’s time is running out to avoid a nightmare Strait of Hormuz scenario

Global oil flows remain stunted as stockpiles are depleted, and demand is set to rise again.

Fortune

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U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim

Middle Eastern oil flows are rising, but U.S. crude stockpiles are still depleting.

Fortune

The Iran war has turned the world's shipping straits into a chessboard—and the U.S. aims to box out China from the Panama Canal to the Malacca Strait

As the war over the Strait of Hormuz wages on, the U.S. is quietly gaining more influence over the Panama Canal and the straits of Malacca and Gibraltar.

Fortune

Fuel shortages from the Iran war have spread to Europe, but the pain is hitting California and the West Coast as well—and help is years away

California’s refinery closures near Los Angeles and San Francisco are occurring just as the Iran war limits global supply.

Fortune

With the U.S. now blockading the Strait of Hormuz, the focus is on who has the ‘guts to go through first’

A coalition of U.S. allies is now working on a plan to safely secure the Strait of Hormuz.

Fortune

Much of Iran’s military may be ‘decimated,’ but it’s winning the energy war as it picks who gets cargoes through the Strait of Hormuz

The war of attrition in Iran could lead to an Iranian “major victory” if the U.S. withdraws without controlling commerce.

Fortune

Kevin O'Leary Predicts Who Will Control the Strait of Hormuz After the Middle East War Subsides

Kevin O'Leary predicts a multinational coalition will seize control of the Strait of Hormuz to ensure energy security after the 2026 Middle East war. US Treasury Secretary Scott Bessent considers 'unsanctioning' 140 million barrels of Iranian oil to curb soaring global prices.

International Business Times UK

It's almost inexplicable why oil prices aren't much higher. But here's why markets are ‘resilient’ so far despite the biggest energy supply shock ever

Crude oil prices have surged more than 70% this year, but there's the potential to go much higher to new records.

Fortune

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Fortune

Skyrocketing energy prices and inflation woes mount as the ‘absurd’ reality in Iran sinks in

Energy prices may jump to all-time highs soon as the Iran war escalates without a ceasefire or a clear victory.

Fortune

Trump pledged the ‘free flow of energy’ from the Middle East, and he has a week to show progress before prices really spike again

Solving the insurance and security issues is massive so long as Iran can still strike tankers.

Fortune

Energy markets offer ‘relatively small reaction’ to Iran war, but prices could spike if oil and gas aren’t flowing by the end of the week

Crude prices jumped 6% March 2, but they have risen 25% since the beginning of the year as tensions with Iran have escalated.

Fortune

Trump loves cheap gas—but a military conflict in Iran could nearly double your price at the pump

As Trump builds the biggest military force since 2003 outside Iran, the U.S. impacts could swing from $2.50 to $5 gasoline.

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news in one place.

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Fortune

Trump threatens to keep ‘too cute’ Exxon out of Venezuela after CEO provides reality check on ‘univestable’ industry

Exxon Mobil CEO Darren Woods' emergence as an unofficial industry spokesman has put him at odds with Trump with his frank talk over Venezuela.

Fortune

Trump pushes for $100 billion in oil investments in Venezuela while Exxon and others say it’s currently ‘uninvestable’ without major reforms

Oil giants tell Trump they need stability and considerable legal and political reforms before investing big in Venezuela.

Fortune

What CEOs need to know about the new 'Donroe' doctrine

Also: All the news and watercooler chat from Fortune.

The Guardian - US

Trump says US companies will invest billions in Venezuelan oil production. Experts aren’t so sure

Industry insiders say US oil companies want to ‘avoid getting screwed’ and will proceed with extreme caution

Fortune

President Trump stands ready to send U.S. Big Oil into Venezuela en masse, but the reality is messy and rebuilding a ruined industry takes many years

Doubling Venezuela's weakened oil flows could cost $110 billion and take until 2030.

Fortune

Warren Buffett’s Berkshire Hathaway may have scored a ‘genius’ win-win in $10 billion acquisition that could mark the last big deal of his career

Berkshire Hathaway gets a strong stand-alone business, while parent Oxy will get plenty of cash to pay down debt.

Fortune

Founded by Trump's energy secretary, Liberty Energy aims to lead the AI-driven fracking future

The future of the autonomous, AI-powered oilfield is becoming a reality

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