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The Latest Breaking News from Kpler

Strategic oil reserve buying set to support crude demand through 2028

To enhance energy security and stabilize market prices, various governments plan to acquire millions of oil barrels up to 2028. This approach seeks to mitigate the global supply surplus anticipated from OPEC+ production hikes.

The Economic Times

Oil tanker traffic through Hormuz at near standstill as attacks strain Iran truce

Oil tanker traffic through the Strait of Hormuz has nearly stopped. U.S. airstrikes on Iran triggered retaliation, escalating shipping risks significantly. Vessels are switching off tracking transponders, making navigation more difficult. One LNG tanker remains stranded after a projectile strike near Oman. Insurance firms are reviewing policy terms following recent…

The Economic Times

India's crude imports remain resilient despite Strait of Hormuz tensions

India's crude oil imports are insulated from Hormuz Strait tensions currently. Refiners have successfully diversified their import portfolio over recent years. Russia now supplies over half of India's total crude oil imports. However, LPG and LNG supplies remain vulnerable to Gulf disruptions. Prolonged instability could increase shipping costs and regional…

The Economic Times

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Damaged Qatari LNG tanker awaits salvage after strike as Hormuz risks escalate

A Qatari LNG tanker remains stuck off Oman after being hit by a projectile. U.S. forces reported two other tankers were targeted by Iran recently. These attacks prompted the U.S. to revoke Iran's oil sales license. Global oil prices jumped significantly following these developments. The U.N. shipping agency condemned the…

The Economic Times

EU faces tougher gas storage refill task as winter looms and high prices bite

EU gas storage was only 28 percent full at the start of the summer injection season, but energy regulators are confident in the system's resilience thanks to regasification capacity.

Euronews

Strait of Hormuz closed again? Check latest status as Donald Trump declares US-Iran war ceasefire collapsed

Iran war news update: Strait of Hormuz The strategic shipping route remains a flashpoint in the conflict, which began in late February with massive US-Israeli strikes on Iran.

The Economic Times

Why Hormuz windfall may prove short-lived for oil refiners

Global refining margins have hit record highs, greatly benefiting producers. Yet, while fuel prices remain elevated due to tight inventories, this lucrative period for refiners may soon come to an end as crude prices are anticipated to rise.

The Economic Times

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OPEC+ to pump more oil as market fears shift from shortage to glut

OPEC+ is opening the taps again, extending its production increases as Gulf oil flows recover and prices cool. But with supply rising faster than demand, fears of a global glut are mounting

Fortune

The likely loser in Gulf's post-war race for oil market share

United Arab Emirates is leading oil producers in a fierce market share battle. Saudi Arabia and other Gulf nations are increasing exports significantly. Exporters are offering steep discounts to attract buyers for their surplus crude. This aggressive push has weakened oil prices and challenged OPEC's authority.

The Economic Times

One tycoon makes millions from 'dark' journeys on a dangerous oil route while others feared Hormuz

Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky "shuttle runs." This covert operation allowed the UAE to…

The Economic Times

OPEC+ to boost crude output, but can it deliver and who will buy?

OPEC+ has boosted oil production quotas for the fifth consecutive month, raising questions about shipping capacity and buyer demand. While Middle East exports are recovering post-conflict, they remain below pre-war levels. The market anticipates a return to oversupply, contingent on stable shipping routes and China's re-entry into the market, which…

The Economic Times

June: 10 mbpd, May: 3 mbpd: Gulf oil exports up, but 40% below pre-war level

Gulf oil exports surged past 10 million barrels daily in June, a significant jump from May, thanks to US military efforts securing the Strait of Hormuz. The UAE spearheaded this recovery, enabling millions of barrels to reach global markets and helping to stabilize oil prices. Despite this rebound, exports remain…

The Economic Times

Iran's unsold oil piles up at sea as buyers stay wary

Iran is struggling to sell its growing oil stockpile at sea as a US deadline looms, potentially costing Tehran vital revenue and weakening its negotiating position. Weak demand from China, its primary buyer, and lingering sanctions concerns are major hurdles. While some oil has been discharged in China, India remains…

The Economic Times

Russia turns to India for gasoline as fuel shortages deepen after Ukrainian strikes

The Kremlin said on Tuesday that it was in discussions with several countries about importing fuel at acceptable prices. One industry source said India has already shipped at least 60,000 metric tonnes of gasoline to Russia. Another source said two cargoes, each carrying between 30,000 and 40,000 tonnes, have been…

The Times of India

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The Economic Times

India's June crude imports hit record high as Russian supplies surge despite West Asia tensions

India's crude oil imports hit a record 4.93 million barrels per day in June, bolstered by substantial purchases from Russia, which solidified its role as the top supplier. This surge underscores India's robust supply chain resilience amidst global geopolitical tensions. Analysts highlight proactive diversification and procurement strategies as key to…

The Economic Times

India's Russian oil imports to hit record high in June, data shows

India's Russian oil imports hit an all-time high in June, reaching approximately 2.70 million barrels per day. This surge is attributed to refiners seeking Russian barrels to offset potential supply disruptions from the Strait of Hormuz. Russian oil now constitutes over half of India's total crude imports, significantly increasing its…

The Economic Times

Asia's crude oil imports tick up in June but uncertainty reigns

Asia's crude oil imports saw a slight June uptick but remain near decade lows, impacted by the Iran conflict disrupting Middle East shipments. Despite a modest recovery, volumes are significantly down from pre-war levels, with the Strait of Hormuz's uncertain future and China's reduced buying adding to market volatility. Refined…

France 24

Trump says Iran requested Doha meeting as Tehran denies direct US talks

US President Donald Trump said on Monday Iran had requested a meeting in Doha on Tuesday, despite Tehran denying direct negotiations with Washington. Trump said the talks would occur in Qatar, while the White House said US envoy Steve Witkoff and adviser Jared Kushner would travel there for high-level meetings.

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Bangkok Post

Trump says Iran meeting to take place in Qatar

TEHRAN - US President Donald Trump said Iran has requested a meeting that will be held in Qatar on Tuesday, despite Tehran earlier denying that any technical talks on the deal aimed at ending the Middle East war were planned.

The Economic Times

Hormuz traffic eases, ships continue using disputed Oman route

Despite a projectile striking a vessel, ships are continuing to use a non-Iranian-approved passage through the Strait of Hormuz. Traffic levels saw a slight dip from Wednesday's peak, but many commodity vessels, including oil tankers, are still transiting. Iran insists only its designated routes are authorized, leading to a temporary…

The Economic Times

Traffic through Strait of Hormuz slows after attack on ship

Strait of Hormuz traffic saw a dip Friday after a Taiwanese ship was attacked, prompting a pause in evacuation efforts. Despite this, several tankers entered the Gulf to load oil, and two supertankers sought Iranian crude. Crude prices are heading for steep weekly losses amid easing supply concerns, with Saudi…

The Economic Times

Strait of Hormuz traffic sees sharp uptick but not back to normal

Strait of Hormuz traffic has increased sharply, but remains at roughly half its peacetime level, officials said on Thursday as stranded sailors made their way out of the waterway. Tehran warned on Thursday against any crossings of the Strait of Hormuz without its authorisation, saying vessels not complying "will be…

The Economic Times

Crude shipments through Hormuz at highest since war amid concerns over Iran exit demands

Crude shipments through the Strait of Hormuz have surged following a ceasefire deal, reaching their highest levels since the conflict began. While demand, particularly in Asia, is driving this increase, overall traffic remains a fraction of pre-war levels. Concerns persist about the waterway's long-term stability, even as a UN evacuation…

The Economic Times

Traffic flows through Hormuz continue to improve as IMO evacuation begins: Monitor

Traffic through the Strait of Hormuz is showing a marked improvement following a US-Iran agreement, with an average of 22 commodity ships daily since June 15, a significant rise from pre-agreement levels. New IMO evacuation routes are also facilitating the passage of vessels, with hopes of evacuating around 50 seafarers…

The Times of India

Ships return to Strait of Hormuz, but Iran-US clash over tolls raises new risks

Recent reports indicate that ship traffic in the Strait of Hormuz has started to increase following a temporary agreement, although it remains lower than levels seen before the conflict. Navigational difficulties persist due to the presence of mines in specific routes. Shipping companies are expressing unease over a dispute regarding…

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