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Indian refiners have purchased nearly 30 million barrels of Russian crude within a week. (AI image) India is aggressively buying Russian crude oil amidst supply disruptions from Strait of Hormuz caused due to the ongoing US-Iran war and Middle East conflict. In fact, India is buying such huge quantities of Russian crude, that tankers headed…
A temporary waiver issued by the United States has opened the door for buyers to purchase Russian oil cargoes that are already at sea, placing nearly 30 tankers in Asian waters back in the market. According to ship-tracking data compiled by Bloomberg, these vessels together are carrying at least 19 million barrels of Russian crude…
The United States is set to release 172 million barrels of oil from strategic reserve, the energy department said on Thursday. This came after US President Donald Trump said that he would tap into strategic reserves to reduce prices amid Iran war.“Right now we’ll reduce it a little bit and that brings the prices down,”…
Iran shipped millions of barrels of crude oil, all to China, through the Strait of Hormuz despite escalating tensions in the region following the outbreak of the US-Israel war with Iran on February 28, which has disrupted broader maritime traffic through the key energy corridor.At least 11.7 million barrels of Iranian crude have passed through…
India has purchased around 30 million barrels of unsold Russian crude after the United States issued a 30-day waiver allowing the country to buy shipments already stranded at sea, Bloomberg reported citing sources.According to the report, Indian refiners moved quickly to secure the available cargoes, many of which were already positioned in Asian waters, offering…
Amid soaring crude oil prices worldwide due to the ongoing US-Israel war with Iran, the International Energy Agency (IEA) has proposed the largest disbursement of oil reserves to help bring down prices.The release could exceed the 182 million barrels of oil that IEA member countries put on the market in two separate releases in 2022,…
Indian refiners are currently paying a premium of $2 to $4 per barrel above Dated Brent for deliveries of Russia’s benchmark Urals crude. (AI image) In a quick and immediate fix to the Middle East oil supply shock, Indian refiners have begun purchasing readily available Russian crude oil. With ships and tankers currently not moving…
Washington is working “along really well” with Venezuela, US President Donald Trump said on Sunday (local time), pointing to oil shipments from the country. Speaking to reporters aboard Air Force One, Trump was talking about US’s approach towards the new leadership in Caracas after Nicolas Maduro was captured by American forces. “Venezuela is really working…
President Donald Trump said on Tuesday that Venezuela’s interim authorities would transfer between 30 million and 50 million barrels of oil to the United States, with the crude to be sold at market prices and the proceeds controlled by the US government.“I am pleased to announce that the Interim Authorities in Venezuela will be turning…
President Donald Trump said on Tuesday that Venezuela’s interim authorities would transfer between 30 million and 50 million barrels of oil to the United States, with the crude to be sold at market prices and the proceeds controlled by the US government.“I am pleased to announce that the Interim Authorities in Venezuela will be turning…
