China told its independent refineries to disregard U.S. sanctions over their purchases of Iranian crude.
Category: Iran
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Oil Prices Fall While Stock Futures Inch Up
The New York Times – Business:Oil prices fell and futures on the S&P 500 rose slightly on Sunday as investors reacted to continued uncertainty about the war in Iran.
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Oil Cools Slightly After a 4-Year High
The New York Times – Business:The price of Brent crude, the international benchmark, dipped more than 2 percent a day after it rose above $120 a barrel in volatile trading.
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Why U.S. Oil Companies Are Not Plugging the World’s Energy Gap
The New York Times – Business:American producers are under pressure from investors to keep spending in check, and they are wary of drilling more wells because they are not sure oil prices will stay high.
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Oil Companies’ Huge Profits Revive Calls for Temporary Windfall Taxes
The New York Times – Business:European nations imposed temporary taxes in the 2022 energy shock when Russia invaded Ukraine, but whether they can effectively help households is up for debate.
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Oil Prices Soar as Iran Standoff Shows No End in Sight
The New York Times – Business:Oil prices push higher, approaching another wartime high, as President Trump asserted that the naval blockade of Iran’s ports would persist.
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U.S. Gas Prices Climb Further as Effects of War Reverberate
The New York Times – Business:The national average price of a gallon of gasoline hit $4.23, following oil prices upward as supplies from the Middle East remain disrupted.
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Loss of Emirates Further Weakens OPEC’s Influence
The New York Times – Business:The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.
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First Fully Loaded L.N.G. Tanker Since War Began Appears to Have Crossed the Strait
The New York Times – Business:Liquefied natural gas transit has been effectively halted. A ship managed by Abu Dhabi’s state oil company managed to cross, said Kpler, a maritime data firm.
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Oil Prices Jump Again as U.S.-Iran Talks Appear Deadlocked
The New York Times – Business:Investors parsed reports that President Trump told advisers that he was not satisfied with Iran’s latest proposal to reopen the Strait of Hormuz.
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The World Needs Natural Gas Now, but the U.S. Is Exporting All It Can
The New York Times – Business:Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.