#Oil

Brent oil headed for a third weekly gain as intensifying attacks on Saudi Arabia raised the risk of wider Middle East supply disruptions.

The average rate on 30-year fixed home loans retreated to 6.36% for the week ending May 14, down 1 basis point from 6.37% the week before, according to Freddie Mac.

Oil prices surged $7 this week as Iran tensions, Hormuz risks, and weak signals from the Xi-Trump summit overshadow bearish OPEC and IEA demand forecasts.

Gasoline prices are averaging more than $4.50 a gallon nationwide, and historically, $4 per gallon has been a level that triggers public backlash and economic anxiety.

The SEC and the CFTC, which have a long history of turf wars that stymied regulation, have brokered an unusual jurisdictional peace accord.

Rising oil prices linked to the Iran war are reviving inflation fears, leaving the ECB trapped between weak growth and possible rate hikes

From Japantimes RSS Feed: Japanese crude tanker emerges outside Hormuz in rare transit

The official welcoming party was accompanied by a military band and honor guard, as well as 300 youths singing and waving American and Chinese flags in time to the band’s music.

Reports of a naphtha shortage have driven some to hoard city-designated trash bags needed in some areas to dispose of waste.

Prime Minister Sanae Takaichi also instructed industry minister Ryosei Akazawa to work to further increase the rate of crude oil procurement from alternative sources in July.

“Reopening routes is not the same as normalizing a market that has been deprived of about 1 billion barrels of oil.”

The United Arab Emirates had carried out military strikes against a key Iranian oil refinery just as President Trump declared a cease-fire last month, according to a new report.

Slovak PM Robert Fico says Brussels risks replacing Russian energy dependence with expensive US LNG as the EU moves toward a 2027 ban

Japan is also trying to diversify oil procurement sources, looking at the United States and Russia, as the Middle East situation remains unstable.

The United Kingdom Maritime Trade Operations center had earlier said a bulk carrier reported being hit 23 nautical miles northeast of Doha by an 'unknown projectile'.

Global oil stockpiles are shrinking at record speed as Hormuz disruptions strain crude and fuel markets

The US military has attacked two more Iranian-flagged oil tankers as Washington presses ahead with a naval blockade, while Tehran has compared control of the Strait of Hormuz to possessing an “atomic bomb”

Iranian officials accused the United States of violating the ceasefire with the tanker strikes and hampering diplomatic efforts to end the conflict.

Between May 6 and 8, the spill spread to an area of 20 square miles inside the channel, amounting to as much as 3,000 lost barrels of oil, reps for Orbital EOS, a global oil spill monitoring servic…

Austria’s Chancellor visits ADNOC in Abu Dhabi as UAE, OMV and XRG deepen energy and petrochemicals ties, expanding Borouge International’s global footprint.