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News
Saudi Arabia may have only days to restore its oil escape route — why the pipeline shutdown changes the Hormuz crisis
15+ hour, 1+ min ago (1645+ words) For six months, the world has been learning how to move oil around the Strait of Hormuz. Now it may be discovering the limits of that strategy. Saudi Arabia's enormous East-West oil pipeline — one of the most important alternative routes…...
Hormuz exposed America’s depleted oil buffer — now Washington is turning to Venezuela
2+ week, 14+ hour ago (1633+ words) The United States has responded to six months of global energy upheaval with a decision that would have seemed extraordinary only a few years ago. It is turning to Venezuela. President Donald Trump says oil obtained through America's newly announced…...
Iran’s blacklist is working — oil companies are now avoiding the ships
2+ week, 4+ day ago (1624+ words) Iran threatened 45 tankers with fines, detention and cargo confiscation for allegedly breaking its Strait of Hormuz rules. Major oil buyers are now changing their behaviour. That matters because a rule does not need international acceptance to influence global trade if…...
Trump promised an economic onslaught against Iran
2+ week, 6+ day ago (1609+ words) The United States promised another major escalation in its economic war against Iran. Oil traders prepared for the consequences. Brent crude dropped more than US$2 a barrel on Monday, settling at US$92.17, down 2.35 per cent. West Texas Intermediate fell by…...
The Hormuz crisis is creating winners in Australia — while motorists and businesses pay the price
3+ week, 7+ hour ago (1581+ words) Australia has so far managed to maintain its supplies of imported refined fuel despite the Strait of Hormuz crisis. But new figures from Ampol reveal another side of the energy shock: extraordinary refining profits are being generated as Asia competes…...
Iran threatens the escape routes around Hormuz — and the world’s oil safety valve is now at risk
3+ week, 1+ day ago (1612+ words) For months, the international energy industry has been solving an enormous problem. If oil cannot safely move through the Strait of Hormuz, find another way. Saudi Arabia moved more crude westwards across the Arabian Peninsula towards the Red Sea. The…...
Iran opens Hormuz for Iraqi oil — but a new oil order may be emerging in the Gulf
3+ week, 1+ day ago (1596+ words) The Strait of Hormuz is opening. But not in the way the world has been waiting for. Iran has granted permission for a number of Iraqi oil tankers to pass through the strategically critical waterway following negotiations between Baghdad and…...
The blockade is working — and China’s oil problem could become Australia’s fuel problem
3+ week, 2+ day ago (1585+ words) For much of the Iran war, the international oil market has demonstrated an extraordinary ability to adapt. When one supply route disappeared, another emerged. When tankers stopped sailing normally through the Strait of Hormuz, oil moved through alternative ports, pipelines…...
The secret oil corridor through Hormuz — and why it may be keeping Australia’s fuel crisis from becoming much worse
3+ week, 4+ day ago (1604+ words) For months, publicly visible shipping data from the Strait of Hormuz has told an alarming story. Commercial traffic has fallen to a fraction of its pre-war level. Major Chinese shipping companies have stopped sending vessels through the waterway. Iran says…...