Israel’s Attack on Iran Breaks Off Oil’s Pricing Slumber - Israel’s attack on Iran, resulting in at least 80 deaths and assassinating several top-ranking IRGC commanders, have roiled the oil markets as ICE Brent futures posted their largest single-day jump since the Russian invasion of Ukraine in late February 2022. - Iranian media reported that upstream and midstream infrastructure was not damaged, including the Kharg island loading facility that oversees 90% of Iran’s crude oil exports, suggesting that Iranian supply will…

Israel has ordered the shutdown of its massive Leviathan gas field, cutting off a critical supply line to Egypt just as regional tensions with Iran erupt into open conflict. Chevron, the operator of Leviathan, confirmed the halt on Friday after Israel’s Energy Ministry issued the order, citing escalating security threats. Energean Plc also suspended output from its Israeli assets. The Leviathan shutdown is already impacting gas flows to Egypt, according to Bloomberg sources close to the pipeline network. Egypt, facing peak summer demand and…

Even before Israel attacked Iran, oil prices had been advancing this week, lifted by renewed optimism surrounding U.S.-China trade negotiations. Markets welcomed a more constructive tone between the two economic superpowers, with discussions in London reportedly progressing well. President Trump’s upbeat remarks added to the momentum, giving traders a reason to bet on improved global growth. As the U.S. and China represent the largest sources of oil demand globally, signs of easing tensions naturally encouraged buying across the energy complex.…

Politics, Geopolitics & Conflict Eastern Libya’s parliament has passed a parallel 2025 budget, a calculated move by Haftar’s bloc to assert financial sovereignty and gain leverage over Tripoli as the political stalemate drags on. Control of key oil terminals remains Haftar’s strongest card, with the clear threat of revenue disruption or supply manipulation if negotiations stall. In parallel, Turkish sources indicate Haftar is revisiting the 2019 Turkey-Libya maritime boundary agreement — a highly controversial deal that…

Following the Israel-Iran flare-up in the Middle East, the UK and Greece have cautioned their commercial shipping companies to be extra careful and log all voyages through the world’s key oil transit chokepoint, the Strait of Hormuz. Israel launched overnight a series of coordinated airstrikes on Iran, targeting nuclear facilities in what it describes as a decisive move to prevent the Islamic Republic from becoming a nuclear power. Iran has vowed retaliation and launched drones at Israel on Friday. The shipping industry fears an escalation…

Following the Israel-Iran flare-up in the Middle East, the UK and Greece have cautioned their commercial shipping companies to be extra careful and log all voyages through the world’s key oil transit chokepoint, the Strait of Hormuz. Israel launched overnight a series of coordinated airstrikes on Iran, targeting nuclear facilities in what it describes as a decisive move to prevent the Islamic Republic from becoming a nuclear power. Iran has vowed retaliation and launched drones at Israel on Friday. The shipping industry fears an escalation…

It may seem strange to say that Friday’s reaction in crude oil to the escalation in the conflict between Israel and Iran is an overreaction, but if you can step back from the fact that Israel launched what looks like a successful bombing raid from their perspective, and Iran is retaliating with drones, the market move probably is way overdone. I have said before that traders are, in some ways, similar to talk radio hosts. They follow the news so intently that in their minds, the impact of everything gets exaggerated. When you have been waiting…

In a stunning and unprecedented pre-emptive military operation, Israel has launched a coordinated strike on Iran’s nuclear infrastructure and senior military leadership under the codename Operation Rising Lions. With surgical precision, the Israeli Air Force reportedly hit over 100 high-value targets across Iran, including uranium enrichment facilities, ballistic missile sites, and command-and-control centers. The operation, authorized by Prime Minister Benjamin Netanyahu and greenlit days in advance, represents the most audacious use of…

As part of the European Union’s efforts to halt imports of Russian natural gas by 2027, the bloc will require EU companies to disclose details of their contracts to buy Russian gas, according to an internal European Commission document seen by Reuters. In May, the EU unveiled a roadmap to end dependency on Russian energy. The roadmap calls for the EU to stop all imports of Russian gas by the end of 2027 by improving the transparency, monitoring, and traceability of Russian gas across the EU markets. New contracts with suppliers…

As part of the European Union’s efforts to halt imports of Russian natural gas by 2027, the bloc will require EU companies to disclose details of their contracts to buy Russian gas, according to an internal European Commission document seen by Reuters. In May, the EU unveiled a roadmap to end dependency on Russian energy. The roadmap calls for the EU to stop all imports of Russian gas by the end of 2027 by improving the transparency, monitoring, and traceability of Russian gas across the EU markets. New contracts with suppliers…

As part of the European Union’s efforts to halt imports of Russian natural gas by 2027, the bloc will require EU companies to disclose details of their contracts to buy Russian gas, according to an internal European Commission document seen by Reuters. In May, the EU unveiled a roadmap to end dependency on Russian energy. The roadmap calls for the EU to stop all imports of Russian gas by the end of 2027 by improving the transparency, monitoring, and traceability of Russian gas across the EU markets. New contracts with suppliers…

Israel conducted large-scale military strikes targeting Iran's nuclear and military sites, causing a sharp increase in global oil prices. Fears of disruptions to Middle East oil supplies and potential retaliatory actions from Iran led to market volatility and a drop in stock markets. While the IAEA confirmed the impact on Iran's Natanz facility, it also stated that radiation levels remained stable, and international calls for diplomacy increased. 1m ago 9:03am CST Turkey and Saudi Arabia Condemn Israel’s Strikes on Iran Turkey’s President…

This year’s milder winter, weak industrial demand, and higher gas pipeline imports are set to result in the first decline in China’s LNG imports since 2022, according to estimates by research firms compiled by Reuters. Last year, China imported a total of 76.65 million metric tons of LNG. This year, the volume is set to be between 6% and 11% lower compared to 2024 levels. In the first four months of 2025, Chinese imports of the super-chilled fuel slumped to 20 million tons, down from 29 million tons for the same period of 2024. LNG…

This year’s milder winter, weak industrial demand, and higher gas pipeline imports are set to result in the first decline in China’s LNG imports since 2022, according to estimates by research firms compiled by Reuters. Last year, China imported a total of 76.65 million metric tons of LNG. This year, the volume is set to be between 6% and 11% lower compared to 2024 levels. In the first four months of 2025, Chinese imports of the super-chilled fuel slumped to 20 million tons, down from 29 million tons for the same period of 2024. LNG…

Iran’s oil refineries and fuel depots haven’t been damaged by the overnight Israeli strikes, the Iranian oil ministry said on Friday as the Islamic Republic vowed retaliation and began launching drones toward Israel. “No damage was caused to the country's refining facilities and oil depots, and currently the activities of these facilities and fuel supply are ongoing in all parts of the country without interruption,” Iran’s oil ministry said in a statement carried by Agence France-Presse (AFP). Late on Thursday, Israel…

Israel has initiated its broadest direct strikes on Iranian territory to date. The operation has so far targeted multiple nuclear facilities, IRGC command nodes, ballistic missile sites, and key military infrastructure across multiple provinces. Early reporting confirms damage at Natanz and Fordow enrichment complexes, alongside the elimination of several senior IRGC officials. Iranian airspace has been closed, air defenses remain fully activated, and Tehran has declared that retaliation is imminent. While we have seen it escalate many times before,…

Crude oil analysts are in a rush to revise their forecasts in the wake of Israel’s attacks on Iran as geopolitics trumps fundamentals yet again. “Oil could spike toward $80 if Middle East tensions escalate and supply risks materialize, but rising OPEC+ output may cap gains and revive oversupply concerns into autumn,” Saxo Markets chief investment strategist Charu Chanana said, as quoted by Bloomberg. “A worst-case scenario — such as a closure of the Strait of Hormuz or a disruption to Iran’s 2.1 million barrels…

Israel has launched a series of coordinated airstrikes on Iran, targeting nuclear facilities in what it describes as a decisive move to prevent the Islamic Republic from becoming a nuclear power. The Israeli military announced the operation on its official Telegram channel, stating that "dozens of fighter jets struck Iranian nuclear complexes in various parts of the country." The strikes immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying. Brent crude surged by more than 7% in early Friday trading, as…

Israel has launched a series of coordinated airstrikes on Iran, targeting nuclear facilities in what it describes as a decisive move to prevent the Islamic Republic from becoming a nuclear power. The Israeli military announced the operation on its official Telegram channel, stating that "dozens of fighter jets struck Iranian nuclear complexes in various parts of the country." The strikes immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying. Brent crude surged by more than 7% in early Friday trading, as…

Saudi Arabia’s flagship NEOM Green Hydrogen Project has crossed a major milestone, with 80% of its construction work now complete across multiple sites, according to project partner Air Products (NYSE:APD). The sprawling project includes a large-scale green hydrogen production facility, solar and wind power farms, and an integrated transmission grid. The entire complex is expected to begin operations within two years, positioning it as the largest renewable-powered ammonia production facility globally. Air Products confirmed that the 4 GW…