Oil Market News, OPEC+, sanctions and price shocks

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$3.96 a gallon for regular at the local stations, cheaper at the big box stores.
 

How the Iran War Is Rewiring the Oil Market​

Jul 17, 2026 #Iran #Oil #Economy
The world feared the Iran war’s disruption of the Strait of Hormuz would trigger historically high oil prices. Yet the worst hasn’t happened, and the reasons for that may hint at a rewiring of global energy flows.
That unexpected resilience of markets has many explanations, but it’s forcing a bigger question: does the world simply wait for the critical waterway to normalize, or start building alternative routes, inventories and supply systems to hedge against future risks?

11:26
 

Caspian Pipeline Consortium Oil Loadings Suspended After Drone Attacks On Tankers

MOSCOW, July 19 (Reuters) – Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia’s Black Sea coast, CPC said on Sunday, adding that oil loadings were suspended....
gcaptain.com

Sanctioned Heavy-Lift Ships Deliver Key Arctic LNG 2 Modules to Russia, Pointing to Construction Restart

Two sanctioned heavy-lift vessels carrying key top-side modules for Russia’s Arctic LNG 2 project have arrived at Novatek’s Belokamenka construction yard after a journey of nearly 2½ months from eastern China, offering the clearest indication yet that work on the project’s long-stalled third...
gcaptain.com
 

Trump is playing chicken with America's oil reserves​

Back in 1975, reeling from the Arab Oil Embargo of 1973, President Gerald Ford signed the Energy Policy and Conservation Act. The law established the nation’s Strategic Petroleum Reserve (SPR) and framed it as a rainy day fund, made ready for the benefit of the American people should a crisis in supply reach us once more.

Today, after two consecutive administrations, our rainy day fund has been drawn down to the lowest levels since 1983. Biden drew down 50 million barrels in response to COVID. The next year, he withdrew an additional 180 million barrels in response to Russia’s invasion of Ukraine, the largest release in SPR history, arguing that the move was needed to calm gasoline prices and cushion the shock from the war.

More:

https://www.msn.com/en-us/money/mar...a-s-oil-reserves/ar-AA28PjSe?ocid=socialshare
 

UAE Presses Ahead With Persian Gulf LNG Exports Despite Tensions

Abu Dhabi National Oil Co. is pushing on with liquefied natural gas exports from its Persian Gulf plant, even as renewed hostilities in the region force producers to curb visible traffic through the Strait of Hormuz.
gcaptain.com

Russia Sends First Conventional LNG Carrier to Arctic LNG 2 as Oil Tankers Gather for NSR Push

Russia sent the first conventional, non-ice-class LNG carrier of the year to the sanctioned Arctic LNG 2 project on Wednesday as a growing fleet of crude oil tankers assembled nearby ahead of a summer push through the Northern Sea Route, underscoring Moscow’s expanding reliance on Arctic...
gcaptain.com
 
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