Oil Market News, OPEC+, sanctions and price shocks

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Spain stirs fresh doubts over EU Russian LNG ban

With six months to go, Spain warns the EU ban could deepen reliance on US LNG and test Europe’s energy security.

en.highnorthnews.com

 

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The Next Oil Rally Could Be Driven by Stockpile Buying | OilPrice.com

Countries are now racing to build or replenish strategic petroleum reserves, with the IEA planning to refill the 400 million barrels it released during the crisis and major importers like India looking to expand their emergency stockpiles.

oilprice.com

Asian Refiners Redirect Middle East Crude to the U.S. as Hormuz Flows Recover | OilPrice.com

Asian refiners are offering excess Middle Eastern crude to the U.S. West Coast as Gulf supplies recover and Asian demand eases following the reopening of the Strait of Hormuz.

oilprice.com

 

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Big oil’s secretive trading arms are having an extraordinary year Economist

 

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The 250-year history of U.S. energy consumption - U.S. Energy Information Administration (EIA)

www.eia.gov

 

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Gasoline and Diesel Fuel Update

Gasoline and diesel fuel prices released weekly.

www.eia.gov

 

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US targets Mexican cartel fuel smuggling - Splash247

The US has moved to disrupt a cartel-linked fuel smuggling network using logistics companies, falsified customs documents and maritime transport to move illicit hydrocarbons between the US and Mexico. The Department of the Treasury’s Office of Foreign Assets Control and the Financial Crimes...

splash247.com

 

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Hormuz Disruption to Stall 2026 LNG Trade, Demand to Rise by 2050

Shipping disruptions in the Strait of Hormuz due to the Iran war could keep global liquefied natural gas trade flat this year if flows return to normal in the next three months, Shell said on Tuesday, though it expects growth to resume in 2027 and demand to rise sharply by 2050.

gcaptain.com

 

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VLCC market adapts as Hormuz closure reshapes global crude flows - Splash247

Mette Frederiksen, head of research and insight at Tankers International, writes for Splash on an eventful, historic Q2 for VLCCs. The second quarter of 2026 will be remembered less for freight cycles than for the event that overshadowed them all: the effective closure of the Strait of Hormuz...

splash247.com

 

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US targets Mexican cartel fuel smuggling - Splash247

The US has moved to disrupt a cartel-linked fuel smuggling network using logistics companies, falsified customs documents and maritime transport to move illicit hydrocarbons between the US and Mexico. The Department of the Treasury’s Office of Foreign Assets Control and the Financial Crimes...

splash247.com

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US targets Mexican cartel’s cross-border fuel smuggling operation

U.S. officials are targeting a Mexican cartel by focusing on the organization’s growing cross-border fuel-smuggling business.

www.freightwaves.com

 

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Last Western Shipyard Servicing Russia’s Arctic LNG Fleet Receives Another Icebreaking Gas Carrier

The Arc7 icebreaking LNG carrier Rudolf Samoylovich has arrived at Denmark’s Fayard A/S Odense yard for scheduled maintenance, highlighting the Danish facility’s unique role as the last remaining shipyard in Europe still servicing the specialized vessels that enable year-round exports from...

gcaptain.com

 

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Natural Gas - U.S. Energy Information Administration (EIA)

www.eia.gov

 

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Oil Markets Grow Numb to U.S.-Iran Ceasefire Drama | OilPrice.com

Oil prices remain stuck in a tight range as traders look past geopolitical headlines and wait for clarity on the fragile U.S.-Iran ceasefire.

oilprice.com

 

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US Oil Companies See Big Profit Jump, Gird for Clash Over Pump Prices With Trump

U.S. oil companies are set to report their strongest quarterly profits in years, courting a possible clash with President Donald Trump, who has been pressing his longtime ally Big Oil to bring down gasoline prices before midterm elections in November.

gcaptain.com

 

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H1 2026: The Moving Target of Maritime Sanctions Compliance

Maritime sanctions in H1 2026 require moving beyond static screening. Learn how to navigate evolving regulatory risks by tracking cargo origin, infrastructure exposure, and shifting jurisdictional timelines for defensible compliance decisions.

windward.ai

 

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Interesting story, good read.

The Tanker Tycoon Making Millions on Hormuz Shuttle Runs

Just a few weeks into the war, one of the Persian Gulf’s top oil producers quietly began sneaking its crude out of the Strait of Hormuz. Before long, the covert project became so successful that the United Arab Emirates was already approaching its pre-war rate of flows through the waterway by...

gcaptain.com

 

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GMS Sees U.S. Recycling License as Blueprint to Retire Shadow Fleet Vessels

Global ship recycler Global Marketing Systems (GMS) says a recent U.S. government license authorizing the recycling of four sanctioned vessels could provide a long-sought legal pathway for retiring aging ships...

gcaptain.com

Japan's Mideast Crude Supply to Rebound in July as Stranded Vessels Exit Hormuz

Japan will receive a boost in Middle East crude supply this month as two more stranded Japanese-owned supertankers carrying Saudi oil were exiting the Strait of Hormuz on Tuesday, shipping data showed.

gcaptain.com

 

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Russia’s Oil Windfall Vanishes as Urals Crashes to $42 a Barrel | OilPrice.com

Russian crude oil prices have fallen back to where they were before the Middle East war, with its flagship Urals averaging just $41.66 a barrel during the first three days of July.

oilprice.com

 

[nickndfl]

I just fillled up @ $2.94 in Lake Worth at a 7-11. If you have the app it's 50 cents off per gallon on the 7th and the 11th of each month.

 

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Short-Term Energy Outlook - U.S. Energy Information Administration (EIA)

www.eia.gov

 

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Critics point out the irony of Trump’s 'Freedom Fuel' scheme​

On Tuesday, the White House announced the launch of President Donald Trump’s “Freedom Fuel Network” of gas stations offering lower fuel prices in Philadelphia, but while the administration clearly expected applause, critics were quick to point out the grift and irony of the endeavor.

“FREEDOM FUEL HAS ARRIVED,” blared the White House X account, claiming, “the FIRST Freedom Fuel Network gas station has LANDED in Philadelphia, lowering the price at the pump to $3.47 for our 47th President. President Trump is leading the charge to lower gas prices this summer – putting more money in your pocket.” This was shared along with a video showing customers thanking Trump while a voiceover boasted about a series of area gas stations that will keep prices an average of 50 cents lower than other state stations, locking the “47” into the price in honor of Trump.

More:

https://www.msn.com/en-us/news/poli...edom-fuel-scheme/ar-AA27q08D?ocid=socialshare

 

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Oil prices jump after Trump says ceasefire with Iran is over​

Oil prices jumped 6% after President Trump said he believed his ceasefire deal with Iran was over, the strongest signal yet that diplomatic efforts with Tehran have stalled since the preliminary agreement reached in mid-June.

In midmorning European trade, front-month Brent crude futures gained 6% to $78.63 a barrel, while West Texas Intermediate rose 6.2% to $74.85 a barrel. Natural-gas prices climbed, with the benchmark Dutch TTF contract up 4.8% to 49.04 euros a megawatt-hour.

More:

https://www.msn.com/en-us/money/mar...an-exchange-fire/ar-AA27rLyI?ocid=socialshare

 

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Damaged Qatari LNG Tanker Awaits Salvage After Strike Near Hormuz

Qatari LNG tanker Al Rekayyat is stationary near the Strait of Hormuz and awaiting salvage operations once a fire on board has been extinguished, according to ship tracking data and industry sources on Wednesday, a day after it was hit by a projectile.

gcaptain.com

 

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World LNG Report 2026 | International Gas Union

The 2026 edition of the International Gas Union’s (IGU) World LNG Report released today shows record trade, near-record investment and a strong long-term growth outlook despite unprecedented market disruption.

www.igu.org

 

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Indonesia Gets First Russian Oil Shipment After Deal with Moscow

Indonesia imported Russian crude oil for the first time since a deal struck between the two nations in April, a sign of how Moscow has taken advantage of the Iran conflict to grow its customers.

gcaptain.com

Russia Bans Diesel Exports After Ukrainian Strikes Threaten Domestic Supplies

Russia introduced a ban on diesel exports on Wednesday as part of a raft of measures to support the domestic fuel market after systematic Ukrainian drone attacks on oil refineries triggered gasoline shortages and price spikes.

gcaptain.com

First LNG Cargo Ships from TotalEnergies' Mexican Plant Energia Costa Azul

French oil major TotalEnergies TTEF.PA has shipped the first liquefied natural gas cargo from the Energia Costa Azul plant in Mexico destined for Asia, it said on Thursday, though full commercial operation has not yet been reached.

gcaptain.com

 

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China Begins to Return to the World Oil Market

China's withdrawal from the global oil market was one of the biggest surprises of the Strait of Hormuz shutdown. Shortly after Iran closed the strait...

maritime-executive.com

 

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U.S. exports of crude oil and petroleum products reached record in April - U.S. Energy Information Administration (EIA)

www.eia.gov

 

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When Did The War Move Inside The Refineries?

A book on how the last great war was actually won explains what the US just did to Iran and what Ukraine is doing to Russia.

themerchantsnews.substack.com

 

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Court Dismisses Challenge to Delfin LNG Deepwater Port License

Environmental groups lacked standing to sue, clearing another legal hurdle for America’s first offshore LNG export project A federal appeals court has dismissed a legal challenge to the U.S. Maritime...

gcaptain.com

 

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UAE’s Oil Output Surged to Record High in June, IEA Says

The United Arab Emirates boosted crude oil production to an all-time high last month, the most compelling evidence yet of how Abu Dhabi responded more boldly than any of its Persian Gulf neighbors to disruption caused by the Iran war.

gcaptain.com

 

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Oil Market Recovery Hinges on Hormuz Stability as IEA Warns Renewed Fighting Clouds Outlook

Global oil markets are beginning to recover from months of disruption, but the International Energy Agency says the outlook remains heavily dependent on whether shipping through the Strait of Hormuz...

gcaptain.com

 

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The Strait Of Malacca Faces Growing Fears Of Copycat Shipping Fees | OilPrice.com

Any disruption or added costs in Malacca would hit Asian energy importers hard, raise shipping and insurance costs, and put fresh upward pressure on global oil prices.

oilprice.com

 

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Oil’s Calm Is Over as Middle East Risks Return | OilPrice.com

Renewed U.S.-Iran strikes have revived the Middle East risk premium, lifting Brent above $76 as traffic through the Strait of Hormuz slows and supply disruption fears return.

oilprice.com

 

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The Next Bull Market Could Be Built on Inventory Replenishment | OilPrice.com

The biggest threat is no longer lost supply, but the need for governments, refiners, and traders to rebuild depleted strategic and commercial oil inventories.

oilprice.com