Oil Market News, OPEC+, sanctions and price shocks

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Wood Mackenzie Mid-Year Outlook: oil and gas industry cash-rich but capital-cautious as nearly half a trillion-dollar windfall fails to trigger a spending surge

The global leader in commercial intelligence for the energy, metals and mining industries, providing objective analysis and advice on assets, companies and markets.

www.woodmac.com

 

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Qatar Sends First LNG Shipment Through Hormuz in Three Weeks

Qatar has sent its first shipment of liquefied natural gas through the Strait of Hormuz since one of its tankers was attacked in the waterway more than three weeks ago.

gcaptain.com

 

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Italy Becomes EU’s Top LNG Importer as Purchases Elsewhere Lag

Italy became Europe’s top importer of liquefied natural gas in July as traders made use of government incentives to keep buying cargoes despite soaring prices, while neighboring countries held back on costly purchases and allowed storage levels to lag.

gcaptain.com

 

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New LNG terminal and reservoir park under construction in Kola Bay

The industrial facilities under construction across the bay from the Northern Fleet headquarters in Severomorsk are part of a new major project—the Murmansk LNG—according to natural gas company Novatek.

www.thebarentsobserver.com

 

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ADNOC Makes One of the Biggest Changes to Middle East Crude Pricing in Years | OilPrice.com

ADNOC will shift all Abu Dhabi crude grades to prompt-month Platts Dubai pricing from November, improving price discovery and aligning crude pricing with refinery hedging

oilprice.com

 

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Saudis Push Maritime Coalition as Oil Finds Support | OilPrice.com

Brent is set for an 8% weekly loss, but ongoing disruptions in the Strait of Hormuz and the Red Sea continue to support oil prices near $90 a barrel.

oilprice.com

 

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GasLog LNG Carrier Damaged Exiting Hormuz as UKMTO Reports Two New Attacks

A GasLog-operated LNG carrier sustained damage while exiting the Strait of Hormuz on Friday as maritime security authorities reported two separate security incidents near the strategic waterway, highlighting the continued...

gcaptain.com

 

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Turkey Said To Extend Iraq Oil Pipeline Deal By One Year

By Firat Kozok, Patrick Sykes and Khalid Al-Ansary Aug 1, 2026 (Bloomberg) –Turkey reached an agreement with Iraq to extend an expired oil pipeline deal by one year and increase flows...

gcaptain.com

 

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EU Forces Board Sanctioned Russian 'Shadow Fleet' Tanker

ROME, Aug 2 (Reuters) – An EU naval mission led by Italy boarded a tanker from Russia’s so-called “shadow fleet” on Sunday, the second such operation in less than two weeks as Europe intensifies...

gcaptain.com

 

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Russia Assembles Unprecedented Arctic Oil Convoy to Bypass Global Shipping Hotspots

Russia has assembled an unprecedented fleet of oil tankers in the Arctic as it accelerates crude exports to Asia via the Northern Sea Route, with vessels carrying roughly 8 million barrels of oil already transiting or waiting to enter the ice-covered shipping lane; more than half the volume...

gcaptain.com

 

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Tanker boom of 2026, now second-best in history, shows no signs of abating

Today’s tanker market doesn’t yet deserve the ‘best ever’ moniker but it’s making a run for it. The 2000s supercycle, the best ever, was a demand-driven boom that lasted for years. This time it’s a vessel supply-driven boom caused by geopolitical disruptions

www.lloydslist.com

 

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Large group of sanctioned tankers prepares for icy convoy on Northern Sea Route

At least nine tankers and four cargo vessels are drifting in the northeastern part of the Kara Sea, waiting for nuclear icebreakers to escort them across the desolate Arctic waters.

www.thebarentsobserver.com

 

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EU weakens Russian LNG curbs in shock 2027 reversal

Greek pressure helped win exemptions letting EU firms ship and trade Russian LNG beyond 2027.

en.highnorthnews.com

 

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Dirty tanker loadings drop 62% from Russian ports in the Black Sea and Sea of Azov - Shipping Herald

“During the last two weeks of July, dirty tanker loadings from Russian Black Sea and Sea of Azov ports fell 62% compared to the previous four weeks’ average. Exports averaged 0.98 million barrels per day (mbpd) compared to 2.59 mbpd in the previous four weeks,” says Niels Rasmussen, Chief...

www.shippingherald.com

 

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Russia Sends Arctic Oil Tanker Shadow Fleet Within 500 Nautical Miles of North Pole

Russia has dispatched an unprecedented convoy of oil tankers to within 500 nautical miles of the North Pole sending the fleet onto one of the most northerly commercial shipping routes ever attempted in the Arctic.

gcaptain.com

 

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UK continues crackdown on Russia with tough new sanctions - Shipping Herald

Russian banks, shadow fleet ships and shady businesses have been slapped with UK sanctions for their role in Russia’s barbaric war on Ukraine. In his first major sanctions package, Foreign Secretary Ed Miliband has reinforced the UK’s commitment to the people of Ukraine by announcing new...

www.shippingherald.com

 

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Russia’s 'Derzhava' sneaks into Norwegian waters

Eight months after it was attacked by a Ukrainian drone in the Black Sea, a shadow tanker sailing under the name Derzhava ('great power') sailed only few kilometres south of Norway’s Bear Island in the Barents Sea.

www.thebarentsobserver.com

 

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Is Iran Preparing to Permanently Block the Strait of Hormuz? | OilPrice.com

Conflicting signals from Washington and Tehran keep oil markets on edge as Iran weighs a permanent Hormuz shipping ban while Trump insists a deal is within reach.

oilprice.com

 

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Coming Oil Shock—and Where Investors Could Profit

It’s certainly possible to profit from these things, but it’s more important to simply survive them. As a practical matter, in a depression, everybody loses. The winners are those who lose the least.

goldseek.com

 

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Oil prices rise as traders assess US-Iran talks on Strait of Hormuz deal​

Crude gains as traders watch for progress in US-Iran talks that could pave the way for a deal to secure passage through the Strait of Hormuz.​

Oil prices rose in early trading on Monday as market participants weighed mixed signals from the US and Iran, with concerns that a deal to reopen the Strait of Hormuz could take longer to materialise.

More:

https://www.euronews.com/business/2026/08/10/oil-prices-rise-as-traders-assess-us-iran-talks-on-strait-of-hormuz-deal

 

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Kharg Standstill and a Russian Convoy on the Arctic Route

Kharg Island's crude export pipeline is at a complete standstill, and an unprecedented convoy of Russian shadow fleet tankers is running the Northern Sea Route.

windward.ai

 

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Breakwave Bi-Weekly Tanker Report - August 11, 2026

Aug 11, 2026
For the full report visit our website www.breakwaveadvisors.com , or click here: https://static1.squarespace.com/stati...


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In unprecedented Arctic operation, Russia sends convoy of oil tankers to 81.5°N

Tankers loaded with up to one million tonnes of oil made history when they sailed north of Severnaya Zemlya en route to China. 'This is extremely risky,' says Norwegian expert.

www.thebarentsobserver.com

 

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ExxonMobil won big at a big Alaska lease sale. Months later, its bids are still in legal limbo - ArcticToday

In March, after a series of recent big oil discoveries in the National Petroleum Reserve in Alaska, ExxonMobil placed winning bids on two dozen leases in an auction. However, the Trump administration has yet to issue most of the leases.

www.arctictoday.com