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(Bloomberg) — Global oil inventories will tumble this quarter at more than twice the rate previously estimated as the Iran war flares again, even as the hit to demand from high prices deepens, the International Energy Agency said. Read More
(Bloomberg) — Abu Dhabi National Oil Co. is offering to shuttle exports of Iraqi oil through the Strait of Hormuz, using its dark-transit playbook to transport Basrah and other crude to refiners in Asia, according to people familiar with the matter. Read More
(Bloomberg) — President Donald Trump claimed the US had “total control over the Hormuz Strait,” as Washington and Tehran hardened their stances in deadlocked negotiations over the waterway. Read More
(Bloomberg) — For years, the Pacific islands managed something remarkable — some of the smallest nations in the world persuaded their larger, more powerful allies that climate change was the region’s defining security challenge and pushed them to act. Read More
(Bloomberg) — Oil held a five-day gain as traders monitored efforts to reach a deal that could help restore energy flows through the Strait of Hormuz. Read More