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Trump Proposes 20% Strait of Hormuz Cargo Levy; Benchmark VLCC Transit Cost Implied Near $30 Million
Analyses published July 13 estimated the proposal at about $30 million for a 2 million-barrel VLCC cargo and roughly $17 million for a fully laden large gas carrier at current prices. No collection or enforcement mechanism has been detailed, while the IMO has said international straits have no legal basis for compulsory tolls.
Companies & Earnings · 12 days agoBP Guides 2Q Net Debt to $22 Billion-$23 Billion, Flags Higher Oil Trading and Lower Output
BP said second-quarter net debt should decline to $22 billion-$23 billion from $25.31 billion at the end of the first quarter, while oil trading is expected to be slightly stronger and gas trading broadly unchanged. Upstream production is seen at 2.17 million-2.22 million boe/d, down from 2.34 million in 1Q.
Geopolitics & Trade · 12 days agoJuly 14: U.S. says it struck Iranian coastal sites after UAE reports cruise-missile attack on two tankers in Hormuz
CENTCOM said its July 13 mission targeted Iranian air defense, radar, missile, drone and small-boat assets across several coastal locations and issued notice that a naval blockade regime resumes July 14. Regional media citing the UAE Ministry of Defence said two tankers in Omani waters were hit by two Iranian cruise missiles, with one fatality and multiple injuries.
Energy & Commodities · 12 days agoOil reaches four-week high with Brent above $85 amid renewed U.S.-Iran action in the Strait of Hormuz
Brent traded around $85.20 a barrel and WTI near $80.05 in early Singapore hours on July 14, with Brent at its highest level in four weeks. Brent had risen 9.6% in the previous session. Ship counts through Hormuz fell to 11 on July 12 from 32 on July 10, and tanker attacks were reported.
Energy & Commodities · 12 days agoJune 11: OPEC cuts 2026 world oil demand growth estimate to 970,000 bpd
On June 11, OPEC lowered its 2026 global oil demand growth forecast to 970,000 barrels per day from 1.17 million, implying total demand of 106.13 million bpd. It left economic growth assumptions unchanged, raised its 2027 demand growth outlook to 1.73 million bpd, and reported May OPEC+ output at 33.13 million bpd.
Energy & Commodities · 18 days agoU.S. launches strikes on Iran, revokes oil-sales license after Hormuz vessel attacks
Reuters reported attacks on three commercial vessels in the Strait of Hormuz and said U.S. Central Command described subsequent U.S. strikes on Iran as responsive to the shipping incidents. Brent settled at $74.16 a barrel and WTI at $70.44, while OFAC limited previously authorized Iran oil trade to wind-down activity through July 17.
Energy & Commodities · 18 days agoOil gains about 3% in early Asia after renewed U.S.-Iran strikes and tighter limits on Iranian crude
Brent and WTI each rose about 3% intraday as markets assessed renewed military exchanges between the United States and Iran and Washington's move to restore restrictions on Iranian crude sales. Traders also tracked risks to Strait of Hormuz shipping, expected U.S. inventory draws and short-covering from large bearish positions.
Geopolitics & Trade · 20 days agoJune 18: More ships resume Strait of Hormuz passages as US-Iran ceasefire remains in effect
Danish shipping group BIMCO said more vessels were resuming Strait of Hormuz passages after the US-Iran ceasefire, but warned that congestion, navigational incidents and electronic interference still affect transit decisions. It said operators should rely on voyage-specific risk assessments and official advisories, and that a return to pre-conflict traffic could take months.
Energy & Commodities · 20 days agoJune 23, 2026: Hormuz shipping edges higher while the US-Iran truce remains in place
Ship traffic through the Strait of Hormuz has increased from fewer than 10 daily transits in early March to about 35 on June 22, with some oil tankers and seven ballast LNG carriers entering the Gulf. Insurance costs remain above prewar levels, and shipping groups say routing, safety and tracking disruptions continue to limit a broader recovery.
Companies & Earnings · 25 days agoEni joins Mercuria in Geneva-based 50-50 venture for global energy trading
Eni said it signed an agreement with Mercuria to create a 50/50 venture that will handle selected energy commercialization and trading activities, including oil, biofuels, natural gas, LNG and LPG, along with related logistics and infrastructure rights. Mercuria said the Geneva-headquartered platform is expected to start operating in 2027, subject to regulatory approvals.