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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 · a month 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.
Energy & Commodities · a month agoEU imports from Russia's Yamal LNG hit record 9.97 million tons in January-June 2026
Kpler data showed EU countries received 136 cargoes from the Yamal LNG export facility in January-June 2026, totaling 9.97 million metric tons, about 16% more than a year earlier. France, Belgium and Spain were the main destinations as the EU implemented staged limits on Russian gas, including restrictions on short-term LNG imports and transshipment.
Energy & Commodities · a month 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 · a month 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 · 2 months 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.
Energy & Commodities · 2 months agoQatar says LNG production should normalize within weeks as damaged facilities remain under repair
Qatar’s prime minister said LNG operations should return to normal within a few weeks, while damaged Ras Laffan facilities remain on a separate repair timeline. QatarEnergy said force majeure on some long-term supply contracts will be lifted only after it determines operating conditions are safe, following March 18-19 attacks that damaged two LNG trains.
Energy & Commodities · 2 months agoU.S., Qatar Raise Gas Supply Concerns Over EU Methane Import Regime
The EU regulation phases in importer disclosure from May 2025, equivalent methane monitoring and verification requirements from January 2027, methane-intensity reporting from August 2028 and an intensity threshold from 2030. U.S. and Qatari stakeholders have said unresolved equivalence standards and LNG traceability requirements could limit compliant volumes entering Europe.
Energy & Commodities · 2 months agoUS reaches $765 million settlement with Invenergy to end four offshore wind leases
The Trump administration said it will reimburse Invenergy $765 million under a settlement to terminate four offshore wind leases. The projects include Leading Light Wind, planned for up to 2.4 gigawatts, and other lease areas located off the coasts of Maine and California, according to disclosed statements.
Geopolitics & Trade · 2 months agoReport says US assessment finds Iran able to block Strait of Hormuz after conflict
A report says US intelligence agencies recently assessed that Iran can effectively stop access through the Strait of Hormuz. Separate disclosed accounts said a tentative US-Iran arrangement under discussion would reopen the waterway, though details had not been made public at the time of the reports.