Energy
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How global energy markets built the ‘Amazon of oil’ logistics to keep prices from spiraling
Businesses and governments managed to keep energy prices from skyrocketing as much as feared during the Iran war by leaning into a “just-in-time” delivery system that harnesses innovations in digital and satellite technology and that reduces the need to stockpile barrels of oil. Call it the “Amazon of oil,” said Jim Wicklund, a veteran oil…
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The supertanker 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 the time the US…
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Oil, gas tankers cross Hormuz via Oman-side route after U-turns
Oil and gas shipping along a US-protected corridor in the Strait of Hormuz showed signs of recovering Sunday, a day after a batch of vessels performed unexplained U-turns and detours in the vital energy corridor. Six oil and gas freighters were observed navigating on a route that cleaves close to Oman’s coast. Those are only…
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Russia’s fuel crisis is so bad that a mom and her baby waited in line for 18 hours to get gas — ‘Are we in the Soviet Union?’
The fuel shortage ravaging Russia has forced motorists around the country to wait in endless lines to fill up, evoking memories of communist-era privation. Ukraine’s months-long campaign of drone strikes on oil infrastructure deep inside Russian territory has forced oil refineries to shut down. Energy analysts have estimated that 25% or more of Russia’s refining…
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Iran’s envoy to China says Beijing to get Hormuz concessions
Iran’s ambassador to Beijing said China and other friendly nations will be granted “special considerations” when Tehran determines the level and nature of service fees charged to ships using the Strait of Hormuz. Abdolreza Rahmani Fazli said the critical waterway for energy supplies is now a matter of “national security” in the aftermath of the…
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Ukrainian drones target more Russian oil infrastructure as fuel crisis adds political pressure on Putin, who shrugs off attacks as ‘not critical’
A Ukrainian drone attack struck an oil terminal in St. Petersburg on Saturday, Russian officials said, as Kyiv presses on with bombardment of Russia’s oil infrastructure. Almost daily long-range attacks on Russian oil facilities have created a fuel crisis and heaped political pressure on the Kremlin as its all-out invasion of Ukraine stretches into its…
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How a third-generation Texas oilman transformed an organic farming company into a leading advanced nuclear startup at a small Christian college
Nearly a decade ago, third-generation Texas oilman Doug Robison was plotting his retirement and the sale of his petroleum company when a trip to his children’s alma mater, Abilene Christian University, changed his career trajectory—at an atomic level. He heard a brief talk from Rusty Towell, the director of the school’s Nuclear Energy Experimental Testing…
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Russians live with fuel shortages and rationing as Putin insists the war against Ukraine will go on
Despite severe fuel shortages across Russia, President Vladimir Putin appears unbothered by Ukraine’s increasing attacks on his country’s oil refineries. He has shrugged off the setback for one of the world’s leading oil-producing nations as “not critical,” dismissed ceasefire proposals and insisted the war will continue until his goals are met. Putin has described the attacks on Russian energy as an…
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The Iran conflict saw jet fuel prices soar—when you use 1.88 million tonnes a year, how you respond really matters (just ask DHL)
Since the start of the U.S.-Iran conflict and the closure of key shipping lanes in the Strait of Hormuz, businesses have been affected by supply chain issues and rising fuel prices. Jet fuel became a particularly expensive commodity, more than doubling in price from $800 per tonne prior to the conflict to a peak of…
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Markets feel relief as the U.S. and Iran agree to a ceasefire on their earlier ‘ceasefire’ that was looking at lot like a war over Hormuz
Stock futures rallied on Sunday evening after the U.S. and Iran appeared to step back from a weekend of escalating violence in the Persian Gulf. Futures tied to the Dow Jones industrial average rose 101 points, or 0.19%. S&P 500 futures were up 0.45%, and Nasdaq futures jumped 0.64%. But energy markets were still spooked…