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Gone quietEconomy

Part of US-Iran war

Iran war effects on oil market

Brent hit $110 a barrel for the first time since May as hopes of supply relief faded. Hormuz exports are about 42% below prewar levels, the IEA says diesel shortages could last into 2027 and is speeding its 400m-barrel stock release, and the US is weighing easing shadow-fleet sanctions and seeking to exchange up to 17m barrels of reserve oil. Spain's PM says the war has cost Europeans over €100bn.

Developments
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The latest development

BloombergFri 16 Oct · 21:15 UTC

Brent oil hit $110 a barrel for the first time since May as prospects for imminent supply relief dwindle, prompting…

01The story so far
84 developments over eighteen days, a square each
02Developments

Developments

Saturday 17 October

1 development
  1. 02:15 UTC· the latest

    Sanchez: Iran war has cost Europeans over €100bn

    Spanish PM Pedro Sanchez said the war has cost Europeans more than €100bn ($112bn) and that Spain approved a €12bn package to protect citizens and sectors.

    2 sourcesAl Jazeera English, Middle East Eye
    • Al Jazeera EnglishXSat 17 Oct, 02:15

      Spain PM Pedro Sanchez says the US-Israel war on Iran has cost Europeans more than 100 billion euros ($112bn), with ordinary people paying the price. Spain approved a €12bn ($13.4bn) package to protect affected sectors and motorists. 🔴 LIVE updates:
      The original post
    • Middle East EyeRSSSat 17 Oct, 02:38

      Spanish PM says Iran war has cost Europeans more than $112 billion Spanish PM says Iran war has cost Europeans more than $112 billion Spanish Prime Minister Pedro Sanchez has said the war on Iran has already cost Europeans more than 100
      The original post

Friday 16 October

2 developments
  1. 21:15 UTC

    Brent hits $110, highest since May

    Brent crude reached $110 a barrel as traders added bullish bets ahead of the weekend with no imminent supply relief in sight.

    1 sourceBloomberg
    • BloombergBlueskyFri 16 Oct, 21:15

      Brent oil hit $110 a barrel for the first time since May as prospects for imminent supply relief dwindle, prompting traders to ramp up bullish bets ahead of the weekend Brent oil hit $110 a barrel for the first time since May as prospects for imminent supply relief dwindle, prom
      The original post
  2. 15:34 UTC

    US seeks exchange of up to 17m barrels from reserve

    The Energy Department issued a request for proposals for an exchange of crude from the Strategic Petroleum Reserve.

    1 sourceReuters
    • ReutersBlueskyFri 16 Oct, 15:34

      US solicits exchange of up to 17 million barrels of oil from strategic reserve The United States has issued a request for proposal ​for an exchange of up to ‌17 million barrels of crude oil from the nation's Strategic Petroleum Reserve, the Department ​of Energy said on Friday.
      The original post

Thursday 15 October

6 developments
  1. 16:15 UTC

    IEA to speed oil stock release, including 20 million barrels of diesel

    The IEA agreed to release over 20 million barrels of diesel as soon as possible plus any remainder of the March emergency release, and confirmed about 330 million barrels released so far.

    3 sourcesReuters, Al Jazeera English, Middle East Eye
    • ReutersBlueskyThu 15 Oct, 16:15

      IEA to speed up oil stocks release including over 20 million barrels of diesel The ​International Energy Agency on Thursday agreed to release over 20 million barrels of diesel to the market as ‌soon as possible and any oil remaining from a record emergency reserves release pledg
      The original post
    • Al Jazeera EnglishXThu 15 Oct, 17:36

      The International Energy Agency (IEA) has confirmed the release of about 330 million barrels of emergency oil. It is part of a March agreement to release 400 million barrels to address the supply disruption. 🔴 LIVE updates:
      The original post
    • Middle East EyeRSSThu 15 Oct, 17:45

      IEA confirms release of 330 million barrels of oil reserves amid Iran war disruptions IEA confirms release of 330 million barrels of oil reserves amid Iran war disruptions The International Energy Agency (IEA) confirmed on Thursday the r
      The original post
  2. 15:45 UTC

    IEA: oil stock release to exceed 400 million barrels

    The IEA said total stocks to be released will exceed the 400 million barrels agreed in March, and members committed to speed up releasing the remaining volumes.

    1 sourceReuters
    • ReutersBlueskyThu 15 Oct, 15:45

      IEA says total oil stock release will exceed 400 million barrels The International Energy Agency ​said on Thursday that ‌the total amount of stocks to ​be released will ​exceed the original 400 ⁠million barrels agreed ​upon in March ​and its members have committed to speed up th
      The original post
  3. 11:45 UTC

    UN agency: Hormuz disruption starting to hit harvests

    The head of a UN rural development agency said the shipping disruption is already visible in farm output, threatening lower yields and higher food prices.

    1 sourceReuters
    • ReutersBlueskyThu 15 Oct, 11:45

      Hormuz shipping disruption is starting to hit harvests, UN agency says The impact of the disruption to shipping through the Strait of Hormuz is already becoming visible in agricultural harvests, threatening to ​lower farm yields and push up food prices, the head of ‌a United Nat
      The original post
  4. 07:25 UTC

    Kenya raises petrol and diesel prices on Middle East costs

    The energy regulator lifted maximum retail prices, citing higher import costs linked to the Middle East conflict.

    NairobiKE

    1 sourceReuters
    • ReutersBlueskyThu 15 Oct, 07:25

      Kenya raises fuel prices as Middle East conflict lifts import costs Kenya raised the maximum retail prices of petrol and ​diesel on Wednesday, the energy ‌regulator said, citing higher import costs linked to the conflict in the ​Middle East.
      The original post
  5. 05:57 UTC

    White House weighs easing sanctions on shadow-fleet tankers

    Reuters reports the Trump administration is considering letting sanctioned tankers carry 'legal' oil with Treasury permission, to lower record freight rates and move more Gulf crude and products.

    2 sourcesТопор Live, Meduza
    • Топор LiveTelegramThu 15 Oct, 05:57RU

      ⚡️Белый дом может смягчить санкции против судов, перевозивших нефть из России, Ирана и Венесуэлы, — Reuters. Администрация Трампа рассматривает такую возможность для снижения рекордно высокой стоимости перевозок и увеличения объемов нефти и нефтепродуктов из стран Персидског
      The original post
    • MeduzaTelegramThu 15 Oct, 06:30RU

      США [рассматривают]( возможность смягчить санкции в отношении «теневого флота» Администрация Дональда Тра
      The original post
  6. 01:50 UTC

    Oil falls over $1 as sanctions easing weighed against Hormuz risks

    Oil prices fell more than $1 in early Thursday trade as investors weighed supply risks from attacks on Hormuz shipping against US efforts to cut petroleum shipping costs by easing sanctions on vessels.

    1 sourceReuters
    • ReutersBlueskyThu 15 Oct, 01:50

      Oil prices fall as investors weigh supply outlook, Middle East tensions Oil prices fell more than $1 in ​early trade on Thursday as investors weighed risks to supply from attacks on shipping through ‌the Strait of Hormuz against US efforts to cut petroleum shipping costs by easi
      The original post

Wednesday 14 October

4 developments
  1. 09:15 UTC

    IEA: diesel shortages could persist well into 2027

    The IEA's monthly report says counter-seasonal stock drawdowns and restricted output will keep diesel supplies tight ahead of peak winter demand.

    1 sourceReuters
    • ReutersBlueskyWed 14 Oct, 09:15

      Diesel shortages could persist well into 2027, IEA says Constrained diesel supplies could persist well into next year as large counter-seasonal stock drawdowns have combined with restricted production ahead of peak ​winter demand, the International Energy Agency said in its mont
      The original post
  2. 09:04 UTC

    CFTC staff told to retract analysis of suspicious oil trades

    Staff were reportedly told to withdraw analysis of large, well-timed futures and prediction-market trades made as the Iran conflict deepened.

    1 sourceThe Japan Times
    • The Japan TimesRSSWed 14 Oct, 09:04

      CFTC staff were told to retract analysis of suspicious oil trades As the Iran conflict deepened, examples multiplied of large, markedly well-timed trading in futures and prediction markets.
      The original post
  3. 07:10 UTC

    Oil rises as Iran targets Hormuz shipping with new tactics

    Prices climbed after two vessels were struck in the strait and Iranian officials said they aim to keep prices high ahead of the US midterms.

    1 sourceReuters
    • ReutersBlueskyWed 14 Oct, 07:10

      Oil prices rise as Iran deploys new tactics to target ships transiting Hormuz Oil prices climbed on Wednesday after two vessels were struck in the Strait ‌of Hormuz and Iranian officials told Reuters they were deploying new tactics to target ships, as Tehran seeks to keep oil pr
      The original post
  4. 06:24 UTC

    Iraq says crude exports reach 2.7 million bpd despite Hormuz crisis

    Iraq's Oil Ministry reported exports of roughly 2.7 million barrels per day despite disruption linked to the Strait of Hormuz.

    BaghdadIQ

    1 sourceAl Jazeera English
    • Al Jazeera EnglishXWed 14 Oct, 06:24

      Iraq’s crude oil exports have reached approximately 2.7 million barrels per day (bpd) despite disruptions linked to the Strait of Hormuz crisis, the Oil Ministry has reported. 🔴 LIVE updates:
      The original post

Tuesday 13 October

4 developments
  1. 17:35 UTC

    OPEC+ output jumps in September, led by Saudi Arabia

    OPEC said production rose sharply despite Hormuz shipping disruption.

    1 sourceReuters
    • ReutersBlueskyTue 13 Oct, 17:35

      Saudi leads jump in OPEC+ oil output in September, despite Iran war disruption Oil producer ‌group OPEC+ posted a sharp gain in production in September, OPEC said on Tuesday, driven by an increase from Saudi Arabia despite ongoing disruptions to shipments through the Strait of H
      The original post
  2. 10:38 UTC

    Japan-controlled tankers return to Middle East after months away

    Japan's risk-averse refiners and shipowners had stayed out of the wider Gulf area for over seven months of conflict.

    1 sourceThe Japan Times
    • The Japan TimesRSSTue 13 Oct, 10:38

      Japan-controlled tankers return to Middle East after months away Over more than seven months of conflict in the Persian Gulf, Japan's risk-averse refiners and shipowners have stayed away from the wider area.
      The original post
  3. 09:50 UTC

    BP says refining margins tripled on Iran war

    BP estimated third-quarter refining margins tripled year on year but flagged $3-4.5bn in impairments on gas and low-carbon.

    1 sourceReuters
    • ReutersBlueskyTue 13 Oct, 09:50

      BP sees refining margin triple, debt target reached, but flags more impairments BP estimated ​on Tuesday its third-quarter refining margins tripled from last year as the Iran war boosts profits for oil majors, but ‌also flagged $3 billion to $4.5 billion in impairments relating
      The original post
  4. 04:20 UTC

    Japan cabinet backs bills to offset costlier non-Hormuz crude imports

    Japan's cabinet approved three energy-security bills, including measures to offset higher costs of importing crude via routes bypassing the Strait of Hormuz. Industry Minister Ryosei Akazawa announced them.

    TokyoJP

    1 sourceReuters
    • ReutersBlueskyTue 13 Oct, 04:20

      Japan cabinet backs plan to help oil importers pay for higher transport costs Japan's cabinet approved three bills on Tuesday to strengthen energy supply security, including measures to offset higher costs of importing ​crude oil through routes that bypass the Strait of Hormuz,
      The original post

Monday 12 October

8 developments
  1. 20:25 UTC

    OPEC+ says shipping and insurance costs top a third of crude value

    OPEC and non-OPEC ministers said freight and insurance costs have hit unprecedented levels of over one third of the commodity's value, impeding crude and product flows. They called for safer sea routes.

    2 sourcesReuters, Топор Live
    • ReutersBlueskyMon 12 Oct, 20:25

      Shipping and insurance costs for energy flows surge, OPEC, non-OPEC ministers say Ministers of OPEC and non-OPEC Participating Countries in the Declaration ​of Cooperation said shipping and ‌insurance costs have surged to unprecedented levels of over one third of the ​commodity
      The original post
    • Топор LiveTelegramMon 12 Oct, 20:39RU

      ⚡️Расходы на перевозку и страхование нефти достигли рекордного уровня и превысили треть стоимости самого сырья, — ОПЕК. Причина — перебои с поставками. В ОПЕК+ подчеркнули необходимость обеспечить безопасность морских маршрутов и намерены вместе с правительствами, отраслевым
      The original post
  2. 19:25 UTC

    EU examines windfall tax on oil and gas companies

    The EU's tax chief told Reuters the bloc is considering a bloc-wide windfall profit tax as governments scramble to fund help with soaring energy bills.

    BrusselsBE

    1 sourceReuters
    • ReutersBlueskyMon 12 Oct, 19:25

      EU looking at oil and gas windfall profit tax, as energy prices soar The European Union ​is examining a bloc-wide windfall profit tax on oil and gas companies, the EU's ‌tax chief told Reuters on Monday, as governments scramble for funds to help citizens with soaring energy bill
      The original post
  3. 18:15 UTC

    Saudi Arabia eyes 10 million bpd pipeline export capacity

    Energy Minister Prince Abdulaziz bin Salman said the kingdom is looking to expand pipeline crude export capacity by repurposing a gas pipeline and investing in the East-West network.

    1 sourceReuters
    • ReutersBlueskyMon 12 Oct, 18:15

      Saudi Arabia eyes raising its pipeline oil export capacity to 10 million bpd, energy minister says Saudi Arabia is looking to expand its pipeline crude export capacity to ​as much as 10 million barrels per ‌day by repurposing a domestic gas pipeline and investing in its existing
      The original post
  4. 15:51 UTC

    Hormuz oil flows plunge to 2 million barrels a day

    The WSJ reports flows through the strait fell from 22.8 million barrels a day Thursday to 6.7 million Friday and 2 million Saturday, while Bloomberg says Brent rose close to $107.

    Strait of HormuzOM

    1 sourceТопор Live
    • Топор LiveTelegramMon 12 Oct, 15:51RU

      ⚡️Поставки нефти через Ормузский пролив резко сократились на фоне нестабильности на Ближнем Востоке, — The Wall Street Journal. В четверг через пролив проходило 22,8 млн баррелей нефти в сутки, в пятницу объём упал до 6,7 млн, а в субботу до 2 млн. Тем временем, как сообщае
      The original post
  5. 10:08 UTC

    Aramco studies new crude export routes and overseas storage

    Chief executive Amin Nasser said the company is looking at additional export routes and expanding overseas storage as regional conflicts disrupt energy markets.

    RiyadhSA

    1 sourceMiddle East Eye
    • Middle East EyeRSSMon 12 Oct, 10:08

      Saudi Aramco studying new crude export routes, overseas storage expansion Saudi Aramco studying new crude export routes, overseas storage expansion Saudi Aramco chief Amin Nasser said the company was studying additional crude oil export
      The original post
  6. 10:07 UTC

    OPEC cuts 2026 oil demand growth forecast to 400,000 bpd

    Secretary General Haitham al-Ghais said the forecast is down from 1.4 million bpd at the start of the year.

    RiyadhSA

    1 sourceAl Jazeera English
    • Al Jazeera EnglishXMon 12 Oct, 10:07

      OPEC has lowered its oil demand growth forecast for this year to 400,000 barrels per day from 1.4 million at the start of the year, Haitham al-Ghais, Secretary General of the organisation says. 🔴 LIVE updates:
      The original post
  7. 04:30 UTC

    Oil retreats as Trump announces Russia-Ukraine energy ceasefire

    Crude fell Monday and stocks rose after Trump announced an 'energy ceasefire' between Russia and Ukraine, with traders looking past the latest attacks on Saudi Arabia.

    2 sourcesBloomberg, France 24
    • BloombergBlueskyMon 12 Oct, 04:30

      Get up to speed on what's moving global markets Stock and bond futures advanced as crude oil retreated, with traders looking past the latest attacks on Saudi Arabia that threatened to widen the war in the Middle East.
      The original post
    • France 24RSSMon 12 Oct, 05:29

      Live: Oil prices fall after Trump unilaterally announces Russia-Ukraine 'energy ceasefire' Most stock markets rose Monday as oil prices tumbled after US President Donald Trump announced an alleged "energy ceasefire" between Russia and Ukraine, sparking astonishment from Kyiv and
      The original post
  8. 04:22 UTC

    Japan urges oil stockpiling and development as Mideast risks rise

    Japan is pushing for more oil stockpiling and development to reduce Asia's vulnerability to supply disruptions.

    1 sourceThe Japan Times
    • The Japan TimesRSSMon 12 Oct, 04:22

      Japan urges oil stockpiling and development as Mideast risks rise The push reflects Japan's efforts to reduce Asia's vulnerability to oil supply disruptions.
      The original post

Sunday 11 October

3 developments
  1. 23:45 UTC

    Oil climbs as Houthi strikes and tanker attacks persist

    Oil extended gains on Monday after Houthi strikes on Saudi Arabia intensified and two tankers were attacked over the weekend.

    1 sourceReuters
    • ReutersBlueskySun 11 Oct, 23:45

      Oil climbs as Mideast conflict, tanker attacks persist Oil prices extended gains on Monday as the Middle East conflict escalated ‌after Yemen's Iran-backed Houthis stepped up strikes on Saudi Arabia while two tankers were attacked over the weekend, raising concerns about oil sup
      The original post
  2. 21:19 UTC

    Canada plans big rise in diesel supplies to US

    After a call between Carney and Trump, Canada said it plans to raise diesel shipments to the US well above 1 million barrels a day.

    1 sourceТопор Live
    • Топор LiveTelegramSun 11 Oct, 21:19RU

      ⚡️Канада после разговора Карни и Трампа заявила о планах нарастить поставки дизеля в США, которые значительно превышают 1 млн баррелей в сутки. Об этом говорится в заявлении на сайте канадского премьера. [👉 Топор Live. Подписаться](
      The original post
  3. 06:15 UTC

    World Bank in talks with 30-40 countries on crisis aid

    World Bank president Ajay Banga told Reuters the bank is discussing potential crisis aid with 30 to 40 countries to help them manage energy shocks and price rises triggered by the Middle East war.

    2 sourcesReuters
    • ReutersBlueskySun 11 Oct, 04:10

      Middle East war, high debt levels to dominate IMF-World Bank meetings in Bangkok Finance officials from around the world will gather in Thailand this week under the shadow of a widening war in the Middle East, the biggest energy supply shock ever and rising interest rates that t
      The original post
    • ReutersBlueskySun 11 Oct, 06:15

      World Bank in talks with dozens of countries about crisis aid, Banga says The World Bank is in discussions with 30 to 40 countries about potential crisis aid to help them manage energy shocks and price increases triggered by the war in the Middle East, ​its president, Ajay Banga
      The original post

Saturday 10 October

1 development
  1. 06:25 UTC

    Hormuz oil exports fall 42% below prewar levels

    Kpler data cited by the FT show the seven-day average at 9.9 million bpd on October 7, down from about 15.5 million in September, as attacks on vessels intensified.

    Strait of HormuzOM

    1 sourceMiddle East Eye
    • Middle East EyeRSSSat 10 Oct, 06:25

      Increased vessel attacks drive Hormuz oil exports 'sharply lower', report says Increased vessel attacks drive Hormuz oil exports 'sharply lower', report says Hormuz oil exports were “sharply lower,” falling to a seven-day average of 9.9
      The original post

Friday 9 October

5 developments
  1. 20:17 UTC

    Delta cuts profit outlook as fuel costs jump $6bn

    Delta Air Lines lowered its annual profit forecast despite strong demand, saying fuel prices driven up by the Iran war will add about $6bn to its yearly fuel bill.

    2 sourcesAl Jazeera, Al Jazeera English
    • Al JazeeraRSSFri 9 Oct, 20:17

      Rising fuel costs slashed Delta’s profit outlook despite strong demand Rising fuel prices push Delta's annual fuel expenses up by $6bn, affecting its profit outlook for 2026.
      The original post
    • Al Jazeera EnglishXFri 9 Oct, 22:30

      Delta Air Lines cut its profit forecast despite heightened demand, saying fuel costs will jump by $6bn a year as the US-Israel war on Iran sends prices surging. 🔗
      The original post
03Seen in the story

What it looked like.

Fri 16 Oct · 21:15 · Bloomberg

Brent oil hit $110 a barrel for the first time since May as prospects for imminent supply relief dwindle, prompting…

Brent hits $110, highest since May

Fri 16 Oct · 15:34 · Reuters

US solicits exchange of up to 17 million barrels of oil from strategic reserve The United States has issued a request…

US seeks exchange of up to 17m barrels from reserve

Thu 15 Oct · 16:15 · Reuters

IEA to speed up oil stocks release including over 20 million barrels of diesel The ​International Energy Agency on…

IEA to speed oil stock release, including 20 million barrels of diesel

Thu 15 Oct · 15:45 · Reuters

IEA says total oil stock release will exceed 400 million barrels The International Energy Agency ​said on Thursday…

IEA: oil stock release to exceed 400 million barrels

Thu 15 Oct · 11:45 · Reuters

Hormuz shipping disruption is starting to hit harvests, UN agency says The impact of the disruption to shipping…

UN agency: Hormuz disruption starting to hit harvests

Thu 15 Oct · 07:25 · Reuters

Kenya raises fuel prices as Middle East conflict lifts import costs Kenya raised the maximum retail prices of petrol…

Kenya raises petrol and diesel prices on Middle East costs

Thu 15 Oct · 01:50 · Reuters

Oil prices fall as investors weigh supply outlook, Middle East tensions Oil prices fell more than $1 in ​early trade…

Oil falls over $1 as sanctions easing weighed against Hormuz risks

Wed 14 Oct · 09:15 · Reuters

Diesel shortages could persist well into 2027, IEA says Constrained diesel supplies could persist well into next year…

IEA: diesel shortages could persist well into 2027

Wed 14 Oct · 07:10 · Reuters

Oil prices rise as Iran deploys new tactics to target ships transiting Hormuz Oil prices climbed on Wednesday after…

Oil rises as Iran targets Hormuz shipping with new tactics

Tue 13 Oct · 17:35 · Reuters

Saudi leads jump in OPEC+ oil output in September, despite Iran war disruption Oil producer ‌group OPEC+ posted a…

OPEC+ output jumps in September, led by Saudi Arabia

Tue 13 Oct · 09:50 · Reuters

BP sees refining margin triple, debt target reached, but flags more impairments BP estimated ​on Tuesday its…

BP says refining margins tripled on Iran war

Tue 13 Oct · 04:20 · Reuters

Japan cabinet backs plan to help oil importers pay for higher transport costs Japan's cabinet approved three bills on…

Japan cabinet backs bills to offset costlier non-Hormuz crude imports

Mon 12 Oct · 20:25 · Reuters

Shipping and insurance costs for energy flows surge, OPEC, non-OPEC ministers say Ministers of OPEC and non-OPEC…

OPEC+ says shipping and insurance costs top a third of crude value

Mon 12 Oct · 19:25 · Reuters

EU looking at oil and gas windfall profit tax, as energy prices soar The European Union ​is examining a bloc-wide…

EU examines windfall tax on oil and gas companies

Mon 12 Oct · 18:15 · Reuters

Saudi Arabia eyes raising its pipeline oil export capacity to 10 million bpd, energy minister says Saudi Arabia is…

Saudi Arabia eyes 10 million bpd pipeline export capacity

Mon 12 Oct · 04:30 · Bloomberg

Get up to speed on what's moving global markets Stock and bond futures advanced as crude oil retreated, with traders…

Oil retreats as Trump announces Russia-Ukraine energy ceasefire

Sun 11 Oct · 23:45 · Reuters

Oil climbs as Mideast conflict, tanker attacks persist Oil prices extended gains on Monday as the Middle East conflict…

Oil climbs as Houthi strikes and tanker attacks persist

Sun 11 Oct · 06:15 · Reuters

World Bank in talks with dozens of countries about crisis aid, Banga says The World Bank is in discussions with 30 to…

World Bank in talks with 30-40 countries on crisis aid

Sun 11 Oct · 04:10 · Reuters

Middle East war, high debt levels to dominate IMF-World Bank meetings in Bangkok Finance officials from around the…

World Bank in talks with 30-40 countries on crisis aid