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Oil prices rose by more than 2% after the U.S. attacks and the return of sanctions

Oil prices rose by more than 2% after the U.S. attacks and the return of sanctions

Reuters reported that oil prices on Wednesday rose by more than two percent after U.S. airstrikes on IRGC positions and the reinstatement of sanctions on the sale of crude oil by the Islamic Republic. According to the report, the price of Brent oil, by 4:00 a.m. Greenwich Mean Time, increased by $1.92 to reach $76.08 per barrel. U.S. West Texas Intermediate (WTI) oil was also traded up by $1.82 at $72.26. Reuters…

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Reuters: Damage to a Qatari LNG cargo ship in the Strait of Hormuz is assessed as significant

Reuters: Damage to a Qatari LNG cargo ship in the Strait of Hormuz is assessed as significant

Reuters, citing four knowledgeable sources, said that the damage caused to a Qatari ship carrying liquefied natural gas that was targeted in the Strait of Hormuz last night is being assessed as significant. These sources say that the ship’s engine room caught fire and the crew cannot assess the extent of further damage. However, the ship’s staff are safe. Bloomberg early Tuesday, 16 Tir, reported that the ship,…

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Reuters: Explosions of explosive devices in Damascus near Macron’s residence

Reuters: Explosions of explosive devices in Damascus near Macron’s residence

Reuters, citing a security source, reported that several explosive devices were detonated on Tuesday in Damascus, near a hotel where French President Emmanuel Macron was scheduled to stay. After these explosions, roads around the area were blocked and security measures were put in place. Macron is the first major leader of the European Union to travel to Damascus after the fall of Bashar al-Assad.

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Reuters: Global oil market has passed the war crisis with Iran without fuel shortages; refilling reserves would cost $70 billion

Reuters: Global oil market has passed the war crisis with Iran without fuel shortages; refilling reserves would cost $70 billion

Despite the loss of more than one billion barrels of supply since the start of the war with the Islamic Republic, the global oil market—contrary to initial concerns—did not face widespread shortages of gasoline, diesel, or jet fuel. According to Reuters, at the height of the crisis, supply disruptions reached 14 million barrels per day, but oil prices—after jumping to around $126 in April—are now lower than they…

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Iran’s oil production rises to 2.85 million barrels per day; still 500,000 fewer than before the war

Iran’s oil production rises to 2.85 million barrels per day; still 500,000 fewer than before the war

Iran’s oil production in the weeks after the reopening of the Strait of Hormuz has increased by about 500,000 barrels per day and has reached roughly 2.85 million barrels per day. However, Iran’s oil production is still estimated to be about 500,000 barrels per day lower than the level before the start of the war. At the same time, assessments by Bloomberg and Reuters indicate that OPEC member countries have also…

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Bloomberg and Reuters: OPEC oil production increased after the Hurmuz Strait obstruction was lifted

Bloomberg and Reuters: OPEC oil production increased after the Hurmuz Strait obstruction was lifted

Bloomberg and Reuters assessments of the immediate recovery of OPEC oil production following the lifting of the Islamic Republic’s blockade of the Strait of Hormuz. A Reuters review shows that last month OPEC’s daily oil production increased by 3.3 million barrels and, excluding the United Arab Emirates, which left this organization in May, reached 19 million and 430 thousand barrels. No report has yet been…

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Reuters: Alibaba barred employees from using Claude Code

Reuters: Alibaba barred employees from using Claude Code

🇨🇳🇺🇸⚡ Reuters: Alibaba has prevented employees from using Claude Code, an Anthropic company tool, because this AI coding tool has been under review due to features that could help identify users connected to China. 💢 Alibaba employees have instead been instructed to use the company’s own coding platform, Qoder 🔴 News

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Reuters: Iran is negotiating with Japanese companies to resume oil sales

Reuters: Iran is negotiating with Japanese companies to resume oil sales

🔶 Reuters: Iran is negotiating with Japanese companies to resume oil sales According to Reuters, on Friday, 12 Tir (July 3), citing three Iranian and Western sources, the Islamic Republic has begun negotiations with Japanese companies to resume oil sales. The talks are based on a U.S. sanctions waiver that allows Iran to restart oil sales. The waiver is part of a “60-day ceasefire for peace” between Tehran and…

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Reuters: Exxon and Chevron are ready to record unprecedented profits as oil prices surge

Reuters: Exxon and Chevron are ready to record unprecedented profits as oil prices surge

🇺🇸⚡ Reuters: US oil giants are expected to post their strongest quarterly profits since 2022, with predictions that Exxon Mobil and Chevron will report more than triple their profits from the first quarter, as rising oil prices and tight fuel markets have boosted profit margins. Strong results could create tensions with Donald Trump, who has asked the industry to reduce gas prices before the midterm elections in…

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