Kuwait Petroleum CEO says has had to ramp down crude production due to Strait blockade; seeing continued attacks against civilian infrastructure
Every headline is on the live feed 20 minutes before this site.
Turkish President Erdogan says considering various measures to protect economy from war fallout
USS Nimitz and Destroyer USS Gridley to deploy to the Southern Command area
Kuwait Petroleum CEO says has had to ramp down crude production due to Strait blockade; seeing continued attacks against civilian infrastructure
Chevron (CVX) plans to purchase oil from Sable Offshore (SOC) for LA refinery
French INSEE says inflation will accelerate to 2% in April and reach 2.2% in June; sees Q1 and Q2 GDP at 0.2%
On the Newsquawk feed at , 20 minutes before this page.
- Strategic petroleum releases "not even a stopgap measure".
- If the war were to end today, we could bring production back relatively quickly; it would take 3-4 months to reach full production.
Context
Kuwait Petroleum's CEO highlights the significant impact of geopolitical tensions, specifically the Strait blockade, on crude production, indicating a supply-side constraint that could support prices if maintained. The mention of strategic petroleum releases not being sufficient adds to concerns over supply, while the timeline for ramping back to full production underscores the fragility of the current situation. Traders should watch for potential volatility in WTI and Brent as these developments play out.
Related headlines
- CRUDE WRAP: WTI (X6) SETTLES USD 3.44 HIGHER AT USD 101.41/BBL; BRENT (Z6) SETTLES USD 3.94 HIGHER AT USD 109.86/BBL15 hours ago
- Japanese Chief Cabinet Secretary Kihara says Japan expects October crude procurement to be at the same level as last year1 day ago
- Germany's Upper House approves the further release of oil stocks following the G7 agreement23 hours ago
- US lawmakers introduce bill to block US President Trump’s Russia diesel deal18 hours ago
- Russia’s Ryazan oil refinery has halted operations of one of its primary units since October 15th drone attack, according to reports, citing sources18 hours ago
- Russian President Envoy Dmitriev says Russia and the US discussed in the Arctic and LNG20 hours ago
- Russia has reportedly doubled its attacks on Naftogaz facilities in 2026, sources say; Ukraine's 2026 gas consumption is seen falling by 1BCM after Russian strikes on business infrastructure22 hours ago
- Russian Deputy PM Novak says that he sees no obstacles to direct diesel shipments from Russia to the US, adding that restrictions have been lifted, TASS reports23 hours ago
- South Korea is reportedly to extend oil fuel price cap for another four weeks1 day ago
- Russia and Iran is reportedly discussing gas pipeline route and pricing1 day ago
- TREASURY WRAP: T-NOTE FUTURES (Z6) SETTLE 2+ TICKS LOWER AT 105-14+14 hours ago
- Indian shipping official says a crude oil tanker was targeted by a missile in the Strait of Hormuz; official also notes the Romania incident on October 14th16 hours ago
- Iran Foreign Ministry Spokesperson says Iran is ready to help peacefully resolve issues between Saudi Arabia and Yemen; has always been ready to use best efforts to help resolve the conflict16 hours ago
- [MARKET UPDATE] Crude benchmarks lift to session highs, gains of c. USD 2.00/bbl for WTI and Brent, to the continued detriment of fixed income, stocks and FX vs the USD17 hours ago
- US Midterm Preview: Democrats Favoured to Flip the House, Senate Too Close to Call19 hours ago
- US EQUITY OPEN: Stocks mixed at the open as AI stock rout continues20 hours ago
- Newsquawk European Market Wrap - 16th October 202620 hours ago
- Fire has been reported in another violating tanker in the Sea of Oman, Mehr News reports23 hours ago
- Newsquawk Daily US Opening News - 16th October 20261 day ago
- [MARKET ANALYSIS] Crude benchmarks softer as Trump states Iran asked for a halt to strikes; spot gold moves a little higher1 day ago
The feed had this first.
Use the Platform