US Energy Secretary Wright says roughly 72 ships have exited Strait of Hormuz in last 24 hours, amounting to 20 mln barrels of oil; Return to normal oil flows delayed due to Iranian mines in the Strait of Hormuz
Newsquawk Staff ·
- Iran will not have the ability to block Strait of Hormuz going forward.
- Even without an Iran deal, the US will ensure flows of oil through the Strait.
- Return to normalcy in Hormuz will take a few weeks.
- Expects to be able to raise Venezuela oil exports to 2mln BPD during this administration.
- SPR could reach 500mln barrels with creative refill.
- EU rules will make it nearly impossible to import US LNG.
- UAE Environment Ministry says a tanker oil spill is impacting beaches in Umm al-Quwain
- Japan government considers cutting gasoline subsidies from December, according to officials
- US President Trump says will release USD 150 mln to increase US refining capacity
- US President Trump invokes Defense Production Act for petroleum capacity and waives Section 303 rules to expand oil capacity
- QatarEnergy in advanced talks to with Venture Global (VG) to purchase at least 3mln metric tonnes of LNG per year, according to reports
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