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Oil Tumbles 3% as Iran Floats Hormuz Reopening Within a Week

Iran has offered to open the Strait of Hormuz within seven days if the United States eases its pressure including taking steps toward ending the U.S. military blockade of Iranian ports and halting military operations in the Strait, a senior Iranian government official told Japan’s news agency Kyodo News on Tuesday. Hopes of a diplomatic breakthrough and Iran’s reported preparedness to reopen the Strait of Hormuz if the U.S. takes steps to ease the pressure sent oil prices tumbling by 3% early on Tuesday. The international benchmark,…

OilPrice.comOilPrice.comCharles Kennedy22 Sept

Hormuz Blockage Puts Qatar's $83 Billion LNG Bet at Risk

QatarEnergy CEO and Qatar Energy Minister Saad al-Kaabi says the Strait of Hormuz crisis could delay the company's LNG expansion because critical equipment cannot reach Qatar, Reuters reported on Monday. North Field East's first production train remains on schedule for the first half of 2027, Al-Kaabi said, but additional trains are contingent on Hormuz traffic resuming and North Field South beginning production on schedule in 2028. Iran's March 18 missile strike on Ras Laffan Industrial City knocked out two of Qatar's 14 LNG trains, removing 17%…

OilPrice.comOilPrice.comCharles Kennedy21 Sept
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Saudi Export Pivot Sends Brent Below $105

Saudi Aramco shifts crude exports to the Persian Gulf, easing supply fears and pushing Brent below $105. Friday, September 18, 2026 Last week’s market panic about the 7 million b/d East-West pipeline remaining offline for weeks gave way to a slightly more nuanced outlook this week, with Saudi Aramco re-orienting all its loadings to the Persian Gulf. Whilst flows from Ras Tanura still carry the risk of potential Iranian drone strikes in the Strait, the fact that Saudi Aramco keeps on offering crude to Asian buyers (in contrast to its Europeans…

OilPrice.comOilPrice.comTom Kool18 Sept

LNG Tankers Push Through Hormuz Again as Qatar, UAE Fight Supply Crunch

At least two LNG carriers have transited the Strait of Hormuz so far this week, while two others were detected to have engaged in ship-to-ship transfers outside the Strait offshore Oman, tanker-tracking and satellite data compiled by Bloomberg showed on Friday. The uptick in LNG cargoes managing to exit the Strait of Hormuz signals that the LNG exporters in the Persian Gulf, mostly Qatar and the United Arab Emirates (UAE), are intensifying efforts to have LNG supply push through the chokepoint after months of near-total halt of shipments. While…

OilPrice.comOilPrice.comCharles Kennedy18 Sept