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Analysis:Global oil inventories depleted, next price spike could roil economies, markets
Analysis:Global oil inventories depleted, next price spike could roil economies, markets HOUSTON/NEW YORK, June 5 : Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry executives and analysts warn there could be another oil price shock in the coming weeks, severe enough to upset broader financial markets. Some fear the next move higher for oil prices would pose a risk to economic growth, bond...
Sudden outbreak of wildfires near Canada’s oil sands threatens to disrupt supplies amid global energy crisis
Sudden outbreak of wildfires near Canada’s oil sands threatens to disrupt supplies amid global energy crisis Canada is the world's fourth-largest oil producer, and the bulk of its production is clustered in northern Alberta's boreal forest - Bookmark - CommentsGo to comments Seven active wildfires are burning near major oil sands sites in northern Alberta, raising fears of production disruption in a region that supplies a significant share of the world's crude oil. Canada is the world's...
The race for oil: will Jamaica be the next country to drill and what does that mean for its green pledges?
With early tests suggesting the presence of crude oil, the Caribbean island has begun to debate whether it could justify becoming a producerJamaica is closer than ever to drilling for oil. Tests on samples from the seabed off the Caribbean island’s south coast earlier this year identified hydrocarbons, which suggest the presence of crude oil below ground.Jamaica imports all its fuel, which costs about $1.5-2bn (£1.1bn-1.5bn) annually, depending on global oil prices. It is a persistent drag...
Giant fire tornadoes could clean up oil spills faster with less pollution
Giant fire tornadoes could clean up oil spills faster with less pollution What if one of the best ways to fight an oil spill is with a controlled fire tornado? - Date: - June 5, 2026 - Source: - Texas A&M University - Summary: - Researchers have shown that controlled fire whirls can clean up oil spills faster and more cleanly than traditional burning methods.
How the US naval blockade has bled Iran of nearly $6bn in oil revenues
How the US naval blockade has bled Iran of nearly $6bn in oil revenues Iran is exporting less than one-sixth of the oil it was shipping before the war began. Iran’s crude oil exports fell to their lowest level in at least six years in May, as a United States naval blockade squeezes Tehran’s most important source of income amid a fragile ceasefire between the two nations. The blockade on Iran’s ports, which Washington commenced on April 13, is part of President Donald Trump’s effort to...
Why China is buying less Iranian oil - explained in charts
The Strait of Hormuz, just 29 nautical miles (54 km) wide at narrowest point may be one of the world's most critical oil chokepoints. But as disruptions rattles the waterway, an unexpected trend is emerging, as China which is Iran's biggest oil customer is buying significantly less crude. While Beijing continues to rely on Tehran for discounted oil, weaker domestic demand, refinery cutbacks, record stockpiles and the rapid rise of electric vehicles have reduced its need for fresh imports.
Commentary: Brace for a flood of oil as soon as Hormuz reopens
Commentary: Brace for a flood of oil as soon as Hormuz reopens The reopening of the Strait of Hormuz will be an extraordinary event, but the oil industry doesn't have a playbook for it, says Javier Blas for Bloomberg Opinion. When the day comes, the reopening of the Strait of Hormuz will be an extraordinary event: restarting about 10,000 oil wells, pumping roughly 15 per cent of the world’s production, that had been shut down for a hundred days and counting. Nothing even remotely close has...
Omega-3 fish oil shows promise against type 2 diabetes
Omega-3 fish oil shows promise against type 2 diabetes Fish oil may help switch off inflammation-driven insulin resistance—even in type 2 diabetes patients who aren't overweight. - Date: - May 31, 2026 - Source: - São Paulo Research Foundation (FAPESP) - Summary: - A new study suggests fish oil may help reduce insulin resistance even in people who aren't obese.
Strait of Hormuz closure: Why high oil prices may be a temporary shock only - explained
Oil prices may average at around $87 per barrel in 2026 as the reopening of Strait of Hormuz in the coming months would ease crude supplies globally, says Fitch Ratings. Global oil markets are likely to move back into surplus once shipping through the Strait of Hormuz resumes, despite the sharp rise in prices caused by the closure of the key maritime route, the report says. “Oil prices will be lower if Hormuz reopens earlier.
Oil execs warn Trump that Iran war will cause gas prices to spike within weeks due to dwindling supplies: report
Oil execs warn Trump that Iran war will cause gas prices to spike within weeks due to dwindling supplies: report President Trump and administration officials have insisted gas prices will come down as soon as the war ends, but there is no deadline in sight - Bookmark - CommentsGo to comments Several oil industry executives have reportedly privately warned the White House that the ongoing closure of the Strait of Hormuz is straining global oil inventories and could lead to gas price spikes in...