Hormuz Disruption Tightens Fuel Markets, Sends Brent Above $85 and Asian LNG to $19.5/MMBtu
Renewed fighting between the U.S. and Iran and disruption in the Strait of Hormuz have tightened oil, fuel and gas markets, lifting Brent crude above $85 a barrel and Asian LNG to $19.5/MMBtu. U.S. gasoline prices rose for the first time since May as oil climbed roughly 15% in a week, while gasoline, diesel and jet fuel prices outpaced crude.
The squeeze comes as Europe is refilling gas storage for winter and competing more aggressively for LNG cargoes. European gas prices have climbed toward their highest since March, average storage is just over 52%, and key countries including Germany and the Netherlands are below that level, leaving fewer than four months to refill inventories to at least 80%. Global fuel supplies were already tight before the conflict, according to the posts.
From the sources (25 posts)
@oilheadlinenewsA commercial cargo ship transiting the Strait of Hormuz was damaged after being struck by an IRGC missile, a U.S. official says. @Osint613
@oilheadlinenewsIran’s Revolutionary Guards declare the Strait of Hormuz is closed “until further notice.”
@defencegeekRT @hey_itsmyturn: The Strait of Hormuz Has Been Closed as per IRGC IRGc Navy have announced that, due to the emergence of insecurity caus…
@phildstewart•IRAN'S IRGC NAVY SAYS ONE VESSEL THAT ATTEMPTED TO MOVE ALONG AN UNAPPROVED ROUTE IN STRAIT OF HORMUZ WAS 'STRUCK' BY A WARNING SHOT AND STOPPED -IRIB •IRAN'S IRGC NAVY SAYS FOLLOWING THIS INCIDENT, STRAIT OF HORMUZ IS CLOSED UNTIL FURTHER
@barakravid💥🇮🇷🇺🇸Iran strikes cargo ship in Strait of Hormuz, defying U.S. ultimatum. My report on @axios
@me_observer_⚡️ 🔴 Initial report of an explosion in Asaluyeh, Iran
@me_observer_⚡️🚨Initial Reports of Explosion in Bushehr, Iran
@sentdefenderU.S. retaliatory strikes are likely underway, following Iran’s announcement that they struck a vessel in the Strait of Hormuz, as explosions and reports of strikes in Bushehr and other areas are now being reported.
@osint613NOW: Explosions reported across Asaluyeh and Bushehr Province, Iran.
@ryanrozbianiU.S. Begins Attack on Iran Reports of strikes on Kangan and Asaluyeh a city in the Bushehr province in Southern Iran. Also reports of strikes on the fishing pier in Bandar Dayyer in southern Iran.
@joetruzmanIranian Telegram channels say that At approximately 2:45 a.m. Sunday, explosions were reported in several locations across southern Iran, including Bushehr, Asaluyeh, and southern Hormozgan Province.
@financialjuiceIran's Press TV: Explosions reported in Bushehr, Asaluyeh, southern Iran
@me_observer_⚡️🚨 The fishing pier in Bandar Abbas was targeted. ⚡️🚨 Explosions heard in Bushehr and Kangan cities in southern Iran
@clashreportBREAKING: Explosions reported in Bushehr and Asaluyeh in southern Iran.
@iranintl_enIran’s Press TV reported on Saturday explosions in Bushehr and Asaluyeh in southern Iran, without providing details on the cause or extent of any damage.
@warmonitor3US is attacking Iran right now in response to firing on a ship in the Strait of Hormuz.
@warmonitor3Large Explosions across southern Iran.
@ariel_oseranBREAKING: Explosions reported in Bushehr and Asaluyeh in southern Iran, according to state TV.
@endgameww3Update: Reuters on Iranian television: Reports have emerged of explosions occurring in Bushehr and Asaluyeh in southern Iran.
@endgameww3RT @hey_itsmyturn: Initial: The port in Deyr county of Bushehr Province has been targeted. Iran
@endgameww3RT @JoeTruzman: Iranian Telegram channels say that At approximately 2:45 a.m. Sunday, explosions were reported in several locations across…
@endgameww3RT @sentdefender: U.S. retaliatory strikes are likely underway, following Iran’s announcement that they struck a vessel in the Strait of Ho…
@oilheadlinenewsExplosions reported across Asaluyeh and Bushehr Province, Iran.
@me_observer_⚡️ Raid targets Bushehr port in southern Iran
@ryanrozbianiFootage of the U.S. launching Strikes on Southern Iran The HIMARS launches are coming from BAHRAIN bases The police HQ in Ahvaz, capital of Khuzestan Province, was hit by an airstrike There are also reports of attack on Ardabil in NORTHW