http://www.hydrocarbonprocessing.com Hydrocarbon Processing http://hydrocarbonprocessing.com/news/2026/06/iea-sees-significant-2027-oil-surplus-after-hormuz-recovery/ The Iran war is estimated to have blocked more than 14 MMbpd of Middle East oil output. http://hydrocarbonprocessing.com/news/2026/06/opinion-is-the-iran-war-just-an-energy-shock-or-a-turning-point/ At least 1 billion barrels of crude oil and refined products have been lost from Middle East producers such as Iraq, Kuwait, the United Arab Emirates and Iran itself. As much as 20% of global liquefied natural gas supply is also trapped in the narrow waterway between Iran and Oman. http://hydrocarbonprocessing.com/news/2026/06/us-refiners-can-still-absorb-more-venezuelan-oil-energy-secretary-wright-says/ Venezuela is sending about half of its total exports of 1.25 MMbpd to the U.S., with the remaining volumes going mainly to India and Europe. http://hydrocarbonprocessing.com/news/2026/06/britain-says-full-import-ban-on-russian-diesel-jet-fuel-will-happen-by-2027/ The government said existing sanctions were not being lifted, but new sanctions were being phased in. http://hydrocarbonprocessing.com/news/2026/06/imo-definition-of-brazil-corn-ethanol-carbon-footprint-a-landmark-step/ In May, the IMO defined the default value of Brazilian corn ethanol's carbon footprint at 20.8 grams of carbon dioxide-equivalent (CO2e) per megajoule, specifically referring to biofuel produced from the country's intermediate or second-corn crop. http://hydrocarbonprocessing.com/news/2026/06/indonesia-raises-price-of-widely-used-fuel-by-32-adds-to-cost-of-living-concerns/ http://hydrocarbonprocessing.com/news/2026/06/opinion-hormuz-reopening-could-be-opec-s-undoing/ The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas flowed before the conflict – have sharply diminished output from the Organization of the Petroleum Exporting Countries and moved the industry’s center of gravity away from the Middle East. http://hydrocarbonprocessing.com/news/2026/06/us-sanctions-cuban-state-oil-company-adding-obstacles-for-fuel-imports/ Washington has imposed sanctions on an array of Cuban entities and people, including the island nation's president, as it seeks to intensify pressure on Cuba's communist leaders. http://hydrocarbonprocessing.com/news/2026/06/eu-proposes-21st-package-of-sanctions-against-russia-targeting-banks-refiners-traders-lng/ The EU has proposed a 21st package of sanctions against Russia for its war in Ukraine, heavily targeting the country's banks and crypto networks as well as drone production, oil traders and refiners. http://hydrocarbonprocessing.com/news/2026/06/eia-us-jet-fuel-production-rises-after-prices-doubled-in-march/ Higher crude oil prices and supply concerns, particularly in Europe and Asia, which previously imported much of their jet fuel supply from the Persian Gulf, have driven up jet fuel prices.