Crude oil
Australia, Singapore leaders pledge closer energy ties to tackle global supply shock
The leaders said they agreed to ensure the flow of essential supplies including diesel and LNG, making "maximum efforts" to boost their energy security.
Ireland facing 'very severe' situation due to protester fuel blockades, PM says
Industry group Fuels for Ireland said more than 100 petrol stations had run out of fuel and that number could rise to 500 by tonight.
Japan weighs new release of about 20 days' worth of oil from reserves
Japan, dependent on the Middle East for some 95% of its oil supply, began releasing oil from its stockpiles on March 16 in coordination with other nations and on its own.
Iran ceasefire provides hope, but physical oil markets to remain stressed
Disruptions from the effective closure of the Strait of Hormuz are now working their way through supply chains, and physical markets in Asia are under stress and will remain so for months even if it does reopen fully.
China's teapots seek Iranian oil after prices fall
The Chinese refiners, known as teapots, had largely stayed on the sidelines since the U.S.-Iran conflict broke out in late February, causing global oil prices to surge, while Washington temporarily waived sanctions on Russian, Iranian crude at sea erasing discounts for these cargoes.
Japanese refinery runs at lowest since June 2025 on Middle East supply crisis
Japan began to partially release oil stockpiles from March 16.
Venezuela's refineries down to 31% of crude processing capacity
The South American country has increased oil output and exports since it agreed to a flagship supply pact with the U.S. government in January, but limited power service, outages and need for major repairs and maintenance are creating obstacles to recovering refining operations.
Trump's shipping waiver does not boost oil flows within U.S.; fuel exports soar
Last month, Trump waived Jones Act limitations for 60 days starting March 17, hoping the move would help tame the surge in fuel prices caused by the Iran war by increasing shipments from the U.S. Gulf Coast to other coastal markets in the country.
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