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US Oil Premiums Hit Record High As World Scrambles For Crude
US Oil Premiums Hit Record High As World Scrambles For Crude
By Charles Kennedy of Oilprice.com
The premiums for U.S. West Texas Intermediate crude have soared in the spot market to a record high of between $30 and $40 per barrel above key regional benchmarks as Asia and Europe scramble for supply amid the de facto closure of the Strait of Hormuz.
WTI Midland is being offered for July delivery in north Asia at premiums of between $30 and $40 per barrel, depending on the benchmark against which they are marked, trading...
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May 19, 2026 / Tyler Durden
Nigeria Needs New Export Markets As UAE's Exit Rattles OPEC
Nigeria Needs New Export Markets As UAE's Exit Rattles OPEC
By Tsvetana Paraskova of Oilprice.com
Nigeria should market its crude oil to new buyers as the UAE’s decision to leave OPEC is dislocating the balance that the cartel and the OPEC+ group have been seeking for years, according to Wole Ogunsanya, chairman of the Petroleum Technology Association of Nigeria (PETAN).
The official urged Nigeria’s state oil and gas firm NNPC and other producers of Nigerian crude to tap new markets.
“When OPEC gives you a quota, it’s left for you to find who...
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May 13, 2026 / Tyler Durden
Chinese Supertanker Sails Out Of Hormuz In Rare Exit
Chinese Supertanker Sails Out Of Hormuz In Rare Exit
As president Trump was on his way to China, a Chinese tanker appears to have exited the Strait of Hormuz as it sails toward an area where the US has enforced a blockade, ahead of talks between US President Donald Trump and counterpart Xi Jinping, Bloomberg reported today, citing ship-tracking data showing the VLCC moving south along the eastern side of the chokepoint.
The supertanker which sailed past Iran’s Larak island, and into the Gulf of Oman, is Yuan Hua Hu, owned by Cosco, and...
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Mar 14, 2026 / Mark Thornton
The Theory of the Bottom 99%
The “bottom 99%” aren’t losing to markets: they’re losing to the Cantillon effect.
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