Israel’s Yellow Line Claims Valuable Off-Shore Lebanese Gas Field

Kuwait Declares Force Majeure As US Seizure Of Iranian Ship Escalates Tensions By Charles Kennedy of OilPrice.com Kuwait has declared force majeure on shipments of crude oil and refined products after disruptions at the Strait of Hormuz prevented some vessels from entering the Persian Gulf. The move comes as tensions in the Strait escalated again following the U.S. seizure of an Iranian-flagged cargo vessel in the waterway. According to Reuters, Kuwait Petroleum Corporation has notified customers that it is invoking contractual clauses allowing it to withhold certain scheduled deliveries after the blockade hindered...

First Of Many? UAE Exits OPEC As Iran Chaos Triggers Nationalistic Realignment Among Producers OPEC member and major Gulf producer, the UAE, has decided to exit the oil cartel, an unexpected development that crossed Bloomberg headlines on Tuesday morning around 0822 ET. OPEC finished https://t.co/RtxJdZQeQh — zerohedge (@zerohedge) April 28, 2026 WAM said the decision reflects the "evolution of sector policies to enhance flexibility in responding to market dynamics, while continuing to contribute to market stability in a thoughtful and responsible manner." OPEC was founded in Baghdad in September 1960 by Iran, Iraq, Kuwait,...

Savings Rate Slides As Fed's Favorite Inflation Gauge Slowed In February (Ahead Of War) The Fed's favorite inflation indicator - Core PCE (a measure of price changes in consumer goods and services that excludes volatile food and energy costs) - rose 0.4% MoM in February (pre-war), in line with expectations, with YoY rising 3.0% (as expected - lowest since Dec), down from January's +3.1%... Source: Bloomberg The YoY Core decline is coming off January's highest level since March 2024, with Services cost inflation slowing notably... The headline PCE also rose 0.4% MoM (as...