First Loaded LNG Tanker Clears Hormuz; First Crude Supertanker Attempts Exit

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...

Iran Poised To Finalize Hormuz Strait Management Plan, Brushing Aside Trump's Threats Iran's state Tasnim is saying the US naval blockade remains in effect, despite days of headlines of a 'finalized' US-Iran deal, which were clearly premature - though both sides still signal they are close to agreeing on a Memorandum of Understanding. But this is toward simply extending the ceasefire by 60-days in order to get back to the table, in hopes of finally ending the war based on a final deal. Despite President Trump's latest warning which declared strict...

Spain-Style Blackout Risk Rises As ERCOT Flags Boston-Sized Data Center Loads Tripping Offline The Electric Reliability Council of Texas (ERCOT) gave the market another concrete reason to stop pretending the grid can absorb unlimited hyperscale load growth on top of an already strained generation mix.  In a May 21st report, ERCOT disclosed that multiple clusters of proposed data centers and crypto facilities failed voltage ride-through testing. When subjected to simulated routine voltage disturbances, such as the kind caused by transmission faults, capacitor switching, or equipment issues, four groups of these large...