US May Deploy New Hypersonic Missile Against Iran as Trump Considers Restarting the Bombing Campaign

Drone Strike Shuts Down Northern Iraq's Largest Gas Field, Plunging Region Into Darkness A drone attack on the sprawling Khor Mor gasfield in the Kurdish region of northern Iraq has resulted in a large fire, suspending production at the site, while plunging much of semi-autonomous Iraqi Kurdistan into darkness.Huge amounts of smoke and flames have been seen rising from the vicinity of the gasfield in the Sulaimaniyah governorate. Regional reports Sunday night indicated over 70% of the region's power generation has been knocked offline.Khor More is the region's largest natural...

Record Tanker Rates Leave Heavy Crude Stranded In The Americas Authored by Irina Slav via OilPrice.com, Record tanker rates are creating a heavy crude glut in the Americas, pushing Canadian, Colombian, and Ecuadorian crude prices down roughly $10 per barrel. Shipping costs have surged to $40 per barrel, making American heavy crude increasingly uneconomical for Asian and European refiners. The global diesel crunch is set to persist, as tanker shortages prevent heavy crude from reaching markets where demand remains strong. The Middle East crisis has driven tanker rates to all-time highs and...