India Raises Fuel Prices For The First Time In Four Years

Trump Blasts 'Fake' Reports Of Iran Talks Freeze As Rubio Insists To Congress Tehran Ready To Negotiate Nuclear Curbs Summary: Trump insists reports that Iran & US have not been talking for days is 'fake news'; Rubio also tells Congress talks are ongoing, despite fresh Iranian denials, and even claims the nuclear file is part of it. Washington has seen the Lebanon partial truce as opportunity enough to press forward on broader talks, with Trump saying he expects a broader Iran deal "over the next week". But Fars denies this Tuesday: "exchange of messages...

Hormuz Exodus Begins: Ships Finally Sailing As UN-Led Evacuation Corridor Opens Several vessels have already navigated the Strait of Hormuz utilizing a fresh evacuation framework established by the United Nations' shipping agency, an official confirmed on Wednesday. More via newswires: US Energy Secretary Wright says roughly 72 ships have exited Strait of Hormuz in last 24 hours. "Ships have already begun to pass under the plan," stated a spokesperson for the UN's International Maritime Organization (IMO), though they opted not to disclose specific details regarding the transiting vessels. According to the latest LSEG...

European Gas Storage Can't Survive 3 More Months Of Hormuz Authored by Alex Kimani via OilPrice.com, Europe risks a major gas storage shortfall if disruptions through the Strait of Hormuz continue for another 1–3 months, with inventories still far below normal seasonal levels. LNG supply disruptions, strong Asian demand, and distorted gas pricing have made refilling storage unusually difficult and expensive across the EU. Equinor warns prolonged disruptions could push Dutch TTF gas prices toward €90/MWh, forcing industrial demand destruction and fuel switching across Europe. Europe could face a critical shortfall in natural gas...