The number of commercial transit voyages through Russia’s Northern Sea Route (NSR) had already surpassed the full-year 2025 total by the end of September, putting Arctic shipping on course for another record season as cargo volumes rise and more vessels test the route between Asia and Europe.

Accelerating crude exports through the Strait of Hormuz aren’t translating into higher production of a dirty shipping fuel, according to a top Vitol Group executive, tightening supplies and sending prices soaring.

Shipowners are facing an increasingly fragmented fuel market as disruptions triggered by the Middle East conflict raise concerns about the availability and quality of supply.

Saudi Arabia is looking at ways to expand its oil pipeline capacity to destinations outside the Persian Gulf to 10 million barrels a day within two to three years, said Energy Minister Prince Abdulaziz bin Salman.

For a sign of just how extraordinary oil shipping costs have become, consider this: It’s now more expensive to hire a tanker from the US to China than to launch a rocket into space.

A 22-year-old product tanker sanctioned by the European Union is making an unusual late-season voyage along Russia's Northern Sea Route, highlighting the growing use of older, lower-specification vessels to move petroleum products through the Arctic.

Trafigura Group bought seven oil tankers from New York-listed SFL Corp., in the latest example of how trading houses and state energy companies are acquiring vessels to ship crude and products.

The US blockade of Iran is keeping dozens of laden tankers bottled up along the nation’s coast, while others outside the Persian Gulf are holding off Sri Lanka, according to United Against Nuclear Iran.

Kuwait is pumping oil at about 75% of the level seen before the Iran war as more tankers take the risk of navigating the Strait of Hormuz.

Gulf oil exporters topped pre-war levels for about half of September, shipping data showed on Monday, though attacks on tankers and logistical constraints cloud the outlook for sustained higher flows.

The number of shadow-fleet vessels carrying Russian oil and LNG through the Northern Sea Route has surged this summer, according to a new analysis by the Bellona Environmental Transparency Center, raising concerns about the ability to respond to accidents in one of the world's most remote shipping environments.

By Florence Tan SINGAPORE, Oct 5 (Reuters) – Crude oil exports from the Middle East rose above pre-war levels in four of the seven days of the final week of September, shipping data showed...

Persian Gulf oil producers are shifting critical cargo transfer operations even farther out of the war-hit region as waters just outside the Strait of Hormuz become congested with tankers.

Crude oil flows from the Middle East are returning toward pre-war levels despite continued risks to shipping, according to separate estimates from JPMorgan Chase & Co. and Goldman Sachs Group Inc.

For most of shipping history, the valuation equation has been straightforward. A ship leaves the yard, begins ageing and progressively loses value. New steel commands the premium. Older steel trades at a discount.

NEW YORK: Oil prices climbed in early trading Wednesday, building on the previous session’s sharp gains, as overnight military exchanges between the United States and Iran escalated tensions in the Middle East and revived fears of supply disruptions through a critical global shipping chokepoint. Brent crude futures rose $1.03, or 1.1%, to $95.68 a barrel ... Read more

The post Oil prices surge as US-Iran strikes heighten supply fears appeared first on BOL News.

ISLAMABAD: Pakistan is set to sign long-delayed agreements with five oil refineries, unlocking more than $6 billion in planned upgrades to modernize aging plants and cut reliance on fuel imports, officials said. But industry warnings that changes to the financial framework could derail the projects overshadowed the announcement. The agreements with Pak-Arab Refinery Ltd., Pakistan ... Read more

The post Pakistan to sign long-delayed refinery deals unlocking more than $6 billion in planned upgrades appeared first on BOL News.