Both Iraq and Pakistan have cut deals with Iran to ship oil and liquefied natural gas from the Gulf, according to five sources with knowledge of the matter, in a demonstration of Tehran's ability to control energy flows through the Strait of Hormuz. The U.S.-Israeli war with Iran has slashed energy exports from a region that normally supplies 20% of the world's crude oil and LNG. The U.S. has blockaded Iranian ports in recent weeks. And though Iran initially sought to halt traffic through the [Read more]

China could receive in June its first direct U.S. liquefied natural gas shipment in more than a year in a potential sign of thawing energy ties as U.S. President Donald Trump this week heads to Beijing for a summit with Chinese President Xi Jinping. Three vessels left U.S. LNG export plants in Louisiana last week and are expected to reach China in mid- to late June, according to data from financial firm LSEG. While other LNG tankers have left U.S. ports and said they were headed to China over [Read more]

The Strait of Hormuz has emerged as the central battleground of the Iran conflict. The passage of a handful of oil and gas tankers in recent days, apparently with Tehran’s consent, hints at tacit acceptance of its control. This foreshadows a more dangerous phase in what is fast turning into a Hormuz war. Tehran’s near-complete closure of the vital trade artery since the joint Israeli-U.S. airstrikes on February 28 and the reciprocal U.S. naval blockade imposed last month have sent shockwaves [Read more]

Major Asian liquefied natural gas (LNG) importers Japan and South Korea ramped up coal-fired power generation in April and into early May, market data showed, as the Iran war disrupted supplies of the super-chilled fuel and boosted prices. Japan's gas-fired power supply hit two-year lows in April and South Korea's dropped to six-month lows, according to data from the Japanese Electricity Market Data Hub and Korea Power Exchange (KPX). The switch underscores how the conflict is reshaping power [Read more]