Ukraine has stepped up attacks on Russian energy facilities in recent months, targeting the country's infrastructurein a war now well into its fifth year. The drone attacks are worsening fuel shortages in Russia, where people have reported rising prices and long queues at the filling stations across most regions. Following is a summary of the attacks —starting with the most recent — and their impact: NORSI NORSI, Russia's fourth-largest oil refinery, owned by Lukoil, suspended [Read more]

Fewer vessels transited the Strait of Hormuz on Friday than earlier this week, hours after a Taiwanese-operated ship was fired on by Iran, ship tracking data showed. The U.N. shipping agency temporarily paused its voluntary scheme to evacuate hundreds of stranded ships and thousands of seafarers from the Gulf after the ship was damaged in the attack close to the Omani side of the waterway. Nevertheless, at least four tankers including three very large crude carriers, which can each carry a [Read more]

While oil and gas are once again flowing through the Strait of Hormuz, the closure of the vital waterway for over 100 days could prove to be a turning point in global energy markets. The Arab oil embargo of 1973, a similarly disruptive supply shock, offers clues about where we might be headed. The latest Middle East crisis tested the limits of the modern energy system, which has evolved over recent decades into a highly interconnected global market held together by thousands of tankers, trading [Read more]

Railway exports of liquefied petroleum gases from the Canadian production hub of Edmonton, Alberta, to refining and trading centers in the United States are unusually high this summer due to strong demand from motor fuel blenders, according to storage broker The Tank Tiger. The out-of-season surge in LPG flows highlights the knock-on effects of the Iran war on energy supply chains around the world, and how some government initiatives to shield consumers from the resulting price shocks have [Read more]

Vessels passing outside routes set by the Persian Gulf Strait Authority, a body set up by Iran to manage the Strait of Hormuz, will not be guaranteed safe passage, the authority said in a post on X on Thursday. "Consequences arising from passage through unauthorised routes shall be the responsibility of the owner, operator, and vessel commander", the PGSA said. The PGSA's warning came after British maritime agency UKMTO said that a cargo ship reported a suspected attack near Oman while [Read more]

The United Nations’ shipping agency on Thursday paused an evacuation effort to get hundreds of stranded ships and thousands of seafarers out through the Strait of Hormuz after a vessel was attacked in the Gulf of Oman. "I have been informed of an attack today in the Gulf of Oman on a vessel which passed through the Strait of Hormuz. This vessel did not transit under IMO’s evacuation framework," Arsenio Dominguez, Secretary-General of the U.N.'s International Maritime Organization (IMO), said [Read more]