https://peakoil.com Exploring Hydrocarbon Depletion Thu, 06 Aug 2026 06:10:00 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 https://peakoil.com/production/hormuz-crisis-is-rewriting-the-global-lpg-trade https://peakoil.com/production/hormuz-crisis-is-rewriting-the-global-lpg-trade#respond Thu, 06 Aug 2026 06:10:00 +0000 https://peakoil.com/generalideas/hormuz-crisis-is-rewriting-the-global-lpg-trade The Strait of Hormuz, the Middle East’s main choke point, is effectively closed as Iranian attacks on vessels continue, and the ripple effect is tearing through global supply chains. While crude oil and natural gas disruptions have grabbed headlines, liquefied petroleum gas (LPG) also finds itself at the center of the crisis. The United States […]]]> https://peakoil.com/production/hormuz-crisis-is-rewriting-the-global-lpg-trade/feed 0 https://peakoil.com/publicpolicy/iran-war-boosted-russian-fertiliser-revenues-by-over-5m-a-day https://peakoil.com/publicpolicy/iran-war-boosted-russian-fertiliser-revenues-by-over-5m-a-day#respond Thu, 06 Aug 2026 04:10:24 +0000 https://peakoil.com/generalideas/iran-war-boosted-russian-fertiliser-revenues-by-over-5m-a-day Russian companies made an estimated £500m windfall from one type of fertiliser alone this spring as the closure of the Strait of Hormuz sent global prices soaring, an Unearthed analysis has found. Russia is the world’s leading nitrogen fertiliser exporter. Its companies earned over £5m a day in extra revenues from urea, the most widely […]]]> https://peakoil.com/publicpolicy/iran-war-boosted-russian-fertiliser-revenues-by-over-5m-a-day/feed 0 https://peakoil.com/publicpolicy/yemens-houthis-claim-attacks-on-two-saudi-oil-tankers-as-maritime-blockade-tightens https://peakoil.com/publicpolicy/yemens-houthis-claim-attacks-on-two-saudi-oil-tankers-as-maritime-blockade-tightens#respond Thu, 06 Aug 2026 02:09:37 +0000 https://peakoil.com/publicpolicy/yemens-houthis-claim-attacks-on-two-saudi-oil-tankers-as-maritime-blockade-tightens Yemen’s Iran-backed Houthis said on Wednesday that they attacked two Saudi oil tankers, as the rebels pressed on with their maritime blockade of the kingdom. These were the eighth and ninth Saudi oil tankers targeted since the start of the blockade last month, according to figures given by a Houthi military spokesman. Saudi authorities had […]]]> https://peakoil.com/publicpolicy/yemens-houthis-claim-attacks-on-two-saudi-oil-tankers-as-maritime-blockade-tightens/feed 0 https://peakoil.com/generalideas/remembering-richard-heinberg-he-was-one-of-the-clearest-and-steadiest-voices-addressing-fossil-fuel-dependence https://peakoil.com/generalideas/remembering-richard-heinberg-he-was-one-of-the-clearest-and-steadiest-voices-addressing-fossil-fuel-dependence#respond Thu, 06 Aug 2026 00:10:41 +0000 https://peakoil.com/generalideas/remembering-richard-heinberg-he-was-one-of-the-clearest-and-steadiest-voices-addressing-fossil-fuel-dependence We were deeply saddened to learn of the death of Richard Heinberg last week. Over the course of his life, Richard became one of the clearest and steadiest voices addressing fossil-fuel dependence, ecological limits, and the cultural changes required to build a more resilient world. In remembrance, we are returning to a lecture Richard delivered […]]]> https://peakoil.com/generalideas/remembering-richard-heinberg-he-was-one-of-the-clearest-and-steadiest-voices-addressing-fossil-fuel-dependence/feed 0 https://peakoil.com/publicpolicy/dozens-of-idling-iranian-oil-tankers-show-us-blockade-is-working https://peakoil.com/publicpolicy/dozens-of-idling-iranian-oil-tankers-show-us-blockade-is-working#respond Wed, 05 Aug 2026 22:09:31 +0000 https://peakoil.com/generalideas/dozens-of-idling-iranian-oil-tankers-show-us-blockade-is-working Aug 5, 2026 (Bloomberg) – A growing flotilla of Iranian oil tankers is gathering off the country’s coast, a sign the renewed US naval blockade is disrupting Tehran’s energy exports and depriving it of much-needed revenue. Some 50 laden vessels — mostly carrying crude, but also fuels and liquefied petroleum gas — were idling along […]]]> https://peakoil.com/publicpolicy/dozens-of-idling-iranian-oil-tankers-show-us-blockade-is-working/feed 0 https://peakoil.com/publicpolicy/iran-state-bank-freezes-national-oil-company-accounts-over-debt https://peakoil.com/publicpolicy/iran-state-bank-freezes-national-oil-company-accounts-over-debt#respond Wed, 05 Aug 2026 20:13:07 +0000 https://peakoil.com/generalideas/iran-state-bank-freezes-national-oil-company-accounts-over-debt An Iranian state-owned bank has frozen accounts belonging to the National Iranian Oil Company over outstanding debt obligations, the IRGC-affiliated Fars news agency reported on Wednesday. The action by Bank of Industry and Mine (BIM) comes despite domestic statutory provisions extending NIOC’s debt repayment deadlines through the end of the current Iranian fiscal year in […]]]> https://peakoil.com/publicpolicy/iran-state-bank-freezes-national-oil-company-accounts-over-debt/feed 0 https://peakoil.com/publicpolicy/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet-2 https://peakoil.com/publicpolicy/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet-2#comments Wed, 05 Aug 2026 20:12:36 +0000 https://peakoil.com/generalideas/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet-2 When the U.S. and Israel struck Iran on Feb. 28 and the Strait of Hormuz effectively closed, most analysts expected Beijing to be among the biggest losers. China imports roughly two-thirds of its crude. Instead, China shrugged — and in the process rewrote the rules. The numbers are staggering. In June, Chinese crude imports plunged […]]]> https://peakoil.com/publicpolicy/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet-2/feed 1 https://peakoil.com/publicpolicy/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet https://peakoil.com/publicpolicy/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet#comments Wed, 05 Aug 2026 18:06:57 +0000 https://peakoil.com/generalideas/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet When the U.S. and Israel struck Iran on Feb. 28 and the Strait of Hormuz effectively closed, most analysts expected Beijing to be among the biggest losers. China imports roughly two-thirds of its crude. Instead, China shrugged — and in the process rewrote the rules. The numbers are staggering. In June, Chinese crude imports plunged […]]]> https://peakoil.com/publicpolicy/opinion-what-chinas-oil-fortress-means-for-canadas-west-coast-bet/feed 1 https://peakoil.com/publicpolicy/white-house-weighs-extending-historic-jones-act-waiver-to-lower-gas-prices https://peakoil.com/publicpolicy/white-house-weighs-extending-historic-jones-act-waiver-to-lower-gas-prices#comments Wed, 05 Aug 2026 16:10:51 +0000 https://peakoil.com/generalideas/white-house-weighs-extending-historic-jones-act-waiver-to-lower-gas-prices The Trump Administration is likely to extend a waiver of a century-old shipping law in an effort to keep energy prices down, officials said. After Iran militarized the Strait of Hormuz in retaliation for the U.S. and Israel launching the war on Feb. 28, disrupting global energy supplies and sending oil prices skyrocketing, the Trump […]]]> https://peakoil.com/publicpolicy/white-house-weighs-extending-historic-jones-act-waiver-to-lower-gas-prices/feed 1 https://peakoil.com/enviroment/heat-the-new-supply-shock https://peakoil.com/enviroment/heat-the-new-supply-shock#comments Wed, 05 Aug 2026 14:09:26 +0000 https://peakoil.com/enviroment/heat-the-new-supply-shock –]]> https://peakoil.com/enviroment/heat-the-new-supply-shock/feed 1 https://peakoil.com/business/eir-still-sees-oil-at-100-in-h2-2027 https://peakoil.com/business/eir-still-sees-oil-at-100-in-h2-2027#respond Wed, 05 Aug 2026 12:08:53 +0000 https://peakoil.com/generalideas/eir-still-sees-oil-at-100-in-h2-2027 In a statement sent to Rigzone on Tuesday, Enverus Intelligence Research (EIR), a subsidiary of Enverus, revealed that it is maintaining its Brent oil price forecast at $100 per barrel across the second half of 2026 and 2027. EIR finds that global oil markets remain structurally tight despite recent price volatility,” the company said in […]]]> https://peakoil.com/business/eir-still-sees-oil-at-100-in-h2-2027/feed 0 https://peakoil.com/publicpolicy/saudis-hold-talks-with-houthis https://peakoil.com/publicpolicy/saudis-hold-talks-with-houthis#respond Wed, 05 Aug 2026 10:10:01 +0000 https://peakoil.com/generalideas/saudis-hold-talks-with-houthis Saudi Arabia wants to contain a renewed conflict with Houthi militants through behind-the-scenes diplomacy, according to people familiar with the matter, in a bid to prevent clashes with the Iran-backed group hurting its oil industry and economy. The kingdom has held talks with the Yemen-based Houthis via Omani mediators and is still preparing military options […]]]> https://peakoil.com/publicpolicy/saudis-hold-talks-with-houthis/feed 0 https://peakoil.com/generalideas/editorial-dominance-requires-stability https://peakoil.com/generalideas/editorial-dominance-requires-stability#respond Wed, 05 Aug 2026 08:10:08 +0000 https://peakoil.com/generalideas/editorial-dominance-requires-stability Domestic oil and natural gas production is a strategic national asset. Abundant, affordable energy boosts economic growth, reinforces national security, and gives the US geopolitical leverage. The expansion of US LNG exports has transformed natural gas from a commercial commodity to an instrument of foreign policy. But Washington’s actual influence over the production of either […]]]> https://peakoil.com/generalideas/editorial-dominance-requires-stability/feed 0 https://peakoil.com/publicpolicy/strait-of-hormuz-disruption-hits-energy-fertilizer-and-industrial-trade https://peakoil.com/publicpolicy/strait-of-hormuz-disruption-hits-energy-fertilizer-and-industrial-trade#respond Wed, 05 Aug 2026 06:10:52 +0000 https://peakoil.com/publicpolicy/strait-of-hormuz-disruption-hits-energy-fertilizer-and-industrial-trade ]]> https://peakoil.com/publicpolicy/strait-of-hormuz-disruption-hits-energy-fertilizer-and-industrial-trade/feed 0 https://peakoil.com/production/aramco-sidesteps-hormuz-as-iran-crisis-cuts-flows-to-a-tenth https://peakoil.com/production/aramco-sidesteps-hormuz-as-iran-crisis-cuts-flows-to-a-tenth#respond Wed, 05 Aug 2026 04:11:05 +0000 https://peakoil.com/generalideas/aramco-sidesteps-hormuz-as-iran-crisis-cuts-flows-to-a-tenth Saudi Aramco is routing crude around the Strait of Hormuz via its East-West pipeline as the Iran-related crisis has cut shipping through the strait to a tenth of pre-conflict levels, Chief Executive Amin Nasser said on Tuesday. “The ongoing geopolitical crisis continues to aggravate the biggest supply shock in history,” Nasser said, as the Saudi […]]]> https://peakoil.com/production/aramco-sidesteps-hormuz-as-iran-crisis-cuts-flows-to-a-tenth/feed 0 https://peakoil.com/production/this-is-unprecedented-goldman-sachs-sees-3-simultaneous-crises-pushing-oil-as-high-as-120-a-barrel https://peakoil.com/production/this-is-unprecedented-goldman-sachs-sees-3-simultaneous-crises-pushing-oil-as-high-as-120-a-barrel#comments Wed, 05 Aug 2026 02:09:49 +0000 https://peakoil.com/generalideas/this-is-unprecedented-goldman-sachs-sees-3-simultaneous-crises-pushing-oil-as-high-as-120-a-barrel Goldman Sachs analyst Samantha Dart warns three simultaneous chokepoint crises could push Brent crude to $120 a barrel by Q4 2026. Persian Gulf exports reversed from 80% back to 40% of normal flows, with depleted global inventories leaving no storage buffer for recovery. Dart flags diesel and heating oil as winter’s biggest upside risk, where […]]]> https://peakoil.com/production/this-is-unprecedented-goldman-sachs-sees-3-simultaneous-crises-pushing-oil-as-high-as-120-a-barrel/feed 1 https://peakoil.com/production/aramco-says-its-oil-refineries-are-running-flat-out https://peakoil.com/production/aramco-says-its-oil-refineries-are-running-flat-out#comments Wed, 05 Aug 2026 00:09:30 +0000 https://peakoil.com/generalideas/aramco-says-its-oil-refineries-are-running-flat-out Refineries outside of conflict zones are running at full tilt across the world and there are few shock absorbers left in the system to protect against higher fuel prices, the world’s biggest oil company Saudi Aramco said. A combination of war in the Middle East and Ukrainian strikes on Russian energy facilities has sent fuel […]]]> https://peakoil.com/production/aramco-says-its-oil-refineries-are-running-flat-out/feed 2 https://peakoil.com/production/venezuelas-oil-exports-fall-even-as-u-s-shipments-hit-seven-year-high https://peakoil.com/production/venezuelas-oil-exports-fall-even-as-u-s-shipments-hit-seven-year-high#comments Tue, 04 Aug 2026 22:07:10 +0000 https://peakoil.com/generalideas/venezuelas-oil-exports-fall-even-as-u-s-shipments-hit-seven-year-high Venezuela exported 1.16 million barrels of crude oil daily last month, a slight decline from June’s 1.2 million barrels daily, on lower withdrawals from storage, Reuters has reported, noting that exports to the United States during that month increased. July exports to Venezuela’s biggest oil destination averaged 786,000 barrels daily, which was the highest since […]]]> https://peakoil.com/production/venezuelas-oil-exports-fall-even-as-u-s-shipments-hit-seven-year-high/feed 3 https://peakoil.com/production/tight-global-inventories-outweigh-opec-production-increase-analyst-says https://peakoil.com/production/tight-global-inventories-outweigh-opec-production-increase-analyst-says#respond Tue, 04 Aug 2026 20:07:51 +0000 https://peakoil.com/generalideas/tight-global-inventories-outweigh-opec-production-increase-analyst-says Tightening global oil inventories and continued geopolitical instability are expected to keep crude prices supported through August, even as OPEC+ moves to restore additional production, according to Tamas Varga, analyst at PVM Oil Associates, part of TP ICAP. Varga said the oil market remains dominated by geopolitical risks stemming from conflicts in the Middle East […]]]> https://peakoil.com/production/tight-global-inventories-outweigh-opec-production-increase-analyst-says/feed 0 https://peakoil.com/publicpolicy/russia-secretly-assembles-shadow-fleet-of-gas-tankers-as-europe-prepares-complete-ban https://peakoil.com/publicpolicy/russia-secretly-assembles-shadow-fleet-of-gas-tankers-as-europe-prepares-complete-ban#respond Tue, 04 Aug 2026 18:07:31 +0000 https://peakoil.com/generalideas/russia-secretly-assembles-shadow-fleet-of-gas-tankers-as-europe-prepares-complete-ban Russia is quietly expanding its shadow fleet of liquefied natural gas carriers to bypass impending European Union restrictions set to take effect in 2027. Over the past 6 months, at least 8 secondhand LNG tankers were sold and redirected to carry Russian shipments, bringing Moscow’s specialized gas fleet to a total of 25 vessels, including […]]]> https://peakoil.com/publicpolicy/russia-secretly-assembles-shadow-fleet-of-gas-tankers-as-europe-prepares-complete-ban/feed 0 https://peakoil.com/publicpolicy/are-us-iran-peace-talks-stalling-as-hormuz-tensions-escalate https://peakoil.com/publicpolicy/are-us-iran-peace-talks-stalling-as-hormuz-tensions-escalate#respond Tue, 04 Aug 2026 16:09:34 +0000 https://peakoil.com/generalideas/are-us-iran-peace-talks-stalling-as-hormuz-tensions-escalate Fresh uncertainty has emerged over prospects for diplomacy between the United States and Iran after conflicting claims over negotiations coincided with a maritime attack near the Strait of Hormuz. The incident pushed oil prices higher and reinforced concerns that the conflict remains far from resolution despite recent signals of possible talks. Conflicting Narratives on Diplomacy […]]]> https://peakoil.com/publicpolicy/are-us-iran-peace-talks-stalling-as-hormuz-tensions-escalate/feed 0 https://peakoil.com/consumption/usa-gas-prices-could-hit-record-this-week https://peakoil.com/consumption/usa-gas-prices-could-hit-record-this-week#respond Tue, 04 Aug 2026 14:10:23 +0000 https://peakoil.com/generalideas/usa-gas-prices-could-hit-record-this-week U.S. gasoline prices could hit a calendar record this week, even with the oil price pulling back, GasBuddy noted in a blog posted on its website on Monday. Average gasoline prices were a mixed bag across the country last week as oil markets went on a wild ride, surging on geopolitical tensions before pulling back […]]]> https://peakoil.com/consumption/usa-gas-prices-could-hit-record-this-week/feed 0 https://peakoil.com/business/bp-profit-more-than-doubles-as-trump-blasts-big-oil-for-making-too-much-money https://peakoil.com/business/bp-profit-more-than-doubles-as-trump-blasts-big-oil-for-making-too-much-money#respond Tue, 04 Aug 2026 12:07:42 +0000 https://peakoil.com/generalideas/bp-profit-more-than-doubles-as-trump-blasts-big-oil-for-making-too-much-money Britain’s BP on Tuesday reported a sharp upswing in second-quarter profit, as energy supermajors reap massive profits from higher fossil fuel prices amid hostilities between the U.S. and Iran. The oil giant posted underlying replacement cost profit, used as a proxy for net profit, of $5.7 billion for the April to June period. That comfortably […]]]> https://peakoil.com/business/bp-profit-more-than-doubles-as-trump-blasts-big-oil-for-making-too-much-money/feed 0 https://peakoil.com/publicpolicy/ceo-plays-down-impact-of-attacks-on-aramco https://peakoil.com/publicpolicy/ceo-plays-down-impact-of-attacks-on-aramco#comments Tue, 04 Aug 2026 10:13:42 +0000 https://peakoil.com/generalideas/ceo-plays-down-impact-of-attacks-on-aramco Saudi Aramco said attacks on its assets last month have had no material impact on its operations, and the company is working to expand its oil export capacity as the Strait of Hormuz remains disrupted by the Iran war. Chief Executive Officer Amin Nasser made the comments on a call, after the Saudi energy giant […]]]> https://peakoil.com/publicpolicy/ceo-plays-down-impact-of-attacks-on-aramco/feed 1 https://peakoil.com/publicpolicy/italian-led-eu-force-boards-russian-shadow-fleet-tanker-in-mediterranean https://peakoil.com/publicpolicy/italian-led-eu-force-boards-russian-shadow-fleet-tanker-in-mediterranean#respond Tue, 04 Aug 2026 08:09:14 +0000 https://peakoil.com/generalideas/italian-led-eu-force-boards-russian-shadow-fleet-tanker-in-mediterranean ROME — An EU naval mission led by Italy boarded a tanker from Russia’s so-called “shadow fleet” on Aug 2, the second such operation in less than two weeks as Europe intensifies scrutiny of vessels suspected of helping Moscow circumvent oil sanctions. Italy’s Defence Ministry said the Toa Payoh, a tanker subject to EU sanctions, […]]]> https://peakoil.com/publicpolicy/italian-led-eu-force-boards-russian-shadow-fleet-tanker-in-mediterranean/feed 0 https://peakoil.com/generalideas/building-ai-into-the-energy-future https://peakoil.com/generalideas/building-ai-into-the-energy-future#respond Tue, 04 Aug 2026 06:08:59 +0000 https://peakoil.com/generalideas/building-ai-into-the-energy-future The appeal of artificial intelligence (AI) to the Global South lies in its potential to narrow persistent structural gaps that constrain human and economic development. Across these geographies, large sections of the population grapple with the interconnected challenges of lack of clean water, food insecurity, limited access to affordable and quality healthcare, financial exclusion, and […]]]> https://peakoil.com/generalideas/building-ai-into-the-energy-future/feed 0 https://peakoil.com/publicpolicy/oil-prices-drop-to-three-week-low-after-trump-cancels-iran-attack https://peakoil.com/publicpolicy/oil-prices-drop-to-three-week-low-after-trump-cancels-iran-attack#comments Tue, 04 Aug 2026 04:09:19 +0000 https://peakoil.com/generalideas/oil-prices-drop-to-three-week-low-after-trump-cancels-iran-attack New York — Oil prices fell about 5% to a three-week low on Monday after U.S. President Donald Trump held off on a fresh attack on Iran in the hope of sealing a quick deal that could boost oil supplies from the Gulf. Brent futures fell $4.41, or 5.0%, to $83.52 a barrel at 10:39 […]]]> https://peakoil.com/publicpolicy/oil-prices-drop-to-three-week-low-after-trump-cancels-iran-attack/feed 1 https://peakoil.com/production/big-oil-warns-global-fuel-stocks-are-running-dangerously-low https://peakoil.com/production/big-oil-warns-global-fuel-stocks-are-running-dangerously-low#respond Tue, 04 Aug 2026 02:06:32 +0000 https://peakoil.com/generalideas/big-oil-warns-global-fuel-stocks-are-running-dangerously-low The world is running short on fuels—the warning was first issued by some analysts who were watching the physical market rather than futures charts. Now, Big Oil is joining the chorus of warnings, with Shell, Exxon and Chevron all saying that prices at the pump are set to stay higher, regardless of where crude oil […]]]> https://peakoil.com/production/big-oil-warns-global-fuel-stocks-are-running-dangerously-low/feed 0 https://peakoil.com/publicpolicy/russia-is-running-out-of-soldiers-oil-and-time https://peakoil.com/publicpolicy/russia-is-running-out-of-soldiers-oil-and-time#respond Tue, 04 Aug 2026 00:08:15 +0000 https://peakoil.com/generalideas/russia-is-running-out-of-soldiers-oil-and-time Russia’s war effort is under growing pressure, with mounting military losses, relentless Ukrainian drone strikes on refineries, and attacks damaging nearly 43% of Russia’s refining capacity. The U.S. and EU are preparing tougher sanctions, targeting Russia’s oil exports, shadow fleet, and major buyers such as China and India, with tariffs and stricter enforcement aimed at […]]]> https://peakoil.com/publicpolicy/russia-is-running-out-of-soldiers-oil-and-time/feed 0 https://peakoil.com/business/q3-is-set-for-extreme-volatility-oil-analysts-warn https://peakoil.com/business/q3-is-set-for-extreme-volatility-oil-analysts-warn#respond Mon, 03 Aug 2026 22:08:52 +0000 https://peakoil.com/generalideas/q3-is-set-for-extreme-volatility-oil-analysts-warn In an oil report sent to Rigzone by the Fitch Group on Friday, analysts at BMI, a unit of Fitch Solutions, warned that the third quarter is set for “extreme volatility”. “July 2026, which was characterized by wild fluctuations in the market for Dated Brent, with prices ranging from $68.1-$105.6 per barrel at the daily […]]]> https://peakoil.com/business/q3-is-set-for-extreme-volatility-oil-analysts-warn/feed 0