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News & Articles By Garrison Vance
05/13/2026
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By Garrison Vance
Worldwide Demand for Coal Spikes Amid Worsening Middle East Energy Crisis
Global coal shipments and imports surged in March and April as buyers scrambled for fuel amid massively disrupted oil and gas supply from the Middle East, according to estimates by analytics platform Kpler cited by the Financial Times and reported by Oilprice.com. The trend has accelerated in recent weeks, analysts said, with global coal imports […]
05/12/2026
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By Garrison Vance
Russian Defense Ministry Reports Nearly 9,000 Ceasefire Violations by Ukraine During Truce
Nearly 9,000 ceasefire violations by Ukrainian forces have been recorded during a declared truce in the special military operation zone, the Russian Defense Ministry said on Saturday. The ministry reported that Ukrainian forces carried out 1,173 attacks using artillery, rocket launch systems, mortars and tanks, as well as 7,151 strikes by unmanned aerial vehicles, according […]
05/10/2026
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By Garrison Vance
Oil Falls Below $100 a Barrel on Renewed Hopes of U.S.-Iran Peace Deal
Brent crude oil fell 4.3% to $96.96 per barrel on May 7, 2026, during volatile trading, as renewed hopes of a U.S.-Iran peace deal emerged, according to market analysts. The benchmark slipped $4.31 from its May 6 close, with intraday fluctuations of up to 4.6%, exchange data showed. Shipping giant Maersk warned that even if […]
05/10/2026
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By Garrison Vance
Oil Trader Nets Estimated $125 Million on Suspiciously Timed Bet Ahead of U.S.-Iran Deal Report
Nearly 10,000 crude oil short contracts, valued at approximately $920 million, were placed at 3:40 a.m. on Wednesday, May 6, without any major news event, according to market commentary platform the Kobeissi Letter. At 4:50 a.m., Axios reported that Washington and Tehran were nearing an agreement to end the conflict and resume negotiations. Oil prices […]
05/09/2026
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By Garrison Vance
U.S. Fuel Exports Hit Record High as Hormuz Crisis Reshapes Global Energy Flows
U.S. oil product exports surged to a record 8.2 million barrels per day last week, according to Bloomberg reporting. Diesel exports led the increase and reached an all-time high, the report stated. The surge comes as countries seek to replace fuel supplies disrupted by the Strait of Hormuz crisis. [1] [2] The record export volumes […]
05/08/2026
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By Garrison Vance
Chinese Fuel Trader Sues Two U.S. Banks Over Blocked Payments Ahead of Sanctions
HY Energy, a Chinese fuel trading company, has filed two separate lawsuits in Shanghai and Beijing against JPMorgan and Citigroup, alleging the banks improperly blocked $40 million in payments intended for China Oil and Petroleum Company (COPC) in 2023. According to court documents, the transfers were initiated months before the U.S. Department of the Treasury […]
05/08/2026
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By Garrison Vance
Germany Requests Israeli Jet Fuel as Hormuz Disruptions Affect European Aviation
Israel will supply jet fuel to Germany after Berlin requested assistance as the Hormuz crisis disrupts aviation fuel flows into Europe, according to Israeli Foreign Minister Gideon Sa’ar. The shipments will be coordinated through domestic refining companies, with export volumes and delivery schedules dependent on how the regional conflict develops and whether shipping and refinery […]
05/06/2026
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By Garrison Vance
China Orders Refiners to Ignore U.S. Sanctions on Key Iranian Oil Buyers
China’s Ministry of Commerce formally invoked its 2021 Blocking Rules for the first time on May 4, ordering all entities in the country to disregard U.S. sanctions on five domestic oil refiners, according to a ministry statement. [1] The directive protects Hengli Petrochemical, Shandong Jincheng Petrochemical, Hebei Xinhai Chemical, Shouguang Luqing Petrochemical and Shandong Shengxing […]
05/06/2026
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By Garrison Vance
Oil Prices Surge Past $114 After Iranian Attacks on UAE Raise Supply Concerns
Global oil prices topped $114 per barrel and settled at a four-year high following Iranian attacks on the United Arab Emirates (UAE), according to market data and news reports. The attacks, reported by multiple sources, revived concerns about further supply disruptions in the region. Market analysts attributed the price jump to fears that the conflict […]
05/05/2026
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By Garrison Vance
Kuwait Exports Zero Barrels of Oil for the First Time Since 1991 Gulf War, Monitor Says
Kuwait exported zero barrels of crude oil in April 2026, the first such halt since the 1991 Gulf War, according to data from shipping monitor Tanker Trackers. The tanker-tracking service reported that while the country continued to produce oil, no crude was shipped overseas during the month. The halt is attributed to the effective closure […]
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