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News & Articles By Garrison Vance
05/22/2026
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By Garrison Vance
China Raises Fuel Price Caps Again as Iran War Keeps Oil Markets on Edge
China will raise the maximum retail price of gasoline by $11.03 (75 yuan) per metric ton and diesel by $10.29 (70 yuan) per ton, effective May 22, according to a notice from the state planner. The adjustment is the latest in a series of increases since the Iran war began disrupting global oil markets. The […]
05/14/2026
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By Garrison Vance
Russia’s Oil Revenues Rise $6.3 Billion as High Prices Offset Production Declines
Russia’s oil export revenues reached $19.18 billion in April, a $6.28 billion increase from the same month a year earlier, according to the International Energy Agency’s monthly market report for May. The rise occurred despite a decline in total output of 460,000 barrels per day (bpd) to 8.8 million bpd, and a 90,000 bpd drop […]
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 […]
05/11/2026
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By Garrison Vance
Pezeshkian: Iran Ready to Prove Peaceful Nature of Nuclear Program, Offers Assurance to Neighbors
Iranian President Masoud Pezeshkian told Iraqi Prime Minister-designate Ali al-Zaidi during a telephone call Tuesday, May 5, that Tehran is prepared to meet global standards to demonstrate the peaceful nature of its nuclear program, according to a statement from Iran’s presidency published by the Turkish Anadolu Agency. Pezeshkian criticized what he called contradictory U.S. policies, saying […]
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
Rosatom Reports Ukrainian Strikes Near Zaporizhzhia Nuclear Power Plant
Strikes Reported for Third Consecutive Day Russian state nuclear corporation Rosatom reported a third consecutive day of Ukrainian strikes near the Zaporizhzhia Nuclear Power Plant. The strikes targeted urban infrastructure in Energodar, including a gas distribution station and residential buildings, Likhachev said in a statement. [1] also reported a dramatic increase in drone strikes on […]
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
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 […]
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