#gas-shortage

#gas-shortage

Amazon is offering fuel savings for Prime members on Fridays - up to 20 cents per gallon - through May 29, aiming to attract cost-conscious shoppers.

China's stockpiling surged in 2025 due to relatively low oil prices tied to softer demand, rising geopolitical risks, and a new domestic energy law requiring more reserves.

Traders are simultaneously pricing in two contradictory scenarios: continued political de-escalation on one hand, and the possibility of renewed escalation on the other. This fragile balance leaves the market vulnerable to sudden movements, especially given oil prices' high sensitivity to geopolitical developments in the Middle East.

The IEA sees global oil demand falling by 80,000 barrels per day this year, compared with a projected year-on-year rise of 640,000 bpd in its previous monthly report.

There's no doubt that what's happening now is an order of magnitude bigger - in terms of potential fallout for oil markets - than Russia's invasion of Ukraine. The global benchmark Brent crude is trading around $88 Friday morning, up roughly $16 since military strikes against Iran began.

The United States - we produce more oil than we can consume. We're a net oil exporter," Wright said. This comment misses some important context. Some metrics show the U.S. as a net exporter, but for crude oil - the material that's refined into gasoline - the U.S. is a net importer.

QatarEnergy on Monday suspended LNG production following a drone attack, straining the global market. The measure followed Iranian drone attacks on a water tank at a power plant in Mesaieed Industrial City and an energy facility in Ras Laffan belonging to QatarEnergy, the world's largest LNG producer.