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How to Price the Risk of the Potential Strait of Hormuz Closure? Oil Rises 10%, Tanker Rates Surge 40%!
TradingKey - While crude oil prices have risen around 10% since Israel's airstrikes on Iran last Friday, market concerns over the risk of a Strait of Hormuz closure are even greater — and tanker markets are pricing in far more extreme scenarios than oil futures.
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Wed, Jun 18
Former Iranian economy minister calls for Iranian control over Strait of Hormuz
DUBAI, June 18 (Reuters) - Former Iranian Economy Minister Ehsan Khandouzi has said that tankers and LNG cargoes should only transit the Strait of Hormuz with Iranian permission and this policy should be carried out "tomorrow for a hundred days". It was not immediately clear whether Khandouz...Reuters
Wed, Jun 18
TABLE-UAE's Fujairah oil inventory data for week ended June 16
June 18 (Reuters) - The Fujairah Oil Industry Zone published the following inventory data for oil products for the week ended June 16, according to industry information service S&P Global Commodity Insights.Volumes are in thousands of barrels. Figures in brackets represent the volume change from...Reuters
Wed, Jun 18
Boeing 787’s emergency-power system likely active before Air India crash, WSJ reports
June 18 (Reuters) - Investigators believe the Air India Boeing BA.N Dreamliner had its emergency-power generator operating when it crashed last week in India's Ahmedabad, the Wall Street Journal reported on Wednesday citing people familiar with the probe.Boeing said it will defer to India...Reuters
Wed, Jun 18
METALS-London copper rises on softer dollar, but Middle East tensions cap gains
By Michele Pek SINGAPORE, June 18 (Reuters) - London copper edged higher on Wednesday, supported by a softer dollar, although heightened tensions in the Middle East dampened global risk appetite and kept a lid on metal prices.Three-month copper on the London Metal Exchange CMCU3 was up 0.46% at $...Reuters
Wed, Jun 18
Energy majors lock onto Southeast Asia in race for more gas for AI power demand
Population growth and the rapid expansion of data centres are driving up electricity needsData centres alone are expected to more than double their power demand globally by 2030By Ashley Tang, Sudarshan Varadhan and Florence Tan KUALA LUMPUR, June 18 (Reuters) - Energy majors are pouring money in...Reuters
Wed, Jun 18
Boeing 787’S Emergency-Power System Likely Active Before Air India Crash - WSJ
June 18 (Reuters) - Boeing Co BA.N:BOEING 787’S EMERGENCY-POWER SYSTEM LIKELY ACTIVE BEFORE AIR INDIA CRASH - WSJBOEING 787’S EMERGENCY-POWER SYSTEM LIKELY ACTIVE BEFORE AIR INDIA CRASH - WSJINVESTIGATORS PROBE IF AIR INDIA 171 ENGINES FAILED DURING TAKEOFF, AS EMERGENCY POWER WAS ACTIVE - WSJSource...Reuters
Wed, Jun 18
Exclusive: Gard leads hull cover for vessel involved in collision near Strait of Hormuz
Gard leads hull cover for Front EagleCollision occurred near Strait of Hormuz, both vessels caught fireElectronic interference reported in Gulf regionBy Michael Jones June 18 - (The Insurer) - Gard is the lead insurer on the hull cover for oil tanker Front Eagle, which caught fire after a collisi...Reuters
Wed, Jun 18
Marine war risk rates increase to 0.7% for Israel following Iran escalation
By Michael Jones June 18 - (The Insurer) - Marine war risk rates for ships transiting Israeli waters have spiked to around 0.7% following the escalation of tensions with Iran on Friday, three senior marine market sources told The Insurer.The sources said that rates in relation to Israel had trebl...Reuters
Wed, Jun 18
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $73.01 per barrel, down from Tuesday’s close at $73.66.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $75.15 after its previous daily close at $75.70.Fxstreet
Wed, Jun 18
COLUMN-Oil tanker market signals more Middle East energy disruption ahead: Bousso
Mideast tanker rates soar by 40% since June 13Rates in other region rise, reflecting Mideast tensionsShip navigation systems in Gulf face heavy interferencesBy Ron Bousso LONDON, June 18 - While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker ...Reuters
Wed, Jun 18
COLUMN-Is battle for LME aluminium stocks noise or signal? Andy Home
By Andy Home LONDON, June 18 (Reuters) - Where's all the aluminium gone? Two years ago there were over 1.3 million metric tons of the light metal sitting in London Metal Exchange (LME) warehouses. Inventory has since almost halved and is now at levels last seen in 2022. As traders fight over ...Reuters
Wed, Jun 18
Tokyo Gas expects no direct impact on LNG buying from Iran-Israel conflict
Monitoring Middle East developments with 'utmost interest'May increase purchase of U.S. LNGInterested in Alaska LNG, but need to assess conditionsBy Yuka Obayashi TOKYO, June 18 (Reuters) - Japan's biggest city-gas supplier, Tokyo Gas 9531.T, sees no direct impact on its liquefied nat...Reuters
Wed, Jun 18
Israel-Iran developments in next 3-5 days critical for global energy markets, Yergin says
By Florence Tan KUALA LUMPUR, June 18 (Reuters) - Developments in the Iran-Israel conflict in the next three to five days will be critical to global energy markets even though oil and gas supplies from the Gulf have not yet been disrupted, oil historian Daniel Yergin said on Wednesday. Iran and I...Reuters
Wed, Jun 18
What you need to know about the Air India Boeing Dreamliner crash
June 18 (Reuters) - The crash of an Air India Boeing BA.N 787 Dreamliner seconds after takeoff from Ahmedabad city, killing all but one of the 242 people on board, is the world's worst aviation disaster in a decade.At least 30 people were also killed on the ground as the airliner crashed into a ...Reuters
Wed, Jun 18
TECHNICALS-CBOT soybeans may test resistance at $10.77
For more technical analyses, please click SINGAPORE, June 18 (Reuters) - The CBOT soybean July contract SN25 may test resistance at $10.77 per bushel, a break above which could led to gain into the $10.81-1/2 to $10.89 range.Despite the fact that the two shooting stars around the resistance are shad...Reuters
Wed, Jun 18
ANALYSIS-China's big feed shift to curb soybean imports, strain small farmers
China aims to cut soymeal in animal feed to 10% by 2030Smaller farmers struggle with costs and methods to curb soymeal useAlternatives like insect protein are still in early development By Ella Cao and Naveen Thukral BEIJING/SINGAPORE, June 18 (Reuters) - China's move to curb the use of soyme...Reuters
Wed, Jun 18
