Gulf oil
Coverage of Gulf oil in the Nexus archive.
- US military copied Iran's smuggling tactics to move Gulf oil, report reveals
The US military has coordinated the transfer of 90 million barrels of Gulf oil since May using ship-to-ship operations, mirroring Iran's sanctions-evasion tactics. The operation involves tankers disabling transponders and dimming lights to avoid detection while transferring oil near a strait controlled by Iran, with at least 92 ships participating.
- Get used to higher gas prices this year
Higher gas prices are expected to persist this year due to ongoing tensions in the Strait of Hormuz and Iran conflict, with Energy Secretary Chris Wright predicting a return to pre-war levels (under $3/gallon) may not occur until 2027. Analysts from S&P Global and GasBuddy caution that logistical delays and inventory costs will slow price drops, even if the Strait reopens fully.
- Hot in the city: Energy crisis tests Singapore's air-con addiction
The energy crisis is impacting Singapore and other Asian nations reliant on Gulf oil, with rising energy prices straining their economies. Singapore's heavy dependence on air conditioning exacerbates the situation as energy costs soar.