Rapidan Energy Group
Coverage of Rapidan Energy Group in the Nexus archive.
- Rising tempo of combat in battle for Hormuz threatens market’s confidence that the worst is over on Iran. ‘There’s a lot of complacency’
Rising combat in the Strait of Hormuz has heightened market uncertainty, with U.S. stock futures declining and oil prices rising moderately. The U.S. and Iran have exchanged strikes and counterstrikes, while traders remain cautiously confident about a recovery in Gulf oil shipments.
- Oil tankers go dark to sneak more barrels through Hormuz
Oil tankers are reducing visibility to transport more oil through Hormuz. Approximately 2 million barrels of oil and related products are currently exiting the Gulf, a level lower than normal but higher than earlier in the conflict, according to Rapidan Energy Group.
- What a gas tax holiday would actually do
The federal gas tax suspension is being considered to help consumers with rising gasoline prices, which have reached a US average of $4.46 per gallon. Suspending the 18.3 cent-per-gallon gas tax and 24.3 cent diesel tax would bring some relief to consumers. However, it wouldn't offset the nearly $1.50-per-gallon gas price jump since the war started.