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Tag: Global Energy Markets

Trump Administration Taps Global Oil Reserves And U.S. Production To Steady Markets
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The Daily Signal, Approved, National

Trump Administration Taps Global Oil Reserves And U.S. Production To Steady Markets

By: Anthony Iafrate | The Daily Signal THE DAILY CALLER NEWS FOUNDATION—Secretary of Energy Chris Wright stated during a “Meet The Press” interview Sunday that the U.S. is taking several actions—including increasing oil production in deep blue California—to mitigate rising fuel costs due to the conflict in Iran. After the military strikes of Operation Epic Fury began Feb. 28, Iran sought to block U.S. transport vessels from passing though the Strait of Hormuz, the waterway separating the country from the Gulf States through which an estimated 20% of the world’s oil demand usually flows. The reduction in shipping volume has led to the surge of oil prices in the following weeks. “We have done many, many act...
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America’s Energy Boom Provides Strategic Shield Amid Middle East Turmoil
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Forbes, Approved, Commentary, National

America’s Energy Boom Provides Strategic Shield Amid Middle East Turmoil

By: David Blackmon | Commentary, Forbes As the missiles and drones continue to fly over the Strait of Hormuz amid the ongoing conflict centered in Iran, global oil markets are in turmoil. Crude prices surged past $90 per barrel on March 6, and United States pump prices have jumped about 20 cents a gallon in the past week. But even with that, the United States is weathering this storm better than other global powers thanks to an unrivaled level of national energy security. The Shale Boom and Energy Dominance: Building Blocks Of Energy Security The shale boom, boosted by the energy dominance agendas of both Donald Trump presidencies, has transformed the U.S. into an energy powerhouse, slashing reliance on Persian Gulf oil to near rock-bottom levels. This is goo...
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Insurance Turmoil in the Strait of Hormuz Could Ripple Into U.S. Energy Prices
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National, Rocky Mountain Voice, Top Stories

Insurance Turmoil in the Strait of Hormuz Could Ripple Into U.S. Energy Prices

By Shaina Cole | Contributing Writer, Rocky Mountain Voice The next jump in gasoline prices might not start at an oil well or a refinery. It could start in the insurance market. The change isn’t happening on the water. It’s happening in insurance offices. Marine insurers have started canceling or sharply increasing the cost of war-risk coverage for ships operating in the Persian Gulf as tensions involving Iran grow. It may sound like a technical insurance decision, but for shipping companies it can determine whether a tanker sails or waits. When coverage disappears — or becomes too expensive — ships often wait. And some already are. Shipping reports indicate vessels have slowed or anchored near the Strait of Hormuz while insurers review the risks a...
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