#oil-refinery-shutdown

#oil-refinery-shutdown

"We just have not kept up with water supply and water infrastructure like we should have. And it's decades in the making," said Peter Zanoni, the city manager since 2019.

After six weeks stranded in the Gulf, one of the 20,000 seafarers trapped by Iran's chokehold on the strait of Hormuz is reaching their limit. We're at anchor, near dozens of loaded tankers. No one has moved an inch.

The world's top 100 oil and gas companies banked more than $30m every hour in unearned profit in the first month of the US-Israeli war in Iran, with Saudi Aramco, Gazprom, and ExxonMobil among the biggest beneficiaries.

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.

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.

Brent crude, the international benchmark, rose more than 8 percent on Sunday to top $103 a barrel, marking the first time it exceeded the $100 threshold since Tuesday.

As oil flows come under threat due to the Iran war, parts of Asia are already under strain. Fuel supplies are tightening, prices are rising, and some countries warn stocks may run out.

We have slow growth and inflation that is still a concern from the numbers we got on the economy. The interesting thing about the University of Michigan survey is half of it was taken before the war and then the other half was taken after February 28th and obviously the signs were very different. Half the respondents said that things are really starting to pick up and look good and then all of the survey participants taken after February 28th had started to notice a lot more anxiety and deterioration particularly around their ideas of inflation.