Giovanni Staunovo
@staunovo · Energy, economy & shipping
Giovanni Staunovo is a commodity analyst specializing in oil markets.
Oil-product exports through the Strait of Hormuz are slowly recovering, but the pace hasn’t been enough to prevent a surge in fuel prices that is squeezing consumers around the world. The region is currently shipping at least 1 million barrels a day of oil products through the contested waterway, according to Vitol Group Chief Executive Officer Russell Hardy and a number of other traders at a conference in Singapore this week. Data from tanker-tracking agency Vortexa show similar levels, compared with about 4 million barrels a day of prewar shipments, excluding liquefied petroleum gas. #oott https://t.co/ZIpOU7PBx3
Saudi Arabia told OPEC: supply to the market was 7.122mbpd in August vs 7.417mbpd in 2026, production was 6.238mbpd in August vs 8.135mbpd in July #oott
#OPEC September oil market report oil demand growth in mbpd 2026 cut from 0.58 to 0.38 2027 raised from 2.16 to 2.36 non-OPEC+ supply growth in mbpd 2026 unchanged at 0.64 2027 unchanged at 0.62 OPEC+ crude production rose by 0.297mbpd m/m to 38.055mbpd in August based on secondary sources #oott
IAEA sees evidence of activity ba Iran's Pickaxe mountain
Yemen’s Houthis close in on stranglehold over strategic Bab el-Mandeb Strait https://t.co/bHFpzqzT9W
U.N. nuclear watchdog resolution "will not bring any results," Iran says https://t.co/UianweLu0b
President Trump said Iran is desperate to affect the midterm elections and mused Wednesday before heading to Texas that the war would end right afterward. "I think the war will end immediately after the election, because they can't hold out any longer," the president told reporters. "They're desperate to try and affect the election so we can get a nice, weak group of people in there and leave them alone and let them have their nuclear weapon." "All they want is a nuclear weapon and if they had a nuclear weapon the whole world is in deep trouble," he said. https://t.co/iGkrCzH6LX
UKMTO has received a report of an incident 28NM south-east of Al-Faw, Iraq. The Master of a tanker has reported being struck by an unknown projectile. Crew are reported safe and there is no environmental impact reported at this time.
#China’s private oil refiners may cut processing runs in the coming weeks as traditional sources of crude supply become scarcer and costs surge, potentially hurting demand in the biggest importer. Teapots — as the companies are known — face a twin challenge, with shipments from both Iran and Venezuela under pressure because of a US naval blockade against Tehran’s ports, and redirection of flows from the South American producer following Washington’s intervention. At the same time, crude futures have been rallying, with Brent on the crest of hitting $100 a barrel. #oott https://t.co/UtN0fm0BAG
Pakistan is poised to receive much-needed deliveries of liquefied natural gas, with one vessel of Qatari fuel having passed through the Strait of Hormuz and another set to follow. https://t.co/ZGLwARck0q
Iran’s military claimed that it captured an underwater drone from US forces amid ongoing tensions in the Strait of Hormuz, but the US dismissed the sea drone as “defective and malfunctioning” https://t.co/sht8MRO2Pv
Treasury Grounds Iranian Airlines with Sweeping Sanctions Action https://t.co/GBulATiEKx
Russian Foreign Minister: Russia will coordinate its approach with Saudi Arabia within OPEC+ #oott https://t.co/mB4VsIYelz
#Iraq is negotiating with a consortium of United States and Qatari companies over the proposed Basra-Baniyas oil pipeline, Iraq's oil minister said on Tuesday. The minister added that Baghdad remained committed to its OPEC production quota and would not exceed output of 4.2 million barrels per day. #oott https://t.co/qgXxqIS6Li
Saudi Arabia's Foreign Minister Faisal bin Farhan said on Tuesday that cooperation with Russia, a fellow member of the OPEC+ alliance, had proved important in supporting global energy markets. "Saudi Arabian and Russian cooperation includes a spectrum of political and economic sectors, which proved to be important for supporting global energy markets," he said during a trip to Moscow. https://t.co/Kypxy2AMpt
Iran’s President Says Tehran to Resist Until ‘Aggressors Are Regretful’ https://t.co/gBxWJhWUtk
#Iraq will soon announce opportunities to develop and build oil refineries and invite companies and investors to compete for them, its oil minister said on the sidelines of an oil and gas conference in Baghdad on Tuesday, without providing a timeline. #oott https://t.co/6Q34y4g0NE
Several energy sector facilities and installations targeted in the southern region of the Kingdom An official source at the Ministry of Energy stated that several energy sector facilities and installations in the southern region of the Kingdom were targeted this morning, Tuesday, September 8, 2026. The relevant authorities have begun addressing the situation and taking the necessary measures. The source explained that the attacks caused fires at several locations, leading to a temporary halt in some operations. Specialized field teams have begun containing the fires, securing the sites, and assessing the damage. The source added that the attacks resulted in injuries of varying severity to a number of citizens and residents. The injured are receiving the necessary medical care, and assessment and follow-up operations are ongoing. The source confirmed that the relevant authorities are continuing to address the repercussions of the attacks and are taking the necessary measures to ensure the safety of facilities and personnel and the continuity of operations according to approved operational plans #oott
Global diesel supply will remain tight due to a lack of spare refining capacity, Russia's ban on exports and the approach of peak winter demand, senior industry executives said on Tuesday. The wars in Ukraine and Iran have impacted refineries in Russia and the Middle East, pushing diesel margins to record levels in Europe and the U.S., while reducing crude supplies to Asia. "There's really a shortage of products because we're missing 2 million barrels a day from Russia, and we're missing nearly 2 million barrels a day from the Middle East," Vitol CEO Russell Hardy told the APPEC conference on Tuesday. Hardy said crude is in a better supply position than products as the Middle East is exporting about 9 million bpd of crude and 1 million bpd of products. "We're still not running enough refining capacity to prevent those draws," he said. "We keep eating into the surplus that exists around the world, and we're pretty much at the bottom of our stockpiles." #oott https://t.co/a3HeZFPV8C
The Energy Ministry publishes a strategic plan for #Israel’s fuel economy through 2040 that includes moving the Bazan oil refineries from the northern city of Haifa to the south of the country, contrary to a 2022 government decision to close them down and end domestic refining. Conducted by the BDO consulting firm, the study emphasizes that relying solely on imported refined products poses excessive national security risks during wartime or global crises. #oott https://t.co/KWcHDQPOPG
Iran warns ships face strike risk near Oman'# Kgasab - IRGC navy official, Fars #oott
Two leading commodity trading houses have seen their profits soar, according to company financials seen by Bloomberg News, highlighting how the war in Iran has created a bonanza for the traders and their top executives https://t.co/NHvJtu9qt1
Adnoc Said to Be in Talks for Thailand, Dangote Refinery Stakes #oott https://t.co/EA2JKPggFP
Iran said a deal with Oman to manage shipping through the Strait of Hormuz is days away https://t.co/uhNRGYKlDV
The US is increasing diplomatic pressure on Iran by proposing that Tehran be referred to the U Security Council over its stonewalling of nuclear inspectors https://t.co/1zB9rMI5fq
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