Oil prices

West Texas Intermediate fell as much as 19%, its biggest intraday decline since 2020.

Oil slumps below US$100 as Iran agrees to open Hormuz in ceasefire

The near-closure of the Strait of Hormuz has roiled energy markets

Disputes related to force majeure provisions are expected to rise given the number of contracts affected by the Middle East war.

No longer ‘boilerplate’: Force majeure provisions under fresh scrutiny, say Singapore lawyers

Granular provisions are replacing broad, generic language in this ‘unloved’ section of contracts 

The rubble of a building at Sharif University of Technology in Teheran on Apr 7, which was damaged in a strike amid the US-Israeli conflict with Iran.

Iran defiant as clock ticks down on Trump’s threat to unleash ‘hell’

Investors are vacillating between bets either on a quick resolution, or on an escalation that could prolong a disruption to energy supplies

Russia produces around 10 million barrels of crude per day and about half are exported.

World is lining up for Russian energy, the Kremlin says

Beyond oil, the nation is also moving LNG eastwards

Iran has almost entirely blocked the traffic in the Strait of Hormuz, through which about 20 per cent of world oil and gas regularly flows.

Oil, gas crisis triggered by Iran’s Hormuz blockade worse than 1973, 1979, 2022 together: IEA chief

Countries most at risk were developing nations which will suffer from higher oil and gas prices

As the world’s third-largest oil trading hub and sixth-largest refinery export hub, Singapore is deeply connected to global energy flows.

‘Sufficient’ fuel and food reserves, but Singaporeans may face higher prices and fewer options: Shanmugam

There is a ‘low probability’ of disruptions to domestic energy and electricity supply due to the Iran war, but they cannot be ruled out, he says

US President Donald Trump at a news conference at the White House on Monday (Apr 6).  He has divulged little about any ongoing ceasefire negotiations with Iran.

‘We have to have a deal that’s acceptable to me’: 6 takeaways from Trump’s news conference on Iran

The US president continued to make Venezuela the model for his vision of how to deal with Iran

US fuel exports hit a record high last month, as refiners shipped more fuel from the US Gulf Coast to Asia and Europe, and even reversed traditional flows to export from the US East Coast to Europe.

Trump’s shipping waiver does not boost oil flows within US; fuel exports soar

Ship owners earn more sending vessels on longer journeys from the US to Asia