Santa Ynez oil refinery resumes operations, producing 60,000 barrels daily
California’s Rising Gas Prices and the Santa Ynez Refinery’s Reopening Californians are currently grappling with higher gasoline prices as the Santa Ynez refinery has resumed operations, now producing 60,000 barrels of oil daily. During a visit to this recently reopened site, where oil is now being channeled to Santa Barbara’s onshore pipeline following an executive […]
Former Obama advisor warns that Iran could target Gulf oil sites due to the blockade
A former advisor to President Barack Obama has warned of a potential “worst-case scenario” unfolding in the Middle East. He highlighted that Iran might intensify attacks on crucial energy facilities in the Gulf as the pressure mounts from President Donald Trump’s blockade of the Strait of Hormuz. Dennis Ross expressed concern that if Iran feels […]
Strait of Hormuz remains shut to oil despite Trump’s peace agreement
Oil shipments through the Strait of Hormuz remain largely stalled, even with a U.S.-backed ceasefire dependent on reopening this crucial waterway. This situation raises concerns about whether Iran is genuinely honoring the main conditions of the truce. Currently, around 3,200 ships, including 800 tankers and cargo vessels, are stuck on the western side of the […]
Bitcoin’s upcoming significant shift depends on oil, and at this moment, it’s completely uncertain.
Bitcoin Price Movements and Oil’s Impact Bitcoin’s latest movements seem less tied to its usual fundamentals and more influenced by shifts in oil prices. The leading cryptocurrency has bounced back to around $70,900, recovering from a low near $67,000 earlier in the week. This rebound comes after the U.S. and Iran announced a two-week cease-fire, […]
India Purchasing Oil Straight from Venezuelan State Firm
Reliance Industries, the Indian refiner, has started loading 2 million barrels of Venezuelan crude oil directly sourced from the state oil company PDVSA, as reported by Reuters on Monday. It seems Reliance is among a select few to obtain this general license. The U.S. has granted it permission to acquire Venezuelan oil while adhering to […]
Chevron Bringing 250,000 Barrels of Venezuelan Oil to the U.S. Daily
Chevron, an American multinational energy company, is currently importing around 250,000 barrels of Venezuelan crude oil into the United States daily, as reported by the BBC. Recent reports indicate that Venezuela’s monthly crude oil exports have surpassed 1 million barrels per day. Andy Walz, Chevron’s president of downstream, midstream, and chemicals, confirmed to the BBC […]
Dow futures rise 900 points, oil drops as Trump delays Iran strikes for two weeks: Live updates
U.S. Stock Futures Surge Following Temporary Ceasefire with Iran Traders were busy on the New York Stock Exchange floor, particularly when the opening bell rang on April 7, 2026. The atmosphere shifted dramatically after President Donald Trump declared a two-week pause in military actions against Iran, responding to an 8 p.m. ET deadline. This halt […]
Forex Today: US Dollar remains strong, Oil prices rise as Iran deadline puts markets in suspense
Here’s what you need to know on Wednesday, April 8th. The U.S. Dollar Index (DXY) is lingering around 99.80, just shy of last week’s high of 100. It’s holding up pretty well as traders keep an eye on the situation involving Iran, especially with President Trump’s deadline at 8 PM ET regarding the Strait of […]
Dow drops 180 points, oil rises as Trump’s deadline for Iran bombing nears
On Tuesday, U.S. stocks dipped while oil prices climbed as the clock ticked down to President Trump’s 8 p.m. ET deadline for Iran to reopen the Strait of Hormuz. Many investors seemed to believe a deal wouldn’t materialize in time. By around 2:20 p.m. ET, the Dow Jones Industrial Average had dropped 175 points, which […]
Iran Warns of Attacks in the Gulf to Cut Off Oil Supplies to the U.S. and Its Allies ‘For Years’
Iranian Forces Threaten Escalation Amid U.S. Tensions The Iranian regime has raised alarms, suggesting they might increase attacks on energy facilities and U.S. interests in the Persian Gulf. This follows President Trump’s warning of potential U.S. military action against Iranian infrastructure. As the cease-fire deadline set by Trump draws near, Iran’s Islamic Revolutionary Guards Corps […]