Gasoline could be the next petroleum product to come under intense supply pressure as the Iran war rumbles on, according to oil trading giant Vitol Group.

Kuwait will consider increasing oil storage abroad to boost its ability to supply global markets after the war in the Persian Gulf blocked flows through the Strait of Hormuz, according to the head of the state energy company’s marketing arm.

The United Arab Emirates is considering building an additional pipeline for refined products that would bypass the Strait of Hormuz and carry fuels to the country’s east coast.

Oil rose by the most since early May as traders priced in signals that energy flows out of the Middle East could be curtailed further.

The US affirmed that deals with Iran to safely sail through the Strait of Hormuz — even those which don’t involve paying a toll — aren’t allowed, as the conflict between the two nations grinds on.

Shipowners are increasingly optimistic about a pickup in traffic through the Strait of Hormuz after more vessels left the waterway this week with the US providing information to aid those making the journey.

Falling water levels on one of Europe’s most important rivers are restricting the amount of oil barges can carry, adding more pressure to the region’s fuel supply chains as the Iran war grinds on.

Falling water levels on one of Europe’s most important rivers are restricting the amount of oil barges can carry, adding more pressure to the region’s fuel supply chains as the Iran war grinds on.

The UK moved to loosen its Russian sanctions in a controversial move aimed at preventing shortages of diesel and jet fuel, as the war in Iran eats into global oil buffers.

The UK moved to loosen its Russian sanctions in a controversial move aimed at preventing shortages of diesel and jet fuel, as the war in Iran eats into global oil buffers.

BGN added two more senior oil traders to its roster, the latest in a series of industry veterans to join the commodity merchant.

Oil slipped in volatile trading as traders awaited a pivotal meeting between US President Donald Trump and Chinese counterpart Xi Jinping, while fresh US data suggested stockpile have yet to drop to critical levels.

There’s little sign of widespread oil demand destruction in Europe, despite the sharp rise in wholesale prices caused by the Iran war.

The Iran war has squeezed global supplies of jet fuel, threatening to upend vacation plans as the peak summer travel season approaches in the Northern Hemisphere.

In a matter of weeks, Europeans will begin heading off on their summer vacations — whether or not there will be enough jet fuel to transport them all remains an open question.

Military operations have impacted sections of a sprawling European fuel pipeline network at a time of supply pressures caused by the Iran war, according to a German service provider for the system.

Europe will need to find abundant new supplies of jet fuel if it’s to maintain its usual level of imports over the summer holiday season.

Gasoline’s premium to crude posted its biggest weekly gain on record, a boost for refiners that have been under pressure from high oil prices stoked by the Iran war.

A handful of oil tankers were racing toward the Strait of Hormuz on Friday after Iran declared it open, even as industry groups urged caution and several shipowners and traders said they needed more clarity about the status of the waterway before making any decisions.

A mega-refinery owned by Africa’s richest person is becoming an increasingly important source of vital jet fuel supplies to Europe, helping fill a gap left by the impact of the Iran war while boosting profitability.