Oil
Takaichi Seeks to Reassure Japan Firms Over Naphtha Supply
Japanese Prime Minister Sanae Takaichi said there will be enough supply of naphtha to meet domestic demand until next year, even as companies raise concerns about supply chain instability following the effective closure of the Strait of Hormuz.
Oil Holds Weekly Gain as Trump Says Iran Blockade Is Working
Oil held its second weekly gain as US President Donald Trump said he was sticking with a naval blockade of Iranian ports, elevating concerns the vital Strait of Hormuz would not reopen anytime soon.
Europe searches for jet fuel alternatives as Middle East supplies halt
Europe is scrambling to find alternative jet fuel supplies as the aviation industry faces a critical shortage. Prices have surged above $200 a barrel, with inventories remaining tight, according to Société Générale analysts, as the bloc faces a complete halt of imports from the Middle East.
