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TRUMP REVERSES COURSE ON CUBAN OIL BLOCKADE, ALLOWS RUSSIAN TANKER TO PASS.
U.S. President Donald Trump has unexpectedly reversed course on his administration’s strict stance toward Cuba’s oil supply, signaling that he is open to allowing countries including Russia to deliver crude oil to the island despite ongoing sanctions and political tensions. The shift comes at a critical moment for Cuba, which is facing one of its worst energy crises in years after a de facto oil blockade cut off key suppliers like Venezuela and Mexico, leaving the country without fuel shipments for months. The arrival of a sanctioned Russian tanker carrying a large crude cargo offers temporary relief to an economy strained by blackouts, fuel shortages, and declining industrial activity. However, the move also raises broader questions about U.S. sanctions policy, global oil flows, and the growing role of geopolitical considerations in determining who gets access to energy supplies during times of crisis.
- 2 weeks, 3 days
ASIAN REFINERS SWITCH FROM DUBAI TO BRENT TO PRICE U.S. CRUDE.
Asian refiners are increasingly changing the way they price U.S. crude oil purchases, shifting from the Middle East Dubai benchmark to the global Brent benchmark after Dubai crude prices surged to record levels. The spike in Middle East crude prices has been driven by supply disruptions, reduced crude availability, and ongoing shipping risks around the Strait of Hormuz due to the Iran conflict. As a result, Middle East oil has become significantly more expensive, forcing Asian buyers to rethink pricing mechanisms and sourcing strategies. This shift could have long-term implications for global oil trading, pricing benchmarks, and derivatives markets, especially if more refiners and producers move away from the Dubai benchmark toward Brent-linked pricing systems.
- 2 weeks, 6 days
MIDDLE EAST SHOCK GIVES DANGOTE REFINERY LEVERAGE AS CHEAP IMPORTS DRY UP.
Disruptions in global energy flows caused by the Iran conflict are reshaping Africa’s fuel supply landscape, giving Nigeria’s Dangote Petroleum Refinery a major competitive advantage. As traditional low-cost fuel imports from Europe and the Middle East decline due to shipping disruptions and tighter supply, Dangote is rapidly increasing exports across the continent. With shorter supply chains, growing production capacity, and rising regional demand, the refinery is emerging as a key alternative supplier at a time when African markets are prioritizing fuel availability and energy security over price. This shift signals a potential long-term transformation in how West and Sub-Saharan Africa source refined petroleum products.
- 3 weeks
DANGOTE REFINERY EXPORTS 456,000 TONNES OF FUEL TO AFRICAN MARKETS.
The Dangote Petroleum Refinery has exported 456,000 tonnes of refined petroleum products to several African countries in March 2026, marking a major shift in Africa’s fuel supply structure. The exports, delivered through 12 cargo shipments by international traders, included Premium Motor Spirit (PMS) and were sent to countries such as Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo. The development comes shortly after the refinery reached its full production capacity of 650,000 barrels per day, positioning the facility as a major supplier not only for Nigeria but for the wider African market. This expansion is happening at a critical time when global fuel supply chains are under pressure due to the ongoing Middle East conflict, pushing African countries to seek alternative and more reliable fuel sources closer to home.
- 3 weeks, 1 day
OIL RISES AS MARKETS ASSESS SUPPLY RISK AFTER IRAN DENIES U.S. TALKS.
Oil prices rose as markets reassessed supply risks after Iran denied holding talks with the United States to end the Gulf conflict, contradicting earlier statements suggesting a possible agreement. The mixed signals increased uncertainty in global energy markets, especially as shipments through the Strait of Hormuz remain severely disrupted. Traders are now pricing in continued supply risks, with analysts warning that oil prices could remain elevated or even surge further if the shipping route remains blocked or if attacks on regional energy infrastructure continue. The situation highlights how geopolitical uncertainty, even without immediate supply losses, can maintain a strong risk premium in global oil markets.
- 3 weeks, 2 days
CHINA LIMITS FUEL PRICE HIKE TO CUSHION IMPACT OF RISING OIL PRICES.
China has intervened to temper rising fuel prices, raising regulated retail ceilings for gasoline and diesel by about half of what would normally be applied under its pricing mechanism. The decision comes as global oil prices surge amid the escalating U.S.-Israeli conflict with Iran, which has injected uncertainty into international energy markets and triggered sharp jumps in crude futures. By moderating the price increases, the government aims to ease the financial burden on households, businesses, and transport sectors, while also maintaining broader economic and social stability. Analysts note that the adjustments, though smaller than market-driven increases, are still the largest on record in China, reflecting the extreme pressures from global crude supply disruptions. The move underscores Beijing’s strategy of proactive intervention in key commodity markets to mitigate external shocks, support domestic economic growth, and reduce inflationary risks at a time when international tensions threaten to drive further volatility in energy costs.
- 3 weeks, 3 days
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