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Express News | U.S. air defense time windows restricting oil tanker transit through the Strait of Hormuz
Following an escalation in U.S. efforts to counter attacks on vessels navigating at night, the United States has mandated that tankers transiting the Strait of Hormuz operate only during specific time windows to receive military protection. Since May, Washington has provided air cover to ships opting for routes along Oman's southern coast, aiming to deter Iranian attacks and ensure the continued export of some oil from the Gulf. Shipowners must submit applications to the U.S. Naval Coordination Center for Shipping (NCAGS), which then issues navigation coordinates to crews and authorizes passage during broad nighttime windows, during which U.S. warplanes provide escort. Emails obtained by the media, sent from NCAGS to maritime advisors, reveal that in early September, these transit windows were narrowed to two fixed time slots each day. Vessels were instructed to set sail at designated times—such as 9 a.m.—with one email stating: "We are currently offering dynamically adjusted recommended transit windows. While vessels are not required to transit within these windows, adherence is advised to maximize protection." Another message noted that, given the threats facing merchant shipping, "it has become clear that nighttime transit is not the safest period of the day." (Financial Times)
Tanker freight rates have surged to 4.5 times the baseline benchmark, with the war costs of Middle East conflicts being factored into the price of every barrel of crude oil.
This week, freight rates for very large crude carriers (VLCCs) on the Gulf of Oman-to-China route surged to Worldscale 450 points (equivalent to 4.5 times the benchmark rate), translating to approximately $11.50 per barrel and setting a record high since the inception of this route. Meanwhile, ongoing military exchanges between the United States and Iran continue to constrain available shipping capacity in the Gulf, while VLCC freight rates on the West Africa-to-Asia route have also hit historic highs.
As net long positions in WTI crude oil hit a 20-week high, the Trump administration is considering invoking the Defense Production Act to expand refining capacity.
Executives at refining companies stated that new refineries require several years to become operational, leading them to prioritize improving the efficiency of existing facilities. Currently, the average price of diesel in the United States has surpassed $6 per gallon for the first time, while gasoline prices remain elevated, and refinery utilization rates have reached approximately 98%. According to data from the CFTC, as of the week ending September 8, net long positions in NYMEX WTI crude oil hit a 20-week high, and net long positions in gasoline reached a nine-month high.
Houthi forces have nearly complete control of the Bab el-Mandeb Strait! A dual blockade is strangling Saudi Arabia's export lifeline.
The Houthi forces have not only seized all strategic islands in the Red Sea but also paralyzed Saudi Arabia’s last crude oil export corridor. Can isolated Riyadh weather this shock?
IEA warns that the war in Iran has dragged oil demand to its largest post-pandemic decline, cautioning that further weakening is likely in the coming months.
The ongoing conflict in Iran continues to weigh on global oil demand, with this year's decline marking the largest since the onset of the pandemic, and further contraction is likely in the coming months.
A historic first: U.S. diesel prices surpass $6, as the economy’s “silent killer” stirs up the midterm elections
U.S. diesel prices have surpassed $6 per gallon for the first time in history. As the peak season for diesel demand approaches, this fuel—rarely noticed directly by American consumers yet vital to global supply chains—is becoming a driver of inflation at an unprecedented pace.
Vessel traffic through the Strait of Hormuz has fallen to single-digit levels.
Preliminary vessel-tracking data show that ship traffic through the Strait of Hormuz fell from 11 vessels the previous day to 7 on Thursday (the 10th), well below the 10-day average of 15.Of the
Hong Kong Stocks in Motion | Oil stocks fluctuate lower; Yemen's Houthi forces claim clashes on the Red Sea's west coast have ceased; international oil prices plunge in afternoon trading
Oil stocks fluctuated lower. As of press time, China Oilfield Services (02883) fell 3.06% to HK$7.605, and CNOOC (00883) dropped 2.24% to HK$24.46.
September 10 Buyback Roundup | Tencent and 3SBio, among others, conducted share buybacks, with Tencent spending HK$100 million
According to disclosure documents released by the Hong Kong Exchange on September 11, $Tencent(00700.HK)$ and $3SBio(01530.HK)$ repurchased shares. ① On September 10, $Tencent(00700.HK)$ repurchased 235,000 ordinary shares, involving an amount of HK$100 million, with the repurchase price per share ranging from HK$425.2 to HK$430.2. Since the resolution on the buyback mandate was passed, the cumulative number of securities repurchased stands at 44.8487 million shares, representing 0.49187% of the number of issued shares at the time the ordinary resolution was passed. ② $3SBio(01530.
Houthi forces seized a key Red Sea port, escalating the conflict with Saudi Arabia, while reports emerged that Iran has resumed ballistic missile production, sending crude oil prices surging.
Officers of the Yemeni government forces stated that on Thursday, Houthi rebels captured Mokha, a strategic port city in Taiz Province in southwestern Yemen and a key location on the Red Sea. On the same day, the Houthis claimed that Saudi Arabia had launched 64 airstrikes across multiple locations in Yemen within a 24-hour period. They asserted that navigation in the Red Sea remains "unthreatened" and described their military operations as defensive. Shipping industry experts noted that the capture of Mokha allows the Houthis to advance further south, effectively achieving "near-total control" of the Bab el-Mandeb Strait. The loss of Mokha will "undoubtedly impact maritime security in the region."
Brent Is Back Above $100 and Could Keep Rising. How to Play It.
By Doug Busch Energy has been the market's quiet winner in 2026, with the exception of the second-quarter hiccup, and Wednesday reinforced that point. While the S&P 500 slipped 0.5% and 10 of the 11
HSBC: Global commodities enter "super bull market" amid confluence of Iran war, Russia-Ukraine conflict, and El Niño
HSBC believes that the market has entered a phase of "super squeeze," with commodity prices likely to remain elevated for an extended period.
Express News | According to Iranian media outlet Fars News, Iran has ordered a temporary suspension of the 10% freight surcharge imposed on foreign vessels transporting energy products into and out of the country.
Express News | SHFE: Approval Granted for Sinopec Refining & Sales Co., Ltd. to Add a New Registered Producer of Petroleum Asphalt
Shanghai Futures Exchange Announcement: Recently, the Exchange received an application from Sinopec Refining & Sales Co., Ltd. (hereinafter referred to as "Sinopec Refining & Sales") regarding the addition of Sinopec Guangzhou Branch (hereinafter referred to as "Guangzhou Petrochemical Branch") as a registered producer for petroleum asphalt futures. In accordance with the "Administrative Measures for Registered Commodities of Petroleum Asphalt on the Shanghai Futures Exchange" and other relevant regulations, the following decisions have been made after review: 1. Approval is granted for Sinopec Refining & Sales to add Guangzhou Petrochemical Branch as a registered producer for petroleum asphalt futures on the Exchange. 2. Effective from the date of this announcement, Grade A No. 70 road petroleum asphalt produced by Guangzhou Petrochemical Branch may be used for delivery in settlement of petroleum asphalt futures contracts on the Exchange.
S&P: China helped the world avoid a "doomsday scenario" when the closure of the Strait of Hormuz disrupted 20% of global energy supplies.
Economists stated that China’s multi-year buildup of crude oil reserves, coupled with its reduction in oil purchases following the outbreak of Middle East hostilities in late February, helped avert a deeper global energy crisis. However, this buffer may face tests as Beijing shows signs of resuming purchases. Paul Gruenwald, Chief Global Economist at S&P Global Ratings, said at a conference in Singapore on Thursday (the 10th) that China had to some extent “saved the day” by helping the world avoid an “apocalyptic scenario” when the closure of the Strait of Hormuz disrupted 20% of global energy supplies. As the world’s largest oil buyer, China significantly cut imports after the conflict erupted.
Les Investissements Dans L'hydrogène Propre Atteignent 130 Milliards De Dollars, Alors Que La Sécurité Énergétique Et La Résilience Occupent Une Place De Plus En Plus Importante Dans L'agenda Des Priorités Mondiales
BRUXELLES, 10 septembre 2026 /PRNewswire/ -- L'hydrogène propre n'est plus un pari sur l'avenir : il est en train de voir le jour dès aujourd'hui. Selon le rapport Global Hydrogen Compass 2026 du
Guosen Securities: Significant improvement in petrochemical and chemical operations; global refined oil supply tensions intensify
International oil prices are expected to fluctuate upward within the range of USD 80–100 per barrel in September, with the possibility of a阶段性 breach above USD 100 per barrel not ruled out.
September 9 Buyback Roundup | Tencent, HSBC Holdings, and others conduct share buybacks, with Tencent spending HK$100 million
According to disclosure documents filed with the Hong Kong Exchange on September 10, companies including $Tencent (00700.HK)$ and $HSBC Holdings (00005.HK)$ repurchased shares. ① $Tencent (00700.HK)$ repurchased 231,000 ordinary shares on September 9, involving a total amount of HK$100 million, with repurchase prices ranging from HK$438.2 to HK$432.8 per share. Since the resolution authorizing share repurchases was passed, the cumulative number of securities repurchased stands at 44.6137 million shares, representing 0.48929% of the issued shares outstanding at the time the ordinary resolution was approved. ② $HSBC Holdings (00005.HK)$
Energy Index ETFs have surged 48% year-to-date! U.S. energy stocks remain "cheap" despite the rally: sustained high oil prices could drive a valuation recovery.
The Energy Select Sector SPDR Fund, an ETF tracking U.S. energy stocks, has surged 483% year-to-date, significantly outperforming all other S&P 500 sectors. Despite this rally, the energy sector remains one of the lowest-valued segments within the S&P 500. While elevated oil prices have generated excess profits for energy companies, Wall Street previously viewed this earnings growth as transient. However, if high oil prices persist longer than expected, the valuation re-rating of energy stocks may only just be beginning.
EIA Significantly Raises Oil Price Forecasts: Brent Crude Average Price Expected to Reach $91 in 2026 Amid Greater-Than-Expected Supply Disruptions
The U.S. Energy Information Administration (EIA) projects that the average spot price of Brent crude will be $91 per barrel in 2026 and $74 per barrel in 2027, representing upward revisions of $4 and $5, respectively, from previous forecasts. The average Brent price in the second half of 2026 is expected to be approximately $90 per barrel, $8 higher than previously projected. The EIA anticipates an average production disruption of about 5.7 million barrels per day in the fourth quarter, with global inventories continuing to decline.