"We don't need too much help, and we don't need any help actually," Trump told reporters at the White House during his meeting with Ireland's prime minister Micheal Martin. Earlier on 17 March, Trump in a social media post said that "we no longer 'need,' or desire, the NATO Countries' assistance — WE NEVER DID! Likewise, Japan, Australia, or South Korea."
Trump, who on 3 March said the US would provide naval convoys for ships transporting energy and other commodities through the strait, said on 16 March that the task should really be the responsibility of other countries reliant on the Mideast Gulf supply. But US allies in Europe and Asia-Pacific pushed back on the request.
The US Bureau of Ocean Energy Management (BOEM) intends to use emergency procedures to quickly conduct an environmental review that is required before it can allow hydraulic fracturing off California for the first time in decades. The well stimulation technique has been prohibited in federal waters off the state since 2018, when a judge sided with activists who said an earlier environmental review was inadequate.
Some Asian refiners were unwilling to buy Russian crude cargoes despite a one-month US sanctions waiver for Russian oil loaded before 12 March, because of other considerations such as EU sanctions that remain in place. Asian refiners that export refined oil products to Europe were worried that processing Russian crude in their refineries will jeopardise their product sales to the European market.
Much of the Russian crude that had previously built up on the water — effectively in floating storage — has found buyers since late January. Russian crude in floating storage had dropped to 4.5mn bl on 13 March, from 19.6mn bl at the end of January, data from global trade analytics platform Kpler show.
Ice Brent futures fell in early Asian trading after US allies rebuffed its call for assistance to reopen the strait of Hormuz.
The Ice front-month May Brent contract was at $101.03/bl at 04:00 GMT, down by $2.39/bl from its settlement on 17 March when it ended $3.21/bl higher.
The Nymex front-month April crude contract was at $93.19/bl, lower by $3.02/bl from its settlement on 17 March when it ended $2.71/bl higher.
US president Donald Trump said the US will undertake the task of reopening the strait of Hormuz on its own.
"We don't need too much help, and we don't need any help actually," Trump told reporters at the White House during his meeting with Ireland's prime minister Micheal Martin. Earlier on 17 March, Trump in a social media post said that "we no longer 'need,' or desire, the NATO Countries' assistance — WE NEVER DID! Likewise, Japan, Australia, or South Korea."
Trump, who on 3 March said the US would provide naval convoys for ships transporting energy and other commodities through the strait, said on 16 March that the task should really be the responsibility of other countries reliant on the Mideast Gulf supply. But US allies in Europe and Asia-Pacific pushed back on the request.
The Trump administration is aiming to enable the use of hydraulic fracturing on wells drilled off California, in its latest push to boost oil and gas production in the federal waters of the Pacific.
The US Bureau of Ocean Energy Management (BOEM) intends to use emergency procedures to quickly conduct an environmental review that is required before it can allow hydraulic fracturing off California for the first time in decades. The well stimulation technique has been prohibited in federal waters off the state since 2018, when a judge sided with activists who said an earlier environmental review was inadequate.
In Asia, crude buyers have recently been offered Russian light sweet ESPO Blend from floating storage, but interest in Russian oil has been mixed.
Some Asian refiners were unwilling to buy Russian crude cargoes despite a one-month US sanctions waiver for Russian oil loaded before 12 March, because of other considerations such as EU sanctions that remain in place. Asian refiners that export refined oil products to Europe were worried that processing Russian crude in their refineries will jeopardise their product sales to the European market.
Much of the Russian crude that had previously built up on the water — effectively in floating storage — has found buyers since late January. Russian crude in floating storage had dropped to 4.5mn bl on 13 March, from 19.6mn bl at the end of January, data from global trade analytics platform Kpler show.
By YouLiang Chay