No More Waivers: U.S. to Tighten Iran Oil Sanctions

By Lesley Wroughton and Humeyra Pamuk WASHINGTON, April 22 (Reuters) - The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, a move to choke off Tehran's oil revenues which sent crude prices to six-month highs on fears of a potential supply crunch. The Trump administration on Monday said it will not renew exemptions … [Read more...]

South Carolina Budget Proposal Would Block Offshore Drilling Off State

By Valerie Volcovici April 17 (Reuters) - South Carolina's Republican-majority Senate is poised to advance a measure this week that would require the state to block new infrastructure to transport or process offshore oil and gas as state lawmakers fear the Interior Department will open the Atlantic coast to offshore drilling. Republican State Senator Chip Campsen introduced … [Read more...]

With an Eye on Trump, Refiners Tout IMO 2020 as U.S. Win

By Stephen Cunningham (Bloomberg) -- U.S. oil refiners, in line for a windfall from new ship-fuel rules, are taking steps to lock in the change quickly, concerned it could fall victim to President Donald Trump’s re-election push. Under the new rules, many shippers will switch to low-sulfur fuels, boosting competition and, potentially, increasing the price of diesel, jet fuel … [Read more...]

U.S. Auto Tariffs Would Have Serious Impact on Global Supply Chains

By Alexander Whiteman (The Loadstar) - As carriers to struggle with overcapacity, the impact of potential US automotive tariffs is only likely to worsen the situation, with the country’s ports also set to suffer. This was the finding of shipping consultant Drewry, which assessed three potential tariff scenarios being considered by the US administration. Senior analyst for … [Read more...]

Tehran Vows Action After U.S. Labels Iran Revolutionary Guards as Terrorists

By Parisa Hafezi DUBAI/LONDON, April 9 (Reuters) - Iran's Supreme Leader Ayatollah Ali Khamenei said the United States had made "a vicious move" in designating the Revolutionary Guards as a foreign terrorist organization, and Tehran vowed to take action against U.S. forces in the region. U.S. President Donald Trump designated Iran's Guards a foreign terrorist organization on … [Read more...]