07/07/2026 – New missiles in the Strait of Hormuz; a QatarEnergy LNG tanker has also been hit. Gas prices at their highest since the announcement of the MOU between the United States and Iran – Read more news
GAS & POWER: Reports of new attacks on commercial vessels in the Strait of Hormuz, including a QatarEnergy LNG tanker, have pushed gas prices to their highest levels since 12 June. According to Iranian media reports, the action was carried out following a violation of shipping lanes. All eyes are now on the US response, which could come in the form of a statement by President Trump later this morning, and provide further support for this new phase of market growth. Negotiations have also reached an impasse, with Iranian Foreign Minister Araqchi denouncing fresh breaches of the memorandum signed in mid-June.
OIL: A month after the OPEC+ group’s withdrawal, production in the United Arab Emirates is reported by Reuters to have reached its highest level since 2020, hitting 3.8 million barrels a day.
OIL: A month after the OPEC+ group’s withdrawal, production in the United Arab Emirates is reported by Reuters to have reached its highest level since 2020, hitting 3.8 million barrels a day.
