ENA INTELLIGENCE
Crucial updates, expert analytical reports, and strategic insights from the forefront of the global trade and logistics sectors.
LogisticsSaudi Aramco is offering Arab Light, Arab Medium and Arab Heavy to Asian term buyers for ship-to-ship loading off Sohar, Oman, outside the Strait of Hormuz, Reuters reports. The move follows the shutdown of the East-West pipeline and suspended Yanbu loadings. It creates an alternative execution route, but increases dependence on shuttle tankers and STS capacity.
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Crude TradingADNOC agreed to buy 32 million barrels of Iraqi crude for August and another 40 million for September, according to a Reuters source, becoming the largest lifter in both months. Most third-party barrels are expected to feed Ruwais while more UAE crude is marketed internationally. The strategy links discounted SOMO supply, refining optimisation and an expanding tanker fleet.
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DieselThree of Russia’s six largest diesel-producing refineries have sharply reduced or halted output after drone damage, Reuters calculations show. Kirishi is shut, while Volgograd and NORSI are reportedly near one-quarter of capacity. With Moscow restricting diesel, gasoline and jet-fuel exports, the outages add direct pressure to global middle-distillate availability.
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LNGSantos signed a 10-year delivered LNG supply agreement with POSCO Steel and a separate FOB purchase agreement for about 1 million tonnes per year from Canada's proposed Ksi Lisims project, Reuters reports. The purchase could run for up to 20 years from around 2031, giving traders a clear signal of longer-term portfolio diversification between Pacific supply and Asian demand.
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RefiningExxon Mobil shut its 264,000-barrel-per-day Joliet refinery after a power outage triggered a plant-wide safety shutdown, Reuters reports. The facility can produce about 11 million gallons of gasoline and diesel daily for the U.S. Midwest. Units are being stabilised, with normal service expected by the end of the week, making restart timing important in an already tight fuel market.
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ComplianceIran's Persian Gulf Strait Authority published a list of 77 vessels it says violated its Hormuz protocols, warning of fines, detention or confiscation, Reuters reports. It also cautioned insurers, P&I clubs and classification societies against servicing listed ships. The announcement raises immediate screening, chartering and insurance questions for cargoes exposed to the strait.
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ShippingCommodity-vessel transits through the Strait of Hormuz fell to single digits per day over the weekend, preliminary tracking data cited by Reuters show, versus a 10-day average of 14. Before the war, the route typically handled about 125 large commercial vessels daily and roughly one-fifth of global crude and LNG supply. The gap signals continued execution risk for Gulf cargoes.
Read Verified UpdateDieselU.S. President Donald Trump called on Ukraine to stop targeting Russian diesel infrastructure, arguing that reduced fuel output is worsening the global shortage. Reuters reports that recent strikes have constrained Russian refinery production while U.S. diesel moved above USD 6 per gallon. The intervention highlights how refinery outages are feeding directly into international middle-distillate availability.
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RefiningDangote launched Africa's largest share sale, offering 4.1 billion refinery shares and targeting USD 1.6 billion before any greenshoe option, Reuters reports. The 700,000-barrel-per-day plant aims to reach 1.4 million barrels per day by 2029. Its expansion could materially reshape African gasoline and Jet A1 balances and crude procurement flows.
Read Verified UpdateShippingUKMTO received a report that a projectile struck a vessel transiting the Strait of Hormuz, Reuters reports. Damage and crew status were not yet known. The fresh incident adds immediate voyage, insurance and cargo-execution risk at the Gulf's principal energy chokepoint while regional export alternatives are already under pressure.
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FreightVLCC freight from the Gulf of Oman to China reached about Worldscale 450, equivalent to roughly USD 11.50 per barrel, according to Baltic Exchange data cited by Reuters. Rates also set records on West Africa-to-Asia voyages as security risk reduced available tonnage. Freight is becoming a decisive component of delivered crude economics.
Read Verified UpdateUpstreamTotalEnergies and its partners plan to invest USD 10 billion in Angola over five years to sustain production, Bloomberg reports via Rigzone. The company currently produces about 450,000 barrels per day in the country. The programme highlights the capital required to offset mature-field decline and defend future Atlantic Basin supply.
Read Verified UpdateLogisticsSaudi Arabia temporarily closed its East-West pipeline as a precaution after aerial attacks, Reuters reports. The route had carried 4 million to 5 million barrels per day in recent months, helping bypass Hormuz. The extent of damage and the impact on exports were still being assessed. The shutdown adds a material constraint to an already disrupted export system.
Read Verified UpdateRefiningThe White House is considering how to use the Defense Production Act to expand US refining capacity, according to Reuters sources. Refiners favour improving or expanding existing plants over building a new refinery. No final decision was made. With utilisation reported at 98%, the discussions highlight limited immediate spare capacity rather than an imminent increase in fuel supply.
Read Verified UpdateLNGQatarEnergy is discussing US LNG contracts through 2031 to replace volumes lost after damage to Ras Laffan, Reuters reports, citing industry sources. Its trading arm is reportedly seeking 2 million to 3 million tonnes annually. The negotiations suggest a shift from spot replacement cargoes toward longer supply cover; they are not confirmed signed contracts.
Read Verified UpdateMarketReuters reports that the IEA now expects global oil supply to fall by 5.7 million barrels per day in 2026. Normal Gulf flows are not expected to return before 2027, while shrinking inventories leave less room to absorb further disruption.
Read Verified UpdateSupplyThe IEA estimates Saudi crude supply at 6 million barrels per day in August following attacks affecting infrastructure and shipping. Reuters notes that this differs from Saudi Arabia’s own reported supply figure. Supply and production measures should not be treated as interchangeable.
Read Verified UpdateRefiningReuters reports that US diesel prices reached a record as Gulf shipping constraints and Russian refinery disruption tightened fuel markets. Crude futures eased during Friday trading but remained on course for a substantial weekly gain. These are dated market observations, not current quotations.
Read Verified UpdateShippingYemeni government sources told Reuters that Houthi forces reached Perim Island at the entrance to the Red Sea. The development raises concern over another major maritime corridor while traffic through Hormuz remains disrupted. The report does not establish a complete closure of Bab el Mandeb.
Read Verified UpdateMarketOPEC lowered expected global oil demand growth for 2026 to 380,000 barrels per day, Reuters reports. This was its fifth consecutive downward revision. The producer group still anticipates growth, illustrating the continuing divergence between major institutions’ demand assessments.
Read Verified UpdateMarketBrent and WTI extended their decline after a more than 2% fall in the previous session. Traders weighed tighter U.S. economic pressure on Iran against continuing physical-supply and Strait of Hormuz risks.
Read Verified UpdateRegulationThe U.S. Treasury designated a commodities-trading network, shipping and bunkering entities, and several crude and LPG tankers. The action materially increases counterparty, vessel-screening and secondary-sanctions exposure for international energy transactions.
Read Verified UpdateRefiningEIA data show Nigeria's seaborne petroleum-product shipments averaged 561,000 b/d in the second quarter of 2026, with exports reaching 350,000 b/d. Higher Dangote runs have reduced import dependence and expanded flows to Europe and other African markets.
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RefiningSinopec plans to increase crude sourcing from Brazil, Africa and alternative loading routes as Middle East disruptions pressure supply security. The refiner reported inventories covering approximately 20 days of processing and 15 days of refined-fuel sales.
Read Verified UpdateLogisticsTotalEnergies' CEO said elevated war-risk transport costs remain absorbable for deeply discounted crude, while refined-product movements face a materially heavier freight burden. The company intends to support pipeline routes that bypass the Strait of Hormuz.
Read Verified UpdateRegulationThe European Union confirmed broader restrictions covering vessels that bunker or otherwise support Russia's shadow fleet, alongside 41 additional vessel listings. The framework also introduces notification requirements for LNG tanker sales.
Read Verified UpdateMarketThe IEA's August Oil Market Report projected a 1.6 million b/d contraction in 2026 demand and refinery throughput nearly 5 million b/d below year-earlier levels in July. Diesel and jet-fuel export disruptions continued to support exceptionally strong product cracks.
Read Verified UpdateSupplySeven OPEC+ countries agreed to implement a 188,000 b/d production adjustment for September 2026 while reaffirming full conformity and compensation for previously overproduced volumes. The group will review market conditions again in September.
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Aviation FuelIATA projected average 2026 jet-fuel prices of USD 152 per barrel and an historically high USD 57 per barrel crack spread. Fuel was expected to represent 31.4% of airline operating expenses, highlighting sustained exposure to Jet A1 market tightness.
Read Verified UpdateShippingThe Canadian Arctic and Norwegian Sea became MARPOL Annex VI Emission Control Areas on 1 March 2026. Ships operating in these zones must comply with stricter sulphur, nitrogen-oxide and particulate-matter limits, including a 0.10% sulphur cap for marine fuel.
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