Transportation

Commodities supercycles have the power to reshape market trends for many years, even decades. We appear to be back in one, as the Iran War has amplified a number of long-term bullish tendencies. Many investors are now asking how to engage in the supercycle, rather than whether they should. Oil recorded its biggest monthly gain ever following the U.S. and Israeli strike on Iran in February. Add to that the substantial gains in copper and gold since mid-2025, and the race to find energy, metals, and minerals to fuel the artificial-intelligence arms race. A commodities supercycle is underway. Commodities supercycles...

Three sources said that Chevron is expected to sign an agreement on Monday to return the Loran field to Venezuela, and to participate in a new extra-heavy crude area in Venezuela's main oil regions. Shell will sign a contract to operate the Loran field. Three sources close to the preparations said that Shell will sign a contract for the Loran gas field. The agreement is part of a series of changes and expansions since the U.S. launched a $100 billion plan to rebuild Venezuela's energy industry after it captured President Nicolas Maduro. Sources said that the agreements, which have not...

Uber will return to court Tuesday after a setback in its first trial before a federal juror to address a second woman's claim that she was sexually abused by a driver booked via the Uber app. The jury trial in Charlotte, North Carolina, expected to last three weeks, is a test of whether the recent $8.5m verdict in Arizona, was an accident or a warning sign for Uber, as it faces over 3,300 lawsuits similar to those in Arizona. The verdicts in both cases could be used to determine the value of any remaining lawsuits, or a possible settlement of...

Mark Carney, the Canadian Prime Minister, is likely to win a majority in the parliamentary chamber on Monday. This would allow him to implement the legislative agenda that he believes is necessary to address the geopolitical divide and uncertainty of today's world. Three special elections will be held in Ontario and Quebec on Monday, two of which are in districts that have voted liberally for many years. Carney will have a majority if he wins just one of these seats. According to polls, they're expected to win at least two seats. Carney said this would allow him to deal with...

Mark Carney, the Canadian Prime Minister, is likely to win a majority in the parliamentary chambers on Monday. This would allow him to implement the legislative agenda that he believes is necessary to address the geopolitical uncertainty and divisions of today's world. Three special elections will be held in Ontario and Quebec on Monday, two of which are in districts that have voted liberally for many years. Carney will have a majority if he wins just one of these seats. According to polls, they're expected to win at least two seats. Carney said this would allow him to deal with...

Saudi Arabia said that it had restored the full capacity of the East-West oil pipeline to about seven million barrels per day. This was after assessing the damage caused by the attacks on the energy sector during the Iran conflict. According to the ministry, the energy facilities and pipelines that were damaged during the conflict are now operational again. Saudi Arabia did not say who was behind the attack, but it has intercepted Iranian missiles and drones many times in recent weeks. The strikes also disrupted key oil, gas and refining sites, as well as petrochemical, electricity and petrochemical sites,...

Analysts say that Florida residents are paying significantly more for gasoline and diesel than the national average in recent weeks due to the U.S. - Israeli war with Iran, which forces the Sunshine State into competition?with Europe and Asia over fuel produced by 'Texas' and other U.S. States. The high-end, rare premiums show how Iran's blockade of Strait of Hormuz exposed vulnerabilities to oil and fuel supply chain around the world. Florida is not a refinery state, due to its hurricane-prone nature. There are also no pipelines that deliver fuel from U.S. Gulf Coast refining plants. Fuel delivered by the...

For now, the war that shut down the Strait of Hormuz is over. Tehran's insistence on acting as the toll booth keeper for the world's critical?oil artery could make energy markets more vulnerable and lead to higher prices. According to U.S. president Donald Trump, the U.S., Iran and Pakistan agreed to a ceasefire on Tuesday, which was mediated by Pakistan. Tehran must halt its blockade against oil and gas through the Strait. According to an Iranian official, the waterway through which a fifth or more of the world's gas and oil flowed prior to the U.S./Israeli war against Iran, it...

On Wednesday, the top U.S. General said that U.S. soldiers were ready to resume combat if Tehran did not reach a negotiated settlement. The Trump administration was trying to portray this 'war' as a decisive win against Iran. The remarks were made a day after Donald Trump backed away from a threatened civilization ending assault on Iran, on Tuesday night. Two hours before the deadline that he set for Tehran to open up the blockaded Strait of Hormuz. U.S. officials and Iranian officials will meet for talks in Pakistan on Friday. "We hope Iran chooses peace," said General Dan Caine...

Homeland Security Secretary Markwayne Mullin stated on Tuesday that Customs officials may stop 'processing international travellers at major U.S. Airports in "sanctuary Cities" that have refused to cooperate with a hardline immigration crackdown by the Trump administration. This could seriously impact U.S. tourism and trade. This move could halt air travel, commerce and tourism at major airports located in Democratic states. It will also have a major impact on the FIFA World Cup which is scheduled to begin in early June. Last year, more than 50?million foreign travelers landed at three major New York Airports. In October 2025, the U.S.?Department...

Budget documents show that the White House is proposing to reduce airport security operations by more than 9,400 employees and $1.5 billion. Details were included in a budget document for Department of Homeland Security (which oversees TSA) that was part of the White House's proposed budget for the next fiscal. Congress will hold hearings later this month on the White House's budget request as lawmakers strive to reach a budget agreement?before fiscal year ends September 30. Republicans have called for the privatization of?TSA. Budget details had nothing to do with the funding impasse that Congress has been experiencing over DHS...

Federal Aviation Administration announced Monday that it is proposing to hire 2,300 trainee air traffic controllers to address the 'persistent shortage of personnel. FAA is?about 3500 air traffic controllers behind its targeted staffing levels. It employed 13,164 air traffic controllers at the end of September, or 6% less than a decade ago. Many controllers work six-day weekends and mandatory overtime. The?FAA air traffic control academy is also having serious retention issues. The FAA wants to spend $95.4 million on bringing 2,300 new controller trainees aboard, compared to 2,038 by 2025. The FAA also wants $39 million for increased aviation safety...

The International Energy Agency reported that Russia's revenue from crude oil and re-fined?products increased in March. They had fallen to their lowest level since the start of the Ukraine conflict in 2022 in February, when prices spiked because of the Iran war. The commodity revenues of Russia are vital to the state budget. They also help support increasing military expenditures. The Paris-based International Energy Agency (IEA)?said that Russia's crude exports increased by 270,000 barrels a day last month, from February, to 4.6 millions bpd. This was mainly due to higher seaborne shipments because the Druzhba Pipeline remained offline. Following the...

Alparslan bayraktar, the Energy Minister of Turkey, said that TPAO, Turkey's upstream oil and 'gas company will'start acquiring shares' in foreign companies as part 'of Ankara’s 'plans 'to develop international partnerships 'to boost its energy exploration. TotalEnergies, a French oil company, announced earlier that it had signed a preliminary agreement to explore 'Turkey’s Black Sea waters in search of hydrocarbons. This is the 'fifth such accord signed by Turkish firms with oil majors this year. "We will soon turn a new page, too." Bayraktar did not elaborate on the fact that TPAO will be entering a new field by purchasing...

According to calculations and data from sources, the freight rates for shipping Russia’s flagship Urals crude to India in April weakened, giving exporters an additional $8 per barrel. The Iran War has caused a'surge' in energy prices that has kept benchmark oil prices above $100 per barrel. Urals, the company’s key Indian market, is now trading at a higher price than the North Sea benchmark. The spike in freight prices last month increased exporters' costs, and reduced the benefits of higher crude oil prices. The rates eased in April as the ice conditions at Russia's Baltic port improved and the...

Officials from Ukraine said that Russian drones destroyed a substation in the southern Odesa region of Ukraine on Wednesday. Meanwhile, Moscow's forces repeatedly attacked areas further east, killing one person. Oleh Kiper, regional governor of Odesa region, said that emergency services were on the scene and there had been no reported injuries. DTEK is a large energy company. It said that?one of their substations was damaged. Crews were waiting for word to start repairs. DTEK stated that the area had been under Russian attack "almost around the clock". Ukraine's energy infrastructure has been attacked for months. In the four-year conflict,...

Three sources familiar with this matter have confirmed that the Ust-Luga Port has resumed oil exports, despite ongoing drone strikes. LSEG data?showed. According to LSEG and sources, the vessel 'Jewel' left Ust-Luga with 700,000 barrels on board. Loadings had been halted for almost two weeks. The Baltic port is capable of loading up to 700,000 barrels a day. Ust-Luga oil loadings were halted on 25 March after a heavy?drone attack from Ukraine?damaged the port. The attacks have continued during the suspension. Sources said that the Jewel began loading oil at the weekend, but it did not depart immediately due to...

Ukraine's regional development ministry reported on Telegram that a 'Russian drone attack' overnight on Ukraine's largest Danube River port, Izmail, had damaged a port facility. The ministry stated that "the enemy continues to target port infrastructure and logistics." The 'Telegram Post' reported that fires had broken out in warehouses, but were put out by emergency services. No one was injured. Izmail is located on the Danube, at the southernmost?tip? of Ukraine. It faces the territory of Romania on the other river bank. It is a key and often-hit logistical node in wartime Ukraine. In 2022, after Russia blocked Ukraine's Black...

Data from market sources and LSEG revealed that Russia's seaborne gasoil and diesel exports dropped 3% between February and?March to 3.06 million metric tons, as drone attacks disrupted fuel loads at key ports. Sources said that the ultra-low-sulphur Diesel shipments from Primorsk in the Baltic, Russia's largest outlet for diesel exports fell to 1.713 millions tons, down 2.6% since February. Last week, Ukrainian drones repeatedly attacked the Russian Baltic ports Primorsk & Ust-Luga. Following drone attacks, the two ports halted oil and fuel loadings on March 22. The next day, a drone attack caused a fire to break out at...

Moldovan opposition parties demanded on Sunday an explanation from the pro-European Moldovan government regarding its imposition of a "sweeping energy state of emergency" over a damaged electricity line that took four days to repair. Last Tuesday, the Eastern European country’s?parliament?approved a 60-day energy state of an emergency to streamline decision-making. The government had blamed Russian attacks on neighbouring Ukraine after knocking out the Isaccea - Vulcanesti electricity line. Moldova's Energy Ministry announced that the line, which runs from Romania to Moldova, and crosses 40 km of Ukrainian territory, was restored Saturday. This line is responsible for 70% of the country's...

The European Commission and the natural gas grid operators of Bulgaria, Greece, Romania, Moldova and Ukraine agreed on Friday to tariffs for the corridor that carries gas from Greece to Ukraine, in an effort to increase competition and diversify supply. The Greek gas grid operator DESFA announced in a press release that operators and EU executive have agreed on 'tariffs which will be implemented from October and are in line with EU rules. Greece, Bulgaria Romania and Hungary have agreed to develop the necessary infrastructure in order to realise the so-called Vertical gas Corridor, which would allow bidirectional gas transmission...

Kazakhstan's Energy Ministry said on Friday that the attack on Russia’s major port in the Baltic, Ust-Luga, did not affect?Kazakhstan’s oil exports. It added?that flows were operating normally. The Ministry said that it continues to monitor the situation. Three processing units at the Ust-Luga Complex, each with a capacity of three million metric tonnes per year, refine stable condensate to light and heavy naphthas, jet fuel, ship fuel oils and gasoil. Kazakhstan exports part of its crude oil through Russian ports along the Baltic Sea. This includes Ust-Luga which was 'hit by a Ukrainian drone on March 25. Both Ust-Luga...

Two 'industry' sources said that Russian oil producers warned buyers on Friday they could declare force majeure over supplies from major Baltic Sea ports, as Ukraine continues to attack Russian energy infrastructure. The Ukrainian president Volodymyr Zelenskiy said this week that Kyiv uses long-range attacks to maintain pressure on Russia, after international sanctions against Moscow were eased because of global supply disruptions caused by the Iran War. Sources said that Ukrainian drones targeted the port of Ust-Luga on Friday, where an ongoing fire from a strike made Wednesday still burned. The raids have halted oil loadings in the port since...

Two market sources say that the closure of Russia's Baltic Port of Ust-Luga after a drone strike?on Wednesday may force major refineries in Europe to reduce crude oil runs because of shipping restrictions. Sources and social media reports claim that the strike caused damage to a rail deloading rack at the Ust-Luga Terminal. The Ust-Luga bottleneck threatens oil processing in four of the largest refineries in 'the European part of Russia - Kirishi Yaroslavl Moscow and Ryazan. According to traders, they process around 55 million metric tonnes of crude oil each year (400,000 barrels a day). On Wednesday, the?Ust-Luga Oil...