The U.S. has shipped a record amount of distillate fuel overseas, with exports rising to 1.9 million barrels a day last week, according to the U.S. Energy Information Administration. This surge in exports has been driven by the global scramble…
Iran announced on August 5, 2026, that it had reached a tentative agreement with Oman to establish a shipping route through the Strait of Hormuz, a critical chokepoint for global oil supplies. The deal, still in the final drafting stage…
U.S. Energy Secretary Chris Wright confirmed on August 4, 2026, that the Trump administration is likely to extend a temporary waiver of the Jones Act, a 1920 law requiring goods shipped between domestic ports to be transported on U.S.-flagged, -built,…
Eight of the world’s largest shipping associations have jointly urged the United Nations and the International Maritime Organization to block any compulsory transit fees or service charges in the Strait of Hormuz, warning that such a move would set a…
US President Donald Trump stated that a deal to reopen the Strait of Hormuz could be reached as early as August 5, as Iran and Oman are nearing an agreement. The strait’s closure has halted shipping and disrupted a route…
Toyoda Gosei Co. Ltd has expanded its rubber recycling programme to include production scrap from Toyoda Gosei East Japan’s Miyagi Kurihara plant, marking the first time the company is collecting rubber scrap from another entity within the broader Toyoda Gosei…
Univar Solutions has finalized the acquisition of HM Royal, a century-old US distributor specializing in rubber, plastics, and adhesive additives, the company confirmed on 3 August 2026. The deal, announced by Downers Grove, Illinois-based Univar, is designed to bolster its…
French supplier Hutchinson has entered a strategic partnership with Chinese humanoid robot developer Leju Robotics to develop technologies and applications for embodied robots in industrial manufacturing. The agreement positions Leju as Hutchinson’s key embodied intelligence partner in China. Hutchinson will…
Major oil companies reported massive profit surges as the ongoing conflict in Iran disrupted global energy markets, driving fuel prices sharply higher. Six of Europe’s largest oil firms posted combined first-quarter profits of $22 billion—over 40% higher than the previous…
Iran and Oman have made progress toward a landmark agreement to reopen the Strait of Hormuz, a critical chokepoint for global oil and gas shipments, regional officials confirmed on August 4, 2026. The emerging deal would establish separate entry and…