Oil & Gas Corner

Tuesday, 2026-10-13 · covering the last 24h

Market signal

Crude gives back part of Monday's ceasefire-collapse spike. Brent eased to roughly $105.60/bbl and WTI to about $92.80 on Tuesday as traders weighed Russia's pledged diesel cargoes against a still-live Hormuz risk premium, unwinding part of Monday's jump toward $108 that followed a Russian strike on a Kharkiv power station hours after President Trump's claimed Russia-Ukraine "energy ceasefire" fell apart. HDFC Sky · NBC News

Upstream — exploration & production

Gulf of Mexico shut-ins keep easing as Isaias recedes. Shut-in oil had fallen to roughly 1.17 million b/d — about 57.5% of regional output — by Sunday, down from Friday's peak near 72%, as producers kept redeploying staff and restarting wells through the weekend; Shell, Chevron and BP still have not disclosed storm damage or a full-restoration timeline. Anadolu Agency · ABC Columbia

Midstream — pipelines, LNG & shipping

Iran claims fresh Hormuz tanker strikes as the campaign grinds on. Iran's navy said Tuesday it found a damaged, burning oil tanker east of the strait and accused it of running dark through a restricted zone, while the IRGC separately claimed to have now hit three ships in two days; Tehran has warned any vessel transiting with its tracking systems switched off will be treated as hostile. Shafaq News · Democracy Now

Downstream — refining, fuels & chemicals

Houthis widen their target list toward Saudi oil infrastructure. After a fresh wave of missile strikes on Riyadh and Abha airports, Yemen's Houthis claimed an attack on Saudi Aramco's Rabigh refinery on the Red Sea coast and warned that "all oil facilities" in the kingdom are now targets; Saudi authorities have not confirmed the refinery claim. The threat lands just as Saudi exports via the East-West pipeline to the Yanbu hub were only beginning to recover. The Express Tribune · Al Jazeera

The Chatter

Ken Silverstein (Forbes): argues that Trump's move to blame Kyiv for record US diesel prices misdirects from the real cause — refined-product barrels that have gone missing through the Strait of Hormuz, not Russian or Ukrainian strikes — framing both the Russian diesel deal and the "energy ceasefire" push as political cover for a supply problem rooted in the Gulf. Forbes

Beyond that, the usual independent commentariat — Doomberg, HFI Research, Rory Johnston's Commodity Context, Arjun Murti's Super-Spiked, Art Berman, Goehring & Rozencwajg and Eric Nuttall — had nothing freely accessible and clearly dated to this window by time of writing; HFI Research's widely discussed "Peak Hormuz" note (see yesterday's edition) remains the week's most-argued independent take.