Oil Prices Shift Lower as Strait of Hormuz Flows Recover 

Crude prices moved lower this week as improving oil flows through the Strait of Hormuz eased supply concerns and reduced the market’s focus on geopolitical risk. WTI traded down roughly $7/bbl over the course of the week, while Brent also posted weekly losses as crude exports from the Persian Gulf steadily recovered

What's That: Strategic Petroleum Reserve (SPR)

When global oil supplies are at risk, the U.S. has a backup plan: the Strategic Petroleum Reserve (SPR). The SPR is the country’s emergency stockpile of crude oil, built to help cushion the impact of major supply disruptions and give policymakers another tool during energy crises. 

What’s That: Kharg Island

Most people have never heard of Kharg Island, but the small Iranian island sits at the center of one of the world’s most critical oil export systems. As Iran’s main crude export hub, Kharg handles the vast majority of the country’s oil shipments, making it a key focal point in the ongoing Iran war and a growing concern for global energy markets.

Prices are up across the country - wrecking your fuel budget. Is it too late to lock in at a lower price? Turns out, you can use fixed price to lock in a price much lower than current levels, helping you spread your risk out into the future and protecting your bottom line. 

Urea Volatility Pushes DEF Prices Higher as Global Supply Tightens

Although fuel prices have been the focus of headlines, DEF prices are just as volatile. The shift is being driven by rapid changes in the global urea market, where disruptions tied to Middle East tensions are tightening supply and accelerating cost increases.

Rising Lubricant Prices: What’s Behind the Shift?

The conflict with Iran has brought tremendous pressure across the oil industry. From nat gas and crude oil to gasoline, diesel, and lubricants, the reduction of traffic through the Strait of Hormuz has had significant price impacts for fleets.  

With fuel prices returning to near record levels, the threat of loss has been mounting as well. The recent escalation between the U.S. and Iran, and the resulting 40%+ increase in fuel prices, creates a situation that isn’t just problematic for budgets, but also for fuel theft. 

What’s That: Floating Storage

What happens when the world keeps producing oil, but tankers can no longer deliver it? Under normal conditions, oil flows through a seamless chain of operations in which it is pumped, shipped, and refined. But when key transit routes tighten or shut down, this system breaks down.

What's That: Bab el-Mandeb Strait

The Bab el-Mandeb is closely linked to the Strait of Hormuz, as both form a continuous maritime corridor for global energy trade. Under normal conditions, Hormuz handles about 20 million barrels of oil per day, while the Bab el-Mandeb carries around roughly 12% of global oil shipments.

• About 25–30% of global urea exports come from the Arab Gulf.

• Urea prices remain volatile. NOLA urea prices increased sharply from the mid-$400s in late February to nearly $700 by late March, up more than 46%.

• Prices eased in May but remain under pressure. U.S. Gulf urea futures declined from about $631 per ton on May 1 to about $559 per ton by May 29, after reaching a mid-April high.

• North American production is strong but not enough to fully offset lost imports. Domestic urea production remains high, but it cannot completely replace disrupted import volumes, especially during peak demand periods.